XBB vs. XONE
XBB (BondBloxx BB Rated USD High Yield Corporate Bond ETF) and XONE (BondBloxx Bloomberg One Year Target Duration US Treasury ETF) are both exchange-traded funds - XBB is a High Yield Bonds fund tracking the ICE BofA BB US Cash Pay High Yield Constrained Index, while XONE is a Government Bonds fund tracking the Bloomberg US Treasury 1 Year Target Duration Index. Both are passively managed. Over the past 3 years, XBB returned 7.84%/yr vs 4.55%/yr for XONE. At a 0.30 correlation, their price movements are largely independent. XBB charges 0.20%/yr vs 0.03%/yr for XONE.
Performance
XBB vs. XONE - Performance Comparison
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Returns By Period
In the year-to-date period, XBB achieves a 1.53% return, which is significantly higher than XONE's 1.16% return.
XBB
- 1D
- 0.21%
- 1M
- 0.46%
- YTD
- 1.53%
- 6M
- 1.76%
- 1Y
- 6.37%
- 3Y*
- 7.84%
- 5Y*
- —
- 10Y*
- —
XONE
- 1D
- 0.04%
- 1M
- 0.23%
- YTD
- 1.16%
- 6M
- 1.52%
- 1Y
- 3.81%
- 3Y*
- 4.55%
- 5Y*
- —
- 10Y*
- —
XBB vs. XONE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XBB BondBloxx BB Rated USD High Yield Corporate Bond ETF | 1.53% | 8.59% | 6.41% | 10.63% | 1.60% |
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF | 1.16% | 4.41% | 4.83% | 4.74% | 0.60% |
Correlation
The correlation between XBB and XONE is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2022 | 0.30 |
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Return for Risk
XBB vs. XONE — Risk / Return Rank
XBB
XONE
XBB vs. XONE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BondBloxx BB Rated USD High Yield Corporate Bond ETF (XBB) and BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| XBB | XONE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.39 | ||
| Sortino ratioReturn per unit of downside risk | -14.37 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 3.55 | -2.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 23.89 | -21.61 |
| Martin ratioReturn relative to average drawdown | 9.49 | 138.39 | -128.91 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XBB | XONE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.64 | 7.03 | -5.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.81 | 4.97 | -4.16 |
Drawdowns
XBB vs. XONE - Drawdown Comparison
The maximum XBB drawdown since its inception was -8.87%, which is greater than XONE's maximum drawdown of -0.40%. Use the drawdown chart below to compare losses from any high point for XBB and XONE.
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Drawdown Indicators
| XBB | XONE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.87% | -0.40% | -8.47% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -0.16% | -2.64% |
Max Drawdown (3Y)Largest decline over 3 years | -3.86% | -0.28% | -3.58% |
Current DrawdownCurrent decline from peak | -0.20% | 0.00% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -1.33% | -0.04% | -1.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 0.03% | +0.64% |
Volatility
XBB vs. XONE - Volatility Comparison
BondBloxx BB Rated USD High Yield Corporate Bond ETF (XBB) has a higher volatility of 1.25% compared to BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) at 0.09%. This indicates that XBB's price experiences larger fluctuations and is considered to be riskier than XONE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XBB | XONE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 0.09% | +1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | 0.34% | +2.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.92% | 0.55% | +3.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.08% | 0.86% | +6.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.08% | 0.86% | +6.22% |
XBB vs. XONE - Expense Ratio Comparison
XBB has a 0.20% expense ratio, which is higher than XONE's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XBB vs. XONE - Dividend Comparison
XBB's dividend yield for the trailing twelve months is around 5.55%, more than XONE's 4.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
XBB BondBloxx BB Rated USD High Yield Corporate Bond ETF | 5.55% | 5.42% | 6.35% | 6.15% | 3.73% |
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF | 4.06% | 4.33% | 5.21% | 4.46% | 1.17% |
Frequently Asked Questions
XBB and XONE have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XBB has higher volatility (1.25%) compared to XONE (0.09%). In terms of maximum drawdown, XBB dropped -8.87% vs XONE's -0.40%.
On 3-year performance, XBB leads with 7.84% vs 4.55% for XONE. On fees, XONE is cheaper at 0.03% per year. On volatility, XONE has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XBB has performed better with a 7.84% return vs 4.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XONE is cheaper with a 0.03% expense ratio, compared with 0.20% for XBB.
XBB has the higher dividend yield at 5.55%, compared with 4.06% for XONE.
XBB is categorized as High Yield Bonds, while XONE is Government Bonds. XBB tracks ICE BofA BB US Cash Pay High Yield Constrained Index, while XONE tracks Bloomberg US Treasury 1 Year Target Duration Index. Their fees differ too: 0.20% for XBB and 0.03% for XONE.
XONE currently has the higher Sharpe Ratio (7.03 vs 1.64), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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