XHB vs. UTHY

Last updated Jun 5, 2026

XHB (SPDR S&P Homebuilders ETF) and UTHY (US Treasury 30 Year Bond ETF) are both exchange-traded funds - XHB is a Building & Construction fund tracking the S&P Homebuilders Select Industry Index, while UTHY is a Government Bonds fund tracking the ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, XHB returned 14.15%/yr vs -2.01%/yr for UTHY. At a 0.29 correlation, their price movements are largely independent. XHB charges 0.35%/yr vs 0.15%/yr for UTHY.

Performance

XHB vs. UTHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Homebuilders ETF (XHB) and US Treasury 30 Year Bond ETF (UTHY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XHB achieves a 1.87% return, which is significantly higher than UTHY's -0.07% return.

XHB

• 1D: 0.80%
• 1M: 1.86%
• YTD: 1.87%
• 6M: -2.42%
• 1Y: 9.74%
• 3Y*: 14.15%
• 5Y*: 8.17%
• 10Y*: 12.79%

UTHY

• 1D: 0.28%
• 1M: 0.55%
• YTD: -0.07%
• 6M: -1.08%
• 1Y: 3.20%
• 3Y*: -2.01%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XHB vs. UTHY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XHB SPDR S&P Homebuilders ETF	1.87%	-0.69%	9.87%	46.63%
UTHY US Treasury 30 Year Bond ETF	-0.07%	3.47%	-8.07%	-2.67%

Correlation

The correlation between XHB and UTHY is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (All Time) Calculated using the full available price history since Mar 29, 2023	0.29

The correlation between XHB and UTHY shifts across timeframes, from 0.29 (all time) to 0.40 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

XHB vs. UTHY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XHB

XHB Risk / Return Rank: 15
XHB Sharpe Ratio Rank: 15
XHB Sortino Ratio Rank: 17
XHB Omega Ratio Rank: 15
XHB Calmar Ratio Rank: 15
XHB Martin Ratio Rank: 14

UTHY

UTHY Risk / Return Rank: 14
UTHY Sharpe Ratio Rank: 14
UTHY Sortino Ratio Rank: 14
UTHY Omega Ratio Rank: 13
UTHY Calmar Ratio Rank: 14
UTHY Martin Ratio Rank: 14

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XHB vs. UTHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Homebuilders ETF (XHB) and US Treasury 30 Year Bond ETF (UTHY). 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.

	XHB	UTHY	Difference
Sharpe ratio: Return per unit of total volatility	0.35	0.35	+0.01
Sortino ratio: Return per unit of downside risk	0.76	0.56	+0.20
Omega ratio: Gain probability vs. loss probability	1.08	1.06	+0.02
Calmar ratio: Return relative to maximum drawdown	0.45	0.44	+0.01
Martin ratio: Return relative to average drawdown	0.95	1.10	-0.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XHB vs. UTHY - Sharpe Ratio Comparison

The current XHB Sharpe Ratio is 0.35, which is comparable to the UTHY Sharpe Ratio of 0.35. The chart below compares the historical Sharpe Ratios of XHB and UTHY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XHB	UTHY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.35	0.35	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	-0.18	+0.34

Drawdowns

XHB vs. UTHY - Drawdown Comparison

The maximum XHB drawdown since its inception was -81.61%, which is greater than UTHY's maximum drawdown of -21.86%. Use the drawdown chart below to compare losses from any high point for XHB and UTHY.

Drawdown Indicators

	XHB	UTHY	Difference
Max Drawdown Largest peak-to-trough decline	-81.61%	-21.86%	-59.75%
Max Drawdown (1Y) Largest decline over 1 year	-21.71%	-7.34%	-14.37%
Max Drawdown (3Y) Largest decline over 3 years	-30.53%	-18.58%	-11.95%
Max Drawdown (5Y) Largest decline over 5 years	-39.46%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-49.57%	—	—
Current Drawdown Current decline from peak	-15.65%	-11.19%	-4.46%
Average Drawdown Average peak-to-trough decline	-27.60%	-10.72%	-16.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.32%	2.92%	+7.40%

Volatility

XHB vs. UTHY - Volatility Comparison

SPDR S&P Homebuilders ETF (XHB) has a higher volatility of 8.36% compared to US Treasury 30 Year Bond ETF (UTHY) at 2.68%. This indicates that XHB's price experiences larger fluctuations and is considered to be riskier than UTHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XHB	UTHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.36%	2.68%	+5.68%
Volatility (6M) Calculated over the trailing 6-month period	20.01%	6.22%	+13.79%
Volatility (1Y) Calculated over the trailing 1-year period	27.71%	9.41%	+18.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.64%	13.65%	+13.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.41%	13.65%	+13.76%

XHB vs. UTHY - Expense Ratio Comparison

XHB has a 0.35% expense ratio, which is higher than UTHY's 0.15% expense ratio.

Dividends

XHB vs. UTHY - Dividend Comparison

XHB's dividend yield for the trailing twelve months is around 0.61%, less than UTHY's 4.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UTHY US Treasury 30 Year Bond ETF	4.63%	4.53%	4.58%	2.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XHB SPDR S&P Homebuilders ETF	0.61%	0.78%	0.59%	0.77%	1.06%	0.51%	0.73%	0.89%	1.25%	0.72%	0.67%	0.50%

Frequently Asked Questions

Can I hold both XHB and UTHY in my portfolio?

XHB and UTHY have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XHB or UTHY?

XHB has higher volatility (8.36%) compared to UTHY (2.68%). In terms of maximum drawdown, XHB dropped -81.61% vs UTHY's -21.86%.

Which ETF is better, XHB or UTHY?

On 3-year performance, XHB leads with 14.15% vs -2.01% for UTHY. On fees, UTHY is cheaper at 0.15% per year. On volatility, UTHY has been the lower-risk option at 2.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XHB or UTHY?

Over the 3-year period, XHB has performed better with a 14.15% return vs -2.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XHB or UTHY?

UTHY is cheaper with a 0.15% expense ratio, compared with 0.35% for XHB.

Which ETF pays a higher dividend yield, XHB or UTHY?

UTHY has the higher dividend yield at 4.63%, compared with 0.61% for XHB.

What is the main difference between XHB and UTHY?

XHB is categorized as Building & Construction, while UTHY is Government Bonds. XHB tracks S&P Homebuilders Select Industry Index, while UTHY tracks ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross. They also come from different issuers: State Street and US Benchmark Series. Their fees differ too: 0.35% for XHB and 0.15% for UTHY.

Which has better risk-adjusted returns?

XHB currently has the higher Sharpe Ratio (0.35 vs 0.35), 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.