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XNAS.L vs. XUT3.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XNAS.L vs. XUT3.L

Last updated Jun 5, 2026

XNAS.L (Xtrackers NASDAQ 100 UCITS ETF) and XUT3.L (Xtrackers II US Treasuries 1-3 UCITS ETF 1D) are both exchange-traded funds - XNAS.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while XUT3.L is a Government Bonds fund tracking the iBoxx USD Treasuries 1-3 Index. Both are passively managed. Over the past 3 years, XNAS.L returned 28.10%/yr vs 4.17%/yr for XUT3.L. At a 0.04 correlation, their price movements are largely independent. XNAS.L charges 0.20%/yr vs 0.06%/yr for XUT3.L.

Performance

XNAS.L vs. XUT3.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers NASDAQ 100 UCITS ETF (XNAS.L) and Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XNAS.L achieves a 19.67% return, which is significantly higher than XUT3.L's 0.54% return.

XNAS.L

1D
-0.68%
1M
8.53%
YTD
19.67%
6M
19.16%
1Y
40.41%
3Y*
28.10%
5Y*
—
10Y*
—

XUT3.L

1D
0.10%
1M
0.12%
YTD
0.54%
6M
0.93%
1Y
3.45%
3Y*
4.17%
5Y*
1.86%
10Y*
1.74%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XNAS.L vs. XUT3.L - Yearly Performance Comparison

2026 (YTD)2025202420232022
XNAS.L
Xtrackers NASDAQ 100 UCITS ETF		19.67%19.83%26.60%56.41%-1.82%
XUT3.L
Xtrackers II US Treasuries 1-3 UCITS ETF 1D		0.54%5.06%4.13%4.10%1.05%

Correlation

The correlation between XNAS.L and XUT3.L is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.10

Correlation (3Y)
Calculated over the trailing 3-year period

0.03

Correlation (All Time)
Calculated using the full available price history since Oct 24, 2022

0.04

Compare stocks, funds, or ETFs

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Xtrackers NASDAQ 100 UCITS ETF

Xtrackers II US Treasuries 1-3 UCITS ETF 1D

Often compared with XNAS.L:
XNAS.L vs. CNDX.LXNAS.L vs. SXRV.DEXNAS.L vs. QQQMXNAS.L vs. EQQQ.LXNAS.L vs. CSNDX.MIXNAS.L vs. CNX1.LXNAS.L vs. NESG.L
Often compared with XUT3.L:
XUT3.L vs. BBRT.LXUT3.L vs. MUNI.LXUT3.L vs. CBU7.LXUT3.L vs. PR1T.LXUT3.L vs. VDTY.LXUT3.L vs. J13U.LXUT3.L vs. TRSX.L

Return for Risk

XNAS.L vs. XUT3.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XNAS.L
XNAS.L Risk / Return Rank: 7676
Overall Rank
XNAS.L Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
XNAS.L Sortino Ratio Rank: 7979
Sortino Ratio Rank
XNAS.L Omega Ratio Rank: 7575
Omega Ratio Rank
XNAS.L Calmar Ratio Rank: 7474
Calmar Ratio Rank
XNAS.L Martin Ratio Rank: 7171
Martin Ratio Rank
XUT3.L
XUT3.L Risk / Return Rank: 9191
Overall Rank
XUT3.L Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
XUT3.L Sortino Ratio Rank: 9595
Sortino Ratio Rank
XUT3.L Omega Ratio Rank: 9494
Omega Ratio Rank
XUT3.L Calmar Ratio Rank: 8888
Calmar Ratio Rank
XUT3.L Martin Ratio Rank: 8989
Martin Ratio Rank
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.

XNAS.L vs. XUT3.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers NASDAQ 100 UCITS ETF (XNAS.L) and Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.L). 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.

XNAS.LXUT3.LDifference
Sharpe ratioReturn per unit of total volatility
2.54
3.06

-0.52

Sortino ratioReturn per unit of downside risk
3.51
5.05

-1.54

Omega ratioGain probability vs. loss probability

1.44

1.67

-0.23

Calmar ratioReturn relative to maximum drawdown

3.67

5.10

-1.43

Martin ratioReturn relative to average drawdown

13.19

20.02

-6.83

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XNAS.L vs. XUT3.L - Sharpe Ratio Comparison

The current XNAS.L Sharpe Ratio is 2.54, which is comparable to the XUT3.L Sharpe Ratio of 3.06. The chart below compares the historical Sharpe Ratios of XNAS.L and XUT3.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

XNAS.LXUT3.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.54

3.06

-0.52

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.98

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

1.16

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.69

1.14

+0.55

Drawdowns

XNAS.L vs. XUT3.L - Drawdown Comparison

The maximum XNAS.L drawdown since its inception was -22.92%, which is greater than XUT3.L's maximum drawdown of -5.45%. Use the drawdown chart below to compare losses from any high point for XNAS.L and XUT3.L.

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Drawdown Indicators

XNAS.LXUT3.LDifference

Max Drawdown

Largest peak-to-trough decline

-22.92%

-5.45%

-17.47%

Max Drawdown (1Y)

Largest decline over 1 year

-10.91%

-0.67%

-10.24%

Max Drawdown (3Y)

Largest decline over 3 years

-22.92%

-0.91%

-22.01%

Max Drawdown (5Y)

Largest decline over 5 years

—

-5.45%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-5.45%

—

Current Drawdown

Current decline from peak

-0.76%

-0.12%

-0.64%

Average Drawdown

Average peak-to-trough decline

-3.03%

-0.72%

-2.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.05%

0.17%

+2.88%

Volatility

XNAS.L vs. XUT3.L - Volatility Comparison

Xtrackers NASDAQ 100 UCITS ETF (XNAS.L) has a higher volatility of 4.96% compared to Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.L) at 0.41%. This indicates that XNAS.L's price experiences larger fluctuations and is considered to be riskier than XUT3.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XNAS.LXUT3.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.96%

0.41%

+4.55%

Volatility (6M)

Calculated over the trailing 6-month period

11.72%

0.80%

+10.92%

Volatility (1Y)

Calculated over the trailing 1-year period

15.78%

1.13%

+14.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.39%

1.90%

+17.49%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.39%

1.50%

+17.89%

XNAS.L vs. XUT3.L - Expense Ratio Comparison

XNAS.L has a 0.20% expense ratio, which is higher than XUT3.L's 0.06% 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

XNAS.L vs. XUT3.L - Dividend Comparison

XNAS.L has not paid dividends to shareholders, while XUT3.L's dividend yield for the trailing twelve months is around 2.84%.

PositionTTM202520242023202220212020201920182017
XNAS.L
Xtrackers NASDAQ 100 UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XUT3.L
Xtrackers II US Treasuries 1-3 UCITS ETF 1D		2.84%2.70%2.35%1.80%1.00%2.89%2.43%1.16%1.00%0.69%

Frequently Asked Questions

XNAS.L and XUT3.L have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XUT3.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XUT3.L is cheaper with a 0.06% expense ratio, compared with 0.20% for XNAS.L.

XNAS.L is categorized as Nasdaq-100, while XUT3.L is Government Bonds. XNAS.L tracks NASDAQ-100 Index, while XUT3.L tracks iBoxx USD Treasuries 1-3 Index. Their fees differ too: 0.20% for XNAS.L and 0.06% for XUT3.L.

Portfolio Optimizer

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