XT01.L vs. CU31.L
XT01.L (Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C) and CU31.L (iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)) are both Government Bonds funds - XT01.L tracks the FTSE US Treasury Short Duration Index while CU31.L tracks the ICE US Treasury 1-3 Year Index. Both are passively managed. Over the past 5 years, XT01.L returned 4.47%/yr vs 2.92%/yr for CU31.L. With a 0.98 correlation, they move nearly in lockstep. XT01.L charges 0.06%/yr vs 0.07%/yr for CU31.L.
Performance
XT01.L vs. CU31.L - Performance Comparison
Loading charts...
Different Trading Currencies
XT01.L is traded in GBP, while CU31.L is traded in GBp. To make them comparable, the CU31.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, XT01.L achieves a 1.60% return, which is significantly higher than CU31.L's 0.66% return.
XT01.L
- 1D
- 0.10%
- 1M
- 1.28%
- YTD
- 1.60%
- 6M
- 1.14%
- 1Y
- 4.98%
- 3Y*
- 2.01%
- 5Y*
- 4.47%
- 10Y*
- —
CU31.L
- 1D
- 0.11%
- 1M
- 1.13%
- YTD
- 0.66%
- 6M
- 0.30%
- 1Y
- 4.42%
- 3Y*
- 1.49%
- 5Y*
- 2.92%
- 10Y*
- 2.48%
XT01.L vs. CU31.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XT01.L Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C | 1.60% | -2.80% | 6.91% | -0.75% | 12.89% | 1.36% | -5.72% |
CU31.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 0.66% | -1.98% | 5.81% | -1.58% | 7.82% | 0.48% | -5.65% |
Correlation
The correlation between XT01.L and CU31.L is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2020 | 0.98 |
The correlation between XT01.L and CU31.L has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XT01.L vs. CU31.L — Risk / Return Rank
XT01.L
CU31.L
XT01.L vs. CU31.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C (XT01.L) and iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (CU31.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.
| XT01.L | CU31.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.12 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 0.97 | +0.13 |
| Martin ratioReturn relative to average drawdown | 2.77 | 2.47 | +0.30 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| XT01.L | CU31.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.77 | 0.72 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.36 | +0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.27 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.28 | -0.02 |
Drawdowns
XT01.L vs. CU31.L - Drawdown Comparison
The maximum XT01.L drawdown since its inception was -15.31%, smaller than the maximum CU31.L drawdown of -18.80%. Use the drawdown chart below to compare losses from any high point for XT01.L and CU31.L.
Loading charts...
Drawdown Indicators
| XT01.L | CU31.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.31% | -18.80% | +3.49% |
Max Drawdown (1Y)Largest decline over 1 year | -4.48% | -4.51% | +0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -9.75% | -8.91% | -0.84% |
Max Drawdown (5Y)Largest decline over 5 years | -15.31% | -16.29% | +0.98% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.80% | — |
Current DrawdownCurrent decline from peak | -5.62% | -7.61% | +1.99% |
Average DrawdownAverage peak-to-trough decline | -7.30% | -8.23% | +0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.80% | 1.78% | +0.02% |
Volatility
XT01.L vs. CU31.L - Volatility Comparison
Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C (XT01.L) has a higher volatility of 1.90% compared to iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (CU31.L) at 1.63%. This indicates that XT01.L's price experiences larger fluctuations and is considered to be riskier than CU31.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XT01.L | CU31.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.90% | 1.63% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 4.68% | 4.46% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.44% | 6.11% | +0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.37% | 8.05% | +0.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.34% | 9.19% | -0.85% |
XT01.L vs. CU31.L - Expense Ratio Comparison
XT01.L has a 0.06% expense ratio, which is lower than CU31.L's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XT01.L vs. CU31.L - Dividend Comparison
Neither XT01.L nor CU31.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, XT01.L and CU31.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, XT01.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XT01.L is cheaper with a 0.06% expense ratio, compared with 0.07% for CU31.L.
XT01.L tracks FTSE US Treasury Short Duration Index, while CU31.L tracks ICE US Treasury 1-3 Year Index. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.06% for XT01.L and 0.07% for CU31.L.
Find the right allocation for XT01.L and CU31.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer