XT01.L vs. IBTS.L

Last updated Jun 5, 2026

XT01.L (Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C) and IBTS.L (iShares $ Treasury Bond 1-3yr UCITS ETF) are both Government Bonds funds - XT01.L tracks the FTSE US Treasury Short Duration Index while IBTS.L tracks the ICE U.S. Treasury 1-3 Year Bond Index. Both are passively managed. Over the past 5 years, XT01.L returned 4.47%/yr vs 2.95%/yr for IBTS.L. With a 0.97 correlation, they move nearly in lockstep. XT01.L charges 0.06%/yr vs 0.07%/yr for IBTS.L.

Performance

XT01.L vs. IBTS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C (XT01.L) and iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XT01.L achieves a 1.60% return, which is significantly higher than IBTS.L's 0.65% 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*: —

IBTS.L

• 1D: 0.14%
• 1M: 1.13%
• YTD: 0.65%
• 6M: 0.29%
• 1Y: 4.47%
• 3Y*: 1.53%
• 5Y*: 2.95%
• 10Y*: 2.52%

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

XT01.L vs. IBTS.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%
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF	0.65%	-1.91%	5.79%	-1.41%	7.61%	0.64%	-5.64%

Correlation

The correlation between XT01.L and IBTS.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	0.97

The correlation between XT01.L and IBTS.L has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

XT01.L vs. IBTS.L — Risk / Return Rank

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

XT01.L

XT01.L Risk / Return Rank: 23
XT01.L Sharpe Ratio Rank: 23
XT01.L Sortino Ratio Rank: 22
XT01.L Omega Ratio Rank: 21
XT01.L Calmar Ratio Rank: 24
XT01.L Martin Ratio Rank: 22

IBTS.L

IBTS.L Risk / Return Rank: 22
IBTS.L Sharpe Ratio Rank: 22
IBTS.L Sortino Ratio Rank: 21
IBTS.L Omega Ratio Rank: 20
IBTS.L Calmar Ratio Rank: 22
IBTS.L Martin Ratio Rank: 21

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.

XT01.L vs. IBTS.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 $ Treasury Bond 1-3yr UCITS ETF (IBTS.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	IBTS.L	Difference
Sharpe ratio: Return per unit of total volatility	0.77	0.73	+0.04
Sortino ratio: Return per unit of downside risk	1.15	1.10	+0.05
Omega ratio: Gain probability vs. loss probability	1.13	1.13	+0.01
Calmar ratio: Return relative to maximum drawdown	1.11	0.99	+0.12
Martin ratio: Return relative to average drawdown	2.77	2.51	+0.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XT01.L vs. IBTS.L - Sharpe Ratio Comparison

The current XT01.L Sharpe Ratio is 0.77, which is comparable to the IBTS.L Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of XT01.L and IBTS.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.

Sharpe Ratios by Period

	XT01.L	IBTS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.77	0.73	+0.04
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	0.35	-0.09

Drawdowns

XT01.L vs. IBTS.L - Drawdown Comparison

The maximum XT01.L drawdown since its inception was -15.31%, smaller than the maximum IBTS.L drawdown of -19.02%. Use the drawdown chart below to compare losses from any high point for XT01.L and IBTS.L.

Drawdown Indicators

	XT01.L	IBTS.L	Difference
Max Drawdown Largest peak-to-trough decline	-15.31%	-19.02%	+3.71%
Max Drawdown (1Y) Largest decline over 1 year	-4.48%	-4.51%	+0.03%
Max Drawdown (3Y) Largest decline over 3 years	-9.75%	-8.89%	-0.86%
Max Drawdown (5Y) Largest decline over 5 years	-15.31%	-16.28%	+0.97%
Max Drawdown (10Y) Largest decline over 10 years	—	-19.02%	—
Current Drawdown Current decline from peak	-5.62%	-7.51%	+1.89%
Average Drawdown Average peak-to-trough decline	-7.30%	-7.93%	+0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	1.78%	+0.02%

Volatility

XT01.L vs. IBTS.L - Volatility Comparison

Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C (XT01.L) has a higher volatility of 1.90% compared to iShares $ Treasury Bond 1-3yr UCITS ETF (IBTS.L) at 1.67%. This indicates that XT01.L's price experiences larger fluctuations and is considered to be riskier than IBTS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XT01.L	IBTS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.90%	1.67%	+0.23%
Volatility (6M) Calculated over the trailing 6-month period	4.68%	4.49%	+0.19%
Volatility (1Y) Calculated over the trailing 1-year period	6.44%	6.09%	+0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.37%	8.09%	+0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.34%	9.24%	-0.90%

XT01.L vs. IBTS.L - Expense Ratio Comparison

XT01.L has a 0.06% expense ratio, which is lower than IBTS.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. IBTS.L - Dividend Comparison

XT01.L has not paid dividends to shareholders, while IBTS.L's dividend yield for the trailing twelve months is around 3.99%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBTS.L iShares $ Treasury Bond 1-3yr UCITS ETF	3.99%	4.22%	4.12%	3.08%	0.75%	0.61%	1.84%	2.39%	1.49%	1.01%	0.67%	0.49%
XT01.L Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XT01.L and IBTS.L in my portfolio?

With a correlation of 0.98, XT01.L and IBTS.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.

Which ETF is better, XT01.L or IBTS.L?

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.

Which ETF is cheaper, XT01.L or IBTS.L?

XT01.L is cheaper with a 0.06% expense ratio, compared with 0.07% for IBTS.L.

What is the main difference between XT01.L and IBTS.L?

XT01.L tracks FTSE US Treasury Short Duration Index, while IBTS.L tracks ICE U.S. Treasury 1-3 Year Bond Index. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.06% for XT01.L and 0.07% for IBTS.L.