XT01.L vs. XUT3.L
XT01.L (Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C) and XUT3.L (Xtrackers II US Treasuries 1-3 UCITS ETF 1D) are both Government Bonds funds from Xtrackers - XT01.L tracks the FTSE US Treasury Short Duration Index while XUT3.L tracks the iBoxx USD Treasuries 1-3 Index. Both are passively managed. Over the past 5 years, XT01.L returned 4.47%/yr vs 2.96%/yr for XUT3.L. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 0.06% expense ratio.
Performance
XT01.L vs. XUT3.L - Performance Comparison
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Different Trading Currencies
XT01.L is traded in GBP, while XUT3.L is traded in USD. To make them comparable, the XUT3.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 XUT3.L's 0.95% 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*
- —
XUT3.L
- 1D
- 0.10%
- 1M
- 1.04%
- YTD
- 0.95%
- 6M
- 0.23%
- 1Y
- 4.46%
- 3Y*
- 1.56%
- 5Y*
- 2.96%
- 10Y*
- 2.49%
XT01.L vs. XUT3.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% |
XUT3.L Xtrackers II US Treasuries 1-3 UCITS ETF 1D | 0.95% | -2.42% | 5.95% | -1.10% | 7.87% | 0.32% | -6.22% |
Correlation
The correlation between XT01.L and XUT3.L is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2020 | 0.79 |
The correlation between XT01.L and XUT3.L has been stable across timeframes, ranging from 0.77 to 0.79 - a consistent structural relationship.
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Return for Risk
XT01.L vs. XUT3.L — Risk / Return Rank
XT01.L
XUT3.L
XT01.L vs. XUT3.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 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.
| XT01.L | XUT3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.12 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 0.85 | +0.26 |
| Martin ratioReturn relative to average drawdown | 2.77 | 2.31 | +0.46 |
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
| XT01.L | XUT3.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.77 | 0.69 | +0.08 |
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 | 0.33 | -0.07 |
Drawdowns
XT01.L vs. XUT3.L - Drawdown Comparison
The maximum XT01.L drawdown since its inception was -15.31%, smaller than the maximum XUT3.L drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for XT01.L and XUT3.L.
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Drawdown Indicators
| XT01.L | XUT3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.31% | -18.58% | +3.27% |
Max Drawdown (1Y)Largest decline over 1 year | -4.48% | -5.21% | +0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -9.75% | -9.27% | -0.48% |
Max Drawdown (5Y)Largest decline over 5 years | -15.31% | -16.72% | +1.41% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.58% | — |
Current DrawdownCurrent decline from peak | -5.62% | -8.02% | +2.40% |
Average DrawdownAverage peak-to-trough decline | -7.30% | -8.22% | +0.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.80% | 1.92% | -0.12% |
Volatility
XT01.L vs. XUT3.L - Volatility Comparison
Xtrackers US Treasuries Ultrashort Bond UCITS ETF 1C (XT01.L) has a higher volatility of 1.90% compared to Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.L) at 1.65%. This indicates that XT01.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
| XT01.L | XUT3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.90% | 1.65% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 4.68% | 4.93% | -0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.44% | 6.41% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.37% | 8.22% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.34% | 9.43% | -1.09% |
XT01.L vs. XUT3.L - Expense Ratio Comparison
Both XT01.L and XUT3.L have an expense ratio of 0.06%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
XT01.L vs. XUT3.L - Dividend Comparison
XT01.L has not paid dividends to shareholders, while XUT3.L's dividend yield for the trailing twelve months is around 2.84%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
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
XT01.L and XUT3.L have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.06% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XT01.L and XUT3.L have the same expense ratio: 0.06% per year.
XT01.L tracks FTSE US Treasury Short Duration Index, while XUT3.L tracks iBoxx USD Treasuries 1-3 Index.
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