XTEN vs. THRO
XTEN (BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF) and THRO (iShares U.S. Thematic Rotation Active ETF) are both exchange-traded funds - XTEN is a Government Bonds fund tracking the Bloomberg US Treasury 10 Year Target Duration Index, while THRO is a Tactical Allocation fund actively managed by iShares. XTEN is passively managed, while THRO is actively managed. Over the past 3 years, XTEN returned 1.73%/yr vs 24.41%/yr for THRO. At a 0.11 correlation, their price movements are largely independent. XTEN charges 0.07%/yr vs 0.60%/yr for THRO.
Performance
XTEN vs. THRO - Performance Comparison
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Returns By Period
In the year-to-date period, XTEN achieves a -0.54% return, which is significantly lower than THRO's 12.78% return.
XTEN
- 1D
- -0.35%
- 1M
- 0.25%
- YTD
- -0.54%
- 6M
- -1.22%
- 1Y
- 4.81%
- 3Y*
- 1.73%
- 5Y*
- —
- 10Y*
- —
THRO
- 1D
- -0.55%
- 1M
- 6.78%
- YTD
- 12.78%
- 6M
- 12.56%
- 1Y
- 26.45%
- 3Y*
- 24.41%
- 5Y*
- —
- 10Y*
- —
XTEN vs. THRO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XTEN BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF | -0.54% | 7.37% | -2.15% | 4.00% | -2.94% |
THRO iShares U.S. Thematic Rotation Active ETF | 12.78% | 15.04% | 32.03% | 24.40% | 2.60% |
Correlation
The correlation between XTEN and THRO is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2022 | 0.11 |
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Return for Risk
XTEN vs. THRO — Risk / Return Rank
XTEN
THRO
XTEN vs. THRO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF (XTEN) and iShares U.S. Thematic Rotation Active ETF (THRO). 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.
| XTEN | THRO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.29 | ||
| Sortino ratioReturn per unit of downside risk | -1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.36 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.89 | 2.44 | -1.55 |
| Martin ratioReturn relative to average drawdown | 2.59 | 10.84 | -8.25 |
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
| XTEN | THRO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.75 | 2.05 | -1.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 0.75 | -0.60 |
Drawdowns
XTEN vs. THRO - Drawdown Comparison
The maximum XTEN drawdown since its inception was -13.86%, smaller than the maximum THRO drawdown of -26.54%. Use the drawdown chart below to compare losses from any high point for XTEN and THRO.
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Drawdown Indicators
| XTEN | THRO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.86% | -26.54% | +12.68% |
Max Drawdown (1Y)Largest decline over 1 year | -5.42% | -10.87% | +5.45% |
Max Drawdown (3Y)Largest decline over 3 years | -11.15% | -19.07% | +7.92% |
Current DrawdownCurrent decline from peak | -3.51% | -0.55% | -2.96% |
Average DrawdownAverage peak-to-trough decline | -4.03% | -6.69% | +2.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | 2.45% | -0.59% |
Volatility
XTEN vs. THRO - Volatility Comparison
The current volatility for BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF (XTEN) is 2.05%, while iShares U.S. Thematic Rotation Active ETF (THRO) has a volatility of 3.47%. This indicates that XTEN experiences smaller price fluctuations and is considered to be less risky than THRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XTEN | THRO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.05% | 3.47% | -1.42% |
Volatility (6M)Calculated over the trailing 6-month period | 4.41% | 10.09% | -5.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.41% | 13.00% | -6.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.56% | 18.72% | -9.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.56% | 18.72% | -9.16% |
XTEN vs. THRO - Expense Ratio Comparison
XTEN has a 0.08% expense ratio, which is lower than THRO's 0.60% expense ratio.
Dividends
XTEN vs. THRO - Dividend Comparison
XTEN's dividend yield for the trailing twelve months is around 4.40%, more than THRO's 0.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
THRO iShares U.S. Thematic Rotation Active ETF | 0.16% | 0.15% | 0.73% | 0.55% | 0.90% |
XTEN BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF | 4.40% | 4.05% | 4.21% | 3.71% | 1.04% |
Frequently Asked Questions
XTEN and THRO have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
THRO has higher volatility (3.47%) compared to XTEN (2.05%). In terms of maximum drawdown, XTEN dropped -13.86% vs THRO's -26.54%.
On 3-year performance, THRO leads with 24.41% vs 1.73% for XTEN. On fees, XTEN is cheaper at 0.07% per year. On volatility, XTEN has been the lower-risk option at 2.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, THRO has performed better with a 24.41% return vs 1.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XTEN is cheaper with a 0.07% expense ratio, compared with 0.60% for THRO.
XTEN has the higher dividend yield at 4.40%, compared with 0.16% for THRO.
XTEN is categorized as Government Bonds, while THRO is Tactical Allocation. They also come from different issuers: BondBloxx and iShares. Their fees differ too: 0.07% for XTEN and 0.60% for THRO.
THRO currently has the higher Sharpe Ratio (2.05 vs 0.75), 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.
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