XTRE vs. XTWO
XTRE (BondBloxx Bloomberg Three Year Target Duration US Treasury ETF) and XTWO (BondBloxx Bloomberg Two Year Target Duration US Treasury ETF) are both Government Bonds funds from BondBloxx - XTRE tracks the Bloomberg US Treasury 3 Year Target Duration Index while XTWO tracks the Bloomberg US Treasury 2 Year Target Duration Index. Both are passively managed. Over the past 3 years, XTRE returned 3.97%/yr vs 4.19%/yr for XTWO. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.05% expense ratio.
Performance
XTRE vs. XTWO - Performance Comparison
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Returns By Period
In the year-to-date period, XTRE achieves a -0.19% return, which is significantly lower than XTWO's 0.40% return.
XTRE
- 1D
- -0.17%
- 1M
- 0.09%
- YTD
- -0.19%
- 6M
- -0.09%
- 1Y
- 2.71%
- 3Y*
- 3.97%
- 5Y*
- —
- 10Y*
- —
XTWO
- 1D
- 0.08%
- 1M
- 0.15%
- YTD
- 0.40%
- 6M
- 0.60%
- 1Y
- 2.95%
- 3Y*
- 4.19%
- 5Y*
- —
- 10Y*
- —
XTRE vs. XTWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XTRE BondBloxx Bloomberg Three Year Target Duration US Treasury ETF | -0.19% | 6.05% | 3.05% | 4.44% | -0.00% |
XTWO BondBloxx Bloomberg Two Year Target Duration US Treasury ETF | 0.40% | 5.17% | 3.92% | 4.27% | 0.14% |
Correlation
The correlation between XTRE and XTWO is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2022 | 0.96 |
The correlation between XTRE and XTWO has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
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Return for Risk
XTRE vs. XTWO — Risk / Return Rank
XTRE
XTWO
XTRE vs. XTWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg Three Year Target Duration US Treasury ETF (XTRE) and BondBloxx Bloomberg Two Year Target Duration US Treasury ETF (XTWO). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| XTRE | XTWO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.43 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 3.26 | -1.47 |
| Martin ratioReturn relative to average drawdown | 4.71 | 11.12 | -6.41 |
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Drawdowns
XTRE vs. XTWO - Drawdown Comparison
The maximum XTRE drawdown since its inception was -2.89%, which is greater than XTWO's maximum drawdown of -1.73%. Use the drawdown chart below to compare losses from any high point for XTRE and XTWO.
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Drawdown Indicators
| XTRE | XTWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.89% | -1.73% | -1.16% |
Max Drawdown (1Y)Largest decline over 1 year | -1.53% | -0.91% | -0.62% |
Max Drawdown (3Y)Largest decline over 3 years | -2.00% | -1.18% | -0.82% |
Current DrawdownCurrent decline from peak | -1.26% | -0.39% | -0.87% |
Average DrawdownAverage peak-to-trough decline | -0.83% | -0.40% | -0.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 0.27% | +0.31% |
Volatility
XTRE vs. XTWO - Volatility Comparison
BondBloxx Bloomberg Three Year Target Duration US Treasury ETF (XTRE) has a higher volatility of 0.72% compared to BondBloxx Bloomberg Two Year Target Duration US Treasury ETF (XTWO) at 0.49%. This indicates that XTRE's price experiences larger fluctuations and is considered to be riskier than XTWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XTRE | XTWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 0.49% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 1.59% | 1.02% | +0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.16% | 1.40% | +0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.31% | 2.16% | +1.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.31% | 2.16% | +1.15% |
XTRE vs. XTWO - Expense Ratio Comparison
Both XTRE and XTWO have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
XTRE vs. XTWO - Dividend Comparison
XTRE's dividend yield for the trailing twelve months is around 4.01%, which matches XTWO's 4.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
XTRE BondBloxx Bloomberg Three Year Target Duration US Treasury ETF | 4.01% | 3.85% | 4.19% | 3.97% | 1.16% |
XTWO BondBloxx Bloomberg Two Year Target Duration US Treasury ETF | 4.05% | 4.24% | 4.54% | 4.07% | 1.13% |
Frequently Asked Questions
With a correlation of 0.96, XTRE and XTWO 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.
XTRE has higher volatility (0.72%) compared to XTWO (0.49%). In terms of maximum drawdown, XTRE dropped -2.89% vs XTWO's -1.73%.
On 3-year performance, XTWO leads with 4.19% vs 3.97% for XTRE. Both ETFs have the same 0.05% expense ratio. On volatility, XTWO has been the lower-risk option at 0.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XTWO has performed better with a 4.19% return vs 3.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XTRE and XTWO have the same expense ratio: 0.05% per year.
XTWO has the higher dividend yield at 4.05%, compared with 4.01% for XTRE.
XTRE tracks Bloomberg US Treasury 3 Year Target Duration Index, while XTWO tracks Bloomberg US Treasury 2 Year Target Duration Index.
XTWO currently has the higher Sharpe Ratio (2.13 vs 1.26), 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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