XTWO vs. ^CASHX

Last updated Apr 2, 2026

Compare and contrast key facts about Bondbloxx Bloomberg Two Year Target Duration US Treasury ETF (XTWO) and US Money Market Index (^CASHX).

XTWO is a passively managed fund by BondBloxx that tracks the performance of the Bloomberg US Treasury 2 Year Target Duration Index. It was launched on Sep 13, 2022.

Performance

XTWO vs. ^CASHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bondbloxx Bloomberg Two Year Target Duration US Treasury ETF (XTWO) and US Money Market Index (^CASHX). The values are adjusted to include any dividend payments, if applicable.

XTWO vs. ^CASHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XTWO Bondbloxx Bloomberg Two Year Target Duration US Treasury ETF	0.21%	5.17%	3.92%	4.27%	0.17%
^CASHX US Money Market Index	0.89%	4.21%	5.16%	5.03%	1.02%

Returns By Period

In the year-to-date period, XTWO achieves a 0.21% return, which is significantly lower than ^CASHX's 0.89% return.

XTWO

• 1D: -0.06%
• 1M: -0.39%
• YTD: 0.21%
• 6M: 1.18%
• 1Y: 3.66%
• 3Y*: 3.96%
• 5Y*: —
• 10Y*: —

^CASHX

• 1D: 0.01%
• 1M: 0.28%
• YTD: 0.89%
• 6M: 1.85%
• 1Y: 4.03%
• 3Y*: 4.72%
• 5Y*: 3.39%
• 10Y*: 2.26%

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

Return for Risk

XTWO vs. ^CASHX — Risk / Return Rank

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

XTWO

XTWO Risk / Return Rank: 95
XTWO Sharpe Ratio Rank: 94
XTWO Sortino Ratio Rank: 97
XTWO Omega Ratio Rank: 95
XTWO Calmar Ratio Rank: 94
XTWO Martin Ratio Rank: 93

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.

XTWO vs. ^CASHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bondbloxx Bloomberg Two Year Target Duration US Treasury ETF (XTWO) and US Money Market Index (^CASHX). 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.

	XTWO	^CASHX	Difference
Sharpe ratio Return per unit of total volatility	2.36	265.80	-263.45
Sortino ratio Return per unit of downside risk	3.73	—	—
Omega ratio Gain probability vs. loss probability	1.49	—	—
Calmar ratio Return relative to maximum drawdown	4.09	—	—
Martin ratio Return relative to average drawdown	14.75	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XTWO vs. ^CASHX - Sharpe Ratio Comparison

The current XTWO Sharpe Ratio is 2.36, which is lower than the ^CASHX Sharpe Ratio of 265.80. The chart below compares the historical Sharpe Ratios of XTWO and ^CASHX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XTWO	^CASHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	265.80	-263.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	33.37	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	23.27	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.77	25.97	-24.20

Correlation

The correlation between XTWO and ^CASHX is 0.01, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

XTWO vs. ^CASHX - Drawdown Comparison

The maximum XTWO drawdown since its inception was -1.73%, which is greater than ^CASHX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for XTWO and ^CASHX.

Drawdown Indicators

	XTWO	^CASHX	Difference
Max Drawdown Largest peak-to-trough decline	-1.73%	0.00%	-1.73%
Max Drawdown (1Y) Largest decline over 1 year	-0.91%	0.00%	-0.91%
Max Drawdown (5Y) Largest decline over 5 years	—	0.00%	—
Max Drawdown (10Y) Largest decline over 10 years	—	0.00%	—
Current Drawdown Current decline from peak	-0.58%	0.00%	-0.58%
Average Drawdown Average peak-to-trough decline	-0.40%	0.00%	-0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.25%	0.00%	+0.25%

Volatility

XTWO vs. ^CASHX - Volatility Comparison

Bondbloxx Bloomberg Two Year Target Duration US Treasury ETF (XTWO) has a higher volatility of 0.56% compared to US Money Market Index (^CASHX) at 0.00%. This indicates that XTWO's price experiences larger fluctuations and is considered to be riskier than ^CASHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XTWO	^CASHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.56%	0.00%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	0.91%	0.01%	+0.90%
Volatility (1Y) Calculated over the trailing 1-year period	1.56%	0.01%	+1.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.20%	0.08%	+2.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.20%	0.08%	+2.12%