XUT3.L vs. BBM3.L
XUT3.L (Xtrackers II US Treasuries 1-3 UCITS ETF 1D) and BBM3.L (JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc)) are both Government Bonds funds - XUT3.L tracks the iBoxx USD Treasuries 1-3 Index while BBM3.L tracks the ICE 0-3 Month US Treasury Notes & Bills Index. Both are passively managed. Over the past 5 years, XUT3.L returned 1.86%/yr vs 3.46%/yr for BBM3.L. At a correlation of -0.04, they often move in opposite directions. XUT3.L charges 0.06%/yr vs 0.07%/yr for BBM3.L.
Performance
XUT3.L vs. BBM3.L - Performance Comparison
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Different Trading Currencies
XUT3.L is traded in USD, while BBM3.L is traded in GBP. To make them comparable, the BBM3.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XUT3.L achieves a 0.54% return, which is significantly lower than BBM3.L's 1.39% return.
XUT3.L
- 1D
- 0.10%
- 1M
- 0.12%
- YTD
- 0.54%
- 6M
- 0.93%
- 1Y
- 3.45%
- 3Y*
- 4.17%
- 5Y*
- 1.86%
- 10Y*
- 1.74%
BBM3.L
- 1D
- 0.14%
- 1M
- 0.46%
- YTD
- 1.39%
- 6M
- 1.93%
- 1Y
- 3.93%
- 3Y*
- 4.60%
- 5Y*
- 3.46%
- 10Y*
- —
XUT3.L vs. BBM3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XUT3.L Xtrackers II US Treasuries 1-3 UCITS ETF 1D | 0.54% | 5.06% | 4.13% | 4.10% | -3.60% | -0.60% |
BBM3.L JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) | 1.39% | 4.37% | 5.25% | 4.45% | 1.77% | -0.33% |
Correlation
The correlation between XUT3.L and BBM3.L is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021 | -0.04 |
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Return for Risk
XUT3.L vs. BBM3.L — Risk / Return Rank
XUT3.L
BBM3.L
XUT3.L vs. BBM3.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.L) and JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.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.
| XUT3.L | BBM3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.11 | ||
| Sortino ratioReturn per unit of downside risk | +3.62 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.17 | +0.50 |
| Calmar ratioReturn relative to maximum drawdown | 5.10 | 4.76 | +0.34 |
| Martin ratioReturn relative to average drawdown | 20.02 | 13.27 | +6.75 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XUT3.L | BBM3.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.06 | 0.95 | +2.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.98 | 0.73 | +0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.16 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.14 | 0.67 | +0.47 |
Drawdowns
XUT3.L vs. BBM3.L - Drawdown Comparison
The maximum XUT3.L drawdown since its inception was -5.45%, which is greater than BBM3.L's maximum drawdown of -2.44%. Use the drawdown chart below to compare losses from any high point for XUT3.L and BBM3.L.
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Drawdown Indicators
| XUT3.L | BBM3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.45% | -2.44% | -3.01% |
Max Drawdown (1Y)Largest decline over 1 year | -0.67% | -0.82% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -0.91% | -1.11% | +0.20% |
Max Drawdown (5Y)Largest decline over 5 years | -5.45% | -2.44% | -3.01% |
Max Drawdown (10Y)Largest decline over 10 years | -5.45% | — | — |
Current DrawdownCurrent decline from peak | -0.12% | -0.17% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -0.72% | -0.41% | -0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.17% | 0.30% | -0.13% |
Volatility
XUT3.L vs. BBM3.L - Volatility Comparison
The current volatility for Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.L) is 0.41%, while JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) (BBM3.L) has a volatility of 1.44%. This indicates that XUT3.L experiences smaller price fluctuations and is considered to be less risky than BBM3.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XUT3.L | BBM3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 1.44% | -1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 0.80% | 3.42% | -2.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.13% | 4.12% | -2.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.90% | 4.76% | -2.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.50% | 4.76% | -3.26% |
XUT3.L vs. BBM3.L - Expense Ratio Comparison
XUT3.L has a 0.06% expense ratio, which is lower than BBM3.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
XUT3.L vs. BBM3.L - Dividend Comparison
XUT3.L's dividend yield for the trailing twelve months is around 2.84%, while BBM3.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BBM3.L JPMorgan BetaBuilders US Treasury Bond 0-3 Months UCITS ETF USD (Acc) | 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
XUT3.L and BBM3.L have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUT3.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUT3.L is cheaper with a 0.06% expense ratio, compared with 0.07% for BBM3.L.
XUT3.L tracks iBoxx USD Treasuries 1-3 Index, while BBM3.L tracks ICE 0-3 Month US Treasury Notes & Bills Index. They also come from different issuers: Xtrackers and JPMorgan. Their fees differ too: 0.06% for XUT3.L and 0.07% for BBM3.L.
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