XUT3.L vs. IBTA.L
XUT3.L (Xtrackers II US Treasuries 1-3 UCITS ETF 1D) and IBTA.L (iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)) are both Government Bonds funds - XUT3.L tracks the iBoxx USD Treasuries 1-3 Index while IBTA.L tracks the ICE US Treasury 1-3 Year Index. Both are passively managed. Over the past 5 years, XUT3.L returned 1.86%/yr vs 1.87%/yr for IBTA.L. Their correlation of 0.81 suggests significant overlap in exposure. XUT3.L charges 0.06%/yr vs 0.07%/yr for IBTA.L.
Performance
XUT3.L vs. IBTA.L - Performance Comparison
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Returns By Period
In the year-to-date period, XUT3.L achieves a 0.54% return, which is significantly higher than IBTA.L's 0.46% 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%
IBTA.L
- 1D
- 0.13%
- 1M
- 0.13%
- YTD
- 0.46%
- 6M
- 0.92%
- 1Y
- 3.43%
- 3Y*
- 4.23%
- 5Y*
- 1.87%
- 10Y*
- —
XUT3.L vs. IBTA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XUT3.L Xtrackers II US Treasuries 1-3 UCITS ETF 1D | 0.54% | 5.06% | 4.13% | 4.10% | -3.60% | -0.62% | 2.95% | 3.56% | 1.44% | -0.10% |
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 0.46% | 5.30% | 4.11% | 4.15% | -3.75% | -0.64% | 3.14% | 3.58% | 1.44% | -0.05% |
Correlation
The correlation between XUT3.L and IBTA.L is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2017 | 0.81 |
The correlation between XUT3.L and IBTA.L has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.
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Return for Risk
XUT3.L vs. IBTA.L — Risk / Return Rank
XUT3.L
IBTA.L
XUT3.L vs. IBTA.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 iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.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 | IBTA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.59 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 5.10 | 4.62 | +0.48 |
| Martin ratioReturn relative to average drawdown | 20.02 | 17.47 | +2.55 |
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 | IBTA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.06 | 2.80 | +0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.98 | 0.93 | +0.05 |
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 | 1.08 | +0.05 |
Drawdowns
XUT3.L vs. IBTA.L - Drawdown Comparison
The maximum XUT3.L drawdown since its inception was -5.45%, smaller than the maximum IBTA.L drawdown of -5.80%. Use the drawdown chart below to compare losses from any high point for XUT3.L and IBTA.L.
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Drawdown Indicators
| XUT3.L | IBTA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.45% | -5.80% | +0.35% |
Max Drawdown (1Y)Largest decline over 1 year | -0.67% | -0.74% | +0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -0.91% | -0.89% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -5.45% | -5.70% | +0.25% |
Max Drawdown (10Y)Largest decline over 10 years | -5.45% | — | — |
Current DrawdownCurrent decline from peak | -0.12% | -0.13% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -0.72% | -0.97% | +0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.17% | 0.20% | -0.03% |
Volatility
XUT3.L vs. IBTA.L - Volatility Comparison
Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.L) and iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) have volatilities of 0.41% and 0.43%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XUT3.L | IBTA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 0.43% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 0.80% | 0.86% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.13% | 1.23% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.90% | 2.00% | -0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.50% | 1.76% | -0.26% |
XUT3.L vs. IBTA.L - Expense Ratio Comparison
XUT3.L has a 0.06% expense ratio, which is lower than IBTA.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. IBTA.L - Dividend Comparison
XUT3.L's dividend yield for the trailing twelve months is around 2.84%, while IBTA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (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 IBTA.L have a correlation of 0.81, 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 IBTA.L.
XUT3.L tracks iBoxx USD Treasuries 1-3 Index, while IBTA.L tracks ICE US Treasury 1-3 Year Index. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.06% for XUT3.L and 0.07% for IBTA.L.
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