XUT3.L vs. VUTY.L
XUT3.L (Xtrackers II US Treasuries 1-3 UCITS ETF 1D) and VUTY.L (Vanguard USD Treasury Bond UCITS ETF Distributing) are both Government Bonds funds - XUT3.L tracks the iBoxx USD Treasuries 1-3 Index while VUTY.L tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index. Both are passively managed. Over the past 10 years, XUT3.L returned 1.74%/yr vs 0.89%/yr for VUTY.L. At a 0.50 correlation, their price movements are largely independent. XUT3.L charges 0.06%/yr vs 0.05%/yr for VUTY.L.
Performance
XUT3.L vs. VUTY.L - Performance Comparison
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Different Trading Currencies
XUT3.L is traded in USD, while VUTY.L is traded in GBP. To make them comparable, the VUTY.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 higher than VUTY.L's -0.45% return. Over the past 10 years, XUT3.L has outperformed VUTY.L with an annualized return of 1.74%, while VUTY.L has yielded a comparatively lower 0.89% annualized 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%
VUTY.L
- 1D
- -0.29%
- 1M
- 0.02%
- YTD
- -0.45%
- 6M
- -0.06%
- 1Y
- 3.28%
- 3Y*
- 2.76%
- 5Y*
- -0.46%
- 10Y*
- 0.89%
XUT3.L vs. VUTY.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% | 0.27% |
VUTY.L Vanguard USD Treasury Bond UCITS ETF Distributing | -0.45% | 6.33% | 0.84% | 3.23% | -12.36% | -2.01% | 7.17% | 7.86% | 0.60% | 2.04% |
Correlation
The correlation between XUT3.L and VUTY.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2016 | 0.50 |
The correlation between XUT3.L and VUTY.L shifts across timeframes, from 0.40 (1 year) to 0.57 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
XUT3.L vs. VUTY.L — Risk / Return Rank
XUT3.L
VUTY.L
XUT3.L vs. VUTY.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 Vanguard USD Treasury Bond UCITS ETF Distributing (VUTY.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 | VUTY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.33 | ||
| Sortino ratioReturn per unit of downside risk | +3.93 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.12 | +0.54 |
| Calmar ratioReturn relative to maximum drawdown | 5.10 | 1.19 | +3.91 |
| Martin ratioReturn relative to average drawdown | 20.02 | 3.50 | +16.52 |
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 | VUTY.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.06 | 0.73 | +2.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.98 | -0.07 | +1.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.16 | 0.13 | +1.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.14 | 0.13 | +1.01 |
Drawdowns
XUT3.L vs. VUTY.L - Drawdown Comparison
The maximum XUT3.L drawdown since its inception was -5.45%, smaller than the maximum VUTY.L drawdown of -19.23%. Use the drawdown chart below to compare losses from any high point for XUT3.L and VUTY.L.
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Drawdown Indicators
| XUT3.L | VUTY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.45% | -19.23% | +13.78% |
Max Drawdown (1Y)Largest decline over 1 year | -0.67% | -3.02% | +2.35% |
Max Drawdown (3Y)Largest decline over 3 years | -0.91% | -5.45% | +4.54% |
Max Drawdown (5Y)Largest decline over 5 years | -5.45% | -16.66% | +11.21% |
Max Drawdown (10Y)Largest decline over 10 years | -5.45% | -19.23% | +13.78% |
Current DrawdownCurrent decline from peak | -0.12% | -7.67% | +7.55% |
Average DrawdownAverage peak-to-trough decline | -0.72% | -6.93% | +6.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.17% | 1.03% | -0.86% |
Volatility
XUT3.L vs. VUTY.L - Volatility Comparison
The current volatility for Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.L) is 0.41%, while Vanguard USD Treasury Bond UCITS ETF Distributing (VUTY.L) has a volatility of 1.54%. This indicates that XUT3.L experiences smaller price fluctuations and is considered to be less risky than VUTY.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 | VUTY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 1.54% | -1.13% |
Volatility (6M)Calculated over the trailing 6-month period | 0.80% | 3.61% | -2.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.13% | 4.95% | -3.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.90% | 7.03% | -5.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.50% | 6.79% | -5.29% |
XUT3.L vs. VUTY.L - Expense Ratio Comparison
XUT3.L has a 0.06% expense ratio, which is higher than VUTY.L's 0.05% expense ratio. However, 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. VUTY.L - Dividend Comparison
XUT3.L's dividend yield for the trailing twelve months is around 2.84%, less than VUTY.L's 4.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
VUTY.L Vanguard USD Treasury Bond UCITS ETF Distributing | 4.27% | 4.40% | 4.00% | 3.47% | 2.06% | 1.19% | 1.64% | 2.42% | 2.24% | 1.64% | 0.92% |
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% | 0.00% |
Frequently Asked Questions
XUT3.L and VUTY.L have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VUTY.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUTY.L is cheaper with a 0.05% expense ratio, compared with 0.06% for XUT3.L.
XUT3.L tracks iBoxx USD Treasuries 1-3 Index, while VUTY.L tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index. They also come from different issuers: Xtrackers and Vanguard. Their fees differ too: 0.06% for XUT3.L and 0.05% for VUTY.L.
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