XUTD.L vs. TFRN.L
XUTD.L (Xtrackers II US Treasuries UCITS ETF 1D) and TFRN.L (WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc) are both Government Bonds funds - XUTD.L tracks the iBoxx USD Treasuries Index while TFRN.L tracks the Bloomberg US Treasury Floating Rate Bond Index. Both are passively managed. Over the past 5 years, XUTD.L returned -0.36%/yr vs 3.65%/yr for TFRN.L. At a correlation of -0.00, they often move in opposite directions. XUTD.L charges 0.06%/yr vs 0.15%/yr for TFRN.L.
Performance
XUTD.L vs. TFRN.L - Performance Comparison
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Returns By Period
In the year-to-date period, XUTD.L achieves a 0.46% return, which is significantly lower than TFRN.L's 1.82% return.
XUTD.L
- 1D
- 0.14%
- 1M
- 1.11%
- YTD
- 0.46%
- 6M
- 0.84%
- 1Y
- 3.75%
- 3Y*
- 3.06%
- 5Y*
- -0.36%
- 10Y*
- 0.80%
TFRN.L
- 1D
- 0.02%
- 1M
- 0.33%
- YTD
- 1.82%
- 6M
- 1.75%
- 1Y
- 4.02%
- 3Y*
- 4.68%
- 5Y*
- 3.65%
- 10Y*
- —
XUTD.L vs. TFRN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XUTD.L Xtrackers II US Treasuries UCITS ETF 1D | 0.46% | 6.38% | 0.77% | 3.90% | -12.78% | -2.45% | 7.94% | 6.09% |
TFRN.L WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc | 1.82% | 4.10% | 5.44% | 4.94% | 2.04% | -0.15% | 0.57% | 1.59% |
Correlation
The correlation between XUTD.L and TFRN.L is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2019 | -0.00 |
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Return for Risk
XUTD.L vs. TFRN.L — Risk / Return Rank
XUTD.L
TFRN.L
XUTD.L vs. TFRN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II US Treasuries UCITS ETF 1D (XUTD.L) and WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc (TFRN.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.
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.
| XUTD.L | TFRN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.05 | ||
| Sortino ratioReturn per unit of downside risk | -1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.63 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | 1.22 | 4.10 | -2.88 |
| Martin ratioReturn relative to average drawdown | 3.46 | 35.75 | -32.28 |
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Drawdowns
XUTD.L vs. TFRN.L - Drawdown Comparison
The maximum XUTD.L drawdown since its inception was -19.61%, which is greater than TFRN.L's maximum drawdown of -3.10%. Use the drawdown chart below to compare losses from any high point for XUTD.L and TFRN.L.
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Drawdown Indicators
| XUTD.L | TFRN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.61% | -3.10% | -16.51% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -0.98% | -2.07% |
Max Drawdown (3Y)Largest decline over 3 years | -5.34% | -0.98% | -4.36% |
Max Drawdown (5Y)Largest decline over 5 years | -17.01% | -0.98% | -16.03% |
Max Drawdown (10Y)Largest decline over 10 years | -19.61% | — | — |
Current DrawdownCurrent decline from peak | -6.90% | 0.00% | -6.90% |
Average DrawdownAverage peak-to-trough decline | -4.86% | -0.09% | -4.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 0.11% | +0.97% |
Volatility
XUTD.L vs. TFRN.L - Volatility Comparison
Xtrackers II US Treasuries UCITS ETF 1D (XUTD.L) has a higher volatility of 1.00% compared to WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc (TFRN.L) at 0.14%. This indicates that XUTD.L's price experiences larger fluctuations and is considered to be riskier than TFRN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XUTD.L | TFRN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 0.14% | +0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 2.62% | 0.91% | +1.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.60% | 1.92% | +1.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.77% | 1.51% | +4.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.04% | 1.88% | +3.16% |
XUTD.L vs. TFRN.L - Expense Ratio Comparison
XUTD.L has a 0.06% expense ratio, which is lower than TFRN.L's 0.15% 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
XUTD.L vs. TFRN.L - Dividend Comparison
XUTD.L's dividend yield for the trailing twelve months is around 3.45%, while TFRN.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
TFRN.L WisdomTree USD Floating Rate Treasury Bond UCITS ETF - USD Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XUTD.L Xtrackers II US Treasuries UCITS ETF 1D | 3.45% | 3.27% | 3.65% | 2.39% | 1.95% | 3.42% | 1.08% | 1.47% | 1.35% | 1.34% | 2.12% |
Frequently Asked Questions
XUTD.L and TFRN.L have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUTD.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUTD.L is cheaper with a 0.06% expense ratio, compared with 0.15% for TFRN.L.
XUTD.L tracks iBoxx USD Treasuries Index, while TFRN.L tracks Bloomberg US Treasury Floating Rate Bond Index. They also come from different issuers: Xtrackers and WisdomTree. Their fees differ too: 0.06% for XUTD.L and 0.15% for TFRN.L.
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