XUTD.L vs. TSY3.L
XUTD.L (Xtrackers II US Treasuries UCITS ETF 1D) and TSY3.L (SPDR Bloomberg 1-3 Year US Treasury Bond UCITS ETF) are both Government Bonds funds - XUTD.L tracks the iBoxx USD Treasuries Index while TSY3.L tracks the Bloomberg US 1-3 Year Treasury Bond Index. Both are passively managed. Over the past 10 years, XUTD.L returned 0.90%/yr vs 1.70%/yr for TSY3.L. At a 0.17 correlation, their price movements are largely independent. XUTD.L charges 0.06%/yr vs 0.05%/yr for TSY3.L.
Performance
XUTD.L vs. TSY3.L - Performance Comparison
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Different Trading Currencies
XUTD.L is traded in USD, while TSY3.L is traded in GBP. To make them comparable, the TSY3.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, XUTD.L achieves a -0.22% return, which is significantly lower than TSY3.L's 0.47% return. Over the past 10 years, XUTD.L has underperformed TSY3.L with an annualized return of 0.90%, while TSY3.L has yielded a comparatively higher 1.70% annualized return.
XUTD.L
- 1D
- 0.20%
- 1M
- 0.21%
- YTD
- -0.22%
- 6M
- 0.03%
- 1Y
- 3.70%
- 3Y*
- 2.89%
- 5Y*
- -0.44%
- 10Y*
- 0.90%
TSY3.L
- 1D
- 0.15%
- 1M
- 0.24%
- YTD
- 0.47%
- 6M
- 1.06%
- 1Y
- 3.44%
- 3Y*
- 4.11%
- 5Y*
- 1.79%
- 10Y*
- 1.70%
XUTD.L vs. TSY3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XUTD.L Xtrackers II US Treasuries UCITS ETF 1D | -0.22% | 6.38% | 0.77% | 3.91% | -12.78% | -2.45% | 7.94% | 7.21% | 0.66% | 2.22% |
TSY3.L SPDR Bloomberg 1-3 Year US Treasury Bond UCITS ETF | 0.47% | 5.39% | 4.03% | 3.54% | -3.91% | -0.41% | 2.59% | 4.24% | 1.20% | 0.05% |
Correlation
The correlation between XUTD.L and TSY3.L is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2013 | 0.17 |
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Return for Risk
XUTD.L vs. TSY3.L — Risk / Return Rank
XUTD.L
TSY3.L
XUTD.L vs. TSY3.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 SPDR Bloomberg 1-3 Year US Treasury Bond UCITS ETF (TSY3.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.
| XUTD.L | TSY3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.14 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 3.12 | -1.92 |
| Martin ratioReturn relative to average drawdown | 3.71 | 9.53 | -5.82 |
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
| XUTD.L | TSY3.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.01 | 0.82 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.08 | 0.35 | -0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.18 | 0.33 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.30 | +0.13 |
Drawdowns
XUTD.L vs. TSY3.L - Drawdown Comparison
The maximum XUTD.L drawdown since its inception was -19.61%, which is greater than TSY3.L's maximum drawdown of -7.43%. Use the drawdown chart below to compare losses from any high point for XUTD.L and TSY3.L.
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Drawdown Indicators
| XUTD.L | TSY3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.61% | -7.43% | -12.18% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -1.10% | -1.95% |
Max Drawdown (3Y)Largest decline over 3 years | -5.47% | -1.74% | -3.73% |
Max Drawdown (5Y)Largest decline over 5 years | -17.01% | -7.00% | -10.01% |
Max Drawdown (10Y)Largest decline over 10 years | -19.61% | -7.43% | -12.18% |
Current DrawdownCurrent decline from peak | -7.53% | -0.36% | -7.17% |
Average DrawdownAverage peak-to-trough decline | -5.55% | -1.54% | -4.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 0.36% | +0.63% |
Volatility
XUTD.L vs. TSY3.L - Volatility Comparison
Xtrackers II US Treasuries UCITS ETF 1D (XUTD.L) and SPDR Bloomberg 1-3 Year US Treasury Bond UCITS ETF (TSY3.L) have volatilities of 1.40% and 1.41%, 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
| XUTD.L | TSY3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.40% | 1.41% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.60% | 3.40% | -0.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.67% | 4.18% | -0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.76% | 5.15% | +0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.05% | 5.15% | -0.10% |
XUTD.L vs. TSY3.L - Expense Ratio Comparison
XUTD.L has a 0.06% expense ratio, which is higher than TSY3.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
XUTD.L vs. TSY3.L - Dividend Comparison
XUTD.L's dividend yield for the trailing twelve months is around 3.48%, less than TSY3.L's 3.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TSY3.L SPDR Bloomberg 1-3 Year US Treasury Bond UCITS ETF | 3.92% | 4.25% | 4.07% | 3.02% | 0.60% | 0.56% | 1.84% | 2.14% | 1.31% | 1.04% | 0.63% | 0.52% |
XUTD.L Xtrackers II US Treasuries UCITS ETF 1D | 3.48% | 3.27% | 3.65% | 2.39% | 1.95% | 3.42% | 1.08% | 1.47% | 1.35% | 1.34% | 2.12% | 0.00% |
Frequently Asked Questions
XUTD.L and TSY3.L have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TSY3.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TSY3.L is cheaper with a 0.05% expense ratio, compared with 0.06% for XUTD.L.
XUTD.L tracks iBoxx USD Treasuries Index, while TSY3.L tracks Bloomberg US 1-3 Year Treasury Bond Index. They also come from different issuers: Xtrackers and State Street. Their fees differ too: 0.06% for XUTD.L and 0.05% for TSY3.L.
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