ZTRE vs. BBSB

Last updated Jun 23, 2026

ZTRE (F/M 3-Year Investment Grade Corporate Bond ETF) and BBSB (JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF) are both exchange-traded funds - ZTRE is a Short-Term Bond fund tracking the ICE 3-Year US Target Maturity Corporate Index - Benchmark TR Gross, while BBSB is a Government Bonds fund tracking the ICE U.S. Treasury 1-3 Year Bond Index. Both are passively managed. Over the past year, ZTRE returned 3.84% vs 3.03% for BBSB. Their correlation of 0.82 suggests significant overlap in exposure. ZTRE charges 0.15%/yr vs 0.04%/yr for BBSB.

Performance

ZTRE vs. BBSB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in F/M 3-Year Investment Grade Corporate Bond ETF (ZTRE) and JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF (BBSB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZTRE achieves a 0.47% return, which is significantly higher than BBSB's 0.39% return.

ZTRE

• 1D: -0.04%
• 1M: 0.25%
• YTD: 0.47%
• 6M: 0.83%
• 1Y: 3.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BBSB

• 1D: -0.06%
• 1M: 0.09%
• YTD: 0.39%
• 6M: 0.51%
• 1Y: 3.03%
• 3Y*: 4.17%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZTRE vs. BBSB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ZTRE F/M 3-Year Investment Grade Corporate Bond ETF	0.47%	6.60%	0.32%
BBSB JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF	0.39%	5.12%	0.31%

Correlation

The correlation between ZTRE and BBSB is 0.85, 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	0.85
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024	0.82

The correlation between ZTRE and BBSB has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.

Return for Risk

ZTRE vs. BBSB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZTRE

ZTRE Risk / Return Rank: 64
ZTRE Sharpe Ratio Rank: 64
ZTRE Sortino Ratio Rank: 73
ZTRE Omega Ratio Rank: 69
ZTRE Calmar Ratio Rank: 55
ZTRE Martin Ratio Rank: 61

BBSB

BBSB Risk / Return Rank: 80
BBSB Sharpe Ratio Rank: 78
BBSB Sortino Ratio Rank: 90
BBSB Omega Ratio Rank: 84
BBSB Calmar Ratio Rank: 73
BBSB Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ZTRE vs. BBSB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for F/M 3-Year Investment Grade Corporate Bond ETF (ZTRE) and JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF (BBSB). 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.

	ZTRE	BBSB	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.39	-0.35
Sortino ratio: Return per unit of downside risk	3.14	3.97	-0.83
Omega ratio: Gain probability vs. loss probability	1.40	1.49	-0.09
Calmar ratio: Return relative to maximum drawdown	2.66	3.56	-0.90
Martin ratio: Return relative to average drawdown	10.60	14.24	-3.64

ZTRE vs. BBSB - Sharpe Ratio Comparison

The current ZTRE Sharpe Ratio is 2.03, which is comparable to the BBSB Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of ZTRE and BBSB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ZTRE vs. BBSB - Drawdown Comparison

The maximum ZTRE drawdown since its inception was -1.45%, smaller than the maximum BBSB drawdown of -1.57%. Use the drawdown chart below to compare losses from any high point for ZTRE and BBSB.

Drawdown Indicators

	ZTRE	BBSB	Difference
Max Drawdown Largest peak-to-trough decline	-1.45%	-1.57%	+0.12%
Max Drawdown (1Y) Largest decline over 1 year	-1.45%	-0.86%	-0.59%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.96%	—
Current Drawdown Current decline from peak	-0.34%	-0.33%	-0.01%
Average Drawdown Average peak-to-trough decline	-0.20%	-0.31%	+0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	0.21%	+0.15%

Volatility

ZTRE vs. BBSB - Volatility Comparison

F/M 3-Year Investment Grade Corporate Bond ETF (ZTRE) has a higher volatility of 0.59% compared to JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF (BBSB) at 0.41%. This indicates that ZTRE's price experiences larger fluctuations and is considered to be riskier than BBSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZTRE	BBSB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.59%	0.41%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	1.48%	0.90%	+0.58%
Volatility (1Y) Calculated over the trailing 1-year period	1.90%	1.28%	+0.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.11%	1.66%	+0.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.11%	1.66%	+0.45%

ZTRE vs. BBSB - Expense Ratio Comparison

ZTRE has a 0.15% expense ratio, which is higher than BBSB's 0.04% 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

ZTRE vs. BBSB - Dividend Comparison

ZTRE's dividend yield for the trailing twelve months is around 4.22%, more than BBSB's 3.81% yield.

Position	TTM	2025	2024	2023
BBSB JPMorgan BetaBuilders U.S. Treasury Bond 1-3 Year ETF	3.81%	3.69%	4.84%	3.50%
ZTRE F/M 3-Year Investment Grade Corporate Bond ETF	4.22%	4.37%	0.39%	0.00%

Frequently Asked Questions

Can I hold both ZTRE and BBSB in my portfolio?

ZTRE and BBSB have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ZTRE or BBSB?

ZTRE has higher volatility (0.59%) compared to BBSB (0.41%). In terms of maximum drawdown, ZTRE dropped -1.45% vs BBSB's -1.57%.

Which ETF is better, ZTRE or BBSB?

On 1-year performance, ZTRE leads with 3.84% vs 3.03% for BBSB. On fees, BBSB is cheaper at 0.04% per year. On volatility, BBSB has been the lower-risk option at 0.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ZTRE or BBSB?

Over the 1-year period, ZTRE has performed better with a 3.84% return vs 3.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ZTRE or BBSB?

BBSB is cheaper with a 0.04% expense ratio, compared with 0.15% for ZTRE.

Which ETF pays a higher dividend yield, ZTRE or BBSB?

ZTRE has the higher dividend yield at 4.22%, compared with 3.81% for BBSB.

What is the main difference between ZTRE and BBSB?

ZTRE is categorized as Short-Term Bond, while BBSB is Government Bonds. ZTRE tracks ICE 3-Year US Target Maturity Corporate Index - Benchmark TR Gross, while BBSB tracks ICE U.S. Treasury 1-3 Year Bond Index. They also come from different issuers: F/m and JPMorgan. Their fees differ too: 0.15% for ZTRE and 0.04% for BBSB.

Which has better risk-adjusted returns?

BBSB currently has the higher Sharpe Ratio (2.39 vs 2.03), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.