ZTRE vs. UTWY
ZTRE (F/M 3-Year Investment Grade Corporate Bond ETF) and UTWY (F/m US Treasury 20 Year Bond 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 UTWY is a Government Bonds fund tracking the Bloomberg US Treasury Bellwether 20 Year Index. Both are passively managed. Over the past year, ZTRE returned 3.03% vs -1.66% for UTWY. Their 0.73 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.15% expense ratio.
Performance
ZTRE vs. UTWY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ZTRE achieves a 0.80% return, which is significantly higher than UTWY's -3.22% return.
ZTRE
- 1D
- -0.04%
- 1M
- -0.06%
- 6M
- 0.41%
- YTD
- 0.80%
- 1Y
- 3.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.76%
UTWY
- 1D
- -0.65%
- 1M
- -3.22%
- 6M
- -3.26%
- YTD
- -3.22%
- 1Y
- -1.66%
- 3Y*
- -0.41%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -1.63%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $108.36K | $60.31K | $63.45K | |
| $361.74K | $257.68K | $173.89K |
ZTRE vs. UTWY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZTRE F/M 3-Year Investment Grade Corporate Bond ETF | 0.80% | 6.60% | 0.32% |
UTWY F/m US Treasury 20 Year Bond ETF | -3.22% | 4.82% | -0.95% |
Correlation
The correlation between ZTRE and UTWY is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.70 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024 | 0.73 |
The correlation between ZTRE and UTWY has been stable across timeframes, ranging from 0.70 to 0.73 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ZTRE vs. UTWY — Risk / Return Rank
ZTRE
UTWY
ZTRE vs. UTWY - 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 F/m US Treasury 20 Year Bond ETF (UTWY). 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 | UTWY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.90 | ||
| Sortino ratioReturn per unit of downside risk | +2.81 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.00 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | -0.05 | +2.52 |
| Martin ratioReturn relative to average drawdown | 9.68 | -0.12 | +9.80 |
Loading charts...
Drawdowns
ZTRE vs. UTWY - Drawdown Comparison
The maximum ZTRE drawdown since its inception was -1.45%, smaller than the maximum UTWY drawdown of -18.19%. Use the drawdown chart below to compare losses from any high point for ZTRE and UTWY.
Loading charts...
Drawdown Indicators
| ZTRE | UTWY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.45% | -18.19% | +16.74% |
Max Drawdown (1Y)Largest decline over 1 year | -1.45% | -6.72% | +5.27% |
Max Drawdown (3Y)Largest decline over 3 years | — | -11.88% | — |
Current DrawdownCurrent decline from peak | -0.10% | -8.47% | +8.37% |
Average DrawdownAverage peak-to-trough decline | -0.21% | -6.98% | +6.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.37% | 3.00% | -2.63% |
Volatility
ZTRE vs. UTWY - Volatility Comparison
The current volatility for F/M 3-Year Investment Grade Corporate Bond ETF (ZTRE) is 0.65%, while F/m US Treasury 20 Year Bond ETF (UTWY) has a volatility of 2.09%. This indicates that ZTRE experiences smaller price fluctuations and is considered to be less risky than UTWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ZTRE | UTWY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.65% | 2.09% | -1.44% |
Volatility (6M)Calculated over the trailing 6-month period | 1.58% | 6.01% | -4.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.93% | 7.83% | -5.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.10% | 10.97% | -8.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.10% | 10.97% | -8.87% |
ZTRE vs. UTWY - Expense Ratio Comparison
Both ZTRE and UTWY have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
ZTRE vs. UTWY - Dividend Comparison
ZTRE's dividend yield for the trailing twelve months is around 4.56%, less than UTWY's 5.27% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
UTWY F/m US Treasury 20 Year Bond ETF | 4.85% | 4.62% | 4.56% | 2.94% |
ZTRE F/M 3-Year Investment Grade Corporate Bond ETF | 4.23% | 4.37% | 0.39% | 0.00% |
Frequently Asked Questions
ZTRE and UTWY have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UTWY has higher volatility (2.09%) compared to ZTRE (0.65%). In terms of maximum drawdown, ZTRE dropped -1.45% vs UTWY's -18.19%.
On 1-year performance, ZTRE leads with 3.03% vs -1.66% for UTWY. Both ETFs have the same 0.15% expense ratio. On volatility, ZTRE has been the lower-risk option at 0.65%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ZTRE has performed better with a 3.03% return vs -1.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ZTRE and UTWY have the same expense ratio: 0.15% per year.
UTWY has the higher dividend yield at 4.85%, compared with 4.23% for ZTRE.
ZTRE is categorized as Short-Term Bond, while UTWY is Government Bonds. ZTRE tracks ICE 3-Year US Target Maturity Corporate Index - Benchmark TR Gross, while UTWY tracks Bloomberg US Treasury Bellwether 20 Year Index.
ZTRE currently has the higher Sharpe Ratio (1.86 vs -0.05), 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.
Find the right allocation for ZTRE and UTWY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer