US Treasury 10 Year Note ETF (UTEN) Performance
UTEN total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −2.8% since Dec 31, 2025
- 1 year
- −3.3% total return
- 3 years
- +3.8% a year
- Since first price
- −0.5% a year since 2022
UTEN trailing returns vs SPY, QQQ, AGG
| Period | UTEN total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +1.2% | +0.9% | −1.0% | −5.0% | +0.9% |
| 3 months | −1.1% | −2.2% | +3.2% | +1.9% | −0.4% |
| 6 months | −2.9% | −4.9% | +7.8% | +8.4% | −1.5% |
| YTD | −2.8% | −5.8% | +12.3% | +15.1% | −1.0% |
| 1 year | −3.3% | −7.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +12.0%+3.8%/yr | −1.0% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionAug 9, 2022 | −2.1%−0.5%/yr | −16.7% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: UTEN vs SPY
From Aug 9, 2022: UTEN grew to $9,791, SPY to $19,539.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
UTEN returns by calendar year
2 of 3 full years positive. Best 2025 (+7.8%), worst 2024 (−1.6%). 2026 is year to date.
UTEN annual returns table
| Year | UTEN | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −2.8% | −7.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +7.8% | −3.9% | +17.7% | +20.8% | +7.2% |
| 2024 | −1.6% | −6.7% | +24.9% | +25.6% | +1.3% |
| 2023 | +3.2% | −11.1% | +26.2% | +54.9% | +5.7% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
UTEN largest drawdowns
Now 5.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Aug 10, 2022 | −13.5% | Oct 19, 2023 | Sep 5, 2025 | 1.2 years | 3.1 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
UTEN risk statistics
| Statistic | 3 years | Since 2022 |
|---|---|---|
| Annualized return | +2.3% | −0.4% |
| Volatility (annualized) | 7.1% | 7.8% |
| Sharpe ratio | -0.26 | -0.56 |
| Sortino ratio | -0.34 | -0.71 |
| Best month | +4.8% | +4.8% |
| Worst month | −3.6% | −5.0% |
| Best 12 months | +10.4% | +10.4% |
| Worst 12 months | −4.4% | −6.4% |
| Positive months | 61% | 53% |
| Beta vs S&P 500 | 0.24 | — |
| Correlation with S&P 500 | 0.41 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
UTEN rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 39 | −6.4% | +2.5% | +10.4% | 67% |
| 3-year (a year) | 15 | +0.7% | +2.4% | +4.0% | 100% |
Every holding period starting at a month-end since 2022. Returns for 3 years and longer are annualized.
UTEN performance overview
US Treasury 10 Year Note ETF (UTEN) returned −3.3% over the past year, with distributions reinvested. Since its first recorded price in 2022 it has returned −0.5% a year, turning $10,000 into about $9,791. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −13.5%, from Aug 10, 2022 to Oct 19, 2023, and it took 1.9 years to get back to the old high. UTEN finished 2 of its 3 full calendar years with a gain; the best year was 2025 (+7.8%) and the worst 2024 (−1.6%). Volatility has been 7.8% a year.
Related: UTEN chart, UTEN dividends. See the UTEN overview for the latest quote and fund facts.
UTEN performance FAQ
What is the UTEN return over the past year?
UTEN returned −3.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 7.1%.
How much would $10,000 invested in UTEN be worth?
$10,000 invested in UTEN at its first recorded close on August 9, 2022 would be worth about $9,791 on October 23, 2026 with distributions reinvested.
What was the worst year for UTEN?
The worst calendar year was 2024, with a total return of −1.6%. The best was 2025 at +7.8%.
What is the biggest drawdown of UTEN?
The largest peak-to-trough decline was −13.5% between August 10, 2022 and October 19, 2023. It recovered to the old high on September 5, 2025, 1.9 years after the bottom.
How volatile is UTEN?
Over the past 3 years UTEN had an annualized volatility of 7.1% and a Sharpe ratio of -0.26 (excess return over 1–3 month T-bills per unit of risk).