- Issuer
- Invesco
- Inception Date
- Feb 20, 2024
- Category
- Government Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- Bloomberg U.S. Treasury Total Return Index
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
TRFE.DE Performance Chart
Invesco US Treasury Bond UCITS ETF EUR Hdg Dist (TRFE.DE) is down 1.2% since the beginning of the year. TRFE.DE is currently trading at €31 per share.
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Returns By Period
Invesco US Treasury Bond UCITS ETF EUR Hdg Dist (TRFE.DE) has returned -1.24% so far this year and 1.02% over the past 12 months.
Invesco US Treasury Bond UCITS ETF EUR Hdg Dist
- 1D
- -0.16%
- 1M
- 0.24%
- 6M
- -0.59%
- YTD
- -1.24%
- 1Y
- 1.02%
- 3Y*
- 1.17%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.43%
- 1M
- 0.48%
- 6M
- 11.83%
- YTD
- 12.30%
- 1Y
- 22.52%
- 3Y*
- 17.03%
- 5Y*
- 12.27%
- 10Y*
- 13.23%
TRFE.DE Monthly Returns History
Based on dividend-adjusted daily data since Feb 1, 2022, TRFE.DE's average daily return is +0.01%, while the average monthly return is +0.20%. At this rate, an investment would double in approximately 28.9 years.
Historically, 50% of months were positive and 50% were negative. The best month was Feb 2022 with a return of +19.1%, while the worst month was Sep 2022 at -3.6%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 6 months.
On a daily basis, TRFE.DE closed higher 47% of trading days. The best single day was Feb 2, 2022 with a return of +20.3%, while the worst single day was Feb 2, 2024 at -1.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.75% | 1.67% | -1.96% | -0.03% | -0.06% | 0.31% | -0.39% | -1.24% | |||||
| 2025 | 0.53% | 1.69% | 0.24% | 0.53% | -1.26% | 0.88% | -0.25% | 0.63% | 0.76% | 0.31% | 0.40% | 0.10% | 4.63% |
| 2024 | -0.27% | -1.34% | 0.41% | -2.38% | 1.15% | 1.16% | 1.48% | 1.64% | 0.85% | -2.60% | 0.55% | -1.70% | -1.17% |
| 2023 | 2.10% | -2.54% | 2.58% | 0.58% | -1.46% | -0.81% | -0.56% | -0.65% | -2.36% | -1.21% | 3.20% | 2.92% | 1.55% |
| 2022 | 19.12% | -2.93% | -3.30% | -0.08% | -0.97% | 1.53% | -2.71% | -3.60% | -1.96% | 1.59% | -0.18% | 4.74% |
Benchmark Metrics
Invesco US Treasury Bond UCITS ETF EUR Hdg Dist has an annualized alpha of 3.28%, beta of -0.02, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since February 01, 2022.
- This ETF captured 5.60% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -4.95%) - a profile typical of hedging or uncorrelated assets.
- Beta of -0.02 may look defensive, but with R2 of 0.00 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.00 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 3.28%
- Beta
- -0.02
- R²
- 0.00
- Upside Capture
- 5.60%
- Downside Capture
- -4.95%
Expense Ratio
TRFE.DE has an expense ratio of 0.10%, which is considered low.
Return for Risk
Risk / Return Rank
TRFE.DE ranks 12 for risk / return — in the bottom 12% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Invesco US Treasury Bond UCITS ETF EUR Hdg Dist (TRFE.DE) and compare them to S&P 500 Index.
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.
| TRFE.DE | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -2.10 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.35 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.30 | 3.18 | -2.89 |
| Martin ratioReturn relative to average drawdown | 0.79 | 11.76 | -10.98 |
Dividends
Dividend History
Invesco US Treasury Bond UCITS ETF EUR Hdg Dist provided a 4.27% dividend yield over the last twelve months, with an annual payout of €1.32 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | €1.32 | €1.31 | €1.37 | €1.27 | €0.60 |
Dividend yield | 4.27% | 4.10% | 4.30% | 3.77% | 1.74% |
Monthly Dividends
The table displays the monthly dividend distributions for Invesco US Treasury Bond UCITS ETF EUR Hdg Dist. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | €0.00 | €0.00 | €0.33 | €0.00 | €0.00 | €0.33 | €0.00 | €0.66 | |||||
| 2025 | €0.00 | €0.00 | €0.34 | €0.00 | €0.00 | €0.32 | €0.00 | €0.00 | €0.33 | €0.00 | €0.00 | €0.33 | €1.31 |
| 2024 | €0.00 | €0.00 | €0.33 | €0.00 | €0.00 | €0.34 | €0.00 | €0.00 | €0.34 | €0.00 | €0.00 | €0.36 | €1.37 |
| 2023 | €0.00 | €0.00 | €0.28 | €0.00 | €0.00 | €0.32 | €0.00 | €0.00 | €0.33 | €0.00 | €0.00 | €0.34 | €1.27 |
| 2022 | €0.04 | €0.00 | €0.00 | €0.14 | €0.00 | €0.00 | €0.19 | €0.00 | €0.00 | €0.23 | €0.60 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Invesco US Treasury Bond UCITS ETF EUR Hdg Dist. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Invesco US Treasury Bond UCITS ETF EUR Hdg Dist was 17.11%, occurring on Oct 18, 2023. The portfolio has not yet recovered.
The current Invesco US Treasury Bond UCITS ETF EUR Hdg Dist drawdown is 9.71%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2023 correction2023 | -17.11%Oct 2023 | 1y 7mo | — | 4y 4moMar 2022 - now |
Bear market2022 | -2.00%Feb 2022 | 8d | 18d | 26dFeb 2022 - Mar 2022 |
Drawdown Indicators
| TRFE.DE | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.11% | -51.62% | +34.51% |
Max Drawdown (1Y)Largest decline over 1 year | -3.40% | -7.57% | +4.17% |
Max Drawdown (3Y)Largest decline over 3 years | -5.46% | -23.99% | +18.53% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.99% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.42% | — |
Current DrawdownCurrent decline from peak | -9.71% | -0.43% | -9.28% |
Average DrawdownAverage peak-to-trough decline | -10.82% | -9.08% | -1.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.29% | 2.04% | -0.75% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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