18M1.DE vs. TRFE.DE
18M1.DE (Amundi Euro Government Bond 0-6 M UCITS ETF (Acc)) and TRFE.DE (Invesco US Treasury Bond UCITS ETF EUR Hdg Dist) are both Government Bonds funds - 18M1.DE tracks the FTSE Eurozone Government Bill 0-6 Month Capped Index while TRFE.DE tracks the Bloomberg U.S. Treasury Total Return Index. Both are passively managed. Over the past 3 years, 18M1.DE returned 2.77%/yr vs 0.92%/yr for TRFE.DE. At a 0.05 correlation, their price movements are largely independent. 18M1.DE charges 0.14%/yr vs 0.10%/yr for TRFE.DE.
Performance
18M1.DE vs. TRFE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 18M1.DE achieves a 1.08% return, which is significantly higher than TRFE.DE's -1.43% return.
18M1.DE
- 1D
- 0.00%
- 1M
- 0.21%
- 6M
- 0.94%
- YTD
- 1.08%
- 1Y
- 1.91%
- 3Y*
- 2.77%
- 5Y*
- 1.74%
- 10Y*
- 0.53%
TRFE.DE
- 1D
- 0.19%
- 1M
- -0.39%
- 6M
- -0.87%
- YTD
- -1.43%
- 1Y
- 1.36%
- 3Y*
- 0.92%
- 5Y*
- —
- 10Y*
- —
18M1.DE vs. TRFE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
18M1.DE Amundi Euro Government Bond 0-6 M UCITS ETF (Acc) | 1.08% | 2.05% | 3.53% | 2.89% | -0.35% |
TRFE.DE Invesco US Treasury Bond UCITS ETF EUR Hdg Dist | -1.43% | 4.63% | -1.17% | 1.55% | 4.74% |
Correlation
The correlation between 18M1.DE and TRFE.DE is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2022 | 0.05 |
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Return for Risk
18M1.DE vs. TRFE.DE — Risk / Return Rank
18M1.DE
TRFE.DE
18M1.DE vs. TRFE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Euro Government Bond 0-6 M UCITS ETF (Acc) (18M1.DE) and Invesco US Treasury Bond UCITS ETF EUR Hdg Dist (TRFE.DE). 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.
| 18M1.DE | TRFE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.92 | ||
| Sortino ratioReturn per unit of downside risk | +9.08 | ||
| Omega ratioGain probability vs. loss probability | 2.37 | 1.06 | +1.31 |
| Calmar ratioReturn relative to maximum drawdown | 29.91 | 0.40 | +29.51 |
| Martin ratioReturn relative to average drawdown | 113.71 | 0.99 | +112.72 |
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Drawdowns
18M1.DE vs. TRFE.DE - Drawdown Comparison
The maximum 18M1.DE drawdown since its inception was -4.83%, smaller than the maximum TRFE.DE drawdown of -17.11%. Use the drawdown chart below to compare losses from any high point for 18M1.DE and TRFE.DE.
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Drawdown Indicators
| 18M1.DE | TRFE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.83% | -17.11% | +12.28% |
Max Drawdown (1Y)Largest decline over 1 year | -0.06% | -3.40% | +3.34% |
Max Drawdown (3Y)Largest decline over 3 years | -0.13% | -5.46% | +5.33% |
Max Drawdown (5Y)Largest decline over 5 years | -1.00% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -4.29% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -9.88% | +9.88% |
Average DrawdownAverage peak-to-trough decline | -1.37% | -10.81% | +9.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 1.38% | -1.36% |
Volatility
18M1.DE vs. TRFE.DE - Volatility Comparison
The current volatility for Amundi Euro Government Bond 0-6 M UCITS ETF (Acc) (18M1.DE) is 0.08%, while Invesco US Treasury Bond UCITS ETF EUR Hdg Dist (TRFE.DE) has a volatility of 1.02%. This indicates that 18M1.DE experiences smaller price fluctuations and is considered to be less risky than TRFE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 18M1.DE | TRFE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.08% | 1.02% | -0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 0.28% | 2.75% | -2.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.37% | 3.99% | -3.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.40% | 11.18% | -10.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.48% | 11.18% | -10.70% |
18M1.DE vs. TRFE.DE - Expense Ratio Comparison
18M1.DE has a 0.14% expense ratio, which is higher than TRFE.DE's 0.10% 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
18M1.DE vs. TRFE.DE - Dividend Comparison
18M1.DE has not paid dividends to shareholders, while TRFE.DE's dividend yield for the trailing twelve months is around 4.28%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
18M1.DE Amundi Euro Government Bond 0-6 M UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TRFE.DE Invesco US Treasury Bond UCITS ETF EUR Hdg Dist | 4.28% | 4.10% | 4.30% | 3.77% | 1.74% |
Frequently Asked Questions
18M1.DE and TRFE.DE have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRFE.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRFE.DE is cheaper with a 0.10% expense ratio, compared with 0.14% for 18M1.DE.
18M1.DE tracks FTSE Eurozone Government Bill 0-6 Month Capped Index, while TRFE.DE tracks Bloomberg U.S. Treasury Total Return Index. They also come from different issuers: Amundi and Invesco. Their fees differ too: 0.14% for 18M1.DE and 0.10% for TRFE.DE.
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