BBLL.DE vs. TRDS.DE

Last updated Jun 5, 2026

BBLL.DE (JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc)) and TRDS.DE (Invesco US Treasury Bond UCITS ETF Dist) are both Government Bonds funds - BBLL.DE tracks the ICE US Treasury 0-1 Year Index while TRDS.DE tracks the Bloomberg US Treasury Index. Both are passively managed. Over the past 5 years, BBLL.DE returned 4.31%/yr vs 0.24%/yr for TRDS.DE. A 0.72 correlation means they provide meaningful diversification when combined. BBLL.DE charges 0.07%/yr vs 0.06%/yr for TRDS.DE.

Performance

BBLL.DE vs. TRDS.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc) (BBLL.DE) and Invesco US Treasury Bond UCITS ETF Dist (TRDS.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBLL.DE achieves a 2.66% return, which is significantly higher than TRDS.DE's 0.86% return.

BBLL.DE

• 1D: -0.11%
• 1M: 1.01%
• YTD: 2.66%
• 6M: 2.06%
• 1Y: 2.10%
• 3Y*: 1.85%
• 5Y*: 4.31%
• 10Y*: —

TRDS.DE

• 1D: -0.02%
• 1M: 0.72%
• YTD: 0.86%
• 6M: 0.02%
• 1Y: 1.02%
• 3Y*: -0.30%
• 5Y*: 0.24%
• 10Y*: —

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

BBLL.DE vs. TRDS.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BBLL.DE JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc)	2.66%	-7.37%	11.29%	1.32%	7.29%	8.35%	-8.23%	1.14%
TRDS.DE Invesco US Treasury Bond UCITS ETF Dist	0.86%	-5.91%	6.16%	0.07%	-6.97%	5.67%	-2.04%	2.36%

Correlation

The correlation between BBLL.DE and TRDS.DE is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019	0.72

The correlation between BBLL.DE and TRDS.DE has been stable across timeframes, ranging from 0.71 to 0.79 - a consistent structural relationship.

Return for Risk

BBLL.DE vs. TRDS.DE — Risk / Return Rank

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

BBLL.DE

BBLL.DE Risk / Return Rank: 15
BBLL.DE Sharpe Ratio Rank: 14
BBLL.DE Sortino Ratio Rank: 13
BBLL.DE Omega Ratio Rank: 13
BBLL.DE Calmar Ratio Rank: 17
BBLL.DE Martin Ratio Rank: 15

TRDS.DE

TRDS.DE Risk / Return Rank: 11
TRDS.DE Sharpe Ratio Rank: 12
TRDS.DE Sortino Ratio Rank: 11
TRDS.DE Omega Ratio Rank: 11
TRDS.DE Calmar Ratio Rank: 12
TRDS.DE Martin Ratio Rank: 12

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.

BBLL.DE vs. TRDS.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc) (BBLL.DE) and Invesco US Treasury Bond UCITS ETF Dist (TRDS.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.

	BBLL.DE	TRDS.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.34	0.18	+0.16
Sortino ratio: Return per unit of downside risk	0.52	0.30	+0.23
Omega ratio: Gain probability vs. loss probability	1.06	1.03	+0.03
Calmar ratio: Return relative to maximum drawdown	0.62	0.24	+0.37
Martin ratio: Return relative to average drawdown	1.30	0.60	+0.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BBLL.DE vs. TRDS.DE - Sharpe Ratio Comparison

The current BBLL.DE Sharpe Ratio is 0.34, which is higher than the TRDS.DE Sharpe Ratio of 0.18. The chart below compares the historical Sharpe Ratios of BBLL.DE and TRDS.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BBLL.DE	TRDS.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.34	0.18	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.03	+0.54
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.05	+0.24

Drawdowns

BBLL.DE vs. TRDS.DE - Drawdown Comparison

The maximum BBLL.DE drawdown since its inception was -13.03%, smaller than the maximum TRDS.DE drawdown of -17.77%. Use the drawdown chart below to compare losses from any high point for BBLL.DE and TRDS.DE.

Drawdown Indicators

	BBLL.DE	TRDS.DE	Difference
Max Drawdown Largest peak-to-trough decline	-13.03%	-17.77%	+4.74%
Max Drawdown (1Y) Largest decline over 1 year	-3.38%	-4.13%	+0.75%
Max Drawdown (3Y) Largest decline over 3 years	-11.65%	-11.21%	-0.44%
Max Drawdown (5Y) Largest decline over 5 years	-11.65%	-13.10%	+1.45%
Current Drawdown Current decline from peak	-7.22%	-14.15%	+6.93%
Average Drawdown Average peak-to-trough decline	-6.14%	-10.46%	+4.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	1.68%	-0.07%

Volatility

BBLL.DE vs. TRDS.DE - Volatility Comparison

JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc) (BBLL.DE) has a higher volatility of 1.28% compared to Invesco US Treasury Bond UCITS ETF Dist (TRDS.DE) at 0.93%. This indicates that BBLL.DE's price experiences larger fluctuations and is considered to be riskier than TRDS.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBLL.DE	TRDS.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.28%	0.93%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	4.12%	3.90%	+0.22%
Volatility (1Y) Calculated over the trailing 1-year period	6.07%	5.61%	+0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.46%	8.04%	-0.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.22%	7.80%	-0.58%

BBLL.DE vs. TRDS.DE - Expense Ratio Comparison

BBLL.DE has a 0.07% expense ratio, which is higher than TRDS.DE's 0.06% 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

BBLL.DE vs. TRDS.DE - Dividend Comparison

BBLL.DE has not paid dividends to shareholders, while TRDS.DE's dividend yield for the trailing twelve months is around 3.65%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BBLL.DE JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TRDS.DE Invesco US Treasury Bond UCITS ETF Dist	3.65%	3.76%	3.83%	3.58%	1.90%	0.94%	1.47%	1.48%

Frequently Asked Questions

Can I hold both BBLL.DE and TRDS.DE in my portfolio?

BBLL.DE and TRDS.DE have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BBLL.DE or TRDS.DE?

On fees, TRDS.DE is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BBLL.DE or TRDS.DE?

TRDS.DE is cheaper with a 0.06% expense ratio, compared with 0.07% for BBLL.DE.

What is the main difference between BBLL.DE and TRDS.DE?

BBLL.DE tracks ICE US Treasury 0-1 Year Index, while TRDS.DE tracks Bloomberg US Treasury Index. They also come from different issuers: JPMorgan and Invesco. Their fees differ too: 0.07% for BBLL.DE and 0.06% for TRDS.DE.