CBU7.L vs. TRS5.L
CBU7.L (iShares $ Treasury Bond 3-7yr UCITS ETF USD Acc) and TRS5.L (SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF) are both Government Bonds funds - CBU7.L tracks the ICE U.S. Treasury 3-7 Year Bond Index while TRS5.L tracks the Bloomberg US 3-7 Year Treasury Bond Index. Both are passively managed. Over the past 10 years, CBU7.L returned 1.39%/yr vs 0.83%/yr for TRS5.L. Their correlation of 0.88 suggests significant overlap in exposure. CBU7.L charges 0.07%/yr vs 0.05%/yr for TRS5.L.
Performance
CBU7.L vs. TRS5.L - Performance Comparison
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Returns By Period
In the year-to-date period, CBU7.L achieves a -0.52% return, which is significantly lower than TRS5.L's -0.40% return. Over the past 10 years, CBU7.L has outperformed TRS5.L with an annualized return of 1.39%, while TRS5.L has yielded a comparatively lower 0.83% annualized return.
CBU7.L
- 1D
- 0.19%
- 1M
- -0.13%
- YTD
- -0.52%
- 6M
- -0.10%
- 1Y
- 3.16%
- 3Y*
- 3.73%
- 5Y*
- 0.39%
- 10Y*
- 1.39%
TRS5.L
- 1D
- 0.18%
- 1M
- -0.11%
- YTD
- -0.40%
- 6M
- -0.08%
- 1Y
- 3.24%
- 3Y*
- 3.66%
- 5Y*
- 0.31%
- 10Y*
- 0.83%
CBU7.L vs. TRS5.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CBU7.L iShares $ Treasury Bond 3-7yr UCITS ETF USD Acc | -0.52% | 7.34% | 2.16% | 4.26% | -9.35% | -2.35% | 6.98% | 6.06% | 1.21% | 1.26% |
TRS5.L SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | -0.40% | 7.27% | 2.02% | 4.16% | -9.49% | -2.44% | 6.80% | 4.29% | -0.46% | -0.42% |
Correlation
The correlation between CBU7.L and TRS5.L is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2016 | 0.88 |
The correlation between CBU7.L and TRS5.L has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.
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Return for Risk
CBU7.L vs. TRS5.L — Risk / Return Rank
CBU7.L
TRS5.L
CBU7.L vs. TRS5.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Treasury Bond 3-7yr UCITS ETF USD Acc (CBU7.L) and SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (TRS5.L). 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.
| CBU7.L | TRS5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.20 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.26 | 1.30 | -0.05 |
| Martin ratioReturn relative to average drawdown | 4.06 | 4.14 | -0.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CBU7.L | TRS5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | 1.11 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.07 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.34 | 0.22 | +0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.22 | +0.35 |
Drawdowns
CBU7.L vs. TRS5.L - Drawdown Comparison
The maximum CBU7.L drawdown since its inception was -14.18%, roughly equal to the maximum TRS5.L drawdown of -14.35%. Use the drawdown chart below to compare losses from any high point for CBU7.L and TRS5.L.
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Drawdown Indicators
| CBU7.L | TRS5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.18% | -14.35% | +0.17% |
Max Drawdown (1Y)Largest decline over 1 year | -2.50% | -2.48% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -3.66% | -3.70% | +0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -13.55% | -13.64% | +0.09% |
Max Drawdown (10Y)Largest decline over 10 years | -14.18% | -14.35% | +0.17% |
Current DrawdownCurrent decline from peak | -1.60% | -1.60% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.33% | -4.40% | +1.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.78% | -0.01% |
Volatility
CBU7.L vs. TRS5.L - Volatility Comparison
iShares $ Treasury Bond 3-7yr UCITS ETF USD Acc (CBU7.L) and SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (TRS5.L) have volatilities of 1.13% and 1.15%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBU7.L | TRS5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 1.15% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.15% | 2.14% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.96% | 2.91% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.70% | 4.71% | -0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.10% | 3.81% | +0.29% |
CBU7.L vs. TRS5.L - Expense Ratio Comparison
CBU7.L has a 0.07% expense ratio, which is higher than TRS5.L's 0.05% 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
CBU7.L vs. TRS5.L - Dividend Comparison
CBU7.L has not paid dividends to shareholders, while TRS5.L's dividend yield for the trailing twelve months is around 3.93%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CBU7.L iShares $ Treasury Bond 3-7yr UCITS ETF USD Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TRS5.L SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | 3.93% | 3.68% | 3.24% | 1.97% | 1.12% | 0.98% | 1.66% | 1.09% |
Frequently Asked Questions
With a correlation of 0.95, CBU7.L and TRS5.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, TRS5.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRS5.L is cheaper with a 0.05% expense ratio, compared with 0.07% for CBU7.L.
CBU7.L tracks ICE U.S. Treasury 3-7 Year Bond Index, while TRS5.L tracks Bloomberg US 3-7 Year Treasury Bond Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.07% for CBU7.L and 0.05% for TRS5.L.
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