IBCC.DE vs. TRD1.DE
IBCC.DE (iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist)) and TRD1.DE (Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist) are both Government Bonds funds - IBCC.DE tracks the ICE US Treasury Short Bond Index while TRD1.DE tracks the Bloomberg US Treasury Coupons Index. Both are passively managed. Over the past 5 years, IBCC.DE returned 4.17%/yr vs 4.03%/yr for TRD1.DE. Their correlation of 0.87 suggests significant overlap in exposure. IBCC.DE charges 0.07%/yr vs 0.06%/yr for TRD1.DE.
Performance
IBCC.DE vs. TRD1.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with IBCC.DE having a 4.60% return and TRD1.DE slightly lower at 4.56%.
IBCC.DE
- 1D
- 0.23%
- 1M
- 1.87%
- 6M
- 4.60%
- YTD
- 4.60%
- 1Y
- 6.83%
- 3Y*
- 3.02%
- 5Y*
- 4.17%
- 10Y*
- —
TRD1.DE
- 1D
- 0.20%
- 1M
- 2.07%
- 6M
- 4.34%
- YTD
- 4.56%
- 1Y
- 6.79%
- 3Y*
- 2.97%
- 5Y*
- 4.03%
- 10Y*
- —
IBCC.DE vs. TRD1.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IBCC.DE iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.60% | -7.23% | 11.42% | 1.23% | 7.25% | 8.42% | -8.94% |
TRD1.DE Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist | 4.56% | -7.35% | 11.23% | 1.38% | 6.73% | 8.36% | -17.72% |
Correlation
The correlation between IBCC.DE and TRD1.DE is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2020 | 0.87 |
The correlation between IBCC.DE and TRD1.DE has been stable across timeframes, ranging from 0.87 to 0.95 - a consistent structural relationship.
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Return for Risk
IBCC.DE vs. TRD1.DE — Risk / Return Rank
IBCC.DE
TRD1.DE
IBCC.DE vs. TRD1.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBCC.DE) and Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist (TRD1.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.
| IBCC.DE | TRD1.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.19 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.10 | 1.83 | +0.27 |
| Martin ratioReturn relative to average drawdown | 4.78 | 4.77 | +0.01 |
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Drawdowns
IBCC.DE vs. TRD1.DE - Drawdown Comparison
The maximum IBCC.DE drawdown since its inception was -16.17%, smaller than the maximum TRD1.DE drawdown of -17.81%. Use the drawdown chart below to compare losses from any high point for IBCC.DE and TRD1.DE.
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Drawdown Indicators
| IBCC.DE | TRD1.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.17% | -17.81% | +1.64% |
Max Drawdown (1Y)Largest decline over 1 year | -3.24% | -3.70% | +0.46% |
Max Drawdown (3Y)Largest decline over 3 years | -11.59% | -11.60% | +0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -11.69% | -11.70% | +0.01% |
Current DrawdownCurrent decline from peak | -5.33% | -5.44% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -7.99% | -8.30% | +0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.43% | 1.42% | +0.01% |
Volatility
IBCC.DE vs. TRD1.DE - Volatility Comparison
iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBCC.DE) has a higher volatility of 1.88% compared to Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist (TRD1.DE) at 1.79%. This indicates that IBCC.DE's price experiences larger fluctuations and is considered to be riskier than TRD1.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBCC.DE | TRD1.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.88% | 1.79% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 4.35% | 4.67% | -0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.23% | 6.32% | -0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.57% | 7.48% | +0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.43% | 8.11% | +0.32% |
IBCC.DE vs. TRD1.DE - Expense Ratio Comparison
IBCC.DE has a 0.07% expense ratio, which is higher than TRD1.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
IBCC.DE vs. TRD1.DE - Dividend Comparison
IBCC.DE's dividend yield for the trailing twelve months is around 3.99%, more than TRD1.DE's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IBCC.DE iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist) | 3.99% | 4.63% | 6.49% | 4.14% | 0.47% | 0.09% | 1.39% | 1.22% |
TRD1.DE Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist | 3.86% | 4.35% | 4.82% | 4.70% | 1.55% | 0.10% | 0.74% | 0.00% |
Frequently Asked Questions
IBCC.DE and TRD1.DE have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRD1.DE is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRD1.DE is cheaper with a 0.06% expense ratio, compared with 0.07% for IBCC.DE.
IBCC.DE tracks ICE US Treasury Short Bond Index, while TRD1.DE tracks Bloomberg US Treasury Coupons Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.07% for IBCC.DE and 0.06% for TRD1.DE.
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