IBCC.DE vs. TRD3.DE
IBCC.DE (iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist)) and TRD3.DE (Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist) are both Government Bonds funds - IBCC.DE tracks the ICE US Treasury Short Bond Index while TRD3.DE tracks the Bloomberg US Treasury 1-3 Year Index. Both are passively managed. Over the past 5 years, IBCC.DE returned 4.12%/yr vs 2.57%/yr for TRD3.DE. Their correlation of 0.93 suggests significant overlap in exposure. IBCC.DE charges 0.07%/yr vs 0.06%/yr for TRD3.DE.
Performance
IBCC.DE vs. TRD3.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBCC.DE achieves a 4.60% return, which is significantly higher than TRD3.DE's 3.72% return.
IBCC.DE
- 1D
- 0.00%
- 1M
- 1.63%
- 6M
- 3.15%
- YTD
- 4.60%
- 1Y
- 5.10%
- 3Y*
- 4.00%
- 5Y*
- 4.12%
- 10Y*
- —
TRD3.DE
- 1D
- 0.03%
- 1M
- 1.51%
- 6M
- 2.33%
- YTD
- 3.72%
- 1Y
- 4.65%
- 3Y*
- 3.61%
- 5Y*
- 2.57%
- 10Y*
- —
IBCC.DE vs. TRD3.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBCC.DE iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.60% | -7.23% | 11.42% | 1.23% | 7.25% | 8.42% | -8.13% | -8.71% |
TRD3.DE Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist | 3.72% | -6.54% | 10.06% | 0.57% | 2.12% | 7.70% | -6.02% | -7.83% |
Correlation
The correlation between IBCC.DE and TRD3.DE is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2019 | 0.93 |
The correlation between IBCC.DE and TRD3.DE has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.
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Return for Risk
IBCC.DE vs. TRD3.DE — Risk / Return Rank
IBCC.DE
TRD3.DE
IBCC.DE vs. TRD3.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 1-3 Year UCITS ETF USD Dist (TRD3.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 | TRD3.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.14 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 1.35 | +0.21 |
| Martin ratioReturn relative to average drawdown | 3.59 | 3.27 | +0.32 |
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Drawdowns
IBCC.DE vs. TRD3.DE - Drawdown Comparison
The maximum IBCC.DE drawdown since its inception was -16.17%, which is greater than TRD3.DE's maximum drawdown of -13.49%. Use the drawdown chart below to compare losses from any high point for IBCC.DE and TRD3.DE.
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Drawdown Indicators
| IBCC.DE | TRD3.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.17% | -13.49% | -2.68% |
Max Drawdown (1Y)Largest decline over 1 year | -3.24% | -3.42% | +0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -11.59% | -10.90% | -0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -11.69% | -12.49% | +0.80% |
Current DrawdownCurrent decline from peak | -5.33% | -5.17% | -0.16% |
Average DrawdownAverage peak-to-trough decline | -7.97% | -7.12% | -0.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.42% | 1.42% | 0.00% |
Volatility
IBCC.DE vs. TRD3.DE - Volatility Comparison
iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBCC.DE) and Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist (TRD3.DE) have volatilities of 1.36% and 1.35%, 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
| IBCC.DE | TRD3.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 1.35% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 4.32% | 4.08% | +0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.13% | 5.73% | +0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.57% | 7.20% | +0.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.41% | 7.89% | +0.52% |
IBCC.DE vs. TRD3.DE - Expense Ratio Comparison
IBCC.DE has a 0.07% expense ratio, which is higher than TRD3.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. TRD3.DE - Dividend Comparison
IBCC.DE's dividend yield for the trailing twelve months is around 3.99%, more than TRD3.DE's 3.82% 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% |
TRD3.DE Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist | 3.82% | 4.18% | 4.28% | 4.20% | 2.04% | 0.31% | 1.28% | 1.96% |
Frequently Asked Questions
IBCC.DE and TRD3.DE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRD3.DE is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRD3.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 TRD3.DE tracks Bloomberg US Treasury 1-3 Year Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.07% for IBCC.DE and 0.06% for TRD3.DE.
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