IBCL.DE vs. TRD1.DE
IBCL.DE (iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist)) and TRD1.DE (Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist) are both Government Bonds funds - IBCL.DE tracks the Bloomberg Euro Government Bond 15-30 Year Index while TRD1.DE tracks the Bloomberg US Treasury Coupons Index. Both are passively managed. Over the past 5 years, IBCL.DE returned -7.37%/yr vs 4.03%/yr for TRD1.DE. At a correlation of -0.09, they often move in opposite directions. IBCL.DE charges 0.15%/yr vs 0.06%/yr for TRD1.DE.
Performance
IBCL.DE vs. TRD1.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBCL.DE achieves a 1.09% return, which is significantly lower than TRD1.DE's 4.56% return.
IBCL.DE
- 1D
- -0.28%
- 1M
- 1.11%
- 6M
- 1.89%
- YTD
- 1.09%
- 1Y
- -1.73%
- 3Y*
- 0.28%
- 5Y*
- -7.37%
- 10Y*
- -2.57%
TRD1.DE
- 1D
- 0.20%
- 1M
- 2.07%
- 6M
- 4.34%
- YTD
- 4.56%
- 1Y
- 6.79%
- 3Y*
- 2.97%
- 5Y*
- 4.03%
- 10Y*
- —
IBCL.DE vs. TRD1.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IBCL.DE iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) | 1.09% | -5.38% | -0.90% | 9.73% | -34.35% | -6.57% | 11.01% |
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 IBCL.DE and TRD1.DE is -0.24, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2020 | -0.09 |
The correlation between IBCL.DE and TRD1.DE shifts across timeframes, from -0.24 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBCL.DE vs. TRD1.DE — Risk / Return Rank
IBCL.DE
TRD1.DE
IBCL.DE vs. TRD1.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) (IBCL.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.
| IBCL.DE | TRD1.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.26 | ||
| Sortino ratioReturn per unit of downside risk | -1.79 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.19 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 1.83 | -2.11 |
| Martin ratioReturn relative to average drawdown | -0.58 | 4.77 | -5.35 |
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Drawdowns
IBCL.DE vs. TRD1.DE - Drawdown Comparison
The maximum IBCL.DE drawdown since its inception was -43.80%, which is greater than TRD1.DE's maximum drawdown of -17.81%. Use the drawdown chart below to compare losses from any high point for IBCL.DE and TRD1.DE.
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Drawdown Indicators
| IBCL.DE | TRD1.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.80% | -17.81% | -25.99% |
Max Drawdown (1Y)Largest decline over 1 year | -6.13% | -3.70% | -2.43% |
Max Drawdown (3Y)Largest decline over 3 years | -11.97% | -11.60% | -0.37% |
Max Drawdown (5Y)Largest decline over 5 years | -42.19% | -11.70% | -30.49% |
Max Drawdown (10Y)Largest decline over 10 years | -43.80% | — | — |
Current DrawdownCurrent decline from peak | -36.74% | -5.44% | -31.30% |
Average DrawdownAverage peak-to-trough decline | -12.51% | -8.30% | -4.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.93% | 1.42% | +1.51% |
Volatility
IBCL.DE vs. TRD1.DE - Volatility Comparison
iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) (IBCL.DE) has a higher volatility of 2.18% compared to Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist (TRD1.DE) at 1.79%. This indicates that IBCL.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
| IBCL.DE | TRD1.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.18% | 1.79% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 7.15% | 4.67% | +2.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.15% | 6.32% | +2.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.67% | 7.48% | +6.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.50% | 8.11% | +3.39% |
IBCL.DE vs. TRD1.DE - Expense Ratio Comparison
IBCL.DE has a 0.15% 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
IBCL.DE vs. TRD1.DE - Dividend Comparison
IBCL.DE's dividend yield for the trailing twelve months is around 3.63%, less than TRD1.DE's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBCL.DE iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) | 3.63% | 3.53% | 3.19% | 2.64% | 1.31% | 0.53% | 0.74% | 1.26% | 1.50% | 1.35% | 1.47% | 1.83% |
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% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBCL.DE and TRD1.DE have a correlation of -0.24, 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 0.15% for IBCL.DE.
IBCL.DE tracks Bloomberg Euro Government Bond 15-30 Year Index, while TRD1.DE tracks Bloomberg US Treasury Coupons Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.15% for IBCL.DE and 0.06% for TRD1.DE.
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