IBTA.L vs. TIGB.L

Last updated Jun 5, 2026

IBTA.L (iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)) and TIGB.L (Invesco US Treasury Bond 0-1 Year UCITS ETF GBP Hedged Dist) are both exchange-traded funds - IBTA.L is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index, while TIGB.L is a Short-Term Bond fund tracking the Bloomberg US Treasury Coupons Index. Both are passively managed. Over the past 3 years, IBTA.L returned 4.23%/yr vs 7.17%/yr for TIGB.L. At a 0.25 correlation, their price movements are largely independent. IBTA.L charges 0.07%/yr vs 0.10%/yr for TIGB.L.

Performance

IBTA.L vs. TIGB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) and Invesco US Treasury Bond 0-1 Year UCITS ETF GBP Hedged Dist (TIGB.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IBTA.L is traded in USD, while TIGB.L is traded in GBp. To make them comparable, the TIGB.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IBTA.L achieves a 0.46% return, which is significantly lower than TIGB.L's 1.17% return.

IBTA.L

• 1D: 0.13%
• 1M: 0.13%
• YTD: 0.46%
• 6M: 0.92%
• 1Y: 3.43%
• 3Y*: 4.23%
• 5Y*: 1.87%
• 10Y*: —

TIGB.L

• 1D: 0.14%
• 1M: -0.56%
• YTD: 1.17%
• 6M: 2.50%
• 1Y: 2.79%
• 3Y*: 7.17%
• 5Y*: —
• 10Y*: —

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

IBTA.L vs. TIGB.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)	0.46%	5.30%	4.11%	4.15%	-2.78%
TIGB.L Invesco US Treasury Bond 0-1 Year UCITS ETF GBP Hedged Dist	1.17%	11.96%	3.19%	10.42%	-11.15%

Correlation

The correlation between IBTA.L and TIGB.L is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (All Time) Calculated using the full available price history since Feb 7, 2022	0.25

Return for Risk

IBTA.L vs. TIGB.L — Risk / Return Rank

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

IBTA.L

IBTA.L Risk / Return Rank: 88
IBTA.L Sharpe Ratio Rank: 86
IBTA.L Sortino Ratio Rank: 93
IBTA.L Omega Ratio Rank: 91
IBTA.L Calmar Ratio Rank: 85
IBTA.L Martin Ratio Rank: 85

TIGB.L

TIGB.L Risk / Return Rank: 97
TIGB.L Sharpe Ratio Rank: 95
TIGB.L Sortino Ratio Rank: 97
TIGB.L Omega Ratio Rank: 98
TIGB.L Calmar Ratio Rank: 97
TIGB.L Martin Ratio Rank: 98

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.

IBTA.L vs. TIGB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) and Invesco US Treasury Bond 0-1 Year UCITS ETF GBP Hedged Dist (TIGB.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.

	IBTA.L	TIGB.L	Difference
Sharpe ratio: Return per unit of total volatility	2.80	0.41	+2.39
Sortino ratio: Return per unit of downside risk	4.61	0.65	+3.97
Omega ratio: Gain probability vs. loss probability	1.59	1.07	+0.51
Calmar ratio: Return relative to maximum drawdown	4.62	0.66	+3.96
Martin ratio: Return relative to average drawdown	17.47	1.41	+16.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBTA.L vs. TIGB.L - Sharpe Ratio Comparison

The current IBTA.L Sharpe Ratio is 2.80, which is higher than the TIGB.L Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of IBTA.L and TIGB.L, 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

	IBTA.L	TIGB.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.80	0.41	+2.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.93	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	0.39	+0.70

Drawdowns

IBTA.L vs. TIGB.L - Drawdown Comparison

The maximum IBTA.L drawdown since its inception was -5.80%, smaller than the maximum TIGB.L drawdown of -21.42%. Use the drawdown chart below to compare losses from any high point for IBTA.L and TIGB.L.

Drawdown Indicators

	IBTA.L	TIGB.L	Difference
Max Drawdown Largest peak-to-trough decline	-5.80%	-21.42%	+15.62%
Max Drawdown (1Y) Largest decline over 1 year	-0.74%	-4.25%	+3.51%
Max Drawdown (3Y) Largest decline over 3 years	-0.89%	-8.19%	+7.30%
Max Drawdown (5Y) Largest decline over 5 years	-5.70%	—	—
Current Drawdown Current decline from peak	-0.13%	-1.87%	+1.74%
Average Drawdown Average peak-to-trough decline	-0.97%	-3.79%	+2.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.20%	1.98%	-1.78%

Volatility

IBTA.L vs. TIGB.L - Volatility Comparison

The current volatility for iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) is 0.43%, while Invesco US Treasury Bond 0-1 Year UCITS ETF GBP Hedged Dist (TIGB.L) has a volatility of 1.67%. This indicates that IBTA.L experiences smaller price fluctuations and is considered to be less risky than TIGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBTA.L	TIGB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.43%	1.67%	-1.24%
Volatility (6M) Calculated over the trailing 6-month period	0.86%	4.91%	-4.05%
Volatility (1Y) Calculated over the trailing 1-year period	1.23%	6.76%	-5.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.00%	9.88%	-7.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.76%	9.88%	-8.12%

IBTA.L vs. TIGB.L - Expense Ratio Comparison

IBTA.L has a 0.07% expense ratio, which is lower than TIGB.L's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IBTA.L vs. TIGB.L - Dividend Comparison

IBTA.L has not paid dividends to shareholders, while TIGB.L's dividend yield for the trailing twelve months is around 3.92%.

Position	TTM	2025	2024	2023	2022
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%
TIGB.L Invesco US Treasury Bond 0-1 Year UCITS ETF GBP Hedged Dist	3.92%	4.11%	4.93%	4.53%	1.46%

Frequently Asked Questions

Can I hold both IBTA.L and TIGB.L in my portfolio?

IBTA.L and TIGB.L have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBTA.L or TIGB.L?

On fees, IBTA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBTA.L or TIGB.L?

IBTA.L is cheaper with a 0.07% expense ratio, compared with 0.10% for TIGB.L.

What is the main difference between IBTA.L and TIGB.L?

IBTA.L is categorized as Government Bonds, while TIGB.L is Short-Term Bond. IBTA.L tracks ICE US Treasury 1-3 Year Index, while TIGB.L tracks Bloomberg US Treasury Coupons Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.07% for IBTA.L and 0.10% for TIGB.L.