IBTA.L vs. TRSX.L
IBTA.L (iShares USD Treasury Bond 1-3yr UCITS ETF (Acc)) and TRSX.L (SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF) are both Government Bonds funds - IBTA.L tracks the ICE US Treasury 1-3 Year Index while TRSX.L tracks the Bloomberg US 7-10 Year Treasury Bond Index. Both are passively managed. Over the past 5 years, IBTA.L returned 1.92%/yr vs -1.09%/yr for TRSX.L. A 0.61 correlation means they provide meaningful diversification when combined. IBTA.L charges 0.07%/yr vs 0.05%/yr for TRSX.L.
Performance
IBTA.L vs. TRSX.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBTA.L achieves a 0.51% return, which is significantly higher than TRSX.L's -0.84% return.
IBTA.L
- 1D
- 0.17%
- 1M
- 0.34%
- YTD
- 0.51%
- 6M
- 0.85%
- 1Y
- 3.12%
- 3Y*
- 4.33%
- 5Y*
- 1.92%
- 10Y*
- —
TRSX.L
- 1D
- 0.12%
- 1M
- 0.90%
- YTD
- -0.84%
- 6M
- -0.28%
- 1Y
- 3.01%
- 3Y*
- 2.76%
- 5Y*
- -1.09%
- 10Y*
- 0.55%
IBTA.L vs. TRSX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 0.51% | 5.34% | 4.07% | 4.21% | -3.75% | -0.64% | 3.14% | 3.62% | 1.40% | -0.20% |
TRSX.L SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF | -0.84% | 8.40% | -0.27% | 3.37% | -15.02% | -3.14% | 9.54% | 8.79% | 0.61% | 0.42% |
Correlation
The correlation between IBTA.L and TRSX.L is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2017 | 0.61 |
The correlation between IBTA.L and TRSX.L shifts across timeframes, from 0.59 (1 year) to 0.70 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBTA.L vs. TRSX.L — Risk / Return Rank
IBTA.L
TRSX.L
IBTA.L vs. TRSX.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 SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF (TRSX.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.
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.
| IBTA.L | TRSX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.27 | ||
| Sortino ratioReturn per unit of downside risk | +2.13 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.12 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 4.62 | 0.77 | +3.85 |
| Martin ratioReturn relative to average drawdown | 15.80 | 2.19 | +13.61 |
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Drawdowns
IBTA.L vs. TRSX.L - Drawdown Comparison
The maximum IBTA.L drawdown since its inception was -5.80%, smaller than the maximum TRSX.L drawdown of -23.62%. Use the drawdown chart below to compare losses from any high point for IBTA.L and TRSX.L.
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Drawdown Indicators
| IBTA.L | TRSX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.80% | -23.62% | +17.82% |
Max Drawdown (1Y)Largest decline over 1 year | -0.67% | -4.05% | +3.38% |
Max Drawdown (3Y)Largest decline over 3 years | -0.89% | -7.36% | +6.47% |
Max Drawdown (5Y)Largest decline over 5 years | -5.70% | -21.08% | +15.38% |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.62% | — |
Current DrawdownCurrent decline from peak | 0.00% | -10.84% | +10.84% |
Average DrawdownAverage peak-to-trough decline | -0.96% | -8.80% | +7.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 1.43% | -1.23% |
Volatility
IBTA.L vs. TRSX.L - Volatility Comparison
The current volatility for iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) (IBTA.L) is 0.54%, while SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF (TRSX.L) has a volatility of 1.29%. This indicates that IBTA.L experiences smaller price fluctuations and is considered to be less risky than TRSX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTA.L | TRSX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.54% | 1.29% | -0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 1.13% | 3.36% | -2.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.59% | 4.49% | -2.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.17% | 7.44% | -5.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.93% | 6.32% | -4.39% |
IBTA.L vs. TRSX.L - Expense Ratio Comparison
IBTA.L has a 0.07% expense ratio, which is higher than TRSX.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
IBTA.L vs. TRSX.L - Dividend Comparison
IBTA.L has not paid dividends to shareholders, while TRSX.L's dividend yield for the trailing twelve months is around 4.09%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
IBTA.L iShares USD Treasury Bond 1-3yr UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TRSX.L SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF | 4.09% | 3.90% | 3.57% | 2.71% | 1.65% | 1.02% | 1.56% | 2.34% | 2.07% | 1.88% | 0.74% |
Frequently Asked Questions
IBTA.L and TRSX.L have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRSX.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRSX.L is cheaper with a 0.05% expense ratio, compared with 0.07% for IBTA.L.
IBTA.L tracks ICE US Treasury 1-3 Year Index, while TRSX.L tracks Bloomberg US 7-10 Year Treasury Bond Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.07% for IBTA.L and 0.05% for TRSX.L.
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