IBTU.L vs. TR3G.L
IBTU.L (iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist)) and TR3G.L (Invesco US Treasury Bond 1-3 Year UCITS ETF Dist) are both Government Bonds funds - IBTU.L tracks the ICE U.S. Treasury Short Bond Index while TR3G.L tracks the Bloomberg US 1-3 Year Treasury Bond Index. Both are passively managed. Over the past 5 years, IBTU.L returned 3.38%/yr vs 1.85%/yr for TR3G.L. At a 0.08 correlation, their price movements are largely independent. IBTU.L charges 0.07%/yr vs 0.06%/yr for TR3G.L.
Performance
IBTU.L vs. TR3G.L - Performance Comparison
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Different Trading Currencies
IBTU.L is traded in USD, while TR3G.L is traded in GBp. To make them comparable, the TR3G.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IBTU.L achieves a 1.39% return, which is significantly higher than TR3G.L's 0.44% return.
IBTU.L
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 1.39%
- 6M
- 1.77%
- 1Y
- 3.95%
- 3Y*
- 4.74%
- 5Y*
- 3.38%
- 10Y*
- —
TR3G.L
- 1D
- 0.18%
- 1M
- 0.27%
- YTD
- 0.44%
- 6M
- 1.05%
- 1Y
- 3.43%
- 3Y*
- 4.13%
- 5Y*
- 1.85%
- 10Y*
- —
IBTU.L vs. TR3G.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 1.39% | 4.36% | 5.23% | 4.96% | 1.09% | -0.01% | 0.96% | 1.94% |
TR3G.L Invesco US Treasury Bond 1-3 Year UCITS ETF Dist | 0.45% | 5.42% | 4.06% | 3.62% | -3.82% | -0.28% | 2.72% | 3.62% |
Correlation
The correlation between IBTU.L and TR3G.L is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2019 | 0.08 |
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Return for Risk
IBTU.L vs. TR3G.L — Risk / Return Rank
IBTU.L
TR3G.L
IBTU.L vs. TR3G.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) and Invesco US Treasury Bond 1-3 Year UCITS ETF Dist (TR3G.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.
| IBTU.L | TR3G.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.31 | ||
| Sortino ratioReturn per unit of downside risk | +16.03 | ||
| Omega ratioGain probability vs. loss probability | 3.95 | 1.14 | +2.81 |
| Calmar ratioReturn relative to maximum drawdown | 24.79 | 3.06 | +21.73 |
| Martin ratioReturn relative to average drawdown | 183.92 | 9.27 | +174.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBTU.L | TR3G.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 8.12 | 0.81 | +7.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 6.79 | 0.36 | +6.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | 5.05 | 0.41 | +4.64 |
Drawdowns
IBTU.L vs. TR3G.L - Drawdown Comparison
The maximum IBTU.L drawdown since its inception was -0.62%, smaller than the maximum TR3G.L drawdown of -7.25%. Use the drawdown chart below to compare losses from any high point for IBTU.L and TR3G.L.
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Drawdown Indicators
| IBTU.L | TR3G.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.62% | -7.25% | +6.63% |
Max Drawdown (1Y)Largest decline over 1 year | -0.16% | -1.12% | +0.96% |
Max Drawdown (3Y)Largest decline over 3 years | -0.16% | -1.47% | +1.31% |
Max Drawdown (5Y)Largest decline over 5 years | -0.29% | -6.87% | +6.58% |
Current DrawdownCurrent decline from peak | 0.00% | -0.36% | +0.36% |
Average DrawdownAverage peak-to-trough decline | -0.03% | -1.61% | +1.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.37% | -0.35% |
Volatility
IBTU.L vs. TR3G.L - Volatility Comparison
The current volatility for iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) is 0.08%, while Invesco US Treasury Bond 1-3 Year UCITS ETF Dist (TR3G.L) has a volatility of 1.43%. This indicates that IBTU.L experiences smaller price fluctuations and is considered to be less risky than TR3G.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBTU.L | TR3G.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.08% | 1.43% | -1.35% |
Volatility (6M)Calculated over the trailing 6-month period | 0.31% | 3.38% | -3.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.49% | 4.20% | -3.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.50% | 5.08% | -4.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.54% | 5.28% | -4.74% |
IBTU.L vs. TR3G.L - Expense Ratio Comparison
IBTU.L has a 0.07% expense ratio, which is higher than TR3G.L'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
IBTU.L vs. TR3G.L - Dividend Comparison
IBTU.L's dividend yield for the trailing twelve months is around 4.07%, more than TR3G.L's 3.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.07% | 4.43% | 6.82% | 3.99% | 0.44% | 0.10% | 1.28% | 1.21% |
TR3G.L Invesco US Treasury Bond 1-3 Year UCITS ETF Dist | 3.95% | 4.10% | 4.31% | 4.18% | 1.99% | 0.31% | 1.28% | 2.01% |
Frequently Asked Questions
IBTU.L and TR3G.L have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TR3G.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TR3G.L is cheaper with a 0.06% expense ratio, compared with 0.07% for IBTU.L.
IBTU.L tracks ICE U.S. Treasury Short Bond Index, while TR3G.L tracks Bloomberg US 1-3 Year Treasury Bond Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.07% for IBTU.L and 0.06% for TR3G.L.
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