IBTU.L vs. TRS5.L
IBTU.L (iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist)) and TRS5.L (SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF) are both Government Bonds funds - IBTU.L tracks the ICE U.S. Treasury Short Bond Index while TRS5.L tracks the Bloomberg US 3-7 Year Treasury Bond Index. Both are passively managed. Over the past 5 years, IBTU.L returned 3.42%/yr vs 0.46%/yr for TRS5.L. At a 0.05 correlation, their price movements are largely independent. IBTU.L charges 0.07%/yr vs 0.05%/yr for TRS5.L.
Performance
IBTU.L vs. TRS5.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBTU.L achieves a 1.56% return, which is significantly higher than TRS5.L's -0.06% return.
IBTU.L
- 1D
- 0.00%
- 1M
- 0.40%
- YTD
- 1.56%
- 6M
- 1.76%
- 1Y
- 3.93%
- 3Y*
- 4.69%
- 5Y*
- 3.42%
- 10Y*
- —
TRS5.L
- 1D
- 0.18%
- 1M
- 0.61%
- YTD
- -0.06%
- 6M
- 0.36%
- 1Y
- 3.01%
- 3Y*
- 3.87%
- 5Y*
- 0.46%
- 10Y*
- 1.21%
IBTU.L vs. TRS5.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) | 1.56% | 4.33% | 5.31% | 4.92% | 1.05% | 0.10% | 0.88% | 2.02% |
TRS5.L SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | -0.06% | 7.28% | 2.01% | 4.18% | -9.49% | -2.44% | 6.78% | 4.81% |
Correlation
The correlation between IBTU.L and TRS5.L is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2019 | 0.05 |
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Return for Risk
IBTU.L vs. TRS5.L — Risk / Return Rank
IBTU.L
TRS5.L
IBTU.L vs. TRS5.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 SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (TRS5.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.
| IBTU.L | TRS5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.36 | ||
| Sortino ratioReturn per unit of downside risk | +5.53 | ||
| Omega ratioGain probability vs. loss probability | 3.47 | 1.19 | +2.28 |
| Calmar ratioReturn relative to maximum drawdown | 19.33 | 1.20 | +18.13 |
| Martin ratioReturn relative to average drawdown | 83.96 | 3.39 | +80.57 |
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Drawdowns
IBTU.L vs. TRS5.L - Drawdown Comparison
The maximum IBTU.L drawdown since its inception was -0.72%, smaller than the maximum TRS5.L drawdown of -14.35%. Use the drawdown chart below to compare losses from any high point for IBTU.L and TRS5.L.
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Drawdown Indicators
| IBTU.L | TRS5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.72% | -14.35% | +13.63% |
Max Drawdown (1Y)Largest decline over 1 year | -0.20% | -2.50% | +2.30% |
Max Drawdown (3Y)Largest decline over 3 years | -0.20% | -3.72% | +3.52% |
Max Drawdown (5Y)Largest decline over 5 years | -0.40% | -13.64% | +13.24% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.35% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.27% | +1.27% |
Average DrawdownAverage peak-to-trough decline | -0.06% | -3.79% | +3.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 0.89% | -0.84% |
Volatility
IBTU.L vs. TRS5.L - Volatility Comparison
The current volatility for iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) is 0.28%, while SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (TRS5.L) has a volatility of 0.87%. This indicates that IBTU.L experiences smaller price fluctuations and is considered to be less risky than TRS5.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 | TRS5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.28% | 0.87% | -0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 0.82% | 2.19% | -1.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.15% | 2.86% | -1.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.02% | 4.72% | -3.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.95% | 3.76% | -2.81% |
IBTU.L vs. TRS5.L - Expense Ratio Comparison
IBTU.L has a 0.07% expense ratio, which is higher than TRS5.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
IBTU.L vs. TRS5.L - Dividend Comparison
IBTU.L's dividend yield for the trailing twelve months is around 4.06%, more than TRS5.L's 3.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.06% | 4.43% | 6.82% | 3.99% | 0.44% | 0.10% | 1.28% | 1.21% | 0.00% | 0.00% | 0.00% |
TRS5.L SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | 3.92% | 3.68% | 3.24% | 1.97% | 1.12% | 0.98% | 1.66% | 2.13% | 1.66% | 1.40% | 0.47% |
Frequently Asked Questions
IBTU.L and TRS5.L have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRS5.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRS5.L is cheaper with a 0.05% expense ratio, compared with 0.07% for IBTU.L.
IBTU.L tracks ICE U.S. Treasury Short Bond Index, while TRS5.L tracks Bloomberg US 3-7 Year Treasury Bond Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.07% for IBTU.L and 0.05% for TRS5.L.
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