IDBT.L vs. TRE3.L
IDBT.L (iShares $ Treasury Bond 1-3yr UCITS ETF USD (Dist)) and TRE3.L (Invesco US Treasury Bond 1-3 Year UCITS ETF USD (Dist)) are both exchange-traded funds - IDBT.L is a Short-Term Bond fund tracking the ICE U.S. Treasury 1-3 Year Bond Index, while TRE3.L is a Government Bonds fund tracking the Bloomberg US Treasury 1-3 Year Index. Both are passively managed. Over the past 5 years, IDBT.L returned 1.93%/yr vs 1.92%/yr for TRE3.L. Their correlation of 0.82 suggests significant overlap in exposure. IDBT.L charges 0.07%/yr vs 0.06%/yr for TRE3.L.
Performance
IDBT.L vs. TRE3.L - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with IDBT.L at 0.80% and TRE3.L at 0.80%.
IDBT.L
- 1D
- 0.02%
- 1M
- 0.18%
- 6M
- 0.91%
- YTD
- 0.80%
- 1Y
- 3.28%
- 3Y*
- 4.28%
- 5Y*
- 1.93%
- 10Y*
- 1.76%
TRE3.L
- 1D
- 0.05%
- 1M
- 0.16%
- 6M
- 0.90%
- YTD
- 0.80%
- 1Y
- 3.36%
- 3Y*
- 4.27%
- 5Y*
- 1.92%
- 10Y*
- —
IDBT.L vs. TRE3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IDBT.L iShares $ Treasury Bond 1-3yr UCITS ETF USD (Dist) | 0.80% | 5.28% | 4.03% | 4.16% | -3.71% | -0.64% | 3.13% | 3.15% |
TRE3.L Invesco US Treasury Bond 1-3 Year UCITS ETF USD (Dist) | 0.80% | 5.13% | 4.14% | 4.22% | -3.83% | -0.60% | 3.11% | 3.56% |
Correlation
The correlation between IDBT.L and TRE3.L is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2019 | 0.82 |
The correlation between IDBT.L and TRE3.L has been stable across timeframes, ranging from 0.78 to 0.87 - a consistent structural relationship.
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Return for Risk
IDBT.L vs. TRE3.L — Risk / Return Rank
IDBT.L
TRE3.L
IDBT.L vs. TRE3.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Treasury Bond 1-3yr UCITS ETF USD (Dist) (IDBT.L) and Invesco US Treasury Bond 1-3 Year UCITS ETF USD (Dist) (TRE3.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.
| IDBT.L | TRE3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.72 | ||
| Sortino ratioReturn per unit of downside risk | +1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.46 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 4.53 | 4.61 | -0.07 |
| Martin ratioReturn relative to average drawdown | 17.53 | 14.13 | +3.40 |
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Drawdowns
IDBT.L vs. TRE3.L - Drawdown Comparison
The maximum IDBT.L drawdown since its inception was -5.66%, roughly equal to the maximum TRE3.L drawdown of -5.66%. Use the drawdown chart below to compare losses from any high point for IDBT.L and TRE3.L.
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Drawdown Indicators
| IDBT.L | TRE3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.66% | -5.66% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -0.72% | -0.73% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -0.97% | -0.97% | 0.00% |
Max Drawdown (5Y)Largest decline over 5 years | -5.66% | -5.66% | 0.00% |
Max Drawdown (10Y)Largest decline over 10 years | -5.66% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.56% | -1.00% | +0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.19% | 0.24% | -0.05% |
Volatility
IDBT.L vs. TRE3.L - Volatility Comparison
iShares $ Treasury Bond 1-3yr UCITS ETF USD (Dist) (IDBT.L) has a higher volatility of 0.36% compared to Invesco US Treasury Bond 1-3 Year UCITS ETF USD (Dist) (TRE3.L) at 0.33%. This indicates that IDBT.L's price experiences larger fluctuations and is considered to be riskier than TRE3.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IDBT.L | TRE3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.36% | 0.33% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 0.92% | 1.05% | -0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.20% | 1.66% | -0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.99% | 2.09% | -0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.77% | 1.83% | -0.06% |
IDBT.L vs. TRE3.L - Expense Ratio Comparison
IDBT.L has a 0.07% expense ratio, which is higher than TRE3.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
IDBT.L vs. TRE3.L - Dividend Comparison
IDBT.L's dividend yield for the trailing twelve months is around 3.99%, more than TRE3.L's 3.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IDBT.L iShares $ Treasury Bond 1-3yr UCITS ETF USD (Dist) | 3.99% | 4.15% | 4.25% | 2.97% | 0.74% | 0.63% | 1.71% | 2.31% | 1.57% | 0.96% | 0.74% | 0.51% |
TRE3.L Invesco US Treasury Bond 1-3 Year UCITS ETF USD (Dist) | 3.89% | 4.07% | 4.41% | 4.10% | 1.99% | 0.32% | 1.19% | 1.95% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IDBT.L and TRE3.L have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRE3.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRE3.L is cheaper with a 0.06% expense ratio, compared with 0.07% for IDBT.L.
IDBT.L is categorized as Short-Term Bond, while TRE3.L is Government Bonds. IDBT.L tracks ICE U.S. Treasury 1-3 Year Bond Index, while TRE3.L tracks Bloomberg US Treasury 1-3 Year Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.07% for IDBT.L and 0.06% for TRE3.L.
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