IGAA.L vs. TREI.L
IGAA.L (iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc)) and TREI.L (Invesco US Treasury Bond 0-1 Year UCITS ETF) are both Government Bonds funds - IGAA.L tracks the iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc) while TREI.L tracks the Invesco US Treasury Bond 0-1 Year UCITS ETF. Both are passively managed. Over the past 5 years, IGAA.L returned -0.18%/yr vs 3.32%/yr for TREI.L. At a 0.12 correlation, their price movements are largely independent. IGAA.L charges 0.50%/yr vs 0.06%/yr for TREI.L.
Performance
IGAA.L vs. TREI.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IGAA.L achieves a -4.55% return, which is significantly lower than TREI.L's 1.77% return.
IGAA.L
- 1D
- -0.35%
- 1M
- -0.87%
- 6M
- -4.22%
- YTD
- -4.55%
- 1Y
- -5.18%
- 3Y*
- 1.27%
- 5Y*
- -0.18%
- 10Y*
- —
TREI.L
- 1D
- 0.00%
- 1M
- 0.22%
- 6M
- 1.65%
- YTD
- 1.77%
- 1Y
- 3.91%
- 3Y*
- 4.63%
- 5Y*
- 3.32%
- 10Y*
- —
IGAA.L vs. TREI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IGAA.L iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc) | -4.55% | 5.88% | 1.45% | 4.93% | -8.03% | -4.34% | 8.12% |
TREI.L Invesco US Treasury Bond 0-1 Year UCITS ETF | 1.77% | 4.31% | 5.17% | 4.98% | 0.53% | -0.02% | 1.12% |
Correlation
The correlation between IGAA.L and TREI.L is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2020 | 0.12 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IGAA.L vs. TREI.L — Risk / Return Rank
IGAA.L
TREI.L
IGAA.L vs. TREI.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc) (IGAA.L) and Invesco US Treasury Bond 0-1 Year UCITS ETF (TREI.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.
| IGAA.L | TREI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.49 | ||
| Sortino ratioReturn per unit of downside risk | -12.19 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 4.71 | -3.86 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 13.21 | -13.99 |
| Martin ratioReturn relative to average drawdown | -1.62 | 159.95 | -161.57 |
Loading charts...
Drawdowns
IGAA.L vs. TREI.L - Drawdown Comparison
The maximum IGAA.L drawdown since its inception was -21.59%, which is greater than TREI.L's maximum drawdown of -0.68%. Use the drawdown chart below to compare losses from any high point for IGAA.L and TREI.L.
Loading charts...
Drawdown Indicators
| IGAA.L | TREI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.59% | -0.68% | -20.91% |
Max Drawdown (1Y)Largest decline over 1 year | -6.63% | -0.29% | -6.34% |
Max Drawdown (3Y)Largest decline over 3 years | -7.68% | -0.29% | -7.39% |
Max Drawdown (5Y)Largest decline over 5 years | -18.76% | -0.67% | -18.09% |
Current DrawdownCurrent decline from peak | -5.97% | 0.00% | -5.97% |
Average DrawdownAverage peak-to-trough decline | -5.56% | -0.06% | -5.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.19% | 0.02% | +3.17% |
Volatility
IGAA.L vs. TREI.L - Volatility Comparison
iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc) (IGAA.L) has a higher volatility of 1.46% compared to Invesco US Treasury Bond 0-1 Year UCITS ETF (TREI.L) at 0.10%. This indicates that IGAA.L's price experiences larger fluctuations and is considered to be riskier than TREI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IGAA.L | TREI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 0.10% | +1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 4.91% | 0.50% | +4.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.60% | 0.59% | +5.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.29% | 0.55% | +5.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.13% | 0.56% | +5.57% |
IGAA.L vs. TREI.L - Expense Ratio Comparison
IGAA.L has a 0.50% expense ratio, which is higher than TREI.L's 0.06% expense ratio.
Dividends
IGAA.L vs. TREI.L - Dividend Comparison
IGAA.L has not paid dividends to shareholders, while TREI.L's dividend yield for the trailing twelve months is around 3.92%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
IGAA.L iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TREI.L Invesco US Treasury Bond 0-1 Year UCITS ETF | 3.92% | 4.23% | 4.98% | 4.59% | 1.51% | 0.10% | 0.69% |
Frequently Asked Questions
IGAA.L and TREI.L have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TREI.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TREI.L is cheaper with a 0.06% expense ratio, compared with 0.50% for IGAA.L.
IGAA.L tracks iShares Emerging Asia Local Govt Bond UCITS ETF USD (Acc), while TREI.L tracks Invesco US Treasury Bond 0-1 Year UCITS ETF. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.50% for IGAA.L and 0.06% for TREI.L.
Find the right allocation for IGAA.L and TREI.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer