IMBA.L vs. TRE7.L
IMBA.L (iShares US Mortgage Backed Securities UCITS ETF (Acc)) and TRE7.L (Invesco US Treasury Bond 3-7 Year UCITS ETF Dist) are both exchange-traded funds - IMBA.L is a Mortgage Backed Securities fund tracking the Bloomberg US Mortgage Backed Securities Index, while TRE7.L is a Government Bonds fund tracking the Bloomberg US 3-7 Year Treasury Bond Index. Both are passively managed. Over the past 5 years, IMBA.L returned 0.11%/yr vs 0.38%/yr for TRE7.L. A 0.72 correlation means they provide meaningful diversification when combined. IMBA.L charges 0.28%/yr vs 0.06%/yr for TRE7.L.
Performance
IMBA.L vs. TRE7.L - Performance Comparison
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Returns By Period
In the year-to-date period, IMBA.L achieves a 0.11% return, which is significantly higher than TRE7.L's -0.43% return.
IMBA.L
- 1D
- 0.04%
- 1M
- -0.14%
- YTD
- 0.11%
- 6M
- 0.85%
- 1Y
- 6.02%
- 3Y*
- 4.11%
- 5Y*
- 0.11%
- 10Y*
- —
TRE7.L
- 1D
- 0.20%
- 1M
- -0.05%
- YTD
- -0.43%
- 6M
- -0.08%
- 1Y
- 3.24%
- 3Y*
- 3.70%
- 5Y*
- 0.38%
- 10Y*
- —
IMBA.L vs. TRE7.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IMBA.L iShares US Mortgage Backed Securities UCITS ETF (Acc) | 0.11% | 8.36% | 1.51% | 3.65% | -11.44% | -1.51% | 3.69% | 5.94% |
TRE7.L Invesco US Treasury Bond 3-7 Year UCITS ETF Dist | -0.43% | 7.31% | 2.08% | 4.25% | -9.37% | -2.35% | 6.98% | 5.81% |
Correlation
The correlation between IMBA.L and TRE7.L is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2019 | 0.72 |
The correlation between IMBA.L and TRE7.L shifts across timeframes, from 0.68 (1 year) to 0.79 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IMBA.L vs. TRE7.L — Risk / Return Rank
IMBA.L
TRE7.L
IMBA.L vs. TRE7.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares US Mortgage Backed Securities UCITS ETF (Acc) (IMBA.L) and Invesco US Treasury Bond 3-7 Year UCITS ETF Dist (TRE7.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.
| IMBA.L | TRE7.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.20 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | 1.29 | +0.56 |
| Martin ratioReturn relative to average drawdown | 6.41 | 4.09 | +2.32 |
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
| IMBA.L | TRE7.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 1.10 | +0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.08 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.42 | -0.21 |
Drawdowns
IMBA.L vs. TRE7.L - Drawdown Comparison
The maximum IMBA.L drawdown since its inception was -18.05%, which is greater than TRE7.L's maximum drawdown of -14.12%. Use the drawdown chart below to compare losses from any high point for IMBA.L and TRE7.L.
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Drawdown Indicators
| IMBA.L | TRE7.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.05% | -14.12% | -3.93% |
Max Drawdown (1Y)Largest decline over 1 year | -3.24% | -2.51% | -0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -7.48% | -3.71% | -3.77% |
Max Drawdown (5Y)Largest decline over 5 years | -17.67% | -13.54% | -4.13% |
Current DrawdownCurrent decline from peak | -1.60% | -1.59% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -4.49% | -4.44% | -0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.79% | +0.15% |
Volatility
IMBA.L vs. TRE7.L - Volatility Comparison
iShares US Mortgage Backed Securities UCITS ETF (Acc) (IMBA.L) has a higher volatility of 1.82% compared to Invesco US Treasury Bond 3-7 Year UCITS ETF Dist (TRE7.L) at 1.20%. This indicates that IMBA.L's price experiences larger fluctuations and is considered to be riskier than TRE7.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IMBA.L | TRE7.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.82% | 1.20% | +0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 3.72% | 2.14% | +1.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.91% | 2.96% | +1.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.18% | 4.75% | +2.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.75% | 4.26% | +1.49% |
IMBA.L vs. TRE7.L - Expense Ratio Comparison
IMBA.L has a 0.28% expense ratio, which is higher than TRE7.L's 0.06% expense ratio.
Dividends
IMBA.L vs. TRE7.L - Dividend Comparison
IMBA.L has not paid dividends to shareholders, while TRE7.L's dividend yield for the trailing twelve months is around 4.14%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IMBA.L iShares US Mortgage Backed Securities UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TRE7.L Invesco US Treasury Bond 3-7 Year UCITS ETF Dist | 4.14% | 4.09% | 4.23% | 3.61% | 1.72% | 0.87% | 1.29% | 1.89% |
Frequently Asked Questions
IMBA.L and TRE7.L have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRE7.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRE7.L is cheaper with a 0.06% expense ratio, compared with 0.28% for IMBA.L.
IMBA.L is categorized as Mortgage Backed Securities, while TRE7.L is Government Bonds. IMBA.L tracks Bloomberg US Mortgage Backed Securities Index, while TRE7.L tracks Bloomberg US 3-7 Year Treasury Bond Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.28% for IMBA.L and 0.06% for TRE7.L.
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