IS04.DE vs. PRAS.DE

Last updated Jun 5, 2026

IS04.DE (iShares USD Treasury Bond 20+yr UCITS ETF (Dist)) and PRAS.DE (Amundi Prime US Treasury UCITS ETF) are both Government Bonds funds - IS04.DE tracks the ICE U.S. Treasury 20+ Year Bond Index while PRAS.DE tracks the Solactive US Treasury Bond. Both are passively managed. Over the past 5 years, IS04.DE returned -5.21%/yr vs 0.57%/yr for PRAS.DE. A 0.76 correlation means they provide meaningful diversification when combined. IS04.DE charges 0.07%/yr vs 0.05%/yr for PRAS.DE.

Performance

IS04.DE vs. PRAS.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares USD Treasury Bond 20+yr UCITS ETF (Dist) (IS04.DE) and Amundi Prime US Treasury UCITS ETF (PRAS.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IS04.DE achieves a 0.81% return, which is significantly lower than PRAS.DE's 1.07% return.

IS04.DE

• 1D: 0.41%
• 1M: 1.45%
• YTD: 0.81%
• 6M: -0.81%
• 1Y: 2.13%
• 3Y*: -4.20%
• 5Y*: -5.21%
• 10Y*: -1.74%

PRAS.DE

• 1D: 0.03%
• 1M: 0.83%
• YTD: 1.07%
• 6M: 0.30%
• 1Y: 1.60%
• 3Y*: 0.10%
• 5Y*: 0.57%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IS04.DE vs. PRAS.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IS04.DE iShares USD Treasury Bond 20+yr UCITS ETF (Dist)	0.81%	-6.95%	-2.51%	-1.21%	-26.01%	3.49%	-0.99%
PRAS.DE Amundi Prime US Treasury UCITS ETF	1.07%	-5.52%	6.51%	0.42%	-6.75%	6.02%	-5.49%

Correlation

The correlation between IS04.DE and PRAS.DE is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Jan 30, 2020	0.76

The correlation between IS04.DE and PRAS.DE has been stable across timeframes, ranging from 0.67 to 0.76 - a consistent structural relationship.

Return for Risk

IS04.DE vs. PRAS.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IS04.DE

IS04.DE Risk / Return Rank: 12
IS04.DE Sharpe Ratio Rank: 12
IS04.DE Sortino Ratio Rank: 12
IS04.DE Omega Ratio Rank: 12
IS04.DE Calmar Ratio Rank: 13
IS04.DE Martin Ratio Rank: 12

PRAS.DE

PRAS.DE Risk / Return Rank: 13
PRAS.DE Sharpe Ratio Rank: 14
PRAS.DE Sortino Ratio Rank: 12
PRAS.DE Omega Ratio Rank: 12
PRAS.DE Calmar Ratio Rank: 14
PRAS.DE Martin Ratio Rank: 14

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IS04.DE vs. PRAS.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 20+yr UCITS ETF (Dist) (IS04.DE) and Amundi Prime US Treasury UCITS ETF (PRAS.DE). 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.

	IS04.DE	PRAS.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.22	0.29	-0.07
Sortino ratio: Return per unit of downside risk	0.38	0.46	-0.07
Omega ratio: Gain probability vs. loss probability	1.04	1.05	-0.01
Calmar ratio: Return relative to maximum drawdown	0.29	0.41	-0.12
Martin ratio: Return relative to average drawdown	0.62	1.00	-0.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IS04.DE vs. PRAS.DE - Sharpe Ratio Comparison

The current IS04.DE Sharpe Ratio is 0.22, which is comparable to the PRAS.DE Sharpe Ratio of 0.29. The chart below compares the historical Sharpe Ratios of IS04.DE and PRAS.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IS04.DE	PRAS.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.22	0.29	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.34	0.07	-0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.12	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.09	-0.09	0.00

Drawdowns

IS04.DE vs. PRAS.DE - Drawdown Comparison

The maximum IS04.DE drawdown since its inception was -47.19%, which is greater than PRAS.DE's maximum drawdown of -17.44%. Use the drawdown chart below to compare losses from any high point for IS04.DE and PRAS.DE.

Drawdown Indicators

	IS04.DE	PRAS.DE	Difference
Max Drawdown Largest peak-to-trough decline	-47.19%	-17.44%	-29.75%
Max Drawdown (1Y) Largest decline over 1 year	-7.33%	-3.91%	-3.42%
Max Drawdown (3Y) Largest decline over 3 years	-18.47%	-11.09%	-7.38%
Max Drawdown (5Y) Largest decline over 5 years	-40.05%	-12.89%	-27.16%
Max Drawdown (10Y) Largest decline over 10 years	-47.19%	—	—
Current Drawdown Current decline from peak	-43.69%	-12.85%	-30.84%
Average Drawdown Average peak-to-trough decline	-21.89%	-11.40%	-10.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	1.60%	+1.85%

Volatility

IS04.DE vs. PRAS.DE - Volatility Comparison

iShares USD Treasury Bond 20+yr UCITS ETF (Dist) (IS04.DE) has a higher volatility of 2.47% compared to Amundi Prime US Treasury UCITS ETF (PRAS.DE) at 0.80%. This indicates that IS04.DE's price experiences larger fluctuations and is considered to be riskier than PRAS.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IS04.DE	PRAS.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.47%	0.80%	+1.67%
Volatility (6M) Calculated over the trailing 6-month period	6.52%	3.73%	+2.79%
Volatility (1Y) Calculated over the trailing 1-year period	9.70%	5.45%	+4.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.21%	8.00%	+7.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.69%	8.04%	+6.65%

IS04.DE vs. PRAS.DE - Expense Ratio Comparison

IS04.DE has a 0.07% expense ratio, which is higher than PRAS.DE'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

IS04.DE vs. PRAS.DE - Dividend Comparison

IS04.DE's dividend yield for the trailing twelve months is around 4.35%, while PRAS.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IS04.DE iShares USD Treasury Bond 20+yr UCITS ETF (Dist)	4.35%	4.38%	4.62%	3.82%	3.04%	1.71%	1.86%	2.49%	2.79%	2.72%	2.56%	2.14%
PRAS.DE Amundi Prime US Treasury UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IS04.DE and PRAS.DE in my portfolio?

IS04.DE and PRAS.DE have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IS04.DE or PRAS.DE?

On fees, PRAS.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IS04.DE or PRAS.DE?

PRAS.DE is cheaper with a 0.05% expense ratio, compared with 0.07% for IS04.DE.

What is the main difference between IS04.DE and PRAS.DE?

IS04.DE tracks ICE U.S. Treasury 20+ Year Bond Index, while PRAS.DE tracks Solactive US Treasury Bond. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.07% for IS04.DE and 0.05% for PRAS.DE.