SDIG.L vs. TRE3.L
SDIG.L (iShares $ Short Duration Corp Bond UCITS ETF USD (Dist)) and TRE3.L (Invesco US Treasury Bond 1-3 Year UCITS ETF USD (Dist)) are both exchange-traded funds - SDIG.L is a Short-Term Bond fund tracking the Markit iBoxx USD Liquid Investment Grade 0-5 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, SDIG.L returned 2.45%/yr vs 1.92%/yr for TRE3.L. A 0.61 correlation means they provide meaningful diversification when combined. SDIG.L charges 0.20%/yr vs 0.06%/yr for TRE3.L.
Performance
SDIG.L vs. TRE3.L - Performance Comparison
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Returns By Period
In the year-to-date period, SDIG.L achieves a 0.98% return, which is significantly higher than TRE3.L's 0.80% return.
SDIG.L
- 1D
- -0.03%
- 1M
- 0.16%
- 6M
- 1.03%
- YTD
- 0.98%
- 1Y
- 3.82%
- 3Y*
- 5.14%
- 5Y*
- 2.45%
- 10Y*
- 2.50%
TRE3.L
- 1D
- 0.05%
- 1M
- 0.16%
- 6M
- 0.90%
- YTD
- 0.80%
- 1Y
- 3.36%
- 3Y*
- 4.27%
- 5Y*
- 1.92%
- 10Y*
- —
SDIG.L vs. TRE3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SDIG.L iShares $ Short Duration Corp Bond UCITS ETF USD (Dist) | 0.98% | 6.12% | 4.93% | 5.83% | -4.83% | -0.48% | 4.51% | 5.92% |
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 SDIG.L and TRE3.L is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2019 | 0.61 |
The correlation between SDIG.L and TRE3.L shifts across timeframes, from 0.58 (1 year) to 0.70 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SDIG.L vs. TRE3.L — Risk / Return Rank
SDIG.L
TRE3.L
SDIG.L vs. TRE3.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Short Duration Corp Bond UCITS ETF USD (Dist) (SDIG.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.
| SDIG.L | TRE3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.46 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.25 | 4.61 | -1.36 |
| Martin ratioReturn relative to average drawdown | 13.59 | 14.13 | -0.54 |
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Drawdowns
SDIG.L vs. TRE3.L - Drawdown Comparison
The maximum SDIG.L drawdown since its inception was -11.39%, which is greater than TRE3.L's maximum drawdown of -5.66%. Use the drawdown chart below to compare losses from any high point for SDIG.L and TRE3.L.
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Drawdown Indicators
| SDIG.L | TRE3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.39% | -5.66% | -5.73% |
Max Drawdown (1Y)Largest decline over 1 year | -1.17% | -0.73% | -0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -1.18% | -0.97% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -7.59% | -5.66% | -1.93% |
Max Drawdown (10Y)Largest decline over 10 years | -11.39% | — | — |
Current DrawdownCurrent decline from peak | -0.17% | 0.00% | -0.17% |
Average DrawdownAverage peak-to-trough decline | -0.93% | -1.00% | +0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.28% | 0.24% | +0.04% |
Volatility
SDIG.L vs. TRE3.L - Volatility Comparison
iShares $ Short Duration Corp Bond UCITS ETF USD (Dist) (SDIG.L) has a higher volatility of 0.61% compared to Invesco US Treasury Bond 1-3 Year UCITS ETF USD (Dist) (TRE3.L) at 0.33%. This indicates that SDIG.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
| SDIG.L | TRE3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.61% | 0.33% | +0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 1.55% | 1.05% | +0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.94% | 1.66% | +0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.66% | 2.09% | +0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.75% | 1.83% | +1.92% |
SDIG.L vs. TRE3.L - Expense Ratio Comparison
SDIG.L has a 0.20% 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
SDIG.L vs. TRE3.L - Dividend Comparison
SDIG.L's dividend yield for the trailing twelve months is around 4.40%, more than TRE3.L's 3.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SDIG.L iShares $ Short Duration Corp Bond UCITS ETF USD (Dist) | 4.40% | 4.32% | 4.03% | 3.11% | 1.85% | 1.49% | 2.12% | 2.63% | 2.29% | 1.84% | 1.75% | 1.43% |
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
SDIG.L and TRE3.L have a correlation of 0.58, 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 0.20% for SDIG.L.
SDIG.L is categorized as Short-Term Bond, while TRE3.L is Government Bonds. SDIG.L tracks Markit iBoxx USD Liquid Investment Grade 0-5 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: 0.20% for SDIG.L and 0.06% for TRE3.L.
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