SPP3.DE vs. TRD1.DE
SPP3.DE (SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF) and TRD1.DE (Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist) are both Government Bonds funds - SPP3.DE tracks the Bloomberg US 3-7 Year Treasury Bond while TRD1.DE tracks the Bloomberg US Treasury Coupons Index. Both are passively managed. Over the past 5 years, SPP3.DE returned 0.94%/yr vs 3.97%/yr for TRD1.DE. A 0.74 correlation means they provide meaningful diversification when combined. SPP3.DE charges 0.15%/yr vs 0.06%/yr for TRD1.DE.
Performance
SPP3.DE vs. TRD1.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPP3.DE achieves a 2.70% return, which is significantly lower than TRD1.DE's 4.62% return.
SPP3.DE
- 1D
- 0.16%
- 1M
- 1.32%
- 6M
- 1.57%
- YTD
- 2.70%
- 1Y
- 4.44%
- 3Y*
- 3.10%
- 5Y*
- 0.94%
- 10Y*
- 0.85%
TRD1.DE
- 1D
- 0.00%
- 1M
- 1.46%
- 6M
- 2.92%
- YTD
- 4.62%
- 1Y
- 5.14%
- 3Y*
- 3.93%
- 5Y*
- 3.97%
- 10Y*
- —
SPP3.DE vs. TRD1.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SPP3.DE SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | 2.70% | -4.58% | 7.67% | 0.68% | -3.88% | 5.69% | -4.01% |
TRD1.DE Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist | 4.62% | -7.35% | 11.23% | 1.38% | 6.73% | 8.36% | -17.72% |
Correlation
The correlation between SPP3.DE and TRD1.DE is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2020 | 0.74 |
The correlation between SPP3.DE and TRD1.DE has been stable across timeframes, ranging from 0.74 to 0.80 - a consistent structural relationship.
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Return for Risk
SPP3.DE vs. TRD1.DE — Risk / Return Rank
SPP3.DE
TRD1.DE
SPP3.DE vs. TRD1.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (SPP3.DE) and Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist (TRD1.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.
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.
| SPP3.DE | TRD1.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.15 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 1.38 | -0.30 |
| Martin ratioReturn relative to average drawdown | 2.84 | 3.62 | -0.77 |
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Drawdowns
SPP3.DE vs. TRD1.DE - Drawdown Comparison
The maximum SPP3.DE drawdown since its inception was -21.43%, which is greater than TRD1.DE's maximum drawdown of -17.81%. Use the drawdown chart below to compare losses from any high point for SPP3.DE and TRD1.DE.
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Drawdown Indicators
| SPP3.DE | TRD1.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.43% | -17.81% | -3.62% |
Max Drawdown (1Y)Largest decline over 1 year | -4.07% | -3.70% | -0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -9.93% | -11.60% | +1.67% |
Max Drawdown (5Y)Largest decline over 5 years | -12.33% | -11.70% | -0.63% |
Max Drawdown (10Y)Largest decline over 10 years | -21.43% | — | — |
Current DrawdownCurrent decline from peak | -5.14% | -5.39% | +0.25% |
Average DrawdownAverage peak-to-trough decline | -8.92% | -8.29% | -0.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.56% | 1.42% | +0.14% |
Volatility
SPP3.DE vs. TRD1.DE - Volatility Comparison
SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (SPP3.DE) has a higher volatility of 1.20% compared to Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist (TRD1.DE) at 1.12%. This indicates that SPP3.DE's price experiences larger fluctuations and is considered to be riskier than TRD1.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPP3.DE | TRD1.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 1.12% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.63% | 4.63% | -1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.24% | 6.21% | -0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.54% | 7.48% | +0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.57% | 8.09% | +2.48% |
SPP3.DE vs. TRD1.DE - Expense Ratio Comparison
SPP3.DE has a 0.15% expense ratio, which is higher than TRD1.DE'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
SPP3.DE vs. TRD1.DE - Dividend Comparison
SPP3.DE's dividend yield for the trailing twelve months is around 3.84%, which matches TRD1.DE's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
SPP3.DE SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | 3.84% | 3.96% | 3.12% | 1.99% | 1.13% | 0.93% | 1.80% | 2.12% | 1.59% | 1.48% | 0.44% |
TRD1.DE Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist | 3.86% | 4.35% | 4.82% | 4.70% | 1.55% | 0.10% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPP3.DE and TRD1.DE have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRD1.DE is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRD1.DE is cheaper with a 0.06% expense ratio, compared with 0.15% for SPP3.DE.
SPP3.DE tracks Bloomberg US 3-7 Year Treasury Bond, while TRD1.DE tracks Bloomberg US Treasury Coupons Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.15% for SPP3.DE and 0.06% for TRD1.DE.
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