SPP3.DE vs. TRDS.DE
SPP3.DE (SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF) and TRDS.DE (Invesco US Treasury Bond UCITS ETF Dist) are both Government Bonds funds - SPP3.DE tracks the Bloomberg US 3-7 Year Treasury Bond while TRDS.DE tracks the Bloomberg US Treasury Index. Both are passively managed. Over the past 5 years, SPP3.DE returned 1.43%/yr vs 0.24%/yr for TRDS.DE. Their correlation of 0.95 suggests significant overlap in exposure. SPP3.DE charges 0.15%/yr vs 0.06%/yr for TRDS.DE.
Performance
SPP3.DE vs. TRDS.DE - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with SPP3.DE at 0.86% and TRDS.DE at 0.86%.
SPP3.DE
- 1D
- 0.03%
- 1M
- 0.59%
- YTD
- 0.86%
- 6M
- 0.21%
- 1Y
- 1.40%
- 3Y*
- 0.87%
- 5Y*
- 1.43%
- 10Y*
- 1.16%
TRDS.DE
- 1D
- -0.02%
- 1M
- 0.72%
- YTD
- 0.86%
- 6M
- 0.02%
- 1Y
- 1.02%
- 3Y*
- -0.30%
- 5Y*
- 0.24%
- 10Y*
- —
SPP3.DE vs. TRDS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPP3.DE SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | 0.86% | -4.58% | 7.72% | 1.58% | -3.86% | 5.71% | -2.64% | 4.90% |
TRDS.DE Invesco US Treasury Bond UCITS ETF Dist | 0.86% | -5.91% | 6.16% | 0.07% | -6.97% | 5.67% | -2.04% | 6.04% |
Correlation
The correlation between SPP3.DE and TRDS.DE is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2019 | 0.95 |
The correlation between SPP3.DE and TRDS.DE has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
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Return for Risk
SPP3.DE vs. TRDS.DE — Risk / Return Rank
SPP3.DE
TRDS.DE
SPP3.DE vs. TRDS.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 UCITS ETF Dist (TRDS.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.
| SPP3.DE | TRDS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.03 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 0.24 | +0.10 |
| Martin ratioReturn relative to average drawdown | 0.87 | 0.60 | +0.27 |
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
| SPP3.DE | TRDS.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.26 | 0.18 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.03 | +0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.16 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.05 | +0.07 |
Drawdowns
SPP3.DE vs. TRDS.DE - Drawdown Comparison
The maximum SPP3.DE drawdown since its inception was -16.82%, smaller than the maximum TRDS.DE drawdown of -17.77%. Use the drawdown chart below to compare losses from any high point for SPP3.DE and TRDS.DE.
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Drawdown Indicators
| SPP3.DE | TRDS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.82% | -17.77% | +0.95% |
Max Drawdown (1Y)Largest decline over 1 year | -4.06% | -4.13% | +0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -9.95% | -11.21% | +1.26% |
Max Drawdown (5Y)Largest decline over 5 years | -11.51% | -13.10% | +1.59% |
Max Drawdown (10Y)Largest decline over 10 years | -16.82% | — | — |
Current DrawdownCurrent decline from peak | -6.25% | -14.15% | +7.90% |
Average DrawdownAverage peak-to-trough decline | -6.75% | -10.46% | +3.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 1.68% | -0.07% |
Volatility
SPP3.DE vs. TRDS.DE - Volatility Comparison
The current volatility for SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (SPP3.DE) is 0.76%, while Invesco US Treasury Bond UCITS ETF Dist (TRDS.DE) has a volatility of 0.93%. This indicates that SPP3.DE experiences smaller price fluctuations and is considered to be less risky than TRDS.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 | TRDS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.76% | 0.93% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 3.64% | 3.90% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.29% | 5.61% | -0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.72% | 8.04% | -0.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.35% | 7.80% | -0.45% |
SPP3.DE vs. TRDS.DE - Expense Ratio Comparison
SPP3.DE has a 0.15% expense ratio, which is higher than TRDS.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. TRDS.DE - Dividend Comparison
SPP3.DE's dividend yield for the trailing twelve months is around 3.91%, more than TRDS.DE's 3.65% 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 | 3.91% | 3.96% | 3.14% | 2.90% | 1.13% | 0.93% | 1.80% | 2.12% | 1.59% | 1.48% | 0.44% |
TRDS.DE Invesco US Treasury Bond UCITS ETF Dist | 3.65% | 3.76% | 3.83% | 3.58% | 1.90% | 0.94% | 1.47% | 1.48% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, SPP3.DE and TRDS.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, TRDS.DE is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRDS.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 TRDS.DE tracks Bloomberg US Treasury Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.15% for SPP3.DE and 0.06% for TRDS.DE.
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