SXRM.DE vs. TREX.L
SXRM.DE (iShares USD Treasury Bond 7-10yr UCITS ETF (Acc)) and TREX.L (Invesco US Treasury Bond 7-10 Year UCITS ETF Dist) are both Government Bonds funds - SXRM.DE tracks the ICE US Treasury 7-10 Year while TREX.L tracks the Bloomberg US 7-10 Year Treasury Bond Index. Both are passively managed. Over the past 5 years, SXRM.DE returned -1.07%/yr vs -1.05%/yr for TREX.L. With a 0.96 correlation, they move nearly in lockstep. SXRM.DE charges 0.07%/yr vs 0.06%/yr for TREX.L.
Performance
SXRM.DE vs. TREX.L - Performance Comparison
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Returns By Period
In the year-to-date period, SXRM.DE achieves a -0.59% return, which is significantly higher than TREX.L's -0.74% return.
SXRM.DE
- 1D
- 0.38%
- 1M
- 0.09%
- YTD
- -0.59%
- 6M
- 0.05%
- 1Y
- 4.19%
- 3Y*
- 2.95%
- 5Y*
- -1.07%
- 10Y*
- 0.67%
TREX.L
- 1D
- 0.40%
- 1M
- 0.12%
- YTD
- -0.74%
- 6M
- -0.02%
- 1Y
- 4.21%
- 3Y*
- 2.99%
- 5Y*
- -1.05%
- 10Y*
- —
SXRM.DE vs. TREX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SXRM.DE iShares USD Treasury Bond 7-10yr UCITS ETF (Acc) | -0.59% | 8.56% | -0.51% | 3.57% | -14.86% | -3.03% | 9.73% | 8.49% |
TREX.L Invesco US Treasury Bond 7-10 Year UCITS ETF Dist | -0.74% | 8.41% | -0.22% | 3.58% | -14.94% | -3.02% | 9.76% | 8.50% |
Correlation
The correlation between SXRM.DE and TREX.L is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2019 | 0.96 |
The correlation between SXRM.DE and TREX.L has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
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Return for Risk
SXRM.DE vs. TREX.L — Risk / Return Rank
SXRM.DE
TREX.L
SXRM.DE vs. TREX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 7-10yr UCITS ETF (Acc) (SXRM.DE) and Invesco US Treasury Bond 7-10 Year UCITS ETF Dist (TREX.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.
| SXRM.DE | TREX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.15 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.93 | 0.96 | -0.03 |
| Martin ratioReturn relative to average drawdown | 2.74 | 2.81 | -0.07 |
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Drawdowns
SXRM.DE vs. TREX.L - Drawdown Comparison
The maximum SXRM.DE drawdown since its inception was -23.31%, roughly equal to the maximum TREX.L drawdown of -23.38%. Use the drawdown chart below to compare losses from any high point for SXRM.DE and TREX.L.
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Drawdown Indicators
| SXRM.DE | TREX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.31% | -23.38% | +0.07% |
Max Drawdown (1Y)Largest decline over 1 year | -4.02% | -3.96% | -0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -7.24% | -7.42% | +0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -20.90% | -20.96% | +0.06% |
Max Drawdown (10Y)Largest decline over 10 years | -23.31% | — | — |
Current DrawdownCurrent decline from peak | -10.34% | -10.23% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -6.45% | -9.96% | +3.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.37% | 1.36% | +0.01% |
Volatility
SXRM.DE vs. TREX.L - Volatility Comparison
iShares USD Treasury Bond 7-10yr UCITS ETF (Acc) (SXRM.DE) and Invesco US Treasury Bond 7-10 Year UCITS ETF Dist (TREX.L) have volatilities of 1.86% and 1.82%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SXRM.DE | TREX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.86% | 1.82% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 3.41% | 3.34% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.60% | 4.50% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.38% | 7.49% | -0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.30% | 6.93% | -0.63% |
SXRM.DE vs. TREX.L - Expense Ratio Comparison
SXRM.DE has a 0.07% expense ratio, which is higher than TREX.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
SXRM.DE vs. TREX.L - Dividend Comparison
SXRM.DE has not paid dividends to shareholders, while TREX.L's dividend yield for the trailing twelve months is around 4.33%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
SXRM.DE iShares USD Treasury Bond 7-10yr UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TREX.L Invesco US Treasury Bond 7-10 Year UCITS ETF Dist | 4.33% | 4.23% | 4.34% | 3.48% | 2.41% | 1.63% | 1.81% | 2.02% |
Frequently Asked Questions
With a correlation of 0.93, SXRM.DE and TREX.L 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, TREX.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TREX.L is cheaper with a 0.06% expense ratio, compared with 0.07% for SXRM.DE.
SXRM.DE tracks ICE US Treasury 7-10 Year, while TREX.L tracks Bloomberg US 7-10 Year Treasury Bond Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.07% for SXRM.DE and 0.06% for TREX.L.
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