SYBT.DE vs. TRDL.DE
SYBT.DE (SPDR Bloomberg US Treasury Bond UCITS ETF) and TRDL.DE (Invesco US Treasury Bond 10+ Year UCITS ETF Dist) are both Government Bonds funds - SYBT.DE tracks the Bloomberg US Treasury while TRDL.DE tracks the Bloomberg US Long Treasury Index. Both are passively managed. Over the past 3 years, SYBT.DE returned 1.67%/yr vs -2.03%/yr for TRDL.DE. A 0.77 correlation means they provide meaningful diversification when combined. SYBT.DE charges 0.15%/yr vs 0.06%/yr for TRDL.DE.
Performance
SYBT.DE vs. TRDL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SYBT.DE achieves a 4.06% return, which is significantly lower than TRDL.DE's 5.04% return.
SYBT.DE
- 1D
- -0.14%
- 1M
- 3.09%
- YTD
- 4.06%
- 6M
- 4.35%
- 1Y
- 5.87%
- 3Y*
- 1.67%
- 5Y*
- 0.63%
- 10Y*
- 0.45%
TRDL.DE
- 1D
- 0.00%
- 1M
- 5.19%
- YTD
- 5.04%
- 6M
- 5.41%
- 1Y
- 7.57%
- 3Y*
- -2.03%
- 5Y*
- —
- 10Y*
- —
SYBT.DE vs. TRDL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SYBT.DE SPDR Bloomberg US Treasury Bond UCITS ETF | 4.06% | -5.47% | 6.40% | 0.26% | -6.71% |
TRDL.DE Invesco US Treasury Bond 10+ Year UCITS ETF Dist | 5.04% | -6.13% | -0.85% | -1.72% | -4.67% |
Correlation
The correlation between SYBT.DE and TRDL.DE is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2022 | 0.77 |
The correlation between SYBT.DE and TRDL.DE has been stable across timeframes, ranging from 0.70 to 0.77 - a consistent structural relationship.
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Return for Risk
SYBT.DE vs. TRDL.DE — Risk / Return Rank
SYBT.DE
TRDL.DE
SYBT.DE vs. TRDL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg US Treasury Bond UCITS ETF (SYBT.DE) and Invesco US Treasury Bond 10+ Year UCITS ETF Dist (TRDL.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.
| SYBT.DE | TRDL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.15 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 1.18 | +0.21 |
| Martin ratioReturn relative to average drawdown | 3.80 | 2.56 | +1.24 |
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Drawdowns
SYBT.DE vs. TRDL.DE - Drawdown Comparison
The maximum SYBT.DE drawdown since its inception was -32.76%, which is greater than TRDL.DE's maximum drawdown of -20.55%. Use the drawdown chart below to compare losses from any high point for SYBT.DE and TRDL.DE.
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Drawdown Indicators
| SYBT.DE | TRDL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.76% | -20.55% | -12.21% |
Max Drawdown (1Y)Largest decline over 1 year | -4.21% | -6.45% | +2.24% |
Max Drawdown (3Y)Largest decline over 3 years | -11.02% | -16.55% | +5.53% |
Max Drawdown (5Y)Largest decline over 5 years | -13.07% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -17.66% | — | — |
Current DrawdownCurrent decline from peak | -10.58% | -11.75% | +1.17% |
Average DrawdownAverage peak-to-trough decline | -13.24% | -11.38% | -1.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 2.97% | -1.43% |
Volatility
SYBT.DE vs. TRDL.DE - Volatility Comparison
The current volatility for SPDR Bloomberg US Treasury Bond UCITS ETF (SYBT.DE) is 1.83%, while Invesco US Treasury Bond 10+ Year UCITS ETF Dist (TRDL.DE) has a volatility of 2.33%. This indicates that SYBT.DE experiences smaller price fluctuations and is considered to be less risky than TRDL.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SYBT.DE | TRDL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.83% | 2.33% | -0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 4.41% | 6.33% | -1.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.90% | 9.08% | -3.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.08% | 13.20% | -5.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.59% | 13.20% | -5.61% |
SYBT.DE vs. TRDL.DE - Expense Ratio Comparison
SYBT.DE has a 0.15% expense ratio, which is higher than TRDL.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
SYBT.DE vs. TRDL.DE - Dividend Comparison
SYBT.DE's dividend yield for the trailing twelve months is around 3.51%, less than TRDL.DE's 4.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SYBT.DE SPDR Bloomberg US Treasury Bond UCITS ETF | 3.51% | 3.70% | 2.92% | 2.21% | 1.31% | 0.92% | 1.98% | 2.11% | 1.58% | 1.66% | 1.29% | 1.25% |
TRDL.DE Invesco US Treasury Bond 10+ Year UCITS ETF Dist | 4.70% | 4.88% | 4.70% | 3.09% | 0.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SYBT.DE and TRDL.DE have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRDL.DE is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRDL.DE is cheaper with a 0.06% expense ratio, compared with 0.15% for SYBT.DE.
SYBT.DE tracks Bloomberg US Treasury, while TRDL.DE tracks Bloomberg US Long Treasury Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.15% for SYBT.DE and 0.06% for TRDL.DE.
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