SYBT.DE vs. TRDS.DE
SYBT.DE (SPDR Bloomberg US Treasury Bond UCITS ETF) and TRDS.DE (Invesco US Treasury Bond UCITS ETF Dist) are both Government Bonds funds - SYBT.DE tracks the Bloomberg US Treasury while TRDS.DE tracks the Bloomberg US Treasury Index. Both are passively managed. Over the past 5 years, SYBT.DE returned 0.43%/yr vs 0.24%/yr for TRDS.DE. With a 0.99 correlation, they move nearly in lockstep. SYBT.DE charges 0.15%/yr vs 0.06%/yr for TRDS.DE.
Performance
SYBT.DE vs. TRDS.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SYBT.DE achieves a 0.91% return, which is significantly higher than TRDS.DE's 0.86% return.
SYBT.DE
- 1D
- -0.19%
- 1M
- 0.79%
- YTD
- 0.91%
- 6M
- 0.11%
- 1Y
- 1.42%
- 3Y*
- 0.03%
- 5Y*
- 0.43%
- 10Y*
- 0.75%
TRDS.DE
- 1D
- -0.02%
- 1M
- 0.72%
- YTD
- 0.86%
- 6M
- 0.02%
- 1Y
- 1.02%
- 3Y*
- -0.30%
- 5Y*
- 0.24%
- 10Y*
- —
SYBT.DE vs. TRDS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SYBT.DE SPDR Bloomberg US Treasury Bond UCITS ETF | 0.91% | -5.48% | 6.46% | 0.26% | -7.00% | 5.72% | -1.94% | 6.52% |
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 SYBT.DE and TRDS.DE is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2019 | 0.99 |
The correlation between SYBT.DE and TRDS.DE has been stable across timeframes, ranging from 0.92 to 0.99 - a consistent structural relationship.
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Return for Risk
SYBT.DE vs. TRDS.DE — Risk / Return Rank
SYBT.DE
TRDS.DE
SYBT.DE vs. TRDS.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 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.
| SYBT.DE | TRDS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.03 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 0.24 | +0.09 |
| Martin ratioReturn relative to average drawdown | 0.88 | 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
| SYBT.DE | TRDS.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.25 | 0.18 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.03 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.10 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.05 | +0.29 |
Drawdowns
SYBT.DE vs. TRDS.DE - Drawdown Comparison
The maximum SYBT.DE drawdown since its inception was -17.66%, roughly equal to the maximum TRDS.DE drawdown of -17.77%. Use the drawdown chart below to compare losses from any high point for SYBT.DE and TRDS.DE.
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Drawdown Indicators
| SYBT.DE | TRDS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.66% | -17.77% | +0.11% |
Max Drawdown (1Y)Largest decline over 1 year | -4.22% | -4.13% | -0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -11.03% | -11.21% | +0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -13.06% | -13.10% | +0.04% |
Max Drawdown (10Y)Largest decline over 10 years | -17.66% | — | — |
Current DrawdownCurrent decline from peak | -13.25% | -14.15% | +0.90% |
Average DrawdownAverage peak-to-trough decline | -8.61% | -10.46% | +1.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.62% | 1.68% | -0.06% |
Volatility
SYBT.DE vs. TRDS.DE - Volatility Comparison
SPDR Bloomberg US Treasury Bond UCITS ETF (SYBT.DE) has a higher volatility of 1.34% compared to Invesco US Treasury Bond UCITS ETF Dist (TRDS.DE) at 0.93%. This indicates that SYBT.DE's price experiences larger fluctuations and is considered to be riskier 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
| SYBT.DE | TRDS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.34% | 0.93% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 4.16% | 3.90% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.77% | 5.61% | +0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.18% | 8.04% | +0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.74% | 7.80% | -0.06% |
SYBT.DE vs. TRDS.DE - Expense Ratio Comparison
SYBT.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
SYBT.DE vs. TRDS.DE - Dividend Comparison
SYBT.DE's dividend yield for the trailing twelve months is around 3.62%, which matches TRDS.DE's 3.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SYBT.DE SPDR Bloomberg US Treasury Bond UCITS ETF | 3.62% | 3.70% | 2.94% | 2.22% | 1.31% | 0.92% | 1.98% | 3.24% | 1.58% | 1.66% | 1.29% | 1.25% |
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% | 0.00% |
Frequently Asked Questions
With a correlation of 0.92, SYBT.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 SYBT.DE.
SYBT.DE tracks Bloomberg US Treasury, 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 SYBT.DE and 0.06% for TRDS.DE.
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