T1AP.L vs. EQGB.L

Last updated Jul 18, 2026

T1AP.L (Invesco US Treasury Bond 0-1 Year UCITS ETF USD (Acc)) and EQGB.L (Invesco EQQQ Nasdaq-100 UCITS ETF GBP Hdg Acc) are both exchange-traded funds - T1AP.L is a Ultrashort Bond fund tracking the Bloomberg US Treasury Coupons Index, while EQGB.L is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, T1AP.L returned 4.05%/yr vs 13.39%/yr for EQGB.L. At a correlation of -0.36, they often move in opposite directions. T1AP.L charges 0.06%/yr vs 0.35%/yr for EQGB.L.

Performance

T1AP.L vs. EQGB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco US Treasury Bond 0-1 Year UCITS ETF USD (Acc) (T1AP.L) and Invesco EQQQ Nasdaq-100 UCITS ETF GBP Hdg Acc (EQGB.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, T1AP.L achieves a 2.33% return, which is significantly lower than EQGB.L's 11.82% return.

T1AP.L

• 1D: 0.32%
• 1M: 0.33%
• 6M: 1.66%
• YTD: 2.33%
• 1Y: 4.09%
• 3Y*: 3.94%
• 5Y*: 4.05%
• 10Y*: —

EQGB.L

• 1D: -2.31%
• 1M: -5.07%
• 6M: 11.25%
• YTD: 11.82%
• 1Y: 23.30%
• 3Y*: 22.04%
• 5Y*: 13.39%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

T1AP.L vs. EQGB.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
T1AP.L Invesco US Treasury Bond 0-1 Year UCITS ETF USD (Acc)	2.33%	-2.78%	6.89%	-0.80%	12.56%	1.28%	7,301.82%
EQGB.L Invesco EQQQ Nasdaq-100 UCITS ETF GBP Hdg Acc	11.82%	19.59%	26.12%	53.92%	-35.07%	27.68%	38.29%

Correlation

The correlation between T1AP.L and EQGB.L is -0.33, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.33
Correlation (3Y) Calculated over the trailing 3-year period	-0.30
Correlation (5Y) Calculated over the trailing 5-year period	-0.38
Correlation (All Time) Calculated using the full available price history since Jan 21, 2020	-0.36

Return for Risk

T1AP.L vs. EQGB.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

T1AP.L

T1AP.L Risk / Return Rank: 27
T1AP.L Sharpe Ratio Rank: 27
T1AP.L Sortino Ratio Rank: 26
T1AP.L Omega Ratio Rank: 25
T1AP.L Calmar Ratio Rank: 29
T1AP.L Martin Ratio Rank: 28

EQGB.L

EQGB.L Risk / Return Rank: 48
EQGB.L Sharpe Ratio Rank: 47
EQGB.L Sortino Ratio Rank: 47
EQGB.L Omega Ratio Rank: 45
EQGB.L Calmar Ratio Rank: 50
EQGB.L Martin Ratio Rank: 51

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

T1AP.L vs. EQGB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco US Treasury Bond 0-1 Year UCITS ETF USD (Acc) (T1AP.L) and Invesco EQQQ Nasdaq-100 UCITS ETF GBP Hdg Acc (EQGB.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.

	T1AP.L	EQGB.L	Difference
Sharpe ratio: Return per unit of total volatility	0.76	1.33	-0.57
Sortino ratio: Return per unit of downside risk	1.13	1.94	-0.81
Omega ratio: Gain probability vs. loss probability	1.14	1.24	-0.10
Calmar ratio: Return relative to maximum drawdown	1.08	2.05	-0.96
Martin ratio: Return relative to average drawdown	2.77	6.78	-4.01

T1AP.L vs. EQGB.L - Sharpe Ratio Comparison

The current T1AP.L Sharpe Ratio is 0.76, which is lower than the EQGB.L Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of T1AP.L and EQGB.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

T1AP.L vs. EQGB.L - Drawdown Comparison

The maximum T1AP.L drawdown since its inception was -21.77%, smaller than the maximum EQGB.L drawdown of -36.77%. Use the drawdown chart below to compare losses from any high point for T1AP.L and EQGB.L.

Drawdown Indicators

	T1AP.L	EQGB.L	Difference
Max Drawdown Largest peak-to-trough decline	-21.77%	-36.77%	+15.00%
Max Drawdown (1Y) Largest decline over 1 year	-4.46%	-11.33%	+6.87%
Max Drawdown (3Y) Largest decline over 3 years	-21.77%	-22.76%	+0.99%
Max Drawdown (5Y) Largest decline over 5 years	-21.77%	-36.77%	+15.00%
Current Drawdown Current decline from peak	-15.88%	-6.69%	-9.19%
Average Drawdown Average peak-to-trough decline	-14.05%	-7.40%	-6.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	3.43%	-1.68%

Volatility

T1AP.L vs. EQGB.L - Volatility Comparison

The current volatility for Invesco US Treasury Bond 0-1 Year UCITS ETF USD (Acc) (T1AP.L) is 1.64%, while Invesco EQQQ Nasdaq-100 UCITS ETF GBP Hdg Acc (EQGB.L) has a volatility of 6.24%. This indicates that T1AP.L experiences smaller price fluctuations and is considered to be less risky than EQGB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	T1AP.L	EQGB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.64%	6.24%	-4.60%
Volatility (6M) Calculated over the trailing 6-month period	4.79%	13.94%	-9.15%
Volatility (1Y) Calculated over the trailing 1-year period	6.41%	17.48%	-11.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.32%	21.22%	-4.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2,962.48%	21.27%	+2,941.21%

T1AP.L vs. EQGB.L - Expense Ratio Comparison

T1AP.L has a 0.06% expense ratio, which is lower than EQGB.L's 0.35% expense ratio.

Dividends

T1AP.L vs. EQGB.L - Dividend Comparison

Neither T1AP.L nor EQGB.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
EQGB.L Invesco EQQQ Nasdaq-100 UCITS ETF GBP Hdg Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.16%
T1AP.L Invesco US Treasury Bond 0-1 Year UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both T1AP.L and EQGB.L in my portfolio?

T1AP.L and EQGB.L have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, T1AP.L or EQGB.L?

On fees, T1AP.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, T1AP.L or EQGB.L?

T1AP.L is cheaper with a 0.06% expense ratio, compared with 0.35% for EQGB.L.

What is the main difference between T1AP.L and EQGB.L?

T1AP.L is categorized as Ultrashort Bond, while EQGB.L is Nasdaq-100. T1AP.L tracks Bloomberg US Treasury Coupons Index, while EQGB.L tracks NASDAQ-100 Index. Their fees differ too: 0.06% for T1AP.L and 0.35% for EQGB.L.