T1EU.DE vs. TRFE.DE
T1EU.DE (Invesco US Treasury Bond 0-1 Year UCITS ETF EUR Hdg Acc) and TRFE.DE (Invesco US Treasury Bond UCITS ETF EUR Hdg Dist) are both Government Bonds funds from Invesco - T1EU.DE tracks the Bloomberg US Treasury Coupons Index while TRFE.DE tracks the Bloomberg U.S. Treasury Total Return Index. Both are passively managed. Over the past 3 years, T1EU.DE returned 2.69%/yr vs 0.94%/yr for TRFE.DE. At a 0.30 correlation, their price movements are largely independent. Both charge a 0.10% expense ratio.
Performance
T1EU.DE vs. TRFE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, T1EU.DE achieves a 0.85% return, which is significantly higher than TRFE.DE's -1.53% return.
T1EU.DE
- 1D
- 0.00%
- 1M
- 0.14%
- 6M
- 0.81%
- YTD
- 0.85%
- 1Y
- 1.84%
- 3Y*
- 2.69%
- 5Y*
- 1.40%
- 10Y*
- —
TRFE.DE
- 1D
- 0.16%
- 1M
- -0.36%
- 6M
- -1.25%
- YTD
- -1.53%
- 1Y
- 1.55%
- 3Y*
- 0.94%
- 5Y*
- —
- 10Y*
- —
T1EU.DE vs. TRFE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
T1EU.DE Invesco US Treasury Bond 0-1 Year UCITS ETF EUR Hdg Acc | 0.85% | 2.00% | 3.48% | 2.83% | -1.38% |
TRFE.DE Invesco US Treasury Bond UCITS ETF EUR Hdg Dist | -1.53% | 4.63% | -1.17% | 1.55% | 4.74% |
Correlation
The correlation between T1EU.DE and TRFE.DE is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2022 | 0.30 |
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Return for Risk
T1EU.DE vs. TRFE.DE — Risk / Return Rank
T1EU.DE
TRFE.DE
T1EU.DE vs. TRFE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco US Treasury Bond 0-1 Year UCITS ETF EUR Hdg Acc (T1EU.DE) and Invesco US Treasury Bond UCITS ETF EUR Hdg Dist (TRFE.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.
| T1EU.DE | TRFE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.07 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 3.62 | 0.45 | +3.17 |
| Martin ratioReturn relative to average drawdown | 17.64 | 1.14 | +16.50 |
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Drawdowns
T1EU.DE vs. TRFE.DE - Drawdown Comparison
The maximum T1EU.DE drawdown since its inception was -3.20%, smaller than the maximum TRFE.DE drawdown of -17.11%. Use the drawdown chart below to compare losses from any high point for T1EU.DE and TRFE.DE.
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Drawdown Indicators
| T1EU.DE | TRFE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.20% | -17.11% | +13.91% |
Max Drawdown (1Y)Largest decline over 1 year | -0.51% | -3.40% | +2.89% |
Max Drawdown (3Y)Largest decline over 3 years | -0.51% | -5.46% | +4.95% |
Max Drawdown (5Y)Largest decline over 5 years | -2.36% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -9.97% | +9.97% |
Average DrawdownAverage peak-to-trough decline | -0.85% | -10.81% | +9.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.10% | 1.36% | -1.26% |
Volatility
T1EU.DE vs. TRFE.DE - Volatility Comparison
The current volatility for Invesco US Treasury Bond 0-1 Year UCITS ETF EUR Hdg Acc (T1EU.DE) is 0.06%, while Invesco US Treasury Bond UCITS ETF EUR Hdg Dist (TRFE.DE) has a volatility of 0.99%. This indicates that T1EU.DE experiences smaller price fluctuations and is considered to be less risky than TRFE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| T1EU.DE | TRFE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.06% | 0.99% | -0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 1.05% | 2.76% | -1.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.44% | 4.00% | -2.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.81% | 11.19% | -10.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.73% | 11.19% | -10.46% |
T1EU.DE vs. TRFE.DE - Expense Ratio Comparison
Both T1EU.DE and TRFE.DE have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
T1EU.DE vs. TRFE.DE - Dividend Comparison
T1EU.DE has not paid dividends to shareholders, while TRFE.DE's dividend yield for the trailing twelve months is around 4.29%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
T1EU.DE Invesco US Treasury Bond 0-1 Year UCITS ETF EUR Hdg Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.13% |
TRFE.DE Invesco US Treasury Bond UCITS ETF EUR Hdg Dist | 4.29% | 4.10% | 4.30% | 3.77% | 1.74% | 0.00% | 0.00% |
Frequently Asked Questions
T1EU.DE and TRFE.DE have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
T1EU.DE and TRFE.DE have the same expense ratio: 0.10% per year.
T1EU.DE tracks Bloomberg US Treasury Coupons Index, while TRFE.DE tracks Bloomberg U.S. Treasury Total Return Index.
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