T1EU.DE vs. XCS2.DE

Last updated Jul 4, 2026

T1EU.DE (Invesco US Treasury Bond 0-1 Year UCITS ETF EUR Hdg Acc) and XCS2.DE (Xtrackers II Australia Government Bond UCITS ETF (Acc)) are both Government Bonds funds - T1EU.DE tracks the Bloomberg US Treasury Coupons Index while XCS2.DE tracks the FTSE Australian Government Bond Index. Both are passively managed. Over the past 5 years, T1EU.DE returned 1.40%/yr vs -1.91%/yr for XCS2.DE. At a 0.12 correlation, their price movements are largely independent. T1EU.DE charges 0.10%/yr vs 0.25%/yr for XCS2.DE.

Performance

T1EU.DE vs. XCS2.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco US Treasury Bond 0-1 Year UCITS ETF EUR Hdg Acc (T1EU.DE) and Xtrackers II Australia Government Bond UCITS ETF (Acc) (XCS2.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, T1EU.DE achieves a 0.83% return, which is significantly lower than XCS2.DE's 8.74% return.

T1EU.DE

• 1D: 0.02%
• 1M: 0.18%
• 6M: 0.74%
• YTD: 0.83%
• 1Y: 1.84%
• 3Y*: 2.74%
• 5Y*: 1.40%
• 10Y*: —

XCS2.DE

• 1D: 0.64%
• 1M: 0.17%
• 6M: 8.57%
• YTD: 8.74%
• 1Y: 9.20%
• 3Y*: 2.45%
• 5Y*: -1.91%
• 10Y*: -0.09%

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

T1EU.DE vs. XCS2.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
T1EU.DE Invesco US Treasury Bond 0-1 Year UCITS ETF EUR Hdg Acc	0.83%	2.00%	3.48%	2.83%	-1.53%	-0.93%	-0.47%
XCS2.DE Xtrackers II Australia Government Bond UCITS ETF (Acc)	8.74%	-2.17%	-1.70%	0.78%	-13.88%	-0.26%	13.55%

Correlation

The correlation between T1EU.DE and XCS2.DE is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (All Time) Calculated using the full available price history since Mar 30, 2020	0.13

Return for Risk

T1EU.DE vs. XCS2.DE — Risk / Return Rank

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

T1EU.DE

T1EU.DE Risk / Return Rank: 66
T1EU.DE Sharpe Ratio Rank: 42
T1EU.DE Sortino Ratio Rank: 43
T1EU.DE Omega Ratio Rank: 72
T1EU.DE Calmar Ratio Rank: 83
T1EU.DE Martin Ratio Rank: 91

XCS2.DE

XCS2.DE Risk / Return Rank: 39
XCS2.DE Sharpe Ratio Rank: 33
XCS2.DE Sortino Ratio Rank: 33
XCS2.DE Omega Ratio Rank: 32
XCS2.DE Calmar Ratio Rank: 48
XCS2.DE Martin Ratio Rank: 48

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.

T1EU.DE vs. XCS2.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 Xtrackers II Australia Government Bond UCITS ETF (Acc) (XCS2.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	XCS2.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.04	+0.23
Sortino ratio: Return per unit of downside risk	1.88	1.56	+0.32
Omega ratio: Gain probability vs. loss probability	1.35	1.19	+0.16
Calmar ratio: Return relative to maximum drawdown	3.62	2.01	+1.62
Martin ratio: Return relative to average drawdown	17.64	6.68	+10.97

T1EU.DE vs. XCS2.DE - Sharpe Ratio Comparison

The current T1EU.DE Sharpe Ratio is 1.27, which is comparable to the XCS2.DE Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of T1EU.DE and XCS2.DE, 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

T1EU.DE vs. XCS2.DE - Drawdown Comparison

The maximum T1EU.DE drawdown since its inception was -3.20%, smaller than the maximum XCS2.DE drawdown of -41.58%. Use the drawdown chart below to compare losses from any high point for T1EU.DE and XCS2.DE.

Drawdown Indicators

	T1EU.DE	XCS2.DE	Difference
Max Drawdown Largest peak-to-trough decline	-3.20%	-41.58%	+38.38%
Max Drawdown (1Y) Largest decline over 1 year	-0.51%	-4.56%	+4.05%
Max Drawdown (3Y) Largest decline over 3 years	-0.51%	-12.00%	+11.49%
Max Drawdown (5Y) Largest decline over 5 years	-2.36%	-22.36%	+20.00%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.58%	—
Current Drawdown Current decline from peak	0.00%	-32.78%	+32.78%
Average Drawdown Average peak-to-trough decline	-0.86%	-25.75%	+24.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.10%	1.37%	-1.27%

Volatility

T1EU.DE vs. XCS2.DE - Volatility Comparison

The current volatility for Invesco US Treasury Bond 0-1 Year UCITS ETF EUR Hdg Acc (T1EU.DE) is 0.10%, while Xtrackers II Australia Government Bond UCITS ETF (Acc) (XCS2.DE) has a volatility of 2.20%. This indicates that T1EU.DE experiences smaller price fluctuations and is considered to be less risky than XCS2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	T1EU.DE	XCS2.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.10%	2.20%	-2.10%
Volatility (6M) Calculated over the trailing 6-month period	1.12%	7.40%	-6.28%
Volatility (1Y) Calculated over the trailing 1-year period	1.45%	8.80%	-7.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.80%	10.13%	-9.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.73%	21.02%	-20.29%

T1EU.DE vs. XCS2.DE - Expense Ratio Comparison

T1EU.DE has a 0.10% expense ratio, which is lower than XCS2.DE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

T1EU.DE vs. XCS2.DE - Dividend Comparison

Neither T1EU.DE nor XCS2.DE has paid dividends to shareholders.

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%
XCS2.DE Xtrackers II Australia Government Bond UCITS ETF (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both T1EU.DE and XCS2.DE in my portfolio?

T1EU.DE and XCS2.DE have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, T1EU.DE or XCS2.DE?

On fees, T1EU.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, T1EU.DE or XCS2.DE?

T1EU.DE is cheaper with a 0.10% expense ratio, compared with 0.25% for XCS2.DE.

What is the main difference between T1EU.DE and XCS2.DE?

T1EU.DE tracks Bloomberg US Treasury Coupons Index, while XCS2.DE tracks FTSE Australian Government Bond Index. They also come from different issuers: Invesco and Xtrackers. Their fees differ too: 0.10% for T1EU.DE and 0.25% for XCS2.DE.