TIGB.L vs. TRE3.L

Last updated Jul 18, 2026

TIGB.L (Invesco US Treasury Bond 0-1 Year UCITS ETF GBP Hedged Dist) and TRE3.L (Invesco US Treasury Bond 1-3 Year UCITS ETF USD (Dist)) are both exchange-traded funds - TIGB.L is a Short-Term Bond fund tracking the Bloomberg US Treasury Coupons Index, while TRE3.L is a Government Bonds fund tracking the Bloomberg US Treasury 1-3 Year Index. Both are passively managed. Over the past 5 years, TIGB.L returned 2.95%/yr vs 2.39%/yr for TRE3.L. At a correlation of -0.01, they often move in opposite directions. TIGB.L charges 0.10%/yr vs 0.06%/yr for TRE3.L.

Performance

TIGB.L vs. TRE3.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 GBP Hedged Dist (TIGB.L) and Invesco US Treasury Bond 1-3 Year UCITS ETF USD (Dist) (TRE3.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

TIGB.L is traded in GBp, while TRE3.L is traded in USD. To make them comparable, the TRE3.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, TIGB.L achieves a 1.79% return, which is significantly higher than TRE3.L's 0.94% return.

TIGB.L

• 1D: 0.03%
• 1M: 0.28%
• 6M: 1.68%
• YTD: 1.79%
• 1Y: 3.80%
• 3Y*: 4.43%
• 5Y*: 2.95%
• 10Y*: —

TRE3.L

• 1D: 0.22%
• 1M: -1.07%
• 6M: 0.32%
• YTD: 0.94%
• 1Y: 3.08%
• 3Y*: 3.18%
• 5Y*: 2.39%
• 10Y*: —

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

TIGB.L vs. TRE3.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TIGB.L Invesco US Treasury Bond 0-1 Year UCITS ETF GBP Hedged Dist	1.79%	4.10%	4.94%	4.26%	-0.08%	-0.25%	0.52%
TRE3.L Invesco US Treasury Bond 1-3 Year UCITS ETF USD (Dist)	0.94%	-2.36%	5.96%	-0.99%	7.60%	0.34%	-1.88%

Correlation

The correlation between TIGB.L and TRE3.L is -0.01, 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	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (5Y) Calculated over the trailing 5-year period	-0.02
Correlation (All Time) Calculated using the full available price history since Jan 21, 2020	-0.01

Return for Risk

TIGB.L vs. TRE3.L — Risk / Return Rank

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

TIGB.L

TIGB.L Risk / Return Rank: 98
TIGB.L Sharpe Ratio Rank: 98
TIGB.L Sortino Ratio Rank: 98
TIGB.L Omega Ratio Rank: 99
TIGB.L Calmar Ratio Rank: 98
TIGB.L Martin Ratio Rank: 99

TRE3.L

TRE3.L Risk / Return Rank: 88
TRE3.L Sharpe Ratio Rank: 83
TRE3.L Sortino Ratio Rank: 87
TRE3.L Omega Ratio Rank: 91
TRE3.L Calmar Ratio Rank: 92
TRE3.L Martin Ratio Rank: 88

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.

TIGB.L vs. TRE3.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 GBP Hedged Dist (TIGB.L) and Invesco US Treasury Bond 1-3 Year UCITS ETF USD (Dist) (TRE3.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.

	TIGB.L	TRE3.L	Difference
Sharpe ratio: Return per unit of total volatility	4.03	0.48	+3.55
Sortino ratio: Return per unit of downside risk	6.27	0.72	+5.56
Omega ratio: Gain probability vs. loss probability	2.52	1.09	+1.43
Calmar ratio: Return relative to maximum drawdown	12.58	0.59	+12.00
Martin ratio: Return relative to average drawdown	76.19	1.59	+74.60

TIGB.L vs. TRE3.L - Sharpe Ratio Comparison

The current TIGB.L Sharpe Ratio is 4.03, which is higher than the TRE3.L Sharpe Ratio of 0.48. The chart below compares the historical Sharpe Ratios of TIGB.L and TRE3.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

TIGB.L vs. TRE3.L - Drawdown Comparison

The maximum TIGB.L drawdown since its inception was -1.16%, smaller than the maximum TRE3.L drawdown of -18.51%. Use the drawdown chart below to compare losses from any high point for TIGB.L and TRE3.L.

Drawdown Indicators

	TIGB.L	TRE3.L	Difference
Max Drawdown Largest peak-to-trough decline	-1.16%	-18.51%	+17.35%
Max Drawdown (1Y) Largest decline over 1 year	-0.30%	-5.23%	+4.93%
Max Drawdown (3Y) Largest decline over 3 years	-0.30%	-9.23%	+8.93%
Max Drawdown (5Y) Largest decline over 5 years	-0.86%	-16.73%	+15.87%
Current Drawdown Current decline from peak	0.00%	-7.92%	+7.92%
Average Drawdown Average peak-to-trough decline	-0.22%	-9.78%	+9.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.05%	1.93%	-1.88%

Volatility

TIGB.L vs. TRE3.L - Volatility Comparison

The current volatility for Invesco US Treasury Bond 0-1 Year UCITS ETF GBP Hedged Dist (TIGB.L) is 0.12%, while Invesco US Treasury Bond 1-3 Year UCITS ETF USD (Dist) (TRE3.L) has a volatility of 1.60%. This indicates that TIGB.L experiences smaller price fluctuations and is considered to be less risky than TRE3.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TIGB.L	TRE3.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.12%	1.60%	-1.48%
Volatility (6M) Calculated over the trailing 6-month period	0.70%	5.01%	-4.31%
Volatility (1Y) Calculated over the trailing 1-year period	0.94%	6.42%	-5.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.65%	8.20%	-7.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.63%	8.54%	-7.91%

TIGB.L vs. TRE3.L - Expense Ratio Comparison

TIGB.L has a 0.10% expense ratio, which is higher than TRE3.L'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

TIGB.L vs. TRE3.L - Dividend Comparison

TIGB.L's dividend yield for the trailing twelve months is around 3.88%, which matches TRE3.L's 3.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
TIGB.L Invesco US Treasury Bond 0-1 Year UCITS ETF GBP Hedged Dist	3.88%	4.11%	4.93%	4.53%	1.46%	0.06%	0.66%	0.00%
TRE3.L Invesco US Treasury Bond 1-3 Year UCITS ETF USD (Dist)	3.89%	4.07%	4.41%	4.10%	1.99%	0.32%	1.19%	1.95%

Frequently Asked Questions

Can I hold both TIGB.L and TRE3.L in my portfolio?

TIGB.L and TRE3.L have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TIGB.L or TRE3.L?

On fees, TRE3.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, TIGB.L or TRE3.L?

TRE3.L is cheaper with a 0.06% expense ratio, compared with 0.10% for TIGB.L.

What is the main difference between TIGB.L and TRE3.L?

TIGB.L is categorized as Short-Term Bond, while TRE3.L is Government Bonds. TIGB.L tracks Bloomberg US Treasury Coupons Index, while TRE3.L tracks Bloomberg US Treasury 1-3 Year Index. Their fees differ too: 0.10% for TIGB.L and 0.06% for TRE3.L.