TR3G.L vs. AEME.L

Last updated Jun 5, 2026

TR3G.L (Invesco US Treasury Bond 1-3 Year UCITS ETF Dist) and AEME.L (Amundi Index MSCI Emerging Markets UCITS ETF DR (C)) are both exchange-traded funds - TR3G.L is a Government Bonds fund tracking the Bloomberg US 1-3 Year Treasury Bond Index, while AEME.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Both are passively managed. Over the past 5 years, TR3G.L returned 2.93%/yr vs 8.48%/yr for AEME.L. At a correlation of -0.17, they often move in opposite directions. TR3G.L charges 0.06%/yr vs 0.20%/yr for AEME.L.

Performance

TR3G.L vs. AEME.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco US Treasury Bond 1-3 Year UCITS ETF Dist (TR3G.L) and Amundi Index MSCI Emerging Markets UCITS ETF DR (C) (AEME.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

TR3G.L is traded in GBp, while AEME.L is traded in USD. To make them comparable, the AEME.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, TR3G.L achieves a 0.69% return, which is significantly lower than AEME.L's 26.87% return.

TR3G.L

• 1D: 0.13%
• 1M: 1.13%
• YTD: 0.69%
• 6M: 0.31%
• 1Y: 4.42%
• 3Y*: 1.51%
• 5Y*: 2.93%
• 10Y*: —

AEME.L

• 1D: -1.56%
• 1M: 6.71%
• YTD: 26.87%
• 6M: 28.20%
• 1Y: 54.60%
• 3Y*: 20.90%
• 5Y*: 8.48%
• 10Y*: —

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

TR3G.L vs. AEME.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TR3G.L Invesco US Treasury Bond 1-3 Year UCITS ETF Dist	0.69%	-1.98%	5.82%	-1.57%	7.69%	0.54%
AEME.L Amundi Index MSCI Emerging Markets UCITS ETF DR (C)	26.87%	25.33%	8.58%	2.99%	-10.31%	-8.65%

Correlation

The correlation between TR3G.L and AEME.L is -0.24, 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	-0.24
Correlation (3Y) Calculated over the trailing 3-year period	-0.20
Correlation (5Y) Calculated over the trailing 5-year period	-0.17
Correlation (All Time) Calculated using the full available price history since Feb 3, 2021	-0.17

Return for Risk

TR3G.L vs. AEME.L — Risk / Return Rank

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

TR3G.L

TR3G.L Risk / Return Rank: 21
TR3G.L Sharpe Ratio Rank: 22
TR3G.L Sortino Ratio Rank: 21
TR3G.L Omega Ratio Rank: 20
TR3G.L Calmar Ratio Rank: 22
TR3G.L Martin Ratio Rank: 21

AEME.L

AEME.L Risk / Return Rank: 80
AEME.L Sharpe Ratio Rank: 84
AEME.L Sortino Ratio Rank: 81
AEME.L Omega Ratio Rank: 82
AEME.L Calmar Ratio Rank: 77
AEME.L Martin Ratio Rank: 77

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.

TR3G.L vs. AEME.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco US Treasury Bond 1-3 Year UCITS ETF Dist (TR3G.L) and Amundi Index MSCI Emerging Markets UCITS ETF DR (C) (AEME.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.

	TR3G.L	AEME.L	Difference
Sharpe ratio: Return per unit of total volatility	0.73	2.97	-2.25
Sortino ratio: Return per unit of downside risk	1.10	3.80	-2.70
Omega ratio: Gain probability vs. loss probability	1.13	1.55	-0.42
Calmar ratio: Return relative to maximum drawdown	0.98	4.92	-3.94
Martin ratio: Return relative to average drawdown	2.48	16.69	-14.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TR3G.L vs. AEME.L - Sharpe Ratio Comparison

The current TR3G.L Sharpe Ratio is 0.73, which is lower than the AEME.L Sharpe Ratio of 2.97. The chart below compares the historical Sharpe Ratios of TR3G.L and AEME.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.

Sharpe Ratios by Period

	TR3G.L	AEME.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.73	2.97	-2.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.49	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.43	-0.24

Drawdowns

TR3G.L vs. AEME.L - Drawdown Comparison

The maximum TR3G.L drawdown since its inception was -18.79%, smaller than the maximum AEME.L drawdown of -27.77%. Use the drawdown chart below to compare losses from any high point for TR3G.L and AEME.L.

Drawdown Indicators

	TR3G.L	AEME.L	Difference
Max Drawdown Largest peak-to-trough decline	-18.79%	-27.77%	+8.98%
Max Drawdown (1Y) Largest decline over 1 year	-4.52%	-11.06%	+6.54%
Max Drawdown (3Y) Largest decline over 3 years	-8.90%	-15.44%	+6.54%
Max Drawdown (5Y) Largest decline over 5 years	-16.36%	-24.16%	+7.80%
Current Drawdown Current decline from peak	-7.63%	-2.39%	-5.24%
Average Drawdown Average peak-to-trough decline	-9.79%	-12.58%	+2.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	3.26%	-1.48%

Volatility

TR3G.L vs. AEME.L - Volatility Comparison

The current volatility for Invesco US Treasury Bond 1-3 Year UCITS ETF Dist (TR3G.L) is 1.70%, while Amundi Index MSCI Emerging Markets UCITS ETF DR (C) (AEME.L) has a volatility of 8.00%. This indicates that TR3G.L experiences smaller price fluctuations and is considered to be less risky than AEME.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TR3G.L	AEME.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.70%	8.00%	-6.30%
Volatility (6M) Calculated over the trailing 6-month period	4.44%	15.69%	-11.25%
Volatility (1Y) Calculated over the trailing 1-year period	6.07%	18.30%	-12.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.07%	17.11%	-9.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.64%	17.15%	-8.51%

TR3G.L vs. AEME.L - Expense Ratio Comparison

TR3G.L has a 0.06% expense ratio, which is lower than AEME.L's 0.20% 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

TR3G.L vs. AEME.L - Dividend Comparison

TR3G.L's dividend yield for the trailing twelve months is around 3.95%, while AEME.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AEME.L Amundi Index MSCI Emerging Markets UCITS ETF DR (C)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TR3G.L Invesco US Treasury Bond 1-3 Year UCITS ETF Dist	3.95%	4.10%	4.31%	4.18%	1.99%	0.31%	1.28%	2.01%

Frequently Asked Questions

Can I hold both TR3G.L and AEME.L in my portfolio?

TR3G.L and AEME.L have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TR3G.L or AEME.L?

On fees, TR3G.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, TR3G.L or AEME.L?

TR3G.L is cheaper with a 0.06% expense ratio, compared with 0.20% for AEME.L.

What is the main difference between TR3G.L and AEME.L?

TR3G.L is categorized as Government Bonds, while AEME.L is Emerging Markets Equities. TR3G.L tracks Bloomberg US 1-3 Year Treasury Bond Index, while AEME.L tracks MSCI EM NR USD. They also come from different issuers: Invesco and Amundi. Their fees differ too: 0.06% for TR3G.L and 0.20% for AEME.L.