TRD1.DE vs. IBCC.DE
TRD1.DE (Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist) and IBCC.DE (iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist)) are both Government Bonds funds - TRD1.DE tracks the Bloomberg US Treasury Coupons Index while IBCC.DE tracks the ICE US Treasury Short Bond Index. Both are passively managed. Over the past 5 years, TRD1.DE returned 4.03%/yr vs 4.17%/yr for IBCC.DE. Their correlation of 0.87 suggests significant overlap in exposure. TRD1.DE charges 0.06%/yr vs 0.07%/yr for IBCC.DE.
Performance
TRD1.DE vs. IBCC.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with TRD1.DE having a 4.56% return and IBCC.DE slightly higher at 4.60%.
TRD1.DE
- 1D
- 0.20%
- 1M
- 2.07%
- 6M
- 4.34%
- YTD
- 4.56%
- 1Y
- 6.79%
- 3Y*
- 2.97%
- 5Y*
- 4.03%
- 10Y*
- —
IBCC.DE
- 1D
- 0.23%
- 1M
- 1.87%
- 6M
- 4.60%
- YTD
- 4.60%
- 1Y
- 6.83%
- 3Y*
- 3.02%
- 5Y*
- 4.17%
- 10Y*
- —
TRD1.DE vs. IBCC.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TRD1.DE Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist | 4.56% | -7.35% | 11.23% | 1.38% | 6.73% | 8.36% | -17.72% |
IBCC.DE iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.60% | -7.23% | 11.42% | 1.23% | 7.25% | 8.42% | -8.94% |
Correlation
The correlation between TRD1.DE and IBCC.DE is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2020 | 0.87 |
The correlation between TRD1.DE and IBCC.DE has been stable across timeframes, ranging from 0.87 to 0.95 - a consistent structural relationship.
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Return for Risk
TRD1.DE vs. IBCC.DE — Risk / Return Rank
TRD1.DE
IBCC.DE
TRD1.DE vs. IBCC.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 USD Dist (TRD1.DE) and iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBCC.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.
| TRD1.DE | IBCC.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.20 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 2.10 | -0.27 |
| Martin ratioReturn relative to average drawdown | 4.77 | 4.78 | -0.01 |
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Drawdowns
TRD1.DE vs. IBCC.DE - Drawdown Comparison
The maximum TRD1.DE drawdown since its inception was -17.81%, which is greater than IBCC.DE's maximum drawdown of -16.17%. Use the drawdown chart below to compare losses from any high point for TRD1.DE and IBCC.DE.
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Drawdown Indicators
| TRD1.DE | IBCC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.81% | -16.17% | -1.64% |
Max Drawdown (1Y)Largest decline over 1 year | -3.70% | -3.24% | -0.46% |
Max Drawdown (3Y)Largest decline over 3 years | -11.60% | -11.59% | -0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -11.70% | -11.69% | -0.01% |
Current DrawdownCurrent decline from peak | -5.44% | -5.33% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -8.30% | -7.99% | -0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.42% | 1.43% | -0.01% |
Volatility
TRD1.DE vs. IBCC.DE - Volatility Comparison
Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist (TRD1.DE) and iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBCC.DE) have volatilities of 1.79% and 1.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRD1.DE | IBCC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.79% | 1.88% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 4.67% | 4.35% | +0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.32% | 6.23% | +0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.48% | 7.57% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.11% | 8.43% | -0.32% |
TRD1.DE vs. IBCC.DE - Expense Ratio Comparison
TRD1.DE has a 0.06% expense ratio, which is lower than IBCC.DE's 0.07% 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
TRD1.DE vs. IBCC.DE - Dividend Comparison
TRD1.DE's dividend yield for the trailing twelve months is around 3.86%, less than IBCC.DE's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IBCC.DE iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist) | 3.99% | 4.63% | 6.49% | 4.14% | 0.47% | 0.09% | 1.39% | 1.22% |
TRD1.DE Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist | 3.86% | 4.35% | 4.82% | 4.70% | 1.55% | 0.10% | 0.74% | 0.00% |
Frequently Asked Questions
TRD1.DE and IBCC.DE have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRD1.DE is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRD1.DE is cheaper with a 0.06% expense ratio, compared with 0.07% for IBCC.DE.
TRD1.DE tracks Bloomberg US Treasury Coupons Index, while IBCC.DE tracks ICE US Treasury Short Bond Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.06% for TRD1.DE and 0.07% for IBCC.DE.
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