TRD1.DE vs. IBCL.DE
TRD1.DE (Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist) and IBCL.DE (iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist)) are both Government Bonds funds - TRD1.DE tracks the Bloomberg US Treasury Coupons Index while IBCL.DE tracks the Bloomberg Euro Government Bond 15-30 Year Index. Both are passively managed. Over the past 5 years, TRD1.DE returned 3.98%/yr vs -8.11%/yr for IBCL.DE. At a correlation of -0.09, they often move in opposite directions. TRD1.DE charges 0.06%/yr vs 0.15%/yr for IBCL.DE.
Performance
TRD1.DE vs. IBCL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, TRD1.DE achieves a 4.64% return, which is significantly higher than IBCL.DE's -0.96% return.
TRD1.DE
- 1D
- 0.08%
- 1M
- 1.66%
- 6M
- 3.54%
- YTD
- 4.64%
- 1Y
- 5.35%
- 3Y*
- 4.01%
- 5Y*
- 3.98%
- 10Y*
- —
IBCL.DE
- 1D
- -0.18%
- 1M
- -1.86%
- 6M
- -1.99%
- YTD
- -0.96%
- 1Y
- -1.54%
- 3Y*
- -0.13%
- 5Y*
- -8.11%
- 10Y*
- -2.62%
TRD1.DE vs. IBCL.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 | 4.64% | -7.35% | 11.23% | 1.38% | 6.73% | 8.36% | -17.72% |
IBCL.DE iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) | -0.96% | -5.38% | -0.90% | 9.73% | -34.35% | -6.57% | 11.01% |
Correlation
The correlation between TRD1.DE and IBCL.DE 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 | -0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2020 | -0.09 |
The correlation between TRD1.DE and IBCL.DE shifts across timeframes, from -0.24 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TRD1.DE vs. IBCL.DE — Risk / Return Rank
TRD1.DE
IBCL.DE
TRD1.DE vs. IBCL.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 € Govt Bond 15-30yr UCITS ETF EUR (Dist) (IBCL.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 | IBCL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.02 | ||
| Sortino ratioReturn per unit of downside risk | +1.44 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.98 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.44 | -0.25 | +1.69 |
| Martin ratioReturn relative to average drawdown | 3.75 | -0.51 | +4.26 |
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Drawdowns
TRD1.DE vs. IBCL.DE - Drawdown Comparison
The maximum TRD1.DE drawdown since its inception was -17.81%, smaller than the maximum IBCL.DE drawdown of -43.80%. Use the drawdown chart below to compare losses from any high point for TRD1.DE and IBCL.DE.
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Drawdown Indicators
| TRD1.DE | IBCL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.81% | -43.80% | +25.99% |
Max Drawdown (1Y)Largest decline over 1 year | -3.70% | -6.13% | +2.43% |
Max Drawdown (3Y)Largest decline over 3 years | -11.60% | -11.97% | +0.37% |
Max Drawdown (5Y)Largest decline over 5 years | -11.70% | -42.19% | +30.49% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.80% | — |
Current DrawdownCurrent decline from peak | -5.36% | -38.02% | +32.66% |
Average DrawdownAverage peak-to-trough decline | -8.29% | -12.55% | +4.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.42% | 3.03% | -1.61% |
Volatility
TRD1.DE vs. IBCL.DE - Volatility Comparison
The current volatility for Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist (TRD1.DE) is 1.48%, while iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) (IBCL.DE) has a volatility of 2.55%. This indicates that TRD1.DE experiences smaller price fluctuations and is considered to be less risky than IBCL.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRD1.DE | IBCL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 2.55% | -1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 4.65% | 7.29% | -2.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.31% | 9.23% | -2.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.48% | 13.68% | -6.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.09% | 11.50% | -3.41% |
TRD1.DE vs. IBCL.DE - Expense Ratio Comparison
TRD1.DE has a 0.06% expense ratio, which is lower than IBCL.DE's 0.15% 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. IBCL.DE - Dividend Comparison
TRD1.DE's dividend yield for the trailing twelve months is around 3.86%, more than IBCL.DE's 3.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBCL.DE iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) | 3.71% | 3.53% | 3.19% | 2.64% | 1.31% | 0.53% | 0.74% | 1.26% | 1.50% | 1.35% | 1.47% | 1.83% |
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% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TRD1.DE and IBCL.DE 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.
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 0.15% for IBCL.DE.
TRD1.DE tracks Bloomberg US Treasury Coupons Index, while IBCL.DE tracks Bloomberg Euro Government Bond 15-30 Year Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.06% for TRD1.DE and 0.15% for IBCL.DE.
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