TRD1.DE vs. XUTE.DE
TRD1.DE (Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist) and XUTE.DE (Xtrackers II US Treasuries UCITS ETF EUR Hedged (Dist)) are both Government Bonds funds - TRD1.DE tracks the Bloomberg US Treasury Coupons Index while XUTE.DE tracks the iBoxx USD Treasuries Index (EUR Hedged). Both are passively managed. Over the past 5 years, TRD1.DE returned 3.97%/yr vs -2.68%/yr for XUTE.DE. At a correlation of -0.22, they often move in opposite directions. TRD1.DE charges 0.06%/yr vs 0.10%/yr for XUTE.DE.
Performance
TRD1.DE vs. XUTE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, TRD1.DE achieves a 4.62% return, which is significantly higher than XUTE.DE's -1.03% return.
TRD1.DE
- 1D
- 0.00%
- 1M
- 1.46%
- 6M
- 2.92%
- YTD
- 4.62%
- 1Y
- 5.14%
- 3Y*
- 3.93%
- 5Y*
- 3.97%
- 10Y*
- —
XUTE.DE
- 1D
- 0.22%
- 1M
- -0.39%
- 6M
- -0.88%
- YTD
- -1.03%
- 1Y
- 1.43%
- 3Y*
- 0.90%
- 5Y*
- -2.68%
- 10Y*
- —
TRD1.DE vs. XUTE.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 | 4.62% | -7.35% | 11.23% | 1.38% | 6.73% | 8.36% | -17.72% |
XUTE.DE Xtrackers II US Treasuries UCITS ETF EUR Hedged (Dist) | -1.03% | 4.18% | -1.19% | 1.61% | -14.67% | -3.37% | 6.12% |
Correlation
The correlation between TRD1.DE and XUTE.DE is -0.39, 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 | -0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.26 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2020 | -0.22 |
The correlation between TRD1.DE and XUTE.DE shifts across timeframes, from -0.39 (1 year) to -0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TRD1.DE vs. XUTE.DE — Risk / Return Rank
TRD1.DE
XUTE.DE
TRD1.DE vs. XUTE.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 Xtrackers II US Treasuries UCITS ETF EUR Hedged (Dist) (XUTE.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 | XUTE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.07 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.38 | 0.41 | +0.98 |
| Martin ratioReturn relative to average drawdown | 3.62 | 0.99 | +2.62 |
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Drawdowns
TRD1.DE vs. XUTE.DE - Drawdown Comparison
The maximum TRD1.DE drawdown since its inception was -17.81%, smaller than the maximum XUTE.DE drawdown of -23.77%. Use the drawdown chart below to compare losses from any high point for TRD1.DE and XUTE.DE.
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Drawdown Indicators
| TRD1.DE | XUTE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.81% | -23.77% | +5.96% |
Max Drawdown (1Y)Largest decline over 1 year | -3.70% | -3.49% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -11.60% | -5.77% | -5.83% |
Max Drawdown (5Y)Largest decline over 5 years | -11.70% | -20.57% | +8.87% |
Current DrawdownCurrent decline from peak | -5.39% | -16.92% | +11.53% |
Average DrawdownAverage peak-to-trough decline | -8.29% | -9.88% | +1.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.42% | 1.43% | -0.01% |
Volatility
TRD1.DE vs. XUTE.DE - Volatility Comparison
Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist (TRD1.DE) has a higher volatility of 1.12% compared to Xtrackers II US Treasuries UCITS ETF EUR Hedged (Dist) (XUTE.DE) at 1.00%. This indicates that TRD1.DE's price experiences larger fluctuations and is considered to be riskier than XUTE.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 | XUTE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 1.00% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 4.63% | 2.74% | +1.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.21% | 3.71% | +2.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.48% | 5.70% | +1.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.09% | 5.08% | +3.01% |
TRD1.DE vs. XUTE.DE - Expense Ratio Comparison
TRD1.DE has a 0.06% expense ratio, which is lower than XUTE.DE's 0.10% 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. XUTE.DE - Dividend Comparison
TRD1.DE's dividend yield for the trailing twelve months is around 3.86%, more than XUTE.DE's 3.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
XUTE.DE Xtrackers II US Treasuries UCITS ETF EUR Hedged (Dist) | 3.40% | 3.36% | 3.56% | 2.27% | 2.15% | 3.30% | 1.87% | 1.28% | 0.85% |
Frequently Asked Questions
TRD1.DE and XUTE.DE have a correlation of -0.39, 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 0.10% for XUTE.DE.
TRD1.DE tracks Bloomberg US Treasury Coupons Index, while XUTE.DE tracks iBoxx USD Treasuries Index (EUR Hedged). They also come from different issuers: Invesco and Xtrackers. Their fees differ too: 0.06% for TRD1.DE and 0.10% for XUTE.DE.
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