TRD3.DE vs. BBLL.DE
TRD3.DE (Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist) and BBLL.DE (JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc)) are both Government Bonds funds - TRD3.DE tracks the Bloomberg US Treasury 1-3 Year Index while BBLL.DE tracks the ICE US Treasury 0-1 Year Index. Both are passively managed. Over the past 5 years, TRD3.DE returned 2.62%/yr vs 4.14%/yr for BBLL.DE. With a 0.96 correlation, they move nearly in lockstep. TRD3.DE charges 0.06%/yr vs 0.07%/yr for BBLL.DE.
Performance
TRD3.DE vs. BBLL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, TRD3.DE achieves a 3.63% return, which is significantly lower than BBLL.DE's 4.60% return.
TRD3.DE
- 1D
- 0.06%
- 1M
- 1.73%
- 6M
- 3.44%
- YTD
- 3.63%
- 1Y
- 6.18%
- 3Y*
- 2.75%
- 5Y*
- 2.62%
- 10Y*
- —
BBLL.DE
- 1D
- 0.10%
- 1M
- 1.78%
- 6M
- 4.43%
- YTD
- 4.60%
- 1Y
- 6.79%
- 3Y*
- 2.95%
- 5Y*
- 4.14%
- 10Y*
- —
TRD3.DE vs. BBLL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TRD3.DE Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist | 3.63% | -6.54% | 10.06% | 0.57% | 2.12% | 7.70% | -6.02% | 1.43% |
BBLL.DE JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc) | 4.60% | -7.36% | 11.29% | 1.33% | 7.29% | 8.35% | -8.23% | -9.76% |
Correlation
The correlation between TRD3.DE and BBLL.DE is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jul 9, 2019 | 0.96 |
The correlation between TRD3.DE and BBLL.DE has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
TRD3.DE vs. BBLL.DE — Risk / Return Rank
TRD3.DE
BBLL.DE
TRD3.DE vs. BBLL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist (TRD3.DE) and JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc) (BBLL.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.
| TRD3.DE | BBLL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.20 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.80 | 2.00 | -0.20 |
| Martin ratioReturn relative to average drawdown | 4.34 | 4.74 | -0.40 |
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Drawdowns
TRD3.DE vs. BBLL.DE - Drawdown Comparison
The maximum TRD3.DE drawdown since its inception was -13.49%, smaller than the maximum BBLL.DE drawdown of -17.24%. Use the drawdown chart below to compare losses from any high point for TRD3.DE and BBLL.DE.
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Drawdown Indicators
| TRD3.DE | BBLL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.49% | -17.24% | +3.75% |
Max Drawdown (1Y)Largest decline over 1 year | -3.42% | -3.38% | -0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -10.90% | -11.65% | +0.75% |
Max Drawdown (5Y)Largest decline over 5 years | -12.49% | -11.65% | -0.84% |
Current DrawdownCurrent decline from peak | -5.25% | -5.47% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -7.13% | -8.30% | +1.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.42% | 1.43% | -0.01% |
Volatility
TRD3.DE vs. BBLL.DE - Volatility Comparison
Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist (TRD3.DE) and JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc) (BBLL.DE) have volatilities of 1.68% and 1.69%, 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
| TRD3.DE | BBLL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.68% | 1.69% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 4.22% | 4.30% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.82% | 6.06% | -0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.20% | 7.45% | -0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.91% | 8.27% | -0.36% |
TRD3.DE vs. BBLL.DE - Expense Ratio Comparison
TRD3.DE has a 0.06% expense ratio, which is lower than BBLL.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
TRD3.DE vs. BBLL.DE - Dividend Comparison
TRD3.DE's dividend yield for the trailing twelve months is around 3.83%, while BBLL.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BBLL.DE JPMorgan BetaBuilders US Treasury Bond 0-1 yr UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TRD3.DE Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist | 3.83% | 4.18% | 4.28% | 4.20% | 2.04% | 0.31% | 1.28% | 1.96% |
Frequently Asked Questions
With a correlation of 0.93, TRD3.DE and BBLL.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, TRD3.DE is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRD3.DE is cheaper with a 0.06% expense ratio, compared with 0.07% for BBLL.DE.
TRD3.DE tracks Bloomberg US Treasury 1-3 Year Index, while BBLL.DE tracks ICE US Treasury 0-1 Year Index. They also come from different issuers: Invesco and JPMorgan. Their fees differ too: 0.06% for TRD3.DE and 0.07% for BBLL.DE.
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