TRD3.DE vs. IBCC.DE
TRD3.DE (Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist) and IBCC.DE (iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist)) are both Government Bonds funds - TRD3.DE tracks the Bloomberg US Treasury 1-3 Year Index while IBCC.DE tracks the ICE US Treasury Short Bond Index. Both are passively managed. Over the past 5 years, TRD3.DE returned 2.62%/yr vs 4.17%/yr for IBCC.DE. Their correlation of 0.93 suggests significant overlap in exposure. TRD3.DE charges 0.06%/yr vs 0.07%/yr for IBCC.DE.
Performance
TRD3.DE vs. IBCC.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 IBCC.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*
- —
IBCC.DE
- 1D
- 0.23%
- 1M
- 1.87%
- 6M
- 4.60%
- YTD
- 4.60%
- 1Y
- 6.83%
- 3Y*
- 3.02%
- 5Y*
- 4.17%
- 10Y*
- —
TRD3.DE vs. IBCC.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% | -7.83% |
IBCC.DE iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.60% | -7.23% | 11.42% | 1.23% | 7.25% | 8.42% | -8.13% | -8.71% |
Correlation
The correlation between TRD3.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 | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2019 | 0.93 |
The correlation between TRD3.DE and IBCC.DE has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.
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Return for Risk
TRD3.DE vs. IBCC.DE — Risk / Return Rank
TRD3.DE
IBCC.DE
TRD3.DE vs. IBCC.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 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.
| TRD3.DE | IBCC.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.20 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.80 | 2.10 | -0.30 |
| Martin ratioReturn relative to average drawdown | 4.34 | 4.78 | -0.44 |
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Drawdowns
TRD3.DE vs. IBCC.DE - Drawdown Comparison
The maximum TRD3.DE drawdown since its inception was -13.49%, smaller than the maximum IBCC.DE drawdown of -16.17%. Use the drawdown chart below to compare losses from any high point for TRD3.DE and IBCC.DE.
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Drawdown Indicators
| TRD3.DE | IBCC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.49% | -16.17% | +2.68% |
Max Drawdown (1Y)Largest decline over 1 year | -3.42% | -3.24% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -10.90% | -11.59% | +0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -12.49% | -11.69% | -0.80% |
Current DrawdownCurrent decline from peak | -5.25% | -5.33% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -7.13% | -7.99% | +0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.42% | 1.43% | -0.01% |
Volatility
TRD3.DE vs. IBCC.DE - Volatility Comparison
The current volatility for Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist (TRD3.DE) is 1.68%, while iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBCC.DE) has a volatility of 1.88%. This indicates that TRD3.DE experiences smaller price fluctuations and is considered to be less risky than IBCC.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRD3.DE | IBCC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.68% | 1.88% | -0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 4.22% | 4.35% | -0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.82% | 6.23% | -0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.20% | 7.57% | -0.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.91% | 8.43% | -0.52% |
TRD3.DE vs. IBCC.DE - Expense Ratio Comparison
TRD3.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
TRD3.DE vs. IBCC.DE - Dividend Comparison
TRD3.DE's dividend yield for the trailing twelve months is around 3.83%, 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% |
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
TRD3.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, 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 IBCC.DE.
TRD3.DE tracks Bloomberg US Treasury 1-3 Year 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 TRD3.DE and 0.07% for IBCC.DE.
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