TRD3.DE vs. SYBW.DE
TRD3.DE (Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist) and SYBW.DE (State Street SPDR Bloomberg 1-3 Year U.S. Treasury Bond UCITS ETF (Dist)) are both Government Bonds funds - TRD3.DE tracks the Bloomberg US Treasury 1-3 Year Index while SYBW.DE tracks the Bloomberg U.S. 1-3 Year Treasury Bond Index. Both are passively managed. Over the past 5 years, TRD3.DE returned 2.62%/yr vs 2.56%/yr for SYBW.DE. With a 0.97 correlation, they move nearly in lockstep. TRD3.DE charges 0.06%/yr vs 0.05%/yr for SYBW.DE.
Performance
TRD3.DE vs. SYBW.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with TRD3.DE having a 3.63% return and SYBW.DE slightly lower at 3.59%.
TRD3.DE
- 1D
- 0.06%
- 1M
- 1.73%
- 6M
- 3.44%
- YTD
- 3.63%
- 1Y
- 6.18%
- 3Y*
- 2.75%
- 5Y*
- 2.62%
- 10Y*
- —
SYBW.DE
- 1D
- 0.05%
- 1M
- 1.76%
- 6M
- 3.44%
- YTD
- 3.59%
- 1Y
- 6.16%
- 3Y*
- 2.70%
- 5Y*
- 2.56%
- 10Y*
- 1.33%
TRD3.DE vs. SYBW.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% | -7.51% |
SYBW.DE State Street SPDR Bloomberg 1-3 Year U.S. Treasury Bond UCITS ETF (Dist) | 3.59% | -6.50% | 9.98% | 0.49% | 2.02% | 7.59% | -6.16% | 6.46% |
Correlation
The correlation between TRD3.DE and SYBW.DE is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2019 | 0.97 |
The correlation between TRD3.DE and SYBW.DE has been stable across timeframes, ranging from 0.94 to 0.99 - a consistent structural relationship.
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Return for Risk
TRD3.DE vs. SYBW.DE — Risk / Return Rank
TRD3.DE
SYBW.DE
TRD3.DE vs. SYBW.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 State Street SPDR Bloomberg 1-3 Year U.S. Treasury Bond UCITS ETF (Dist) (SYBW.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 | SYBW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.19 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.80 | 1.75 | +0.05 |
| Martin ratioReturn relative to average drawdown | 4.34 | 4.36 | -0.02 |
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Drawdowns
TRD3.DE vs. SYBW.DE - Drawdown Comparison
The maximum TRD3.DE drawdown since its inception was -13.49%, smaller than the maximum SYBW.DE drawdown of -28.24%. Use the drawdown chart below to compare losses from any high point for TRD3.DE and SYBW.DE.
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Drawdown Indicators
| TRD3.DE | SYBW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.49% | -28.24% | +14.75% |
Max Drawdown (1Y)Largest decline over 1 year | -3.42% | -3.52% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -10.90% | -10.87% | -0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -12.49% | -12.61% | +0.12% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.37% | — |
Current DrawdownCurrent decline from peak | -5.25% | -5.29% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -7.13% | -9.75% | +2.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.42% | 1.41% | +0.01% |
Volatility
TRD3.DE vs. SYBW.DE - Volatility Comparison
Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist (TRD3.DE) has a higher volatility of 1.68% compared to State Street SPDR Bloomberg 1-3 Year U.S. Treasury Bond UCITS ETF (Dist) (SYBW.DE) at 1.52%. This indicates that TRD3.DE's price experiences larger fluctuations and is considered to be riskier than SYBW.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 | SYBW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.68% | 1.52% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 4.22% | 3.95% | +0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.82% | 5.54% | +0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.20% | 7.16% | +0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.91% | 10.47% | -2.56% |
TRD3.DE vs. SYBW.DE - Expense Ratio Comparison
TRD3.DE has a 0.06% expense ratio, which is higher than SYBW.DE's 0.05% expense ratio. However, 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. SYBW.DE - Dividend Comparison
TRD3.DE's dividend yield for the trailing twelve months is around 3.83%, which matches SYBW.DE's 3.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SYBW.DE State Street SPDR Bloomberg 1-3 Year U.S. Treasury Bond UCITS ETF (Dist) | 3.83% | 4.34% | 3.98% | 3.01% | 0.64% | 0.54% | 1.91% | 2.03% | 1.33% | 1.05% | 0.68% | 0.53% |
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% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, TRD3.DE and SYBW.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, SYBW.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SYBW.DE is cheaper with a 0.05% expense ratio, compared with 0.06% for TRD3.DE.
TRD3.DE tracks Bloomberg US Treasury 1-3 Year Index, while SYBW.DE tracks Bloomberg U.S. 1-3 Year Treasury Bond Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.06% for TRD3.DE and 0.05% for SYBW.DE.
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