TRD3.DE vs. VAGT.DE
TRD3.DE (Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist) and VAGT.DE (Vanguard USD Treasury Bond UCITS ETF Accumulating) are both Government Bonds funds - TRD3.DE tracks the Bloomberg US Treasury 1-3 Year Index while VAGT.DE tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index. Both are passively managed. Over the past 3 years, TRD3.DE returned 3.61%/yr vs 2.13%/yr for VAGT.DE. Their correlation of 0.81 suggests significant overlap in exposure. TRD3.DE charges 0.06%/yr vs 0.05%/yr for VAGT.DE.
Performance
TRD3.DE vs. VAGT.DE - Performance Comparison
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Returns By Period
In the year-to-date period, TRD3.DE achieves a 3.72% return, which is significantly higher than VAGT.DE's 2.49% return.
TRD3.DE
- 1D
- 0.03%
- 1M
- 1.51%
- 6M
- 2.33%
- YTD
- 3.72%
- 1Y
- 4.65%
- 3Y*
- 3.61%
- 5Y*
- 2.57%
- 10Y*
- —
VAGT.DE
- 1D
- 0.00%
- 1M
- 0.81%
- 6M
- 1.16%
- YTD
- 2.49%
- 1Y
- 4.46%
- 3Y*
- 2.13%
- 5Y*
- —
- 10Y*
- —
TRD3.DE vs. VAGT.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
TRD3.DE Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist | 3.72% | -6.54% | 10.06% | -0.20% |
VAGT.DE Vanguard USD Treasury Bond UCITS ETF Accumulating | 2.49% | -5.48% | 6.40% | -0.47% |
Correlation
The correlation between TRD3.DE and VAGT.DE is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2023 | 0.81 |
The correlation between TRD3.DE and VAGT.DE has been stable across timeframes, ranging from 0.80 to 0.82 - a consistent structural relationship.
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Return for Risk
TRD3.DE vs. VAGT.DE — Risk / Return Rank
TRD3.DE
VAGT.DE
TRD3.DE vs. VAGT.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 Vanguard USD Treasury Bond UCITS ETF Accumulating (VAGT.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 | VAGT.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.15 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | 1.12 | +0.23 |
| Martin ratioReturn relative to average drawdown | 3.27 | 2.88 | +0.39 |
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Drawdowns
TRD3.DE vs. VAGT.DE - Drawdown Comparison
The maximum TRD3.DE drawdown since its inception was -13.49%, which is greater than VAGT.DE's maximum drawdown of -11.03%. Use the drawdown chart below to compare losses from any high point for TRD3.DE and VAGT.DE.
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Drawdown Indicators
| TRD3.DE | VAGT.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.49% | -11.03% | -2.46% |
Max Drawdown (1Y)Largest decline over 1 year | -3.42% | -4.00% | +0.58% |
Max Drawdown (3Y)Largest decline over 3 years | -10.90% | -11.03% | +0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -12.49% | — | — |
Current DrawdownCurrent decline from peak | -5.17% | -5.91% | +0.74% |
Average DrawdownAverage peak-to-trough decline | -7.12% | -5.06% | -2.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.42% | 1.56% | -0.14% |
Volatility
TRD3.DE vs. VAGT.DE - Volatility Comparison
Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist (TRD3.DE) has a higher volatility of 1.35% compared to Vanguard USD Treasury Bond UCITS ETF Accumulating (VAGT.DE) at 1.23%. This indicates that TRD3.DE's price experiences larger fluctuations and is considered to be riskier than VAGT.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 | VAGT.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 1.23% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 4.08% | 3.81% | +0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.73% | 5.46% | +0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.20% | 7.26% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.89% | 7.26% | +0.63% |
TRD3.DE vs. VAGT.DE - Expense Ratio Comparison
TRD3.DE has a 0.06% expense ratio, which is higher than VAGT.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. VAGT.DE - Dividend Comparison
TRD3.DE's dividend yield for the trailing twelve months is around 3.82%, while VAGT.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
TRD3.DE Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist | 3.82% | 4.18% | 4.28% | 4.20% | 2.04% | 0.31% | 1.28% | 1.96% |
VAGT.DE Vanguard USD Treasury Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TRD3.DE and VAGT.DE have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VAGT.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VAGT.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 VAGT.DE tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.06% for TRD3.DE and 0.05% for VAGT.DE.
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