TRDL.DE vs. QDVP.DE
TRDL.DE (Invesco US Treasury Bond 10+ Year UCITS ETF Dist) and QDVP.DE (iShares US Mortgage Backed Securities UCITS ETF) are both exchange-traded funds - TRDL.DE is a Government Bonds fund tracking the Bloomberg US Long Treasury Index, while QDVP.DE is a Mortgage Backed Securities fund tracking the Bloomberg US Mortgage Backed Securities Index. Both are passively managed. Over the past 3 years, TRDL.DE returned -4.02%/yr vs 1.34%/yr for QDVP.DE. A 0.77 correlation means they provide meaningful diversification when combined. TRDL.DE charges 0.06%/yr vs 0.28%/yr for QDVP.DE.
Performance
TRDL.DE vs. QDVP.DE - Performance Comparison
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Returns By Period
In the year-to-date period, TRDL.DE achieves a 0.56% return, which is significantly lower than QDVP.DE's 1.51% return.
TRDL.DE
- 1D
- 0.19%
- 1M
- 1.37%
- YTD
- 0.56%
- 6M
- -0.99%
- 1Y
- 1.59%
- 3Y*
- -4.02%
- 5Y*
- —
- 10Y*
- —
QDVP.DE
- 1D
- 0.04%
- 1M
- 0.87%
- YTD
- 1.51%
- 6M
- 1.20%
- 1Y
- 4.26%
- 3Y*
- 1.34%
- 5Y*
- 1.05%
- 10Y*
- 0.86%
TRDL.DE vs. QDVP.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TRDL.DE Invesco US Treasury Bond 10+ Year UCITS ETF Dist | 0.56% | -6.69% | -1.18% | -1.92% | -4.24% |
QDVP.DE iShares US Mortgage Backed Securities UCITS ETF | 1.51% | -3.56% | 7.02% | 0.27% | -4.16% |
Correlation
The correlation between TRDL.DE and QDVP.DE is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2022 | 0.77 |
The correlation between TRDL.DE and QDVP.DE has been stable across timeframes, ranging from 0.68 to 0.78 - a consistent structural relationship.
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Return for Risk
TRDL.DE vs. QDVP.DE — Risk / Return Rank
TRDL.DE
QDVP.DE
TRDL.DE vs. QDVP.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco US Treasury Bond 10+ Year UCITS ETF Dist (TRDL.DE) and iShares US Mortgage Backed Securities UCITS ETF (QDVP.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.
| TRDL.DE | QDVP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.14 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.23 | 1.23 | -0.99 |
| Martin ratioReturn relative to average drawdown | 0.51 | 3.10 | -2.59 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TRDL.DE | QDVP.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.18 | 0.75 | -0.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.13 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.28 | 0.09 | -0.37 |
Drawdowns
TRDL.DE vs. QDVP.DE - Drawdown Comparison
The maximum TRDL.DE drawdown since its inception was -21.20%, which is greater than QDVP.DE's maximum drawdown of -16.57%. Use the drawdown chart below to compare losses from any high point for TRDL.DE and QDVP.DE.
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Drawdown Indicators
| TRDL.DE | QDVP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.20% | -16.57% | -4.63% |
Max Drawdown (1Y)Largest decline over 1 year | -6.76% | -3.46% | -3.30% |
Max Drawdown (3Y)Largest decline over 3 years | -16.89% | -11.15% | -5.74% |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.91% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.57% | — |
Current DrawdownCurrent decline from peak | -16.50% | -7.63% | -8.87% |
Average DrawdownAverage peak-to-trough decline | -11.77% | -7.72% | -4.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.09% | 1.37% | +1.72% |
Volatility
TRDL.DE vs. QDVP.DE - Volatility Comparison
Invesco US Treasury Bond 10+ Year UCITS ETF Dist (TRDL.DE) has a higher volatility of 2.50% compared to iShares US Mortgage Backed Securities UCITS ETF (QDVP.DE) at 0.92%. This indicates that TRDL.DE's price experiences larger fluctuations and is considered to be riskier than QDVP.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRDL.DE | QDVP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.50% | 0.92% | +1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 6.26% | 4.07% | +2.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.00% | 5.62% | +3.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.14% | 8.15% | +4.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.14% | 7.56% | +5.58% |
TRDL.DE vs. QDVP.DE - Expense Ratio Comparison
TRDL.DE has a 0.06% expense ratio, which is lower than QDVP.DE's 0.28% expense ratio.
Dividends
TRDL.DE vs. QDVP.DE - Dividend Comparison
TRDL.DE's dividend yield for the trailing twelve months is around 4.15%, more than QDVP.DE's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
QDVP.DE iShares US Mortgage Backed Securities UCITS ETF | 3.58% | 3.63% | 3.51% | 3.27% | 2.45% | 2.19% | 2.69% | 2.99% | 3.03% | 3.04% | 1.54% |
TRDL.DE Invesco US Treasury Bond 10+ Year UCITS ETF Dist | 4.15% | 4.26% | 4.36% | 2.87% | 0.51% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TRDL.DE and QDVP.DE have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRDL.DE is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRDL.DE is cheaper with a 0.06% expense ratio, compared with 0.28% for QDVP.DE.
TRDL.DE is categorized as Government Bonds, while QDVP.DE is Mortgage Backed Securities. TRDL.DE tracks Bloomberg US Long Treasury Index, while QDVP.DE tracks Bloomberg US Mortgage Backed Securities Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.06% for TRDL.DE and 0.28% for QDVP.DE.
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