TRDL.DE vs. SYBT.DE
TRDL.DE (Invesco US Treasury Bond 10+ Year UCITS ETF Dist) and SYBT.DE (SPDR Bloomberg US Treasury Bond UCITS ETF) are both Government Bonds funds - TRDL.DE tracks the Bloomberg US Long Treasury Index while SYBT.DE tracks the Bloomberg US Treasury. Both are passively managed. Over the past 3 years, TRDL.DE returned -4.02%/yr vs 0.03%/yr for SYBT.DE. A 0.76 correlation means they provide meaningful diversification when combined. TRDL.DE charges 0.06%/yr vs 0.15%/yr for SYBT.DE.
Performance
TRDL.DE vs. SYBT.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 SYBT.DE's 0.91% return.
TRDL.DE
- 1D
- 0.19%
- 1M
- 1.37%
- YTD
- 0.56%
- 6M
- -0.99%
- 1Y
- 1.59%
- 3Y*
- -4.02%
- 5Y*
- —
- 10Y*
- —
SYBT.DE
- 1D
- -0.19%
- 1M
- 0.79%
- YTD
- 0.91%
- 6M
- 0.11%
- 1Y
- 1.42%
- 3Y*
- 0.03%
- 5Y*
- 0.43%
- 10Y*
- 0.75%
TRDL.DE vs. SYBT.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% |
SYBT.DE SPDR Bloomberg US Treasury Bond UCITS ETF | 0.91% | -5.48% | 6.46% | 0.26% | -6.09% |
Correlation
The correlation between TRDL.DE and SYBT.DE is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2022 | 0.76 |
The correlation between TRDL.DE and SYBT.DE has been stable across timeframes, ranging from 0.71 to 0.76 - a consistent structural relationship.
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Return for Risk
TRDL.DE vs. SYBT.DE — Risk / Return Rank
TRDL.DE
SYBT.DE
TRDL.DE vs. SYBT.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 SPDR Bloomberg US Treasury Bond UCITS ETF (SYBT.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 | SYBT.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.05 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.23 | 0.34 | -0.10 |
| Martin ratioReturn relative to average drawdown | 0.51 | 0.88 | -0.36 |
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 | SYBT.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.18 | 0.25 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.05 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.28 | 0.35 | -0.63 |
Drawdowns
TRDL.DE vs. SYBT.DE - Drawdown Comparison
The maximum TRDL.DE drawdown since its inception was -21.20%, which is greater than SYBT.DE's maximum drawdown of -17.66%. Use the drawdown chart below to compare losses from any high point for TRDL.DE and SYBT.DE.
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Drawdown Indicators
| TRDL.DE | SYBT.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.20% | -17.66% | -3.54% |
Max Drawdown (1Y)Largest decline over 1 year | -6.76% | -4.22% | -2.54% |
Max Drawdown (3Y)Largest decline over 3 years | -16.89% | -11.03% | -5.86% |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.06% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.66% | — |
Current DrawdownCurrent decline from peak | -16.50% | -13.25% | -3.25% |
Average DrawdownAverage peak-to-trough decline | -11.77% | -8.61% | -3.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.09% | 1.62% | +1.47% |
Volatility
TRDL.DE vs. SYBT.DE - Volatility Comparison
Invesco US Treasury Bond 10+ Year UCITS ETF Dist (TRDL.DE) has a higher volatility of 2.50% compared to SPDR Bloomberg US Treasury Bond UCITS ETF (SYBT.DE) at 1.34%. This indicates that TRDL.DE's price experiences larger fluctuations and is considered to be riskier than SYBT.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 | SYBT.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.50% | 1.34% | +1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 6.26% | 4.16% | +2.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.00% | 5.77% | +3.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.14% | 8.18% | +4.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.14% | 7.74% | +5.40% |
TRDL.DE vs. SYBT.DE - Expense Ratio Comparison
TRDL.DE has a 0.06% expense ratio, which is lower than SYBT.DE's 0.15% 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
TRDL.DE vs. SYBT.DE - Dividend Comparison
TRDL.DE's dividend yield for the trailing twelve months is around 4.15%, more than SYBT.DE's 3.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SYBT.DE SPDR Bloomberg US Treasury Bond UCITS ETF | 3.62% | 3.70% | 2.94% | 2.22% | 1.31% | 0.92% | 1.98% | 3.24% | 1.58% | 1.66% | 1.29% | 1.25% |
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% | 0.00% |
Frequently Asked Questions
TRDL.DE and SYBT.DE have a correlation of 0.71, 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 0.15% for SYBT.DE.
TRDL.DE tracks Bloomberg US Long Treasury Index, while SYBT.DE tracks Bloomberg US Treasury. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.06% for TRDL.DE and 0.15% for SYBT.DE.
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