TRDL.DE vs. SYBW.DE
TRDL.DE (Invesco US Treasury Bond 10+ Year UCITS ETF Dist) and SYBW.DE (State Street SPDR Bloomberg 1-3 Year U.S. Treasury Bond UCITS ETF (Dist)) are both Government Bonds funds - TRDL.DE tracks the Bloomberg US Long Treasury Index while SYBW.DE tracks the Bloomberg U.S. 1-3 Year Treasury Bond Index. Both are passively managed. Over the past 3 years, TRDL.DE returned -2.03%/yr vs 3.60%/yr for SYBW.DE. At a 0.33 correlation, their price movements are largely independent. TRDL.DE charges 0.06%/yr vs 0.05%/yr for SYBW.DE.
Performance
TRDL.DE vs. SYBW.DE - Performance Comparison
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Returns By Period
In the year-to-date period, TRDL.DE achieves a 1.01% return, which is significantly lower than SYBW.DE's 3.77% return.
TRDL.DE
- 1D
- 0.00%
- 1M
- -0.91%
- 6M
- -0.72%
- YTD
- 1.01%
- 1Y
- 4.69%
- 3Y*
- -2.03%
- 5Y*
- —
- 10Y*
- —
SYBW.DE
- 1D
- 0.14%
- 1M
- 1.61%
- 6M
- 2.39%
- YTD
- 3.77%
- 1Y
- 4.75%
- 3Y*
- 3.60%
- 5Y*
- 2.52%
- 10Y*
- 1.29%
TRDL.DE vs. SYBW.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TRDL.DE Invesco US Treasury Bond 10+ Year UCITS ETF Dist | 1.01% | -6.13% | -0.85% | -1.72% | -4.67% |
SYBW.DE State Street SPDR Bloomberg 1-3 Year U.S. Treasury Bond UCITS ETF (Dist) | 3.77% | -6.50% | 9.98% | 0.49% | -7.26% |
Correlation
The correlation between TRDL.DE and SYBW.DE is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2022 | 0.33 |
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Return for Risk
TRDL.DE vs. SYBW.DE — Risk / Return Rank
TRDL.DE
SYBW.DE
TRDL.DE vs. SYBW.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 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.
| TRDL.DE | SYBW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.15 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.73 | 1.34 | -0.61 |
| Martin ratioReturn relative to average drawdown | 1.55 | 3.36 | -1.81 |
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Drawdowns
TRDL.DE vs. SYBW.DE - Drawdown Comparison
The maximum TRDL.DE drawdown since its inception was -20.55%, smaller than the maximum SYBW.DE drawdown of -28.24%. Use the drawdown chart below to compare losses from any high point for TRDL.DE and SYBW.DE.
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Drawdown Indicators
| TRDL.DE | SYBW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.55% | -28.24% | +7.69% |
Max Drawdown (1Y)Largest decline over 1 year | -6.45% | -3.52% | -2.93% |
Max Drawdown (3Y)Largest decline over 3 years | -16.55% | -10.87% | -5.68% |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.61% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.37% | — |
Current DrawdownCurrent decline from peak | -15.14% | -5.13% | -10.01% |
Average DrawdownAverage peak-to-trough decline | -11.42% | -9.74% | -1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.03% | 1.40% | +1.63% |
Volatility
TRDL.DE vs. SYBW.DE - Volatility Comparison
Invesco US Treasury Bond 10+ Year UCITS ETF Dist (TRDL.DE) has a higher volatility of 2.16% compared to State Street SPDR Bloomberg 1-3 Year U.S. Treasury Bond UCITS ETF (Dist) (SYBW.DE) at 1.12%. This indicates that TRDL.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
| TRDL.DE | SYBW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.16% | 1.12% | +1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 6.19% | 3.89% | +2.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.92% | 5.46% | +3.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.11% | 7.16% | +5.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.11% | 10.47% | +2.64% |
TRDL.DE vs. SYBW.DE - Expense Ratio Comparison
TRDL.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
TRDL.DE vs. SYBW.DE - Dividend Comparison
TRDL.DE's dividend yield for the trailing twelve months is around 4.89%, more than SYBW.DE's 3.82% 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) | 3.82% | 4.34% | 3.98% | 3.01% | 0.64% | 0.54% | 1.91% | 2.03% | 1.33% | 1.05% | 0.68% | 0.53% |
TRDL.DE Invesco US Treasury Bond 10+ Year UCITS ETF Dist | 4.89% | 4.88% | 4.70% | 3.09% | 0.54% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TRDL.DE and SYBW.DE have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 TRDL.DE.
TRDL.DE tracks Bloomberg US Long Treasury 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 TRDL.DE and 0.05% for SYBW.DE.
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