TRDL.DE vs. VAGT.DE
TRDL.DE (Invesco US Treasury Bond 10+ Year UCITS ETF Dist) and VAGT.DE (Vanguard USD Treasury Bond UCITS ETF Accumulating) are both Government Bonds funds - TRDL.DE tracks the Bloomberg US Long Treasury Index while VAGT.DE tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index. Both are passively managed. Over the past 3 years, TRDL.DE returned -4.02%/yr vs 0.08%/yr for VAGT.DE. A 0.77 correlation means they provide meaningful diversification when combined. TRDL.DE charges 0.06%/yr vs 0.05%/yr for VAGT.DE.
Performance
TRDL.DE vs. VAGT.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 VAGT.DE's 1.07% return.
TRDL.DE
- 1D
- 0.19%
- 1M
- 0.81%
- YTD
- 0.56%
- 6M
- -0.74%
- 1Y
- 1.84%
- 3Y*
- -4.02%
- 5Y*
- —
- 10Y*
- —
VAGT.DE
- 1D
- 0.09%
- 1M
- 0.85%
- YTD
- 1.07%
- 6M
- 0.31%
- 1Y
- 1.96%
- 3Y*
- 0.08%
- 5Y*
- —
- 10Y*
- —
TRDL.DE vs. VAGT.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
TRDL.DE Invesco US Treasury Bond 10+ Year UCITS ETF Dist | 0.56% | -6.69% | -1.18% | -4.15% |
VAGT.DE Vanguard USD Treasury Bond UCITS ETF Accumulating | 1.07% | -5.48% | 6.40% | -0.45% |
Correlation
The correlation between TRDL.DE and VAGT.DE is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2023 | 0.77 |
The correlation between TRDL.DE and VAGT.DE has been stable across timeframes, ranging from 0.73 to 0.77 - a consistent structural relationship.
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Return for Risk
TRDL.DE vs. VAGT.DE — Risk / Return Rank
TRDL.DE
VAGT.DE
TRDL.DE vs. VAGT.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 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.
| TRDL.DE | VAGT.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.05 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.23 | 0.40 | -0.17 |
| Martin ratioReturn relative to average drawdown | 0.51 | 1.00 | -0.49 |
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 | VAGT.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.18 | 0.29 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.28 | 0.05 | -0.33 |
Drawdowns
TRDL.DE vs. VAGT.DE - Drawdown Comparison
The maximum TRDL.DE drawdown since its inception was -21.20%, 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 TRDL.DE and VAGT.DE.
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Drawdown Indicators
| TRDL.DE | VAGT.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.20% | -11.03% | -10.17% |
Max Drawdown (1Y)Largest decline over 1 year | -6.76% | -4.00% | -2.76% |
Max Drawdown (3Y)Largest decline over 3 years | -16.89% | -11.03% | -5.86% |
Current DrawdownCurrent decline from peak | -16.50% | -7.21% | -9.29% |
Average DrawdownAverage peak-to-trough decline | -11.77% | -5.04% | -6.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.09% | 1.61% | +1.48% |
Volatility
TRDL.DE vs. VAGT.DE - Volatility Comparison
Invesco US Treasury Bond 10+ Year UCITS ETF Dist (TRDL.DE) has a higher volatility of 2.50% compared to Vanguard USD Treasury Bond UCITS ETF Accumulating (VAGT.DE) at 0.86%. This indicates that TRDL.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
| TRDL.DE | VAGT.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.50% | 0.86% | +1.64% |
Volatility (6M)Calculated over the trailing 6-month period | 6.26% | 3.76% | +2.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.00% | 5.49% | +3.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.14% | 7.33% | +5.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.14% | 7.33% | +5.81% |
TRDL.DE vs. VAGT.DE - Expense Ratio Comparison
TRDL.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
TRDL.DE vs. VAGT.DE - Dividend Comparison
TRDL.DE's dividend yield for the trailing twelve months is around 4.15%, while VAGT.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
TRDL.DE Invesco US Treasury Bond 10+ Year UCITS ETF Dist | 4.15% | 4.26% | 4.36% | 2.87% | 0.51% |
VAGT.DE Vanguard USD Treasury Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TRDL.DE and VAGT.DE have a correlation of 0.73, 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 TRDL.DE.
TRDL.DE tracks Bloomberg US Long Treasury 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 TRDL.DE and 0.05% for VAGT.DE.
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