TRDS.DE vs. IS04.DE
TRDS.DE (Invesco US Treasury Bond UCITS ETF Dist) and IS04.DE (iShares USD Treasury Bond 20+yr UCITS ETF (Dist)) are both Government Bonds funds - TRDS.DE tracks the Bloomberg US Treasury Index while IS04.DE tracks the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 5 years, TRDS.DE returned 0.24%/yr vs -5.21%/yr for IS04.DE. A 0.79 correlation means they provide meaningful diversification when combined. TRDS.DE charges 0.06%/yr vs 0.07%/yr for IS04.DE.
Performance
TRDS.DE vs. IS04.DE - Performance Comparison
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Returns By Period
In the year-to-date period, TRDS.DE achieves a 0.86% return, which is significantly higher than IS04.DE's 0.81% return.
TRDS.DE
- 1D
- -0.02%
- 1M
- 0.72%
- YTD
- 0.86%
- 6M
- 0.02%
- 1Y
- 1.02%
- 3Y*
- -0.30%
- 5Y*
- 0.24%
- 10Y*
- —
IS04.DE
- 1D
- 0.41%
- 1M
- 1.45%
- YTD
- 0.81%
- 6M
- -0.81%
- 1Y
- 2.13%
- 3Y*
- -4.20%
- 5Y*
- -5.21%
- 10Y*
- -1.74%
TRDS.DE vs. IS04.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TRDS.DE Invesco US Treasury Bond UCITS ETF Dist | 0.86% | -5.91% | 6.16% | 0.07% | -6.97% | 5.67% | -2.04% | 6.04% |
IS04.DE iShares USD Treasury Bond 20+yr UCITS ETF (Dist) | 0.81% | -6.95% | -2.51% | -1.21% | -26.01% | 3.49% | 6.49% | 15.04% |
Correlation
The correlation between TRDS.DE and IS04.DE is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2019 | 0.79 |
The correlation between TRDS.DE and IS04.DE shifts across timeframes, from 0.66 (1 year) to 0.79 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TRDS.DE vs. IS04.DE — Risk / Return Rank
TRDS.DE
IS04.DE
TRDS.DE vs. IS04.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco US Treasury Bond UCITS ETF Dist (TRDS.DE) and iShares USD Treasury Bond 20+yr UCITS ETF (Dist) (IS04.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.
| TRDS.DE | IS04.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.04 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.24 | 0.29 | -0.04 |
| Martin ratioReturn relative to average drawdown | 0.60 | 0.62 | -0.01 |
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
| TRDS.DE | IS04.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.18 | 0.22 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | -0.34 | +0.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.12 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | -0.09 | +0.15 |
Drawdowns
TRDS.DE vs. IS04.DE - Drawdown Comparison
The maximum TRDS.DE drawdown since its inception was -17.77%, smaller than the maximum IS04.DE drawdown of -47.19%. Use the drawdown chart below to compare losses from any high point for TRDS.DE and IS04.DE.
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Drawdown Indicators
| TRDS.DE | IS04.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.77% | -47.19% | +29.42% |
Max Drawdown (1Y)Largest decline over 1 year | -4.13% | -7.33% | +3.20% |
Max Drawdown (3Y)Largest decline over 3 years | -11.21% | -18.47% | +7.26% |
Max Drawdown (5Y)Largest decline over 5 years | -13.10% | -40.05% | +26.95% |
Max Drawdown (10Y)Largest decline over 10 years | — | -47.19% | — |
Current DrawdownCurrent decline from peak | -14.15% | -43.69% | +29.54% |
Average DrawdownAverage peak-to-trough decline | -10.46% | -21.89% | +11.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.68% | 3.45% | -1.77% |
Volatility
TRDS.DE vs. IS04.DE - Volatility Comparison
The current volatility for Invesco US Treasury Bond UCITS ETF Dist (TRDS.DE) is 0.93%, while iShares USD Treasury Bond 20+yr UCITS ETF (Dist) (IS04.DE) has a volatility of 2.47%. This indicates that TRDS.DE experiences smaller price fluctuations and is considered to be less risky than IS04.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRDS.DE | IS04.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 2.47% | -1.54% |
Volatility (6M)Calculated over the trailing 6-month period | 3.90% | 6.52% | -2.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.61% | 9.70% | -4.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.04% | 15.21% | -7.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.80% | 14.69% | -6.89% |
TRDS.DE vs. IS04.DE - Expense Ratio Comparison
TRDS.DE has a 0.06% expense ratio, which is lower than IS04.DE's 0.07% 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
TRDS.DE vs. IS04.DE - Dividend Comparison
TRDS.DE's dividend yield for the trailing twelve months is around 3.65%, less than IS04.DE's 4.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS04.DE iShares USD Treasury Bond 20+yr UCITS ETF (Dist) | 4.35% | 4.38% | 4.62% | 3.82% | 3.04% | 1.71% | 1.86% | 2.49% | 2.79% | 2.72% | 2.56% | 2.14% |
TRDS.DE Invesco US Treasury Bond UCITS ETF Dist | 3.65% | 3.76% | 3.83% | 3.58% | 1.90% | 0.94% | 1.47% | 1.48% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TRDS.DE and IS04.DE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRDS.DE is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRDS.DE is cheaper with a 0.06% expense ratio, compared with 0.07% for IS04.DE.
TRDS.DE tracks Bloomberg US Treasury Index, while IS04.DE tracks ICE U.S. Treasury 20+ Year Bond Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.06% for TRDS.DE and 0.07% for IS04.DE.
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