TRDS.DE vs. SPP3.DE
TRDS.DE (Invesco US Treasury Bond UCITS ETF Dist) and SPP3.DE (SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF) are both Government Bonds funds - TRDS.DE tracks the Bloomberg US Treasury Index while SPP3.DE tracks the Bloomberg US 3-7 Year Treasury Bond. Both are passively managed. Over the past 5 years, TRDS.DE returned 0.24%/yr vs 1.43%/yr for SPP3.DE. Their correlation of 0.95 suggests significant overlap in exposure. TRDS.DE charges 0.06%/yr vs 0.15%/yr for SPP3.DE.
Performance
TRDS.DE vs. SPP3.DE - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with TRDS.DE at 0.86% and SPP3.DE at 0.86%.
TRDS.DE
- 1D
- -0.02%
- 1M
- 0.72%
- YTD
- 0.86%
- 6M
- 0.02%
- 1Y
- 1.02%
- 3Y*
- -0.30%
- 5Y*
- 0.24%
- 10Y*
- —
SPP3.DE
- 1D
- 0.03%
- 1M
- 0.59%
- YTD
- 0.86%
- 6M
- 0.21%
- 1Y
- 1.40%
- 3Y*
- 0.87%
- 5Y*
- 1.43%
- 10Y*
- 1.16%
TRDS.DE vs. SPP3.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% |
SPP3.DE SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | 0.86% | -4.58% | 7.72% | 1.58% | -3.86% | 5.71% | -2.64% | 4.90% |
Correlation
The correlation between TRDS.DE and SPP3.DE is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2019 | 0.95 |
The correlation between TRDS.DE and SPP3.DE has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
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Return for Risk
TRDS.DE vs. SPP3.DE — Risk / Return Rank
TRDS.DE
SPP3.DE
TRDS.DE vs. SPP3.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 SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (SPP3.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 | SPP3.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.05 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.24 | 0.34 | -0.10 |
| Martin ratioReturn relative to average drawdown | 0.60 | 0.87 | -0.27 |
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 | SPP3.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.18 | 0.26 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 0.18 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.16 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | 0.12 | -0.07 |
Drawdowns
TRDS.DE vs. SPP3.DE - Drawdown Comparison
The maximum TRDS.DE drawdown since its inception was -17.77%, which is greater than SPP3.DE's maximum drawdown of -16.82%. Use the drawdown chart below to compare losses from any high point for TRDS.DE and SPP3.DE.
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Drawdown Indicators
| TRDS.DE | SPP3.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.77% | -16.82% | -0.95% |
Max Drawdown (1Y)Largest decline over 1 year | -4.13% | -4.06% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -11.21% | -9.95% | -1.26% |
Max Drawdown (5Y)Largest decline over 5 years | -13.10% | -11.51% | -1.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.82% | — |
Current DrawdownCurrent decline from peak | -14.15% | -6.25% | -7.90% |
Average DrawdownAverage peak-to-trough decline | -10.46% | -6.75% | -3.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.68% | 1.61% | +0.07% |
Volatility
TRDS.DE vs. SPP3.DE - Volatility Comparison
Invesco US Treasury Bond UCITS ETF Dist (TRDS.DE) has a higher volatility of 0.93% compared to SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (SPP3.DE) at 0.76%. This indicates that TRDS.DE's price experiences larger fluctuations and is considered to be riskier than SPP3.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 | SPP3.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 0.76% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 3.90% | 3.64% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.61% | 5.29% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.04% | 7.72% | +0.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.80% | 7.35% | +0.45% |
TRDS.DE vs. SPP3.DE - Expense Ratio Comparison
TRDS.DE has a 0.06% expense ratio, which is lower than SPP3.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
TRDS.DE vs. SPP3.DE - Dividend Comparison
TRDS.DE's dividend yield for the trailing twelve months is around 3.65%, less than SPP3.DE's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
SPP3.DE SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | 3.91% | 3.96% | 3.14% | 2.90% | 1.13% | 0.93% | 1.80% | 2.12% | 1.59% | 1.48% | 0.44% |
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% |
Frequently Asked Questions
With a correlation of 0.95, TRDS.DE and SPP3.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 0.15% for SPP3.DE.
TRDS.DE tracks Bloomberg US Treasury Index, while SPP3.DE tracks Bloomberg US 3-7 Year Treasury Bond. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.06% for TRDS.DE and 0.15% for SPP3.DE.
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