TRDS.DE vs. SPPX.DE
TRDS.DE (Invesco US Treasury Bond UCITS ETF Dist) and SPPX.DE (SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF) are both Government Bonds funds - TRDS.DE tracks the Bloomberg US Treasury Index while SPPX.DE tracks the Bloomberg US 10+ Year Treasury Bond. Both are passively managed. Over the past 5 years, TRDS.DE returned 0.68%/yr vs -4.26%/yr for SPPX.DE. A 0.67 correlation means they provide meaningful diversification when combined. TRDS.DE charges 0.06%/yr vs 0.15%/yr for SPPX.DE.
Performance
TRDS.DE vs. SPPX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, TRDS.DE achieves a 3.87% return, which is significantly lower than SPPX.DE's 5.09% return.
TRDS.DE
- 1D
- -0.47%
- 1M
- 3.14%
- YTD
- 3.87%
- 6M
- 4.21%
- 1Y
- 5.74%
- 3Y*
- 1.67%
- 5Y*
- 0.68%
- 10Y*
- —
SPPX.DE
- 1D
- -0.11%
- 1M
- 5.04%
- YTD
- 5.09%
- 6M
- 5.56%
- 1Y
- 7.67%
- 3Y*
- -1.69%
- 5Y*
- -4.26%
- 10Y*
- -1.66%
TRDS.DE vs. SPPX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TRDS.DE Invesco US Treasury Bond UCITS ETF Dist | 3.87% | -5.42% | 6.49% | 0.35% | -6.88% | 5.85% | -1.83% | -4.56% |
SPPX.DE SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF | 5.09% | -6.02% | -0.97% | -0.77% | -24.28% | 3.04% | 6.12% | 18.22% |
Correlation
The correlation between TRDS.DE and SPPX.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 | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2019 | 0.67 |
The correlation between TRDS.DE and SPPX.DE shifts across timeframes, from 0.67 (all time) to 0.78 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TRDS.DE vs. SPPX.DE — Risk / Return Rank
TRDS.DE
SPPX.DE
TRDS.DE vs. SPPX.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 10+ Year US Treasury Bond UCITS ETF (SPPX.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.
| TRDS.DE | SPPX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.15 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 1.21 | +0.22 |
| Martin ratioReturn relative to average drawdown | 3.72 | 2.62 | +1.09 |
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Drawdowns
TRDS.DE vs. SPPX.DE - Drawdown Comparison
The maximum TRDS.DE drawdown since its inception was -17.30%, smaller than the maximum SPPX.DE drawdown of -44.59%. Use the drawdown chart below to compare losses from any high point for TRDS.DE and SPPX.DE.
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Drawdown Indicators
| TRDS.DE | SPPX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.30% | -44.59% | +27.29% |
Max Drawdown (1Y)Largest decline over 1 year | -3.98% | -6.30% | +2.32% |
Max Drawdown (3Y)Largest decline over 3 years | -10.99% | -16.53% | +5.54% |
Max Drawdown (5Y)Largest decline over 5 years | -12.94% | -36.55% | +23.61% |
Max Drawdown (10Y)Largest decline over 10 years | — | -44.59% | — |
Current DrawdownCurrent decline from peak | -10.21% | -38.37% | +28.16% |
Average DrawdownAverage peak-to-trough decline | -10.36% | -22.68% | +12.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 2.92% | -1.38% |
Volatility
TRDS.DE vs. SPPX.DE - Volatility Comparison
The current volatility for Invesco US Treasury Bond UCITS ETF Dist (TRDS.DE) is 1.77%, while SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF (SPPX.DE) has a volatility of 2.39%. This indicates that TRDS.DE experiences smaller price fluctuations and is considered to be less risky than SPPX.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 | SPPX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 2.39% | -0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 4.10% | 6.21% | -2.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.70% | 9.00% | -3.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.04% | 14.21% | -6.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.67% | 16.48% | -7.81% |
TRDS.DE vs. SPPX.DE - Expense Ratio Comparison
TRDS.DE has a 0.06% expense ratio, which is lower than SPPX.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. SPPX.DE - Dividend Comparison
TRDS.DE's dividend yield for the trailing twelve months is around 4.17%, less than SPPX.DE's 4.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
SPPX.DE SPDR Bloomberg 10+ Year US Treasury Bond UCITS ETF | 4.42% | 4.77% | 4.08% | 3.14% | 2.57% | 1.63% | 2.07% | 2.42% | 2.38% | 2.77% | 1.07% |
TRDS.DE Invesco US Treasury Bond UCITS ETF Dist | 4.17% | 4.31% | 4.13% | 3.87% | 1.99% | 1.10% | 1.69% | 1.96% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TRDS.DE and SPPX.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, 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 SPPX.DE.
TRDS.DE tracks Bloomberg US Treasury Index, while SPPX.DE tracks Bloomberg US 10+ 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 SPPX.DE.
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