TRDS.DE vs. XUTD.DE
TRDS.DE (Invesco US Treasury Bond UCITS ETF Dist) and XUTD.DE (Xtrackers II US Treasuries UCITS ETF 1D) are both Government Bonds funds - TRDS.DE tracks the Bloomberg US Treasury Index while XUTD.DE tracks the iBoxx USD Treasuries Index. Both are passively managed. Over the past 5 years, TRDS.DE returned 0.68%/yr vs 0.60%/yr for XUTD.DE. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 0.06% expense ratio.
Performance
TRDS.DE vs. XUTD.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with TRDS.DE having a 3.87% return and XUTD.DE slightly higher at 3.91%.
TRDS.DE
- 1D
- -0.47%
- 1M
- 3.14%
- YTD
- 3.87%
- 6M
- 4.21%
- 1Y
- 5.74%
- 3Y*
- 1.67%
- 5Y*
- 0.68%
- 10Y*
- —
XUTD.DE
- 1D
- -0.12%
- 1M
- 3.16%
- YTD
- 3.91%
- 6M
- 4.35%
- 1Y
- 5.89%
- 3Y*
- 1.65%
- 5Y*
- 0.60%
- 10Y*
- 0.46%
TRDS.DE vs. XUTD.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% |
XUTD.DE Xtrackers II US Treasuries UCITS ETF 1D | 3.91% | -5.36% | 6.37% | 0.41% | -7.34% | 5.70% | -1.66% | 10.05% |
Correlation
The correlation between TRDS.DE and XUTD.DE is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2019 | 0.85 |
The correlation between TRDS.DE and XUTD.DE shifts across timeframes, from 0.85 (all time) to 0.99 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TRDS.DE vs. XUTD.DE — Risk / Return Rank
TRDS.DE
XUTD.DE
TRDS.DE vs. XUTD.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 Xtrackers II US Treasuries UCITS ETF 1D (XUTD.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 | XUTD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.19 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 1.50 | -0.06 |
| Martin ratioReturn relative to average drawdown | 3.72 | 3.88 | -0.16 |
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Drawdowns
TRDS.DE vs. XUTD.DE - Drawdown Comparison
The maximum TRDS.DE drawdown since its inception was -17.30%, roughly equal to the maximum XUTD.DE drawdown of -18.01%. Use the drawdown chart below to compare losses from any high point for TRDS.DE and XUTD.DE.
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Drawdown Indicators
| TRDS.DE | XUTD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.30% | -18.01% | +0.71% |
Max Drawdown (1Y)Largest decline over 1 year | -3.98% | -3.92% | -0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -10.99% | -11.06% | +0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -12.94% | -13.06% | +0.12% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.01% | — |
Current DrawdownCurrent decline from peak | -10.21% | -10.96% | +0.75% |
Average DrawdownAverage peak-to-trough decline | -10.36% | -9.37% | -0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 1.52% | +0.02% |
Volatility
TRDS.DE vs. XUTD.DE - Volatility Comparison
Invesco US Treasury Bond UCITS ETF Dist (TRDS.DE) has a higher volatility of 1.77% compared to Xtrackers II US Treasuries UCITS ETF 1D (XUTD.DE) at 1.47%. This indicates that TRDS.DE's price experiences larger fluctuations and is considered to be riskier than XUTD.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 | XUTD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 1.47% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 4.10% | 3.94% | +0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.70% | 5.60% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.04% | 8.15% | -0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.67% | 7.96% | +0.71% |
TRDS.DE vs. XUTD.DE - Expense Ratio Comparison
Both TRDS.DE and XUTD.DE have an expense ratio of 0.06%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
TRDS.DE vs. XUTD.DE - Dividend Comparison
TRDS.DE's dividend yield for the trailing twelve months is around 4.17%, more than XUTD.DE's 3.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XUTD.DE Xtrackers II US Treasuries UCITS ETF 1D | 3.37% | 3.43% | 3.53% | 2.45% | 1.97% | 3.26% | 1.18% | 1.46% | 1.26% | 1.50% | 1.97% |
Frequently Asked Questions
With a correlation of 0.97, TRDS.DE and XUTD.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.
Both ETFs have the same 0.06% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
TRDS.DE and XUTD.DE have the same expense ratio: 0.06% per year.
TRDS.DE tracks Bloomberg US Treasury Index, while XUTD.DE tracks iBoxx USD Treasuries Index. They also come from different issuers: Invesco and Xtrackers.
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