TRE7.L vs. VUTA.L
TRE7.L (Invesco US Treasury Bond 3-7 Year UCITS ETF Dist) and VUTA.L (Vanguard USD Treasury Bond UCITS ETF Accumulating) are both Government Bonds funds - TRE7.L tracks the Bloomberg US 3-7 Year Treasury Bond Index while VUTA.L tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index. Both are passively managed. Over the past 5 years, TRE7.L returned 0.29%/yr vs -0.53%/yr for VUTA.L. A 0.65 correlation means they provide meaningful diversification when combined. TRE7.L charges 0.06%/yr vs 0.05%/yr for VUTA.L.
Performance
TRE7.L vs. VUTA.L - Performance Comparison
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Different Trading Currencies
TRE7.L is traded in USD, while VUTA.L is traded in GBP. To make them comparable, the VUTA.L values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with TRE7.L having a -0.87% return and VUTA.L slightly higher at -0.84%.
TRE7.L
- 1D
- -0.42%
- 1M
- -0.82%
- YTD
- -0.87%
- 6M
- -0.36%
- 1Y
- 2.84%
- 3Y*
- 3.57%
- 5Y*
- 0.29%
- 10Y*
- —
VUTA.L
- 1D
- -0.65%
- 1M
- -0.85%
- YTD
- -0.84%
- 6M
- -0.54%
- 1Y
- 2.98%
- 3Y*
- 2.59%
- 5Y*
- -0.53%
- 10Y*
- —
TRE7.L vs. VUTA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TRE7.L Invesco US Treasury Bond 3-7 Year UCITS ETF Dist | -0.87% | 7.33% | 2.08% | 4.24% | -9.37% | -2.36% | 7.00% | 5.28% |
VUTA.L Vanguard USD Treasury Bond UCITS ETF Accumulating | -0.84% | 6.34% | 0.80% | 3.27% | -12.37% | -1.98% | 7.15% | -18.22% |
Correlation
The correlation between TRE7.L and VUTA.L is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2019 | 0.65 |
The correlation between TRE7.L and VUTA.L shifts across timeframes, from 0.54 (1 year) to 0.69 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TRE7.L vs. VUTA.L — Risk / Return Rank
TRE7.L
VUTA.L
TRE7.L vs. VUTA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco US Treasury Bond 3-7 Year UCITS ETF Dist (TRE7.L) and Vanguard USD Treasury Bond UCITS ETF Accumulating (VUTA.L). 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.
| TRE7.L | VUTA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.10 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.12 | 0.96 | +0.17 |
| Martin ratioReturn relative to average drawdown | 3.54 | 2.78 | +0.76 |
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
| TRE7.L | VUTA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.95 | 0.59 | +0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.06 | -0.03 | +0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | -0.16 | +0.56 |
Drawdowns
TRE7.L vs. VUTA.L - Drawdown Comparison
The maximum TRE7.L drawdown since its inception was -14.10%, smaller than the maximum VUTA.L drawdown of -27.44%. Use the drawdown chart below to compare losses from any high point for TRE7.L and VUTA.L.
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Drawdown Indicators
| TRE7.L | VUTA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.10% | -27.44% | +13.34% |
Max Drawdown (1Y)Largest decline over 1 year | -2.52% | -3.10% | +0.58% |
Max Drawdown (3Y)Largest decline over 3 years | -3.70% | -19.53% | +15.83% |
Max Drawdown (5Y)Largest decline over 5 years | -13.52% | -19.53% | +6.01% |
Current DrawdownCurrent decline from peak | -2.02% | -17.39% | +15.37% |
Average DrawdownAverage peak-to-trough decline | -4.40% | -18.95% | +14.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 1.07% | -0.27% |
Volatility
TRE7.L vs. VUTA.L - Volatility Comparison
The current volatility for Invesco US Treasury Bond 3-7 Year UCITS ETF Dist (TRE7.L) is 1.22%, while Vanguard USD Treasury Bond UCITS ETF Accumulating (VUTA.L) has a volatility of 1.58%. This indicates that TRE7.L experiences smaller price fluctuations and is considered to be less risky than VUTA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRE7.L | VUTA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 1.58% | -0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 2.17% | 3.79% | -1.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.97% | 5.04% | -2.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.76% | 15.76% | -11.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.25% | 16.27% | -12.02% |
TRE7.L vs. VUTA.L - Expense Ratio Comparison
TRE7.L has a 0.06% expense ratio, which is higher than VUTA.L'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
TRE7.L vs. VUTA.L - Dividend Comparison
TRE7.L's dividend yield for the trailing twelve months is around 4.15%, while VUTA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
TRE7.L Invesco US Treasury Bond 3-7 Year UCITS ETF Dist | 4.15% | 4.09% | 4.23% | 3.61% | 1.72% | 0.87% | 1.29% | 1.89% |
VUTA.L Vanguard USD Treasury Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TRE7.L and VUTA.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VUTA.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUTA.L is cheaper with a 0.05% expense ratio, compared with 0.06% for TRE7.L.
TRE7.L tracks Bloomberg US 3-7 Year Treasury Bond Index, while VUTA.L 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 TRE7.L and 0.05% for VUTA.L.
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