TREI.L vs. FTWG.L

Last updated Jul 16, 2026

TREI.L (Invesco US Treasury Bond 0-1 Year UCITS ETF) and FTWG.L (Invesco FTSE All-World UCITS ETF USD Dist) are both exchange-traded funds - TREI.L is a Government Bonds fund tracking the Invesco US Treasury Bond 0-1 Year UCITS ETF, while FTWG.L is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past 3 years, TREI.L returned 4.63%/yr vs 19.25%/yr for FTWG.L. At a 0.05 correlation, their price movements are largely independent. TREI.L charges 0.06%/yr vs 0.15%/yr for FTWG.L.

Performance

TREI.L vs. FTWG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco US Treasury Bond 0-1 Year UCITS ETF (TREI.L) and Invesco FTSE All-World UCITS ETF USD Dist (FTWG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

TREI.L is traded in USD, while FTWG.L is traded in GBp. To make them comparable, the FTWG.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, TREI.L achieves a 1.77% return, which is significantly lower than FTWG.L's 11.46% return.

TREI.L

• 1D: 0.00%
• 1M: 0.22%
• 6M: 1.65%
• YTD: 1.77%
• 1Y: 3.91%
• 3Y*: 4.63%
• 5Y*: 3.32%
• 10Y*: —

FTWG.L

• 1D: 0.46%
• 1M: -0.26%
• 6M: 9.89%
• YTD: 11.46%
• 1Y: 24.22%
• 3Y*: 19.25%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TREI.L vs. FTWG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TREI.L Invesco US Treasury Bond 0-1 Year UCITS ETF	1.77%	4.31%	5.17%	2.89%
FTWG.L Invesco FTSE All-World UCITS ETF USD Dist	11.46%	22.73%	17.92%	-13.58%

Correlation

The correlation between TREI.L and FTWG.L is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (All Time) Calculated using the full available price history since Jun 26, 2023	0.05

Return for Risk

TREI.L vs. FTWG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TREI.L

TREI.L Risk / Return Rank: 99
TREI.L Sharpe Ratio Rank: 99
TREI.L Sortino Ratio Rank: 99
TREI.L Omega Ratio Rank: 99
TREI.L Calmar Ratio Rank: 98
TREI.L Martin Ratio Rank: 99

FTWG.L

FTWG.L Risk / Return Rank: 81
FTWG.L Sharpe Ratio Rank: 82
FTWG.L Sortino Ratio Rank: 82
FTWG.L Omega Ratio Rank: 83
FTWG.L Calmar Ratio Rank: 77
FTWG.L Martin Ratio Rank: 81

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TREI.L vs. FTWG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco US Treasury Bond 0-1 Year UCITS ETF (TREI.L) and Invesco FTSE All-World UCITS ETF USD Dist (FTWG.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.

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.

	TREI.L	FTWG.L	Difference
Sharpe ratio: Return per unit of total volatility	6.57	1.97	+4.60
Sortino ratio: Return per unit of downside risk	10.91	2.87	+8.04
Omega ratio: Gain probability vs. loss probability	4.71	1.35	+3.36
Calmar ratio: Return relative to maximum drawdown	13.21	2.62	+10.59
Martin ratio: Return relative to average drawdown	159.95	10.87	+149.07

TREI.L vs. FTWG.L - Sharpe Ratio Comparison

The current TREI.L Sharpe Ratio is 6.57, which is higher than the FTWG.L Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of TREI.L and FTWG.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TREI.L vs. FTWG.L - Drawdown Comparison

The maximum TREI.L drawdown since its inception was -0.68%, smaller than the maximum FTWG.L drawdown of -25.84%. Use the drawdown chart below to compare losses from any high point for TREI.L and FTWG.L.

Drawdown Indicators

	TREI.L	FTWG.L	Difference
Max Drawdown Largest peak-to-trough decline	-0.68%	-25.84%	+25.16%
Max Drawdown (1Y) Largest decline over 1 year	-0.29%	-9.20%	+8.91%
Max Drawdown (3Y) Largest decline over 3 years	-0.29%	-16.89%	+16.60%
Max Drawdown (5Y) Largest decline over 5 years	-0.67%	—	—
Current Drawdown Current decline from peak	0.00%	-0.85%	+0.85%
Average Drawdown Average peak-to-trough decline	-0.06%	-6.28%	+6.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.02%	2.22%	-2.20%

Volatility

TREI.L vs. FTWG.L - Volatility Comparison

The current volatility for Invesco US Treasury Bond 0-1 Year UCITS ETF (TREI.L) is 0.10%, while Invesco FTSE All-World UCITS ETF USD Dist (FTWG.L) has a volatility of 3.43%. This indicates that TREI.L experiences smaller price fluctuations and is considered to be less risky than FTWG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TREI.L	FTWG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.10%	3.43%	-3.33%
Volatility (6M) Calculated over the trailing 6-month period	0.50%	9.88%	-9.38%
Volatility (1Y) Calculated over the trailing 1-year period	0.59%	12.26%	-11.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.55%	17.60%	-17.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.56%	17.60%	-17.04%

TREI.L vs. FTWG.L - Expense Ratio Comparison

TREI.L has a 0.06% expense ratio, which is lower than FTWG.L'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

TREI.L vs. FTWG.L - Dividend Comparison

TREI.L's dividend yield for the trailing twelve months is around 3.92%, more than FTWG.L's 1.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FTWG.L Invesco FTSE All-World UCITS ETF USD Dist	1.26%	1.34%	1.50%	0.70%	0.00%	0.00%	0.00%
TREI.L Invesco US Treasury Bond 0-1 Year UCITS ETF	3.92%	4.23%	4.98%	4.59%	1.51%	0.10%	0.69%

Frequently Asked Questions

Can I hold both TREI.L and FTWG.L in my portfolio?

TREI.L and FTWG.L have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TREI.L or FTWG.L?

On fees, TREI.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TREI.L or FTWG.L?

TREI.L is cheaper with a 0.06% expense ratio, compared with 0.15% for FTWG.L.

What is the main difference between TREI.L and FTWG.L?

TREI.L is categorized as Government Bonds, while FTWG.L is Global Equities. TREI.L tracks Invesco US Treasury Bond 0-1 Year UCITS ETF, while FTWG.L tracks FTSE All-World Index. Their fees differ too: 0.06% for TREI.L and 0.15% for FTWG.L.