TREI.L vs. IB01.L
TREI.L (Invesco US Treasury Bond 0-1 Year UCITS ETF) and IB01.L (iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)) are both Government Bonds funds - TREI.L tracks the Invesco US Treasury Bond 0-1 Year UCITS ETF while IB01.L tracks the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 5 years, TREI.L returned 3.32%/yr vs 3.29%/yr for IB01.L. At a 0.39 correlation, their price movements are largely independent. TREI.L charges 0.06%/yr vs 0.07%/yr for IB01.L.
Performance
TREI.L vs. IB01.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with TREI.L having a 1.77% return and IB01.L slightly higher at 1.83%.
TREI.L
- 1D
- 0.00%
- 1M
- 0.22%
- 6M
- 1.65%
- YTD
- 1.77%
- 1Y
- 3.91%
- 3Y*
- 4.63%
- 5Y*
- 3.32%
- 10Y*
- —
IB01.L
- 1D
- 0.00%
- 1M
- 0.27%
- 6M
- 1.77%
- YTD
- 1.83%
- 1Y
- 3.90%
- 3Y*
- 4.66%
- 5Y*
- 3.29%
- 10Y*
- —
TREI.L vs. IB01.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TREI.L Invesco US Treasury Bond 0-1 Year UCITS ETF | 1.77% | 4.31% | 5.17% | 4.98% | 0.53% | -0.02% | 1.12% |
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) | 1.83% | 4.34% | 5.25% | 4.92% | 1.08% | -0.85% | 0.82% |
Correlation
The correlation between TREI.L and IB01.L is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2020 | 0.39 |
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Return for Risk
TREI.L vs. IB01.L — Risk / Return Rank
TREI.L
IB01.L
TREI.L vs. IB01.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 iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.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 | IB01.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.36 | ||
| Sortino ratioReturn per unit of downside risk | -26.45 | ||
| Omega ratioGain probability vs. loss probability | 4.71 | 8.35 | -3.63 |
| Calmar ratioReturn relative to maximum drawdown | 13.21 | 114.58 | -101.36 |
| Martin ratioReturn relative to average drawdown | 159.95 | 560.87 | -400.92 |
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Drawdowns
TREI.L vs. IB01.L - Drawdown Comparison
The maximum TREI.L drawdown since its inception was -0.68%, smaller than the maximum IB01.L drawdown of -1.28%. Use the drawdown chart below to compare losses from any high point for TREI.L and IB01.L.
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Drawdown Indicators
| TREI.L | IB01.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.68% | -1.28% | +0.60% |
Max Drawdown (1Y)Largest decline over 1 year | -0.29% | -0.03% | -0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -0.29% | -0.09% | -0.20% |
Max Drawdown (5Y)Largest decline over 5 years | -0.67% | -1.12% | +0.45% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.06% | -0.23% | +0.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.01% | +0.01% |
Volatility
TREI.L vs. IB01.L - Volatility Comparison
Invesco US Treasury Bond 0-1 Year UCITS ETF (TREI.L) has a higher volatility of 0.10% compared to iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L) at 0.08%. This indicates that TREI.L's price experiences larger fluctuations and is considered to be riskier than IB01.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TREI.L | IB01.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.10% | 0.08% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 0.50% | 0.22% | +0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.59% | 0.33% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.55% | 0.54% | +0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.56% | 0.78% | -0.22% |
TREI.L vs. IB01.L - Expense Ratio Comparison
TREI.L has a 0.06% expense ratio, which is lower than IB01.L's 0.07% 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. IB01.L - Dividend Comparison
TREI.L's dividend yield for the trailing twelve months is around 3.92%, while IB01.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 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
TREI.L and IB01.L have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
TREI.L is cheaper with a 0.06% expense ratio, compared with 0.07% for IB01.L.
TREI.L tracks Invesco US Treasury Bond 0-1 Year UCITS ETF, while IB01.L tracks ICE U.S. Treasury Short Bond Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.06% for TREI.L and 0.07% for IB01.L.
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