TREX.L vs. SXRM.DE
TREX.L (Invesco US Treasury Bond 7-10 Year UCITS ETF Dist) and SXRM.DE (iShares USD Treasury Bond 7-10yr UCITS ETF (Acc)) are both Government Bonds funds - TREX.L tracks the Bloomberg US 7-10 Year Treasury Bond Index while SXRM.DE tracks the ICE US Treasury 7-10 Year. Both are passively managed. Over the past 5 years, TREX.L returned -1.05%/yr vs -1.07%/yr for SXRM.DE. With a 0.96 correlation, they move nearly in lockstep. TREX.L charges 0.06%/yr vs 0.07%/yr for SXRM.DE.
Performance
TREX.L vs. SXRM.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TREX.L achieves a -0.74% return, which is significantly lower than SXRM.DE's -0.59% return.
TREX.L
- 1D
- 0.40%
- 1M
- 0.12%
- YTD
- -0.74%
- 6M
- -0.02%
- 1Y
- 4.21%
- 3Y*
- 2.99%
- 5Y*
- -1.05%
- 10Y*
- —
SXRM.DE
- 1D
- 0.38%
- 1M
- 0.09%
- YTD
- -0.59%
- 6M
- 0.05%
- 1Y
- 4.19%
- 3Y*
- 2.95%
- 5Y*
- -1.07%
- 10Y*
- 0.67%
TREX.L vs. SXRM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TREX.L Invesco US Treasury Bond 7-10 Year UCITS ETF Dist | -0.74% | 8.41% | -0.22% | 3.58% | -14.94% | -3.02% | 9.76% | 8.50% |
SXRM.DE iShares USD Treasury Bond 7-10yr UCITS ETF (Acc) | -0.59% | 8.56% | -0.51% | 3.57% | -14.86% | -3.03% | 9.73% | 8.49% |
Correlation
The correlation between TREX.L and SXRM.DE is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2019 | 0.96 |
The correlation between TREX.L and SXRM.DE has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TREX.L vs. SXRM.DE — Risk / Return Rank
TREX.L
SXRM.DE
TREX.L vs. SXRM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco US Treasury Bond 7-10 Year UCITS ETF Dist (TREX.L) and iShares USD Treasury Bond 7-10yr UCITS ETF (Acc) (SXRM.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.
| TREX.L | SXRM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.14 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.96 | 0.93 | +0.03 |
| Martin ratioReturn relative to average drawdown | 2.81 | 2.74 | +0.07 |
Loading charts...
Drawdowns
TREX.L vs. SXRM.DE - Drawdown Comparison
The maximum TREX.L drawdown since its inception was -23.38%, roughly equal to the maximum SXRM.DE drawdown of -23.31%. Use the drawdown chart below to compare losses from any high point for TREX.L and SXRM.DE.
Loading charts...
Drawdown Indicators
| TREX.L | SXRM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.38% | -23.31% | -0.07% |
Max Drawdown (1Y)Largest decline over 1 year | -3.96% | -4.02% | +0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -7.42% | -7.24% | -0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -20.96% | -20.90% | -0.06% |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.31% | — |
Current DrawdownCurrent decline from peak | -10.23% | -10.34% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -9.96% | -6.45% | -3.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.36% | 1.37% | -0.01% |
Volatility
TREX.L vs. SXRM.DE - Volatility Comparison
Invesco US Treasury Bond 7-10 Year UCITS ETF Dist (TREX.L) and iShares USD Treasury Bond 7-10yr UCITS ETF (Acc) (SXRM.DE) have volatilities of 1.82% and 1.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TREX.L | SXRM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.82% | 1.86% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 3.34% | 3.41% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.50% | 4.60% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.49% | 7.38% | +0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.93% | 6.30% | +0.63% |
TREX.L vs. SXRM.DE - Expense Ratio Comparison
TREX.L has a 0.06% expense ratio, which is lower than SXRM.DE'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
TREX.L vs. SXRM.DE - Dividend Comparison
TREX.L's dividend yield for the trailing twelve months is around 4.33%, while SXRM.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
SXRM.DE iShares USD Treasury Bond 7-10yr UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TREX.L Invesco US Treasury Bond 7-10 Year UCITS ETF Dist | 4.33% | 4.23% | 4.34% | 3.48% | 2.41% | 1.63% | 1.81% | 2.02% |
Frequently Asked Questions
With a correlation of 0.93, TREX.L and SXRM.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.
On fees, TREX.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TREX.L is cheaper with a 0.06% expense ratio, compared with 0.07% for SXRM.DE.
TREX.L tracks Bloomberg US 7-10 Year Treasury Bond Index, while SXRM.DE tracks ICE US Treasury 7-10 Year. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.06% for TREX.L and 0.07% for SXRM.DE.
Find the right allocation for TREX.L and SXRM.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer