TRFE.DE vs. 2B7S.DE
TRFE.DE (Invesco US Treasury Bond UCITS ETF EUR Hdg Dist) and 2B7S.DE (iShares $ Treasury Bond 1-3yr UCITS ETF EUR Hedged Acc) are both Government Bonds funds - TRFE.DE tracks the Bloomberg U.S. Treasury Total Return Index while 2B7S.DE tracks the ICE US Treasury 1-3 Year (EUR Hedged) Index. Both are passively managed. Over the past 3 years, TRFE.DE returned 1.17%/yr vs 2.48%/yr for 2B7S.DE. A 0.61 correlation means they provide meaningful diversification when combined. Both charge a 0.10% expense ratio.
Performance
TRFE.DE vs. 2B7S.DE - Performance Comparison
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Returns By Period
In the year-to-date period, TRFE.DE achieves a -1.24% return, which is significantly lower than 2B7S.DE's -0.20% return.
TRFE.DE
- 1D
- -0.16%
- 1M
- 0.24%
- 6M
- -0.59%
- YTD
- -1.24%
- 1Y
- 1.02%
- 3Y*
- 1.17%
- 5Y*
- —
- 10Y*
- —
2B7S.DE
- 1D
- 0.00%
- 1M
- 0.20%
- 6M
- -0.20%
- YTD
- -0.20%
- 1Y
- 1.20%
- 3Y*
- 2.48%
- 5Y*
- 0.04%
- 10Y*
- —
TRFE.DE vs. 2B7S.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TRFE.DE Invesco US Treasury Bond UCITS ETF EUR Hdg Dist | -1.24% | 4.63% | -1.17% | 1.55% | 4.74% |
2B7S.DE iShares $ Treasury Bond 1-3yr UCITS ETF EUR Hedged Acc | -0.20% | 3.04% | 2.49% | 1.90% | -5.02% |
Correlation
The correlation between TRFE.DE and 2B7S.DE is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2022 | 0.61 |
Over the past year, the correlation between TRFE.DE and 2B7S.DE has dropped to 0.27 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.
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Return for Risk
TRFE.DE vs. 2B7S.DE — Risk / Return Rank
TRFE.DE
2B7S.DE
TRFE.DE vs. 2B7S.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco US Treasury Bond UCITS ETF EUR Hdg Dist (TRFE.DE) and iShares $ Treasury Bond 1-3yr UCITS ETF EUR Hedged Acc (2B7S.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.
| TRFE.DE | 2B7S.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.11 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.30 | 1.22 | -0.92 |
| Martin ratioReturn relative to average drawdown | 0.79 | 3.01 | -2.22 |
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Drawdowns
TRFE.DE vs. 2B7S.DE - Drawdown Comparison
The maximum TRFE.DE drawdown since its inception was -17.11%, which is greater than 2B7S.DE's maximum drawdown of -7.68%. Use the drawdown chart below to compare losses from any high point for TRFE.DE and 2B7S.DE.
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Drawdown Indicators
| TRFE.DE | 2B7S.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.11% | -7.68% | -9.43% |
Max Drawdown (1Y)Largest decline over 1 year | -3.40% | -0.98% | -2.42% |
Max Drawdown (3Y)Largest decline over 3 years | -5.46% | -1.03% | -4.43% |
Max Drawdown (5Y)Largest decline over 5 years | — | -7.50% | — |
Current DrawdownCurrent decline from peak | -9.71% | -0.59% | -9.12% |
Average DrawdownAverage peak-to-trough decline | -10.82% | -3.25% | -7.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.29% | 0.40% | +0.89% |
Volatility
TRFE.DE vs. 2B7S.DE - Volatility Comparison
Invesco US Treasury Bond UCITS ETF EUR Hdg Dist (TRFE.DE) has a higher volatility of 0.87% compared to iShares $ Treasury Bond 1-3yr UCITS ETF EUR Hedged Acc (2B7S.DE) at 0.57%. This indicates that TRFE.DE's price experiences larger fluctuations and is considered to be riskier than 2B7S.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRFE.DE | 2B7S.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 0.57% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 1.99% | +0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.98% | 2.50% | +1.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.23% | 2.51% | +8.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.23% | 2.45% | +8.78% |
TRFE.DE vs. 2B7S.DE - Expense Ratio Comparison
Both TRFE.DE and 2B7S.DE have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
TRFE.DE vs. 2B7S.DE - Dividend Comparison
TRFE.DE's dividend yield for the trailing twelve months is around 4.27%, while 2B7S.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
2B7S.DE iShares $ Treasury Bond 1-3yr UCITS ETF EUR Hedged Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TRFE.DE Invesco US Treasury Bond UCITS ETF EUR Hdg Dist | 4.27% | 4.10% | 4.30% | 3.77% | 1.74% |
Frequently Asked Questions
TRFE.DE and 2B7S.DE have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
TRFE.DE and 2B7S.DE have the same expense ratio: 0.10% per year.
TRFE.DE tracks Bloomberg U.S. Treasury Total Return Index, while 2B7S.DE tracks ICE US Treasury 1-3 Year (EUR Hedged) Index. They also come from different issuers: Invesco and iShares.
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