TRFE.DE vs. EUN6.DE
TRFE.DE (Invesco US Treasury Bond UCITS ETF EUR Hdg Dist) and EUN6.DE (iShares € Govt Bond 0-1yr UCITS ETF EUR (Dist)) are both Government Bonds funds - TRFE.DE tracks the Bloomberg U.S. Treasury Total Return Index while EUN6.DE tracks the Bloomberg Euro Short Treasury (0-12 Month) Bond Index. Both are passively managed. Over the past 3 years, TRFE.DE returned 1.17%/yr vs 2.83%/yr for EUN6.DE. At a 0.20 correlation, their price movements are largely independent. TRFE.DE charges 0.10%/yr vs 0.07%/yr for EUN6.DE.
Performance
TRFE.DE vs. EUN6.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 EUN6.DE's 1.02% return.
TRFE.DE
- 1D
- -0.16%
- 1M
- 0.24%
- 6M
- -0.59%
- YTD
- -1.24%
- 1Y
- 1.02%
- 3Y*
- 1.17%
- 5Y*
- —
- 10Y*
- —
EUN6.DE
- 1D
- -0.01%
- 1M
- 0.23%
- 6M
- 0.95%
- YTD
- 1.02%
- 1Y
- 1.89%
- 3Y*
- 2.83%
- 5Y*
- 1.62%
- 10Y*
- 0.49%
TRFE.DE vs. EUN6.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% |
EUN6.DE iShares € Govt Bond 0-1yr UCITS ETF EUR (Dist) | 1.02% | 2.16% | 3.57% | 2.74% | -0.84% |
Correlation
The correlation between TRFE.DE and EUN6.DE is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2022 | 0.20 |
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Return for Risk
TRFE.DE vs. EUN6.DE — Risk / Return Rank
TRFE.DE
EUN6.DE
TRFE.DE vs. EUN6.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 € Govt Bond 0-1yr UCITS ETF EUR (Dist) (EUN6.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 | EUN6.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.66 | ||
| Sortino ratioReturn per unit of downside risk | -4.21 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.98 | -0.93 |
| Calmar ratioReturn relative to maximum drawdown | 0.30 | 5.84 | -5.54 |
| Martin ratioReturn relative to average drawdown | 0.79 | 22.30 | -21.51 |
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Drawdowns
TRFE.DE vs. EUN6.DE - Drawdown Comparison
The maximum TRFE.DE drawdown since its inception was -17.11%, which is greater than EUN6.DE's maximum drawdown of -4.94%. Use the drawdown chart below to compare losses from any high point for TRFE.DE and EUN6.DE.
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Drawdown Indicators
| TRFE.DE | EUN6.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.11% | -4.94% | -12.17% |
Max Drawdown (1Y)Largest decline over 1 year | -3.40% | -0.32% | -3.08% |
Max Drawdown (3Y)Largest decline over 3 years | -5.46% | -0.77% | -4.69% |
Max Drawdown (5Y)Largest decline over 5 years | — | -1.49% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -4.54% | — |
Current DrawdownCurrent decline from peak | -9.71% | -0.08% | -9.63% |
Average DrawdownAverage peak-to-trough decline | -10.82% | -1.31% | -9.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.29% | 0.08% | +1.21% |
Volatility
TRFE.DE vs. EUN6.DE - Volatility Comparison
Invesco US Treasury Bond UCITS ETF EUR Hdg Dist (TRFE.DE) has a higher volatility of 0.87% compared to iShares € Govt Bond 0-1yr UCITS ETF EUR (Dist) (EUN6.DE) at 0.09%. This indicates that TRFE.DE's price experiences larger fluctuations and is considered to be riskier than EUN6.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 | EUN6.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 0.09% | +0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 0.57% | +2.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.98% | 0.64% | +3.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.23% | 0.67% | +10.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.23% | 0.63% | +10.60% |
TRFE.DE vs. EUN6.DE - Expense Ratio Comparison
TRFE.DE has a 0.10% expense ratio, which is higher than EUN6.DE's 0.07% 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
TRFE.DE vs. EUN6.DE - Dividend Comparison
TRFE.DE's dividend yield for the trailing twelve months is around 4.27%, more than EUN6.DE's 2.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
EUN6.DE iShares € Govt Bond 0-1yr UCITS ETF EUR (Dist) | 2.19% | 2.79% | 2.18% | 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 EUN6.DE have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUN6.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUN6.DE is cheaper with a 0.07% expense ratio, compared with 0.10% for TRFE.DE.
TRFE.DE tracks Bloomberg U.S. Treasury Total Return Index, while EUN6.DE tracks Bloomberg Euro Short Treasury (0-12 Month) Bond Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.10% for TRFE.DE and 0.07% for EUN6.DE.
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