TRFE.DE vs. FWEA.DE
TRFE.DE (Invesco US Treasury Bond UCITS ETF EUR Hdg Dist) and FWEA.DE (Invesco FTSE All-World UCITS ETF EUR PfHdg Acc) are both exchange-traded funds - TRFE.DE is a Government Bonds fund tracking the Bloomberg U.S. Treasury Total Return Index, while FWEA.DE is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past 3 years, TRFE.DE returned 1.17%/yr vs 17.71%/yr for FWEA.DE. At a 0.13 correlation, their price movements are largely independent. TRFE.DE charges 0.10%/yr vs 0.20%/yr for FWEA.DE.
Performance
TRFE.DE vs. FWEA.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 FWEA.DE's 10.02% return.
TRFE.DE
- 1D
- -0.16%
- 1M
- 0.24%
- 6M
- -0.59%
- YTD
- -1.24%
- 1Y
- 1.02%
- 3Y*
- 1.17%
- 5Y*
- —
- 10Y*
- —
FWEA.DE
- 1D
- 0.00%
- 1M
- -0.80%
- 6M
- 10.26%
- YTD
- 10.02%
- 1Y
- 21.71%
- 3Y*
- 17.71%
- 5Y*
- —
- 10Y*
- —
TRFE.DE vs. FWEA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
TRFE.DE Invesco US Treasury Bond UCITS ETF EUR Hdg Dist | -1.24% | 4.63% | -1.17% | 0.80% |
FWEA.DE Invesco FTSE All-World UCITS ETF EUR PfHdg Acc | 10.02% | 17.53% | 19.21% | 8.62% |
Correlation
The correlation between TRFE.DE and FWEA.DE is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2023 | 0.13 |
The correlation between TRFE.DE and FWEA.DE shifts across timeframes, from 0.13 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TRFE.DE vs. FWEA.DE — Risk / Return Rank
TRFE.DE
FWEA.DE
TRFE.DE vs. FWEA.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 Invesco FTSE All-World UCITS ETF EUR PfHdg Acc (FWEA.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 | FWEA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.57 | ||
| Sortino ratioReturn per unit of downside risk | -2.36 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.34 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.30 | 2.62 | -2.32 |
| Martin ratioReturn relative to average drawdown | 0.79 | 10.72 | -9.93 |
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Drawdowns
TRFE.DE vs. FWEA.DE - Drawdown Comparison
The maximum TRFE.DE drawdown since its inception was -17.11%, roughly equal to the maximum FWEA.DE drawdown of -17.48%. Use the drawdown chart below to compare losses from any high point for TRFE.DE and FWEA.DE.
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Drawdown Indicators
| TRFE.DE | FWEA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.11% | -17.48% | +0.37% |
Max Drawdown (1Y)Largest decline over 1 year | -3.40% | -8.28% | +4.88% |
Max Drawdown (3Y)Largest decline over 3 years | -5.46% | -17.48% | +12.02% |
Current DrawdownCurrent decline from peak | -9.71% | -1.37% | -8.34% |
Average DrawdownAverage peak-to-trough decline | -10.82% | -1.86% | -8.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.29% | 2.03% | -0.74% |
Volatility
TRFE.DE vs. FWEA.DE - Volatility Comparison
The current volatility for Invesco US Treasury Bond UCITS ETF EUR Hdg Dist (TRFE.DE) is 0.87%, while Invesco FTSE All-World UCITS ETF EUR PfHdg Acc (FWEA.DE) has a volatility of 3.88%. This indicates that TRFE.DE experiences smaller price fluctuations and is considered to be less risky than FWEA.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 | FWEA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 3.88% | -3.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 9.49% | -6.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.98% | 11.88% | -7.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.23% | 12.75% | -1.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.23% | 12.75% | -1.52% |
TRFE.DE vs. FWEA.DE - Expense Ratio Comparison
TRFE.DE has a 0.10% expense ratio, which is lower than FWEA.DE's 0.20% 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
TRFE.DE vs. FWEA.DE - Dividend Comparison
TRFE.DE's dividend yield for the trailing twelve months is around 4.27%, while FWEA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
FWEA.DE Invesco FTSE All-World UCITS ETF EUR PfHdg 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 FWEA.DE have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRFE.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRFE.DE is cheaper with a 0.10% expense ratio, compared with 0.20% for FWEA.DE.
TRFE.DE is categorized as Government Bonds, while FWEA.DE is Global Equities. TRFE.DE tracks Bloomberg U.S. Treasury Total Return Index, while FWEA.DE tracks FTSE All-World Index. Their fees differ too: 0.10% for TRFE.DE and 0.20% for FWEA.DE.
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