TRFE.DE vs. IQSA.DE
TRFE.DE (Invesco US Treasury Bond UCITS ETF EUR Hdg Dist) and IQSA.DE (Invesco Global Active ESG Equity UCITS ETF USD Acc) are both exchange-traded funds - TRFE.DE is a Government Bonds fund tracking the Bloomberg U.S. Treasury Total Return Index, while IQSA.DE is a Global Equities fund actively managed by Invesco. TRFE.DE is passively managed, while IQSA.DE is actively managed. Over the past 3 years, TRFE.DE returned 1.17%/yr vs 21.64%/yr for IQSA.DE. At a correlation of -0.01, they often move in opposite directions. TRFE.DE charges 0.10%/yr vs 0.30%/yr for IQSA.DE.
Performance
TRFE.DE vs. IQSA.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 IQSA.DE's 18.17% return.
TRFE.DE
- 1D
- -0.16%
- 1M
- 0.24%
- 6M
- -0.59%
- YTD
- -1.24%
- 1Y
- 1.02%
- 3Y*
- 1.17%
- 5Y*
- —
- 10Y*
- —
IQSA.DE
- 1D
- 0.41%
- 1M
- 2.82%
- 6M
- 18.46%
- YTD
- 18.17%
- 1Y
- 32.16%
- 3Y*
- 21.64%
- 5Y*
- 15.34%
- 10Y*
- —
TRFE.DE vs. IQSA.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% |
IQSA.DE Invesco Global Active ESG Equity UCITS ETF USD Acc | 18.17% | 9.64% | 29.92% | 20.23% | -6.08% |
Correlation
The correlation between TRFE.DE and IQSA.DE is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2022 | -0.01 |
The correlation between TRFE.DE and IQSA.DE shifts across timeframes, from -0.01 (all time) to 0.16 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TRFE.DE vs. IQSA.DE — Risk / Return Rank
TRFE.DE
IQSA.DE
TRFE.DE vs. IQSA.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 Global Active ESG Equity UCITS ETF USD Acc (IQSA.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 | IQSA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.32 | ||
| Sortino ratioReturn per unit of downside risk | -3.30 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.47 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | 0.30 | 5.16 | -4.87 |
| Martin ratioReturn relative to average drawdown | 0.79 | 21.31 | -20.52 |
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Drawdowns
TRFE.DE vs. IQSA.DE - Drawdown Comparison
The maximum TRFE.DE drawdown since its inception was -17.11%, smaller than the maximum IQSA.DE drawdown of -34.12%. Use the drawdown chart below to compare losses from any high point for TRFE.DE and IQSA.DE.
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Drawdown Indicators
| TRFE.DE | IQSA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.11% | -34.12% | +17.01% |
Max Drawdown (1Y)Largest decline over 1 year | -3.40% | -6.20% | +2.80% |
Max Drawdown (3Y)Largest decline over 3 years | -5.46% | -21.35% | +15.89% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.35% | — |
Current DrawdownCurrent decline from peak | -9.71% | -0.65% | -9.06% |
Average DrawdownAverage peak-to-trough decline | -10.82% | -4.76% | -6.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.29% | 1.51% | -0.22% |
Volatility
TRFE.DE vs. IQSA.DE - Volatility Comparison
The current volatility for Invesco US Treasury Bond UCITS ETF EUR Hdg Dist (TRFE.DE) is 0.87%, while Invesco Global Active ESG Equity UCITS ETF USD Acc (IQSA.DE) has a volatility of 3.46%. This indicates that TRFE.DE experiences smaller price fluctuations and is considered to be less risky than IQSA.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 | IQSA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 3.46% | -2.59% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 9.12% | -6.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.98% | 12.47% | -8.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.23% | 14.76% | -3.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.23% | 17.21% | -5.98% |
TRFE.DE vs. IQSA.DE - Expense Ratio Comparison
TRFE.DE has a 0.10% expense ratio, which is lower than IQSA.DE's 0.30% expense ratio.
Dividends
TRFE.DE vs. IQSA.DE - Dividend Comparison
TRFE.DE's dividend yield for the trailing twelve months is around 4.27%, while IQSA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
IQSA.DE Invesco Global Active ESG Equity UCITS ETF USD 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 IQSA.DE have a correlation of 0.16, 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 0.30% for IQSA.DE.
TRFE.DE is categorized as Government Bonds, while IQSA.DE is Global Equities. Their fees differ too: 0.10% for TRFE.DE and 0.30% for IQSA.DE.
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