TRFE.DE vs. T1EU.DE
TRFE.DE (Invesco US Treasury Bond UCITS ETF EUR Hdg Dist) and T1EU.DE (Invesco US Treasury Bond 0-1 Year UCITS ETF EUR Hdg Acc) are both Government Bonds funds from Invesco - TRFE.DE tracks the Bloomberg U.S. Treasury Total Return Index while T1EU.DE tracks the Bloomberg US Treasury Coupons Index. Both are passively managed. Over the past 3 years, TRFE.DE returned 1.17%/yr vs 2.74%/yr for T1EU.DE. At a 0.30 correlation, their price movements are largely independent. Both charge a 0.10% expense ratio.
Performance
TRFE.DE vs. T1EU.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 T1EU.DE's 0.83% return.
TRFE.DE
- 1D
- -0.16%
- 1M
- 0.24%
- 6M
- -0.59%
- YTD
- -1.24%
- 1Y
- 1.02%
- 3Y*
- 1.17%
- 5Y*
- —
- 10Y*
- —
T1EU.DE
- 1D
- 0.02%
- 1M
- 0.18%
- 6M
- 0.74%
- YTD
- 0.83%
- 1Y
- 1.84%
- 3Y*
- 2.74%
- 5Y*
- 1.40%
- 10Y*
- —
TRFE.DE vs. T1EU.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% |
T1EU.DE Invesco US Treasury Bond 0-1 Year UCITS ETF EUR Hdg Acc | 0.83% | 2.00% | 3.48% | 2.83% | -1.38% |
Correlation
The correlation between TRFE.DE and T1EU.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 | 0.24 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2022 | 0.30 |
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Return for Risk
TRFE.DE vs. T1EU.DE — Risk / Return Rank
TRFE.DE
T1EU.DE
TRFE.DE vs. T1EU.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 US Treasury Bond 0-1 Year UCITS ETF EUR Hdg Acc (T1EU.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 | T1EU.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.01 | ||
| Sortino ratioReturn per unit of downside risk | -1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.35 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.30 | 3.62 | -3.32 |
| Martin ratioReturn relative to average drawdown | 0.79 | 17.64 | -16.85 |
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Drawdowns
TRFE.DE vs. T1EU.DE - Drawdown Comparison
The maximum TRFE.DE drawdown since its inception was -17.11%, which is greater than T1EU.DE's maximum drawdown of -3.20%. Use the drawdown chart below to compare losses from any high point for TRFE.DE and T1EU.DE.
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Drawdown Indicators
| TRFE.DE | T1EU.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.11% | -3.20% | -13.91% |
Max Drawdown (1Y)Largest decline over 1 year | -3.40% | -0.51% | -2.89% |
Max Drawdown (3Y)Largest decline over 3 years | -5.46% | -0.51% | -4.95% |
Max Drawdown (5Y)Largest decline over 5 years | — | -2.36% | — |
Current DrawdownCurrent decline from peak | -9.71% | 0.00% | -9.71% |
Average DrawdownAverage peak-to-trough decline | -10.82% | -0.86% | -9.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.29% | 0.10% | +1.19% |
Volatility
TRFE.DE vs. T1EU.DE - Volatility Comparison
Invesco US Treasury Bond UCITS ETF EUR Hdg Dist (TRFE.DE) has a higher volatility of 0.87% compared to Invesco US Treasury Bond 0-1 Year UCITS ETF EUR Hdg Acc (T1EU.DE) at 0.10%. This indicates that TRFE.DE's price experiences larger fluctuations and is considered to be riskier than T1EU.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 | T1EU.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 0.10% | +0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 1.12% | +1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.98% | 1.45% | +2.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.23% | 0.80% | +10.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.23% | 0.73% | +10.50% |
TRFE.DE vs. T1EU.DE - Expense Ratio Comparison
Both TRFE.DE and T1EU.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. T1EU.DE - Dividend Comparison
TRFE.DE's dividend yield for the trailing twelve months is around 4.27%, while T1EU.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
T1EU.DE Invesco US Treasury Bond 0-1 Year UCITS ETF EUR Hdg Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.13% |
TRFE.DE Invesco US Treasury Bond UCITS ETF EUR Hdg Dist | 4.27% | 4.10% | 4.30% | 3.77% | 1.74% | 0.00% | 0.00% |
Frequently Asked Questions
TRFE.DE and T1EU.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.
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 T1EU.DE have the same expense ratio: 0.10% per year.
TRFE.DE tracks Bloomberg U.S. Treasury Total Return Index, while T1EU.DE tracks Bloomberg US Treasury Coupons Index.
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