TRGB.L vs. FTWG.L
TRGB.L (Invesco US Treasury Bond UCITS ETF GBP Hdg Dist) and FTWG.L (Invesco FTSE All-World UCITS ETF USD Dist) are both exchange-traded funds - TRGB.L is a Government Bonds fund tracking the Invesco US Treasury Bond UCITS ETF GBP Hdg Dist, while FTWG.L is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past 3 years, TRGB.L returned 2.22%/yr vs 17.94%/yr for FTWG.L. At a 0.06 correlation, their price movements are largely independent. TRGB.L charges 0.10%/yr vs 0.15%/yr for FTWG.L.
Performance
TRGB.L vs. FTWG.L - Performance Comparison
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Returns By Period
In the year-to-date period, TRGB.L achieves a -0.41% return, which is significantly lower than FTWG.L's 10.82% return.
TRGB.L
- 1D
- 0.05%
- 1M
- -0.22%
- 6M
- -0.42%
- YTD
- -0.41%
- 1Y
- 2.50%
- 3Y*
- 2.22%
- 5Y*
- -1.49%
- 10Y*
- —
FTWG.L
- 1D
- -0.68%
- 1M
- -1.15%
- 6M
- 9.12%
- YTD
- 10.82%
- 1Y
- 22.80%
- 3Y*
- 17.94%
- 5Y*
- —
- 10Y*
- —
TRGB.L vs. FTWG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
TRGB.L Invesco US Treasury Bond UCITS ETF GBP Hdg Dist | -0.41% | 4.97% | 0.47% | 1.57% |
FTWG.L Invesco FTSE All-World UCITS ETF USD Dist | 10.82% | 14.12% | 19.92% | -13.67% |
Correlation
The correlation between TRGB.L and FTWG.L is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2023 | 0.06 |
The correlation between TRGB.L and FTWG.L shifts across timeframes, from 0.06 (3 years) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TRGB.L vs. FTWG.L — Risk / Return Rank
TRGB.L
FTWG.L
TRGB.L vs. FTWG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco US Treasury Bond UCITS ETF GBP Hdg Dist (TRGB.L) and Invesco FTSE All-World UCITS ETF USD Dist (FTWG.L). 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.
| TRGB.L | FTWG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.40 | ||
| Sortino ratioReturn per unit of downside risk | -1.92 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.39 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 3.19 | -2.36 |
| Martin ratioReturn relative to average drawdown | 1.99 | 12.44 | -10.45 |
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Drawdowns
TRGB.L vs. FTWG.L - Drawdown Comparison
The maximum TRGB.L drawdown since its inception was -20.75%, smaller than the maximum FTWG.L drawdown of -22.14%. Use the drawdown chart below to compare losses from any high point for TRGB.L and FTWG.L.
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Drawdown Indicators
| TRGB.L | FTWG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.75% | -22.14% | +1.39% |
Max Drawdown (1Y)Largest decline over 1 year | -2.99% | -7.11% | +4.12% |
Max Drawdown (3Y)Largest decline over 3 years | -5.22% | -17.78% | +12.56% |
Max Drawdown (5Y)Largest decline over 5 years | -18.24% | — | — |
Current DrawdownCurrent decline from peak | -10.85% | -1.99% | -8.86% |
Average DrawdownAverage peak-to-trough decline | -9.81% | -6.53% | -3.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 1.83% | -0.58% |
Volatility
TRGB.L vs. FTWG.L - Volatility Comparison
The current volatility for Invesco US Treasury Bond UCITS ETF GBP Hdg Dist (TRGB.L) is 0.95%, while Invesco FTSE All-World UCITS ETF USD Dist (FTWG.L) has a volatility of 3.21%. This indicates that TRGB.L experiences smaller price fluctuations and is considered to be less risky than FTWG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRGB.L | FTWG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 3.21% | -2.26% |
Volatility (6M)Calculated over the trailing 6-month period | 2.56% | 8.46% | -5.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.67% | 10.88% | -7.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.64% | 16.63% | -10.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.41% | 16.63% | -11.22% |
TRGB.L vs. FTWG.L - Expense Ratio Comparison
TRGB.L has a 0.10% expense ratio, which is lower than FTWG.L's 0.15% 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
TRGB.L vs. FTWG.L - Dividend Comparison
TRGB.L's dividend yield for the trailing twelve months is around 3.19%, more than FTWG.L's 1.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FTWG.L Invesco FTSE All-World UCITS ETF USD Dist | 1.26% | 1.34% | 1.50% | 0.70% | 0.00% | 0.00% | 0.00% | 0.00% |
TRGB.L Invesco US Treasury Bond UCITS ETF GBP Hdg Dist | 3.19% | 3.05% | 4.21% | 3.73% | 1.95% | 1.10% | 1.53% | 0.81% |
Frequently Asked Questions
TRGB.L and FTWG.L have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRGB.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRGB.L is cheaper with a 0.10% expense ratio, compared with 0.15% for FTWG.L.
TRGB.L is categorized as Government Bonds, while FTWG.L is Global Equities. TRGB.L tracks Invesco US Treasury Bond UCITS ETF GBP Hdg Dist, while FTWG.L tracks FTSE All-World Index. Their fees differ too: 0.10% for TRGB.L and 0.15% for FTWG.L.
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