TRIA.L vs. IB01.L
TRIA.L (Invesco US Treasury Bond 0-1 Year UCITS ETF) and IB01.L (iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)) are both Government Bonds funds - TRIA.L tracks the Invesco US Treasury Bond 0-1 Year UCITS ETF while IB01.L tracks the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 5 years, TRIA.L returned 3.35%/yr vs 3.29%/yr for IB01.L. At a 0.37 correlation, their price movements are largely independent. TRIA.L charges 0.06%/yr vs 0.07%/yr for IB01.L.
Performance
TRIA.L vs. IB01.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with TRIA.L having a 1.88% return and IB01.L slightly lower at 1.83%.
TRIA.L
- 1D
- 0.05%
- 1M
- 0.34%
- 6M
- 1.77%
- YTD
- 1.88%
- 1Y
- 4.06%
- 3Y*
- 4.67%
- 5Y*
- 3.35%
- 10Y*
- —
IB01.L
- 1D
- 0.00%
- 1M
- 0.27%
- 6M
- 1.77%
- YTD
- 1.83%
- 1Y
- 3.90%
- 3Y*
- 4.66%
- 5Y*
- 3.29%
- 10Y*
- —
TRIA.L vs. IB01.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TRIA.L Invesco US Treasury Bond 0-1 Year UCITS ETF | 1.88% | 4.33% | 5.17% | 4.97% | 0.53% | -0.00% | 1.10% |
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) | 1.83% | 4.34% | 5.25% | 4.92% | 1.08% | -0.85% | 0.82% |
Correlation
The correlation between TRIA.L and IB01.L is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2020 | 0.37 |
The correlation between TRIA.L and IB01.L shifts across timeframes, from 0.27 (1 year) to 0.40 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TRIA.L vs. IB01.L — Risk / Return Rank
TRIA.L
IB01.L
TRIA.L vs. IB01.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco US Treasury Bond 0-1 Year UCITS ETF (TRIA.L) and iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.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.
| TRIA.L | IB01.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -9.94 | ||
| Sortino ratioReturn per unit of downside risk | -34.52 | ||
| Omega ratioGain probability vs. loss probability | 2.44 | 8.35 | -5.91 |
| Calmar ratioReturn relative to maximum drawdown | 3.28 | 114.58 | -111.30 |
| Martin ratioReturn relative to average drawdown | 9.26 | 560.87 | -551.61 |
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Drawdowns
TRIA.L vs. IB01.L - Drawdown Comparison
The maximum TRIA.L drawdown since its inception was -1.22%, roughly equal to the maximum IB01.L drawdown of -1.28%. Use the drawdown chart below to compare losses from any high point for TRIA.L and IB01.L.
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Drawdown Indicators
| TRIA.L | IB01.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.22% | -1.28% | +0.06% |
Max Drawdown (1Y)Largest decline over 1 year | -1.22% | -0.03% | -1.19% |
Max Drawdown (3Y)Largest decline over 3 years | -1.22% | -0.09% | -1.13% |
Max Drawdown (5Y)Largest decline over 5 years | -1.22% | -1.12% | -0.10% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.09% | -0.23% | +0.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.01% | +0.42% |
Volatility
TRIA.L vs. IB01.L - Volatility Comparison
Invesco US Treasury Bond 0-1 Year UCITS ETF (TRIA.L) has a higher volatility of 0.13% compared to iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L) at 0.08%. This indicates that TRIA.L's price experiences larger fluctuations and is considered to be riskier than IB01.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRIA.L | IB01.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.13% | 0.08% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 1.99% | 0.22% | +1.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.01% | 0.33% | +1.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.01% | 0.54% | +0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.93% | 0.78% | +0.15% |
TRIA.L vs. IB01.L - Expense Ratio Comparison
TRIA.L has a 0.06% expense ratio, which is lower than IB01.L's 0.07% 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
TRIA.L vs. IB01.L - Dividend Comparison
Neither TRIA.L nor IB01.L has paid dividends to shareholders.
Frequently Asked Questions
TRIA.L and IB01.L have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRIA.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRIA.L is cheaper with a 0.06% expense ratio, compared with 0.07% for IB01.L.
TRIA.L tracks Invesco US Treasury Bond 0-1 Year UCITS ETF, while IB01.L tracks ICE U.S. Treasury Short Bond Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.06% for TRIA.L and 0.07% for IB01.L.
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