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TRIA.L vs. TREI.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TRIA.L vs. TREI.L

Last updated Jul 16, 2026
Documentation

TRIA.L (Invesco US Treasury Bond 0-1 Year UCITS ETF) and TREI.L (Invesco US Treasury Bond 0-1 Year UCITS ETF) are both Government Bonds funds from Invesco tracking the Invesco US Treasury Bond 0-1 Year UCITS ETF. Both are passively managed. Over the past 5 years, TRIA.L returned 3.35%/yr vs 3.32%/yr for TREI.L. A 0.61 correlation means they provide meaningful diversification when combined. Both charge a 0.06% expense ratio.

Performance

TRIA.L vs. TREI.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco US Treasury Bond 0-1 Year UCITS ETF (TRIA.L) and Invesco US Treasury Bond 0-1 Year UCITS ETF (TREI.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TRIA.L achieves a 1.88% return, which is significantly higher than TREI.L's 1.77% return.

TRIA.L

1D
0.05%
1M
0.34%
6M
1.77%
YTD
1.88%
1Y
4.06%
3Y*
4.67%
5Y*
3.35%
10Y*
—

TREI.L

1D
0.00%
1M
0.22%
6M
1.65%
YTD
1.77%
1Y
3.91%
3Y*
4.63%
5Y*
3.32%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

TRIA.L vs. TREI.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
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%
TREI.L
Invesco US Treasury Bond 0-1 Year UCITS ETF		1.77%4.31%5.17%4.98%0.53%-0.02%1.12%

Correlation

The correlation between TRIA.L and TREI.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.40

Correlation (3Y)
Calculated over the trailing 3-year period

0.50

Correlation (5Y)
Calculated over the trailing 5-year period

0.59

Correlation (All Time)
Calculated using the full available price history since Jan 21, 2020

0.61

Over the past year, the correlation between TRIA.L and TREI.L has dropped to 0.40 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.

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Invesco US Treasury Bond 0-1 Year UCITS ETF

Invesco US Treasury Bond 0-1 Year UCITS ETF

Return for Risk

TRIA.L vs. TREI.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TRIA.L
TRIA.L Risk / Return Rank: 8080
Overall Rank
TRIA.L Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
TRIA.L Sortino Ratio Rank: 8080
Sortino Ratio Rank
TRIA.L Omega Ratio Rank: 9898
Omega Ratio Rank
TRIA.L Calmar Ratio Rank: 7979
Calmar Ratio Rank
TRIA.L Martin Ratio Rank: 6565
Martin Ratio Rank
TREI.L
TREI.L Risk / Return Rank: 9999
Overall Rank
TREI.L Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
TREI.L Sortino Ratio Rank: 9999
Sortino Ratio Rank
TREI.L Omega Ratio Rank: 9999
Omega Ratio Rank
TREI.L Calmar Ratio Rank: 9898
Calmar Ratio Rank
TREI.L Martin Ratio Rank: 9999
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TRIA.L vs. TREI.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 Invesco US Treasury Bond 0-1 Year UCITS ETF (TREI.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.LTREI.LDifference
Sharpe ratioReturn per unit of total volatility
1.99
6.57

-4.58

Sortino ratioReturn per unit of downside risk
2.84
10.91

-8.07

Omega ratioGain probability vs. loss probability

2.44

4.71

-2.27

Calmar ratioReturn relative to maximum drawdown

3.28

13.21

-9.93

Martin ratioReturn relative to average drawdown

9.26

159.95

-150.68

TRIA.L vs. TREI.L - Sharpe Ratio Comparison

The current TRIA.L Sharpe Ratio is 1.99, which is lower than the TREI.L Sharpe Ratio of 6.57. The chart below compares the historical Sharpe Ratios of TRIA.L and TREI.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

TRIA.L vs. TREI.L - Drawdown Comparison

The maximum TRIA.L drawdown since its inception was -1.22%, which is greater than TREI.L's maximum drawdown of -0.68%. Use the drawdown chart below to compare losses from any high point for TRIA.L and TREI.L.

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Drawdown Indicators

TRIA.LTREI.LDifference

Max Drawdown

Largest peak-to-trough decline

-1.22%

-0.68%

-0.54%

Max Drawdown (1Y)

Largest decline over 1 year

-1.22%

-0.29%

-0.93%

Max Drawdown (3Y)

Largest decline over 3 years

-1.22%

-0.29%

-0.93%

Max Drawdown (5Y)

Largest decline over 5 years

-1.22%

-0.67%

-0.55%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-0.09%

-0.06%

-0.03%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.43%

0.02%

+0.41%

Volatility

TRIA.L vs. TREI.L - Volatility Comparison

Invesco US Treasury Bond 0-1 Year UCITS ETF (TRIA.L) has a higher volatility of 0.13% compared to Invesco US Treasury Bond 0-1 Year UCITS ETF (TREI.L) at 0.10%. This indicates that TRIA.L's price experiences larger fluctuations and is considered to be riskier than TREI.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.LTREI.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.13%

0.10%

+0.03%

Volatility (6M)

Calculated over the trailing 6-month period

1.99%

0.50%

+1.49%

Volatility (1Y)

Calculated over the trailing 1-year period

2.01%

0.59%

+1.42%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.01%

0.55%

+0.46%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

0.93%

0.56%

+0.37%

TRIA.L vs. TREI.L - Expense Ratio Comparison

Both TRIA.L and TREI.L have an expense ratio of 0.06%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

TRIA.L vs. TREI.L - Dividend Comparison

TRIA.L has not paid dividends to shareholders, while TREI.L's dividend yield for the trailing twelve months is around 3.92%.

PositionTTM202520242023202220212020
TREI.L
Invesco US Treasury Bond 0-1 Year UCITS ETF		3.92%4.23%4.98%4.59%1.51%0.10%0.69%
TRIA.L
Invesco US Treasury Bond 0-1 Year UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

TRIA.L and TREI.L have a correlation of 0.40, 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 0.06% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

TRIA.L and TREI.L have the same expense ratio: 0.06% per year.

Both ETFs track Invesco US Treasury Bond 0-1 Year UCITS ETF.

Portfolio Optimizer

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