TRIS.L vs. MUNI.L
Compare and contrast key facts about Invesco US Treasury Bond 0-1 Year UCITS ETF Dist (TRIS.L) and Invesco US Municipal Bond UCITS ETF Dist (MUNI.L).
TRIS.L and MUNI.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. TRIS.L is a passively managed fund by Invesco that tracks the performance of the Bloomberg US Government TR USD. It was launched on Jan 21, 2020. MUNI.L is a passively managed fund by Invesco that tracks the performance of the ICE BofA US Taxable Municipal Securities Plus Index. It was launched on Feb 10, 2021. Both TRIS.L and MUNI.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
TRIS.L vs. MUNI.L - Performance Comparison
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TRIS.L vs. MUNI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TRIS.L Invesco US Treasury Bond 0-1 Year UCITS ETF Dist | 2.48% | -2.79% | 6.84% | -0.75% | 12.57% | 4.22% |
MUNI.L Invesco US Municipal Bond UCITS ETF Dist | 2.31% | -0.23% | 3.22% | 1.75% | -10.36% | 8.12% |
Different Trading Currencies
TRIS.L is traded in GBp, while MUNI.L is traded in USD. To make them comparable, the MUNI.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, TRIS.L achieves a 2.48% return, which is significantly higher than MUNI.L's 2.31% return.
TRIS.L
- 1D
- -24.41%
- 1M
- 0.83%
- YTD
- 2.48%
- 6M
- 3.18%
- 1Y
- 1.91%
- 3Y*
- 2.39%
- 5Y*
- 4.04%
- 10Y*
- —
MUNI.L
- 1D
- 0.41%
- 1M
- -0.42%
- YTD
- 2.31%
- 6M
- 3.06%
- 1Y
- 3.00%
- 3Y*
- 1.70%
- 5Y*
- 0.90%
- 10Y*
- —
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TRIS.L vs. MUNI.L - Expense Ratio Comparison
TRIS.L has a 0.06% expense ratio, which is lower than MUNI.L's 0.28% expense ratio.
Return for Risk
TRIS.L vs. MUNI.L — Risk / Return Rank
TRIS.L
MUNI.L
TRIS.L vs. MUNI.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 Dist (TRIS.L) and Invesco US Municipal Bond UCITS ETF Dist (MUNI.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.
| TRIS.L | MUNI.L | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.05 | 0.66 | -0.62 |
Sortino ratioReturn per unit of downside risk | 0.40 | 0.98 | -0.59 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.12 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 0.13 | 0.39 | -0.27 |
Martin ratioReturn relative to average drawdown | 0.83 | 0.93 | -0.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TRIS.L | MUNI.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.05 | 0.66 | -0.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.16 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.13 | 0.14 | 0.00 |
Correlation
The correlation between TRIS.L and MUNI.L is 0.16, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
TRIS.L vs. MUNI.L - Dividend Comparison
TRIS.L's dividend yield for the trailing twelve months is around 3.98%, less than MUNI.L's 4.57% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TRIS.L Invesco US Treasury Bond 0-1 Year UCITS ETF Dist | 3.98% | 4.26% | 4.87% | 4.68% | 1.52% | 0.10% | 0.57% |
MUNI.L Invesco US Municipal Bond UCITS ETF Dist | 4.57% | 4.52% | 4.60% | 4.09% | 3.19% | 2.01% | 0.00% |
Drawdowns
TRIS.L vs. MUNI.L - Drawdown Comparison
The maximum TRIS.L drawdown since its inception was -24.41%, which is greater than MUNI.L's maximum drawdown of -15.64%. Use the drawdown chart below to compare losses from any high point for TRIS.L and MUNI.L.
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Drawdown Indicators
| TRIS.L | MUNI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.41% | -23.73% | -0.68% |
Max Drawdown (1Y)Largest decline over 1 year | -24.41% | -3.97% | -20.44% |
Max Drawdown (5Y)Largest decline over 5 years | -24.41% | -23.73% | -0.68% |
Current DrawdownCurrent decline from peak | -24.41% | -6.17% | -18.24% |
Average DrawdownAverage peak-to-trough decline | -9.92% | -11.76% | +1.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.69% | 2.80% | +0.89% |
Volatility
TRIS.L vs. MUNI.L - Volatility Comparison
Invesco US Treasury Bond 0-1 Year UCITS ETF Dist (TRIS.L) has a higher volatility of 40.47% compared to Invesco US Municipal Bond UCITS ETF Dist (MUNI.L) at 2.99%. This indicates that TRIS.L's price experiences larger fluctuations and is considered to be riskier than MUNI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRIS.L | MUNI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 40.47% | 2.99% | +37.48% |
Volatility (6M)Calculated over the trailing 6-month period | 39.84% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 40.78% | 11.74% | +29.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.84% | 19.11% | +0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.50% | 19.03% | -0.53% |