TRS5.L vs. CBU7.L
TRS5.L (SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF) and CBU7.L (iShares $ Treasury Bond 3-7yr UCITS ETF USD Acc) are both Government Bonds funds - TRS5.L tracks the Bloomberg US 3-7 Year Treasury Bond Index while CBU7.L tracks the ICE U.S. Treasury 3-7 Year Bond Index. Both are passively managed. Over the past 10 years, TRS5.L returned 0.83%/yr vs 1.39%/yr for CBU7.L. Their correlation of 0.88 suggests significant overlap in exposure. TRS5.L charges 0.05%/yr vs 0.07%/yr for CBU7.L.
Performance
TRS5.L vs. CBU7.L - Performance Comparison
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Returns By Period
In the year-to-date period, TRS5.L achieves a -0.40% return, which is significantly higher than CBU7.L's -0.52% return. Over the past 10 years, TRS5.L has underperformed CBU7.L with an annualized return of 0.83%, while CBU7.L has yielded a comparatively higher 1.39% annualized return.
TRS5.L
- 1D
- 0.18%
- 1M
- -0.41%
- YTD
- -0.40%
- 6M
- 0.07%
- 1Y
- 3.32%
- 3Y*
- 3.66%
- 5Y*
- 0.31%
- 10Y*
- 0.83%
CBU7.L
- 1D
- 0.19%
- 1M
- -0.40%
- YTD
- -0.52%
- 6M
- 0.02%
- 1Y
- 3.29%
- 3Y*
- 3.73%
- 5Y*
- 0.39%
- 10Y*
- 1.39%
TRS5.L vs. CBU7.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRS5.L SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | -0.40% | 7.27% | 2.02% | 4.16% | -9.49% | -2.44% | 6.80% | 4.29% | -0.46% | -0.42% |
CBU7.L iShares $ Treasury Bond 3-7yr UCITS ETF USD Acc | -0.52% | 7.34% | 2.16% | 4.26% | -9.35% | -2.35% | 6.98% | 6.06% | 1.21% | 1.26% |
Correlation
The correlation between TRS5.L and CBU7.L is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2016 | 0.88 |
The correlation between TRS5.L and CBU7.L has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.
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Return for Risk
TRS5.L vs. CBU7.L — Risk / Return Rank
TRS5.L
CBU7.L
TRS5.L vs. CBU7.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (TRS5.L) and iShares $ Treasury Bond 3-7yr UCITS ETF USD Acc (CBU7.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.
| TRS5.L | CBU7.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.19 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.30 | 1.26 | +0.05 |
| Martin ratioReturn relative to average drawdown | 4.14 | 4.06 | +0.08 |
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
| TRS5.L | CBU7.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.11 | 1.07 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | 0.08 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 0.34 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.58 | -0.35 |
Drawdowns
TRS5.L vs. CBU7.L - Drawdown Comparison
The maximum TRS5.L drawdown since its inception was -14.35%, roughly equal to the maximum CBU7.L drawdown of -14.18%. Use the drawdown chart below to compare losses from any high point for TRS5.L and CBU7.L.
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Drawdown Indicators
| TRS5.L | CBU7.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.35% | -14.18% | -0.17% |
Max Drawdown (1Y)Largest decline over 1 year | -2.48% | -2.50% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -3.70% | -3.66% | -0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -13.64% | -13.55% | -0.09% |
Max Drawdown (10Y)Largest decline over 10 years | -14.35% | -14.18% | -0.17% |
Current DrawdownCurrent decline from peak | -1.60% | -1.60% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.40% | -3.33% | -1.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 0.77% | +0.01% |
Volatility
TRS5.L vs. CBU7.L - Volatility Comparison
SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (TRS5.L) and iShares $ Treasury Bond 3-7yr UCITS ETF USD Acc (CBU7.L) have volatilities of 1.15% and 1.13%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRS5.L | CBU7.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 1.13% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.14% | 2.15% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.91% | 2.96% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.71% | 4.70% | +0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.81% | 4.10% | -0.29% |
TRS5.L vs. CBU7.L - Expense Ratio Comparison
TRS5.L has a 0.05% expense ratio, which is lower than CBU7.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
TRS5.L vs. CBU7.L - Dividend Comparison
TRS5.L's dividend yield for the trailing twelve months is around 3.93%, while CBU7.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CBU7.L iShares $ Treasury Bond 3-7yr UCITS ETF USD Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TRS5.L SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | 3.93% | 3.68% | 3.24% | 1.97% | 1.12% | 0.98% | 1.66% | 1.09% |
Frequently Asked Questions
With a correlation of 0.95, TRS5.L and CBU7.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, TRS5.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRS5.L is cheaper with a 0.05% expense ratio, compared with 0.07% for CBU7.L.
TRS5.L tracks Bloomberg US 3-7 Year Treasury Bond Index, while CBU7.L tracks ICE U.S. Treasury 3-7 Year Bond Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.05% for TRS5.L and 0.07% for CBU7.L.
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