TRS5.L vs. IBTU.L
TRS5.L (SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF) and IBTU.L (iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist)) are both Government Bonds funds - TRS5.L tracks the Bloomberg US 3-7 Year Treasury Bond Index while IBTU.L tracks the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 5 years, TRS5.L returned 0.31%/yr vs 3.38%/yr for IBTU.L. At a 0.21 correlation, their price movements are largely independent. TRS5.L charges 0.05%/yr vs 0.07%/yr for IBTU.L.
Performance
TRS5.L vs. IBTU.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 lower than IBTU.L's 1.39% 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%
IBTU.L
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 1.39%
- 6M
- 1.77%
- 1Y
- 3.95%
- 3Y*
- 4.74%
- 5Y*
- 3.38%
- 10Y*
- —
TRS5.L vs. IBTU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% | 4.86% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 1.39% | 4.36% | 5.23% | 4.96% | 1.09% | -0.01% | 0.96% | 1.94% |
Correlation
The correlation between TRS5.L and IBTU.L is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2019 | 0.21 |
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Return for Risk
TRS5.L vs. IBTU.L — Risk / Return Rank
TRS5.L
IBTU.L
TRS5.L vs. IBTU.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 USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.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 | IBTU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.01 | ||
| Sortino ratioReturn per unit of downside risk | -15.59 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 3.95 | -2.75 |
| Calmar ratioReturn relative to maximum drawdown | 1.30 | 24.79 | -23.48 |
| Martin ratioReturn relative to average drawdown | 4.14 | 183.92 | -179.78 |
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 | IBTU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.11 | 8.12 | -7.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | 6.79 | -6.73 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 5.05 | -4.83 |
Drawdowns
TRS5.L vs. IBTU.L - Drawdown Comparison
The maximum TRS5.L drawdown since its inception was -14.35%, which is greater than IBTU.L's maximum drawdown of -0.62%. Use the drawdown chart below to compare losses from any high point for TRS5.L and IBTU.L.
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Drawdown Indicators
| TRS5.L | IBTU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.35% | -0.62% | -13.73% |
Max Drawdown (1Y)Largest decline over 1 year | -2.48% | -0.16% | -2.32% |
Max Drawdown (3Y)Largest decline over 3 years | -3.70% | -0.16% | -3.54% |
Max Drawdown (5Y)Largest decline over 5 years | -13.64% | -0.29% | -13.35% |
Max Drawdown (10Y)Largest decline over 10 years | -14.35% | — | — |
Current DrawdownCurrent decline from peak | -1.60% | 0.00% | -1.60% |
Average DrawdownAverage peak-to-trough decline | -4.40% | -0.03% | -4.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 0.02% | +0.76% |
Volatility
TRS5.L vs. IBTU.L - Volatility Comparison
SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (TRS5.L) has a higher volatility of 1.15% compared to iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) at 0.08%. This indicates that TRS5.L's price experiences larger fluctuations and is considered to be riskier than IBTU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRS5.L | IBTU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 0.08% | +1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.14% | 0.31% | +1.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.91% | 0.49% | +2.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.71% | 0.50% | +4.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.81% | 0.54% | +3.27% |
TRS5.L vs. IBTU.L - Expense Ratio Comparison
TRS5.L has a 0.05% expense ratio, which is lower than IBTU.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. IBTU.L - Dividend Comparison
TRS5.L's dividend yield for the trailing twelve months is around 3.93%, less than IBTU.L's 4.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.07% | 4.43% | 6.82% | 3.99% | 0.44% | 0.10% | 1.28% | 1.21% |
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
TRS5.L and IBTU.L have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 IBTU.L.
TRS5.L tracks Bloomberg US 3-7 Year Treasury Bond Index, while IBTU.L tracks ICE U.S. Treasury Short 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 IBTU.L.
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