TRS5.L vs. SPY5.L
TRS5.L (SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF) and SPY5.L (State Street SPDR S&P 500 UCITS ETF) are both exchange-traded funds - TRS5.L is a Government Bonds fund tracking the Bloomberg US 3-7 Year Treasury Bond Index, while SPY5.L is a S&P 500 fund tracking the S&P 500. Both are passively managed. Over the past 10 years, TRS5.L returned 0.83%/yr vs 15.36%/yr for SPY5.L. At a correlation of -0.10, they often move in opposite directions. TRS5.L charges 0.05%/yr vs 0.09%/yr for SPY5.L.
Performance
TRS5.L vs. SPY5.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 SPY5.L's 10.31% return. Over the past 10 years, TRS5.L has underperformed SPY5.L with an annualized return of 0.83%, while SPY5.L has yielded a comparatively higher 15.36% 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%
SPY5.L
- 1D
- 0.01%
- 1M
- 3.22%
- YTD
- 10.31%
- 6M
- 10.78%
- 1Y
- 27.50%
- 3Y*
- 22.16%
- 5Y*
- 13.71%
- 10Y*
- 15.36%
TRS5.L vs. SPY5.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% |
SPY5.L State Street SPDR S&P 500 UCITS ETF | 10.31% | 17.43% | 25.36% | 26.64% | -18.68% | 29.28% | 17.52% | 30.85% | -5.09% | 22.58% |
Correlation
The correlation between TRS5.L and SPY5.L is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2016 | -0.11 |
The correlation between TRS5.L and SPY5.L shifts across timeframes, from -0.10 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TRS5.L vs. SPY5.L — Risk / Return Rank
TRS5.L
SPY5.L
TRS5.L vs. SPY5.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 State Street SPDR S&P 500 UCITS ETF (SPY5.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 | SPY5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.28 | ||
| Sortino ratioReturn per unit of downside risk | -1.84 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.44 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.30 | 3.39 | -2.08 |
| Martin ratioReturn relative to average drawdown | 4.14 | 14.64 | -10.50 |
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 | SPY5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.11 | 2.39 | -1.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | 0.86 | -0.80 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 0.94 | -0.73 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.95 | -0.72 |
Drawdowns
TRS5.L vs. SPY5.L - Drawdown Comparison
The maximum TRS5.L drawdown since its inception was -14.35%, smaller than the maximum SPY5.L drawdown of -33.89%. Use the drawdown chart below to compare losses from any high point for TRS5.L and SPY5.L.
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Drawdown Indicators
| TRS5.L | SPY5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.35% | -33.89% | +19.54% |
Max Drawdown (1Y)Largest decline over 1 year | -2.48% | -8.18% | +5.70% |
Max Drawdown (3Y)Largest decline over 3 years | -3.70% | -18.37% | +14.67% |
Max Drawdown (5Y)Largest decline over 5 years | -13.64% | -24.37% | +10.73% |
Max Drawdown (10Y)Largest decline over 10 years | -14.35% | -33.89% | +19.54% |
Current DrawdownCurrent decline from peak | -1.60% | -0.55% | -1.05% |
Average DrawdownAverage peak-to-trough decline | -4.40% | -3.70% | -0.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 1.90% | -1.12% |
Volatility
TRS5.L vs. SPY5.L - Volatility Comparison
The current volatility for SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (TRS5.L) is 1.15%, while State Street SPDR S&P 500 UCITS ETF (SPY5.L) has a volatility of 3.17%. This indicates that TRS5.L experiences smaller price fluctuations and is considered to be less risky than SPY5.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 | SPY5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 3.17% | -2.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.14% | 8.48% | -6.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.91% | 11.59% | -8.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.71% | 15.92% | -11.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.81% | 16.24% | -12.43% |
TRS5.L vs. SPY5.L - Expense Ratio Comparison
TRS5.L has a 0.05% expense ratio, which is lower than SPY5.L's 0.09% 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. SPY5.L - Dividend Comparison
TRS5.L's dividend yield for the trailing twelve months is around 3.93%, more than SPY5.L's 0.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPY5.L State Street SPDR S&P 500 UCITS ETF | 0.89% | 0.97% | 1.06% | 1.19% | 1.40% | 0.99% | 1.28% | 1.71% | 2.20% | 2.29% | 1.64% | 1.73% |
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% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TRS5.L and SPY5.L have a correlation of 0.21, 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 0.09% for SPY5.L.
TRS5.L is categorized as Government Bonds, while SPY5.L is S&P 500. TRS5.L tracks Bloomberg US 3-7 Year Treasury Bond Index, while SPY5.L tracks S&P 500. Their fees differ too: 0.05% for TRS5.L and 0.09% for SPY5.L.
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