TRS5.L vs. VDTY.L
TRS5.L (SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF) and VDTY.L (Vanguard USD Treasury Bond UCITS ETF) are both Government Bonds funds - TRS5.L tracks the Bloomberg US 3-7 Year Treasury Bond Index while VDTY.L tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index. Both are passively managed. Over the past 10 years, TRS5.L returned 1.21%/yr vs 0.81%/yr for VDTY.L. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.05% expense ratio.
Performance
TRS5.L vs. VDTY.L - Performance Comparison
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Returns By Period
In the year-to-date period, TRS5.L achieves a -0.06% return, which is significantly lower than VDTY.L's 0.35% return. Over the past 10 years, TRS5.L has outperformed VDTY.L with an annualized return of 1.21%, while VDTY.L has yielded a comparatively lower 0.81% annualized return.
TRS5.L
- 1D
- 0.18%
- 1M
- 0.61%
- YTD
- -0.06%
- 6M
- 0.36%
- 1Y
- 3.01%
- 3Y*
- 3.87%
- 5Y*
- 0.46%
- 10Y*
- 1.21%
VDTY.L
- 1D
- 0.19%
- 1M
- 1.03%
- YTD
- 0.35%
- 6M
- 0.72%
- 1Y
- 3.56%
- 3Y*
- 3.01%
- 5Y*
- -0.33%
- 10Y*
- 0.81%
TRS5.L vs. VDTY.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 | -0.06% | 7.28% | 2.01% | 4.18% | -9.49% | -2.44% | 6.78% | 5.43% | 1.21% | 0.99% |
VDTY.L Vanguard USD Treasury Bond UCITS ETF | 0.35% | 6.28% | 0.84% | 3.77% | -12.31% | -2.40% | 7.67% | 7.06% | 0.78% | 2.34% |
Correlation
The correlation between TRS5.L and VDTY.L is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2016 | 0.90 |
The correlation between TRS5.L and VDTY.L has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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Return for Risk
TRS5.L vs. VDTY.L — Risk / Return Rank
TRS5.L
VDTY.L
TRS5.L vs. VDTY.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 Vanguard USD Treasury Bond UCITS ETF (VDTY.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.
| TRS5.L | VDTY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.18 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.20 | 1.19 | +0.01 |
| Martin ratioReturn relative to average drawdown | 3.39 | 3.43 | -0.04 |
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Drawdowns
TRS5.L vs. VDTY.L - Drawdown Comparison
The maximum TRS5.L drawdown since its inception was -14.35%, smaller than the maximum VDTY.L drawdown of -18.98%. Use the drawdown chart below to compare losses from any high point for TRS5.L and VDTY.L.
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Drawdown Indicators
| TRS5.L | VDTY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.35% | -18.98% | +4.63% |
Max Drawdown (1Y)Largest decline over 1 year | -2.50% | -2.97% | +0.47% |
Max Drawdown (3Y)Largest decline over 3 years | -3.72% | -5.21% | +1.49% |
Max Drawdown (5Y)Largest decline over 5 years | -13.64% | -16.59% | +2.95% |
Max Drawdown (10Y)Largest decline over 10 years | -14.35% | -18.98% | +4.63% |
Current DrawdownCurrent decline from peak | -1.27% | -6.43% | +5.16% |
Average DrawdownAverage peak-to-trough decline | -3.79% | -6.66% | +2.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 1.04% | -0.15% |
Volatility
TRS5.L vs. VDTY.L - Volatility Comparison
The current volatility for SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (TRS5.L) is 0.87%, while Vanguard USD Treasury Bond UCITS ETF (VDTY.L) has a volatility of 1.00%. This indicates that TRS5.L experiences smaller price fluctuations and is considered to be less risky than VDTY.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 | VDTY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 1.00% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 2.19% | 2.55% | -0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.86% | 3.51% | -0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.72% | 5.56% | -0.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.76% | 4.86% | -1.10% |
TRS5.L vs. VDTY.L - Expense Ratio Comparison
Both TRS5.L and VDTY.L have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
TRS5.L vs. VDTY.L - Dividend Comparison
TRS5.L's dividend yield for the trailing twelve months is around 3.92%, less than VDTY.L's 4.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
TRS5.L SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | 3.92% | 3.68% | 3.24% | 1.97% | 1.12% | 0.98% | 1.66% | 2.13% | 1.66% | 1.40% | 0.47% |
VDTY.L Vanguard USD Treasury Bond UCITS ETF | 4.24% | 4.29% | 4.07% | 3.40% | 2.09% | 1.21% | 1.54% | 2.34% | 2.33% | 1.57% | 0.99% |
Frequently Asked Questions
With a correlation of 0.91, TRS5.L and VDTY.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.
Both ETFs have the same 0.05% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
TRS5.L and VDTY.L have the same expense ratio: 0.05% per year.
TRS5.L tracks Bloomberg US 3-7 Year Treasury Bond Index, while VDTY.L tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index. They also come from different issuers: State Street and Vanguard.
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