TRSG.L vs. TRS5.L
TRSG.L (Invesco US Treasury Bond UCITS ETF Dist) and TRS5.L (SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF) are both Government Bonds funds - TRSG.L tracks the Bloomberg US Treasury Index while TRS5.L tracks the Bloomberg US 3-7 Year Treasury Bond Index. Both are passively managed. Over the past 5 years, TRSG.L returned 0.70%/yr vs 1.39%/yr for TRS5.L. A 0.80 correlation means they provide meaningful diversification when combined. TRSG.L charges 0.06%/yr vs 0.05%/yr for TRS5.L.
Performance
TRSG.L vs. TRS5.L - Performance Comparison
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Different Trading Currencies
TRSG.L is traded in GBp, while TRS5.L is traded in USD. To make them comparable, the TRS5.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, TRSG.L achieves a -0.08% return, which is significantly lower than TRS5.L's 0.01% return.
TRSG.L
- 1D
- 0.21%
- 1M
- 1.12%
- YTD
- -0.08%
- 6M
- -0.57%
- 1Y
- 4.55%
- 3Y*
- 0.25%
- 5Y*
- 0.70%
- 10Y*
- —
TRS5.L
- 1D
- 0.18%
- 1M
- 0.81%
- YTD
- 0.01%
- 6M
- -0.78%
- 1Y
- 4.24%
- 3Y*
- 1.06%
- 5Y*
- 1.39%
- 10Y*
- 1.58%
TRSG.L vs. TRS5.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TRSG.L Invesco US Treasury Bond UCITS ETF Dist | -0.08% | -0.91% | 2.57% | -1.87% | -1.86% | -1.12% | 4.13% | 4.56% |
TRS5.L SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | 0.01% | -0.38% | 3.81% | -1.04% | 1.28% | -1.52% | 3.66% | 1.05% |
Correlation
The correlation between TRSG.L and TRS5.L is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2019 | 0.80 |
The correlation between TRSG.L and TRS5.L has been stable across timeframes, ranging from 0.75 to 0.80 - a consistent structural relationship.
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Return for Risk
TRSG.L vs. TRS5.L — Risk / Return Rank
TRSG.L
TRS5.L
TRSG.L vs. TRS5.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco US Treasury Bond UCITS ETF Dist (TRSG.L) and SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (TRS5.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.
| TRSG.L | TRS5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.12 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 0.75 | +0.11 |
| Martin ratioReturn relative to average drawdown | 2.08 | 2.01 | +0.07 |
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
| TRSG.L | TRS5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.75 | 0.66 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.16 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.16 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.07 | 0.14 | -0.07 |
Drawdowns
TRSG.L vs. TRS5.L - Drawdown Comparison
The maximum TRSG.L drawdown since its inception was -23.68%, which is greater than TRS5.L's maximum drawdown of -20.46%. Use the drawdown chart below to compare losses from any high point for TRSG.L and TRS5.L.
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Drawdown Indicators
| TRSG.L | TRS5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.68% | -20.46% | -3.22% |
Max Drawdown (1Y)Largest decline over 1 year | -5.24% | -5.61% | +0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -8.17% | -7.60% | -0.57% |
Max Drawdown (5Y)Largest decline over 5 years | -16.12% | -16.11% | -0.01% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.46% | — |
Current DrawdownCurrent decline from peak | -18.65% | -13.12% | -5.53% |
Average DrawdownAverage peak-to-trough decline | -15.47% | -11.64% | -3.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 2.11% | +0.07% |
Volatility
TRSG.L vs. TRS5.L - Volatility Comparison
The current volatility for Invesco US Treasury Bond UCITS ETF Dist (TRSG.L) is 1.47%, while SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (TRS5.L) has a volatility of 1.73%. This indicates that TRSG.L experiences smaller price fluctuations and is considered to be less risky than TRS5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRSG.L | TRS5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 1.73% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 4.45% | 5.09% | -0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.05% | 6.41% | -0.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.71% | 8.56% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.42% | 9.77% | -0.35% |
TRSG.L vs. TRS5.L - Expense Ratio Comparison
TRSG.L has a 0.06% expense ratio, which is higher than TRS5.L's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
TRSG.L vs. TRS5.L - Dividend Comparison
TRSG.L's dividend yield for the trailing twelve months is around 4.24%, more than TRS5.L's 3.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
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% |
TRSG.L Invesco US Treasury Bond UCITS ETF Dist | 4.24% | 4.22% | 4.16% | 3.85% | 1.94% | 1.12% | 1.69% | 2.01% |
Frequently Asked Questions
TRSG.L and TRS5.L have a correlation of 0.75, 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 0.06% for TRSG.L.
TRSG.L tracks Bloomberg US Treasury Index, while TRS5.L tracks Bloomberg US 3-7 Year Treasury Bond Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.06% for TRSG.L and 0.05% for TRS5.L.
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