TRSG.L vs. TRXG.L
TRSG.L (Invesco US Treasury Bond UCITS ETF Dist) and TRXG.L (Invesco US Treasury Bond 7-10 Year UCITS ETF Dist) are both Government Bonds funds from Invesco - TRSG.L tracks the Bloomberg US Treasury Index while TRXG.L tracks the Bloomberg US 7-10 Year Treasury Bond Index. Both are passively managed. Over the past 5 years, TRSG.L returned 0.70%/yr vs 0.15%/yr for TRXG.L. With a 0.97 correlation, they move nearly in lockstep. Both charge a 0.06% expense ratio.
Performance
TRSG.L vs. TRXG.L - Performance Comparison
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Returns By Period
In the year-to-date period, TRSG.L achieves a -0.08% return, which is significantly higher than TRXG.L's -0.62% return.
TRSG.L
- 1D
- 0.21%
- 1M
- 0.99%
- YTD
- -0.08%
- 6M
- -0.58%
- 1Y
- 4.80%
- 3Y*
- 0.25%
- 5Y*
- 0.70%
- 10Y*
- —
TRXG.L
- 1D
- 0.23%
- 1M
- 0.75%
- YTD
- -0.62%
- 6M
- -1.14%
- 1Y
- 5.23%
- 3Y*
- 0.11%
- 5Y*
- 0.15%
- 10Y*
- —
TRSG.L vs. TRXG.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% |
TRXG.L Invesco US Treasury Bond 7-10 Year UCITS ETF Dist | -0.62% | 1.07% | 1.43% | -2.16% | -4.76% | -1.80% | 6.08% | 6.04% |
Correlation
The correlation between TRSG.L and TRXG.L is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2019 | 0.97 |
The correlation between TRSG.L and TRXG.L has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.
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Return for Risk
TRSG.L vs. TRXG.L — Risk / Return Rank
TRSG.L
TRXG.L
TRSG.L vs. TRXG.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 Invesco US Treasury Bond 7-10 Year UCITS ETF Dist (TRXG.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 | TRXG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.14 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 0.88 | -0.01 |
| Martin ratioReturn relative to average drawdown | 2.08 | 2.12 | -0.04 |
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 | TRXG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.75 | 0.78 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.02 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.07 | 0.06 | +0.01 |
Drawdowns
TRSG.L vs. TRXG.L - Drawdown Comparison
The maximum TRSG.L drawdown since its inception was -23.68%, smaller than the maximum TRXG.L drawdown of -26.41%. Use the drawdown chart below to compare losses from any high point for TRSG.L and TRXG.L.
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Drawdown Indicators
| TRSG.L | TRXG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.68% | -26.41% | +2.73% |
Max Drawdown (1Y)Largest decline over 1 year | -5.24% | -5.60% | +0.36% |
Max Drawdown (3Y)Largest decline over 3 years | -8.17% | -7.91% | -0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -16.12% | -16.24% | +0.12% |
Current DrawdownCurrent decline from peak | -18.65% | -21.20% | +2.55% |
Average DrawdownAverage peak-to-trough decline | -15.47% | -16.98% | +1.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 2.33% | -0.15% |
Volatility
TRSG.L vs. TRXG.L - Volatility Comparison
The current volatility for Invesco US Treasury Bond UCITS ETF Dist (TRSG.L) is 1.47%, while Invesco US Treasury Bond 7-10 Year UCITS ETF Dist (TRXG.L) has a volatility of 1.66%. This indicates that TRSG.L experiences smaller price fluctuations and is considered to be less risky than TRXG.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 | TRXG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 1.66% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 4.45% | 4.66% | -0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.05% | 6.33% | -0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.71% | 9.49% | -0.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.42% | 10.17% | -0.75% |
TRSG.L vs. TRXG.L - Expense Ratio Comparison
Both TRSG.L and TRXG.L have an expense ratio of 0.06%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
TRSG.L vs. TRXG.L - Dividend Comparison
TRSG.L's dividend yield for the trailing twelve months is around 4.24%, which matches TRXG.L's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
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% |
TRXG.L Invesco US Treasury Bond 7-10 Year UCITS ETF Dist | 4.28% | 4.25% | 4.24% | 3.55% | 2.38% | 1.60% | 1.94% | 2.07% |
Frequently Asked Questions
With a correlation of 0.97, TRSG.L and TRXG.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 0.06% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
TRSG.L and TRXG.L have the same expense ratio: 0.06% per year.
TRSG.L tracks Bloomberg US Treasury Index, while TRXG.L tracks Bloomberg US 7-10 Year Treasury Bond Index.
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