TRSG.L vs. UB74.L
TRSG.L (Invesco US Treasury Bond UCITS ETF Dist) and UB74.L (UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis) are both Government Bonds funds - TRSG.L tracks the Bloomberg US Treasury Index while UB74.L tracks the Bloomberg US 1-3 Year Treasury Bond Index. Both are passively managed. Over the past 5 years, TRSG.L returned 0.70%/yr vs 2.86%/yr for UB74.L. Their correlation of 0.88 suggests significant overlap in exposure. TRSG.L charges 0.06%/yr vs 0.05%/yr for UB74.L.
Performance
TRSG.L vs. UB74.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 lower than UB74.L's 0.66% 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*
- —
UB74.L
- 1D
- 0.12%
- 1M
- 1.24%
- YTD
- 0.66%
- 6M
- 0.09%
- 1Y
- 4.60%
- 3Y*
- 1.43%
- 5Y*
- 2.86%
- 10Y*
- 2.42%
TRSG.L vs. UB74.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% |
UB74.L UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis | 0.66% | -2.06% | 5.76% | -1.65% | 7.62% | 0.57% | -0.46% | 1.12% |
Correlation
The correlation between TRSG.L and UB74.L is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2019 | 0.88 |
The correlation between TRSG.L and UB74.L has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.
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Return for Risk
TRSG.L vs. UB74.L — Risk / Return Rank
TRSG.L
UB74.L
TRSG.L vs. UB74.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 UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis (UB74.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 | UB74.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.12 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.87 | 0.94 | -0.08 |
| Martin ratioReturn relative to average drawdown | 2.08 | 2.39 | -0.31 |
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 | UB74.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.75 | 0.71 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | 0.35 | -0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.26 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.07 | 0.27 | -0.20 |
Drawdowns
TRSG.L vs. UB74.L - Drawdown Comparison
The maximum TRSG.L drawdown since its inception was -23.68%, which is greater than UB74.L's maximum drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for TRSG.L and UB74.L.
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Drawdown Indicators
| TRSG.L | UB74.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.68% | -18.81% | -4.87% |
Max Drawdown (1Y)Largest decline over 1 year | -5.24% | -4.61% | -0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -8.17% | -8.93% | +0.76% |
Max Drawdown (5Y)Largest decline over 5 years | -16.12% | -16.33% | +0.21% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.81% | — |
Current DrawdownCurrent decline from peak | -18.65% | -7.81% | -10.84% |
Average DrawdownAverage peak-to-trough decline | -15.47% | -8.27% | -7.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 1.82% | +0.36% |
Volatility
TRSG.L vs. UB74.L - Volatility Comparison
The current volatility for Invesco US Treasury Bond UCITS ETF Dist (TRSG.L) is 1.47%, while UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis (UB74.L) has a volatility of 1.70%. This indicates that TRSG.L experiences smaller price fluctuations and is considered to be less risky than UB74.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 | UB74.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 1.70% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 4.45% | 4.49% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.05% | 6.14% | -0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.71% | 8.08% | +0.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.42% | 9.27% | +0.15% |
TRSG.L vs. UB74.L - Expense Ratio Comparison
TRSG.L has a 0.06% expense ratio, which is higher than UB74.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. UB74.L - Dividend Comparison
TRSG.L's dividend yield for the trailing twelve months is around 4.24%, more than UB74.L's 3.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% | 0.00% |
UB74.L UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis | 3.69% | 4.94% | 3.67% | 2.23% | 0.41% | 0.36% | 1.68% | 2.28% | 1.10% | 0.65% | 0.62% | 0.41% |
Frequently Asked Questions
TRSG.L and UB74.L have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UB74.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UB74.L is cheaper with a 0.05% expense ratio, compared with 0.06% for TRSG.L.
TRSG.L tracks Bloomberg US Treasury Index, while UB74.L tracks Bloomberg US 1-3 Year Treasury Bond Index. They also come from different issuers: Invesco and UBS. Their fees differ too: 0.06% for TRSG.L and 0.05% for UB74.L.
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