TRSX.L vs. TRS5.L
TRSX.L (SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF) and TRS5.L (SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF) are both Government Bonds funds from State Street - TRSX.L tracks the Bloomberg US 7-10 Year Treasury Bond Index while TRS5.L tracks the Bloomberg US 3-7 Year Treasury Bond Index. Both are passively managed. Over the past 10 years, TRSX.L returned 0.55%/yr vs 1.21%/yr for TRS5.L. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 0.05% expense ratio.
Performance
TRSX.L vs. TRS5.L - Performance Comparison
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Returns By Period
In the year-to-date period, TRSX.L achieves a -0.84% return, which is significantly lower than TRS5.L's -0.06% return. Over the past 10 years, TRSX.L has underperformed TRS5.L with an annualized return of 0.55%, while TRS5.L has yielded a comparatively higher 1.21% annualized return.
TRSX.L
- 1D
- 0.12%
- 1M
- 0.39%
- YTD
- -0.84%
- 6M
- -0.28%
- 1Y
- 3.05%
- 3Y*
- 2.76%
- 5Y*
- -1.09%
- 10Y*
- 0.55%
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%
TRSX.L vs. TRS5.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRSX.L SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF | -0.84% | 8.40% | -0.27% | 3.37% | -15.02% | -3.14% | 9.54% | 8.79% | 0.61% | 2.71% |
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% |
Correlation
The correlation between TRSX.L and TRS5.L is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Feb 17, 2016 | 0.94 |
The correlation between TRSX.L and TRS5.L has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.
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Return for Risk
TRSX.L vs. TRS5.L — Risk / Return Rank
TRSX.L
TRS5.L
TRSX.L vs. TRS5.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF (TRSX.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.
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.
| TRSX.L | TRS5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.19 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.77 | 1.20 | -0.43 |
| Martin ratioReturn relative to average drawdown | 2.19 | 3.39 | -1.20 |
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Drawdowns
TRSX.L vs. TRS5.L - Drawdown Comparison
The maximum TRSX.L drawdown since its inception was -23.62%, which is greater than TRS5.L's maximum drawdown of -14.35%. Use the drawdown chart below to compare losses from any high point for TRSX.L and TRS5.L.
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Drawdown Indicators
| TRSX.L | TRS5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.62% | -14.35% | -9.27% |
Max Drawdown (1Y)Largest decline over 1 year | -4.05% | -2.50% | -1.55% |
Max Drawdown (3Y)Largest decline over 3 years | -7.22% | -3.72% | -3.50% |
Max Drawdown (5Y)Largest decline over 5 years | -21.08% | -13.64% | -7.44% |
Max Drawdown (10Y)Largest decline over 10 years | -23.62% | -14.35% | -9.27% |
Current DrawdownCurrent decline from peak | -10.84% | -1.27% | -9.57% |
Average DrawdownAverage peak-to-trough decline | -8.80% | -3.79% | -5.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.43% | 0.89% | +0.54% |
Volatility
TRSX.L vs. TRS5.L - Volatility Comparison
SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF (TRSX.L) has a higher volatility of 1.29% compared to SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (TRS5.L) at 0.87%. This indicates that TRSX.L's price experiences larger fluctuations and is considered to be riskier 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
| TRSX.L | TRS5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 0.87% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 3.36% | 2.19% | +1.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.49% | 2.86% | +1.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.44% | 4.72% | +2.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.32% | 3.76% | +2.56% |
TRSX.L vs. TRS5.L - Expense Ratio Comparison
Both TRSX.L and TRS5.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
TRSX.L vs. TRS5.L - Dividend Comparison
TRSX.L's dividend yield for the trailing twelve months is around 4.09%, more than TRS5.L's 3.92% 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% |
TRSX.L SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF | 4.09% | 3.90% | 3.57% | 2.71% | 1.65% | 1.02% | 1.56% | 2.34% | 2.07% | 1.88% | 0.74% |
Frequently Asked Questions
With a correlation of 0.94, TRSX.L and TRS5.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.
TRSX.L and TRS5.L have the same expense ratio: 0.05% per year.
TRSX.L tracks Bloomberg US 7-10 Year Treasury Bond Index, while TRS5.L tracks Bloomberg US 3-7 Year Treasury Bond Index.
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