TRTY vs. IEF
TRTY (Cambria Trinity ETF) and IEF (iShares 7-10 Year Treasury Bond ETF) are both exchange-traded funds - TRTY is a Tactical Allocation fund tracking the Cambria Trinity Index, while IEF is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index. Both are passively managed. Over the past 5 years, TRTY returned 5.67%/yr vs -1.17%/yr for IEF. At a 0.05 correlation, their price movements are largely independent. TRTY charges 0.44%/yr vs 0.15%/yr for IEF.
Performance
TRTY vs. IEF - Performance Comparison
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Returns By Period
In the year-to-date period, TRTY achieves a 6.97% return, which is significantly higher than IEF's -0.53% return.
TRTY
- 1D
- -1.75%
- 1M
- -2.37%
- YTD
- 6.97%
- 6M
- 6.31%
- 1Y
- 19.33%
- 3Y*
- 10.40%
- 5Y*
- 5.67%
- 10Y*
- —
IEF
- 1D
- 0.13%
- 1M
- 0.59%
- YTD
- -0.53%
- 6M
- -0.47%
- 1Y
- 3.01%
- 3Y*
- 2.59%
- 5Y*
- -1.17%
- 10Y*
- 0.53%
TRTY vs. IEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TRTY Cambria Trinity ETF | 6.97% | 16.35% | 3.89% | 3.97% | -3.30% | 15.73% | 1.68% | 8.36% | -5.78% |
IEF iShares 7-10 Year Treasury Bond ETF | -0.53% | 8.03% | -0.63% | 3.64% | -15.15% | -3.33% | 10.01% | 8.03% | 3.42% |
Correlation
The correlation between TRTY and IEF is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2018 | 0.05 |
Over the past year, TRTY and IEF have become more correlated (0.30) than their long-term average of 0.05, meaning their price movements have been converging.
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Return for Risk
TRTY vs. IEF — Risk / Return Rank
TRTY
IEF
TRTY vs. IEF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cambria Trinity ETF (TRTY) and iShares 7-10 Year Treasury Bond ETF (IEF). 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.
| TRTY | IEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.29 | ||
| Sortino ratioReturn per unit of downside risk | +1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.11 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 3.54 | 0.74 | +2.80 |
| Martin ratioReturn relative to average drawdown | 13.89 | 2.01 | +11.88 |
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Drawdowns
TRTY vs. IEF - Drawdown Comparison
The maximum TRTY drawdown since its inception was -22.35%, smaller than the maximum IEF drawdown of -23.93%. Use the drawdown chart below to compare losses from any high point for TRTY and IEF.
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Drawdown Indicators
| TRTY | IEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.35% | -23.93% | +1.58% |
Max Drawdown (1Y)Largest decline over 1 year | -5.49% | -4.07% | -1.42% |
Max Drawdown (3Y)Largest decline over 3 years | -9.25% | -7.74% | -1.51% |
Max Drawdown (5Y)Largest decline over 5 years | -13.72% | -21.40% | +7.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.93% | — |
Current DrawdownCurrent decline from peak | -3.45% | -11.23% | +7.78% |
Average DrawdownAverage peak-to-trough decline | -4.15% | -5.36% | +1.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 1.50% | -0.11% |
Volatility
TRTY vs. IEF - Volatility Comparison
Cambria Trinity ETF (TRTY) has a higher volatility of 3.43% compared to iShares 7-10 Year Treasury Bond ETF (IEF) at 1.41%. This indicates that TRTY's price experiences larger fluctuations and is considered to be riskier than IEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRTY | IEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.43% | 1.41% | +2.02% |
Volatility (6M)Calculated over the trailing 6-month period | 8.79% | 3.48% | +5.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.05% | 4.72% | +5.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.61% | 7.71% | +2.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.43% | 6.62% | +3.81% |
TRTY vs. IEF - Expense Ratio Comparison
TRTY has a 0.44% expense ratio, which is higher than IEF's 0.15% expense ratio.
Dividends
TRTY vs. IEF - Dividend Comparison
TRTY's dividend yield for the trailing twelve months is around 3.10%, less than IEF's 3.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEF iShares 7-10 Year Treasury Bond ETF | 3.90% | 3.77% | 3.62% | 2.91% | 1.96% | 0.83% | 1.08% | 2.08% | 2.24% | 1.82% | 1.81% | 1.90% |
TRTY Cambria Trinity ETF | 3.10% | 2.86% | 3.55% | 3.24% | 5.17% | 4.52% | 1.99% | 2.64% | 1.07% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TRTY and IEF have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TRTY has higher volatility (3.43%) compared to IEF (1.41%). In terms of maximum drawdown, TRTY dropped -22.35% vs IEF's -23.93%.
On 5-year performance, TRTY leads with 5.67% vs -1.17% for IEF. On fees, IEF is cheaper at 0.15% per year. On volatility, IEF has been the lower-risk option at 1.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, TRTY has performed better with a 5.67% return vs -1.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEF is cheaper with a 0.15% expense ratio, compared with 0.44% for TRTY.
IEF has the higher dividend yield at 3.90%, compared with 3.10% for TRTY.
TRTY is categorized as Tactical Allocation, while IEF is Government Bonds. TRTY tracks Cambria Trinity Index, while IEF tracks ICE U.S. Treasury 7-10 Year Bond Index. They also come from different issuers: Cambria and iShares. Their fees differ too: 0.44% for TRTY and 0.15% for IEF.
TRTY currently has the higher Sharpe Ratio (1.93 vs 0.64), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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