TRXG.L vs. CU71.L
TRXG.L (Invesco US Treasury Bond 7-10 Year UCITS ETF Dist) and CU71.L (iShares USD Treasury Bond 3-7yr UCITS ETF (Acc)) are both Government Bonds funds - TRXG.L tracks the Bloomberg US 7-10 Year Treasury Bond Index while CU71.L tracks the ICE U.S. Treasury 3-7 Year Bond Index. Both are passively managed. Over the past 5 years, TRXG.L returned 0.22%/yr vs 1.58%/yr for CU71.L. Their correlation of 0.92 suggests significant overlap in exposure. TRXG.L charges 0.06%/yr vs 0.07%/yr for CU71.L.
Performance
TRXG.L vs. CU71.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with TRXG.L having a 1.77% return and CU71.L slightly higher at 1.85%.
TRXG.L
- 1D
- -0.18%
- 1M
- 2.87%
- YTD
- 1.77%
- 6M
- 2.67%
- 1Y
- 7.09%
- 3Y*
- 1.68%
- 5Y*
- 0.22%
- 10Y*
- —
CU71.L
- 1D
- -0.17%
- 1M
- 2.33%
- YTD
- 1.85%
- 6M
- 2.57%
- 1Y
- 6.11%
- 3Y*
- 2.62%
- 5Y*
- 1.58%
- 10Y*
- 1.28%
TRXG.L vs. CU71.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TRXG.L Invesco US Treasury Bond 7-10 Year UCITS ETF Dist | 1.77% | 1.08% | 1.43% | -2.16% | -4.76% | -1.80% | 6.08% | -17.78% |
CU71.L iShares USD Treasury Bond 3-7yr UCITS ETF (Acc) | 1.85% | -0.08% | 3.77% | -1.43% | 1.45% | -1.10% | 3.33% | 2.55% |
Correlation
The correlation between TRXG.L and CU71.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 | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2019 | 0.92 |
The correlation between TRXG.L and CU71.L has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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Return for Risk
TRXG.L vs. CU71.L — Risk / Return Rank
TRXG.L
CU71.L
TRXG.L vs. CU71.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco US Treasury Bond 7-10 Year UCITS ETF Dist (TRXG.L) and iShares USD Treasury Bond 3-7yr UCITS ETF (Acc) (CU71.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.
| TRXG.L | CU71.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.18 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.26 | 1.21 | +0.05 |
| Martin ratioReturn relative to average drawdown | 2.95 | 2.91 | +0.04 |
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Drawdowns
TRXG.L vs. CU71.L - Drawdown Comparison
The maximum TRXG.L drawdown since its inception was -26.41%, roughly equal to the maximum CU71.L drawdown of -25.85%. Use the drawdown chart below to compare losses from any high point for TRXG.L and CU71.L.
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Drawdown Indicators
| TRXG.L | CU71.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.41% | -25.85% | -0.56% |
Max Drawdown (1Y)Largest decline over 1 year | -5.60% | -5.02% | -0.58% |
Max Drawdown (3Y)Largest decline over 3 years | -7.91% | -20.81% | +12.90% |
Max Drawdown (5Y)Largest decline over 5 years | -16.24% | -25.85% | +9.61% |
Max Drawdown (10Y)Largest decline over 10 years | — | -25.85% | — |
Current DrawdownCurrent decline from peak | -19.30% | -17.36% | -1.94% |
Average DrawdownAverage peak-to-trough decline | -18.97% | -9.46% | -9.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.40% | 2.09% | +0.31% |
Volatility
TRXG.L vs. CU71.L - Volatility Comparison
Invesco US Treasury Bond 7-10 Year UCITS ETF Dist (TRXG.L) has a higher volatility of 1.76% compared to iShares USD Treasury Bond 3-7yr UCITS ETF (Acc) (CU71.L) at 1.53%. This indicates that TRXG.L's price experiences larger fluctuations and is considered to be riskier than CU71.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRXG.L | CU71.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.76% | 1.53% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 4.76% | 4.35% | +0.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.36% | 5.99% | +0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.48% | 19.92% | -10.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.06% | 15.62% | -2.56% |
TRXG.L vs. CU71.L - Expense Ratio Comparison
TRXG.L has a 0.06% expense ratio, which is lower than CU71.L's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
TRXG.L vs. CU71.L - Dividend Comparison
TRXG.L's dividend yield for the trailing twelve months is around 4.24%, while CU71.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CU71.L iShares USD Treasury Bond 3-7yr UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TRXG.L Invesco US Treasury Bond 7-10 Year UCITS ETF Dist | 4.24% | 4.26% | 4.24% | 3.55% | 2.38% | 1.60% | 1.94% | 2.07% |
Frequently Asked Questions
With a correlation of 0.94, TRXG.L and CU71.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.
On fees, TRXG.L is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRXG.L is cheaper with a 0.06% expense ratio, compared with 0.07% for CU71.L.
TRXG.L tracks Bloomberg US 7-10 Year Treasury Bond Index, while CU71.L tracks ICE U.S. Treasury 3-7 Year Bond Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.06% for TRXG.L and 0.07% for CU71.L.
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