TRXG.L vs. XUT3.L
TRXG.L (Invesco US Treasury Bond 7-10 Year UCITS ETF Dist) and XUT3.L (Xtrackers II US Treasuries 1-3 UCITS ETF 1D) are both Government Bonds funds - TRXG.L tracks the Bloomberg US 7-10 Year Treasury Bond Index while XUT3.L tracks the iBoxx USD Treasuries 1-3 Index. Both are passively managed. Over the past 5 years, TRXG.L returned 0.15%/yr vs 2.96%/yr for XUT3.L. A 0.65 correlation means they provide meaningful diversification when combined. Both charge a 0.06% expense ratio.
Performance
TRXG.L vs. XUT3.L - Performance Comparison
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Different Trading Currencies
TRXG.L is traded in GBp, while XUT3.L is traded in USD. To make them comparable, the XUT3.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, TRXG.L achieves a -0.62% return, which is significantly lower than XUT3.L's 0.95% return.
TRXG.L
- 1D
- 0.23%
- 1M
- 0.98%
- YTD
- -0.62%
- 6M
- -1.17%
- 1Y
- 4.95%
- 3Y*
- 0.11%
- 5Y*
- 0.15%
- 10Y*
- —
XUT3.L
- 1D
- 0.10%
- 1M
- 1.04%
- YTD
- 0.95%
- 6M
- 0.23%
- 1Y
- 4.46%
- 3Y*
- 1.56%
- 5Y*
- 2.96%
- 10Y*
- 2.49%
TRXG.L vs. XUT3.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 | -0.62% | 1.07% | 1.43% | -2.16% | -4.76% | -1.80% | 6.08% | 6.04% |
XUT3.L Xtrackers II US Treasuries 1-3 UCITS ETF 1D | 0.95% | -2.42% | 5.95% | -1.10% | 7.87% | 0.32% | -0.08% | 0.45% |
Correlation
The correlation between TRXG.L and XUT3.L is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2019 | 0.65 |
The correlation between TRXG.L and XUT3.L has been stable across timeframes, ranging from 0.60 to 0.65 - a consistent structural relationship.
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Return for Risk
TRXG.L vs. XUT3.L — Risk / Return Rank
TRXG.L
XUT3.L
TRXG.L vs. XUT3.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 Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.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.
| TRXG.L | XUT3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.12 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | 0.85 | +0.03 |
| Martin ratioReturn relative to average drawdown | 2.12 | 2.31 | -0.19 |
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
| TRXG.L | XUT3.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.78 | 0.69 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.36 | -0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.27 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.06 | 0.33 | -0.27 |
Drawdowns
TRXG.L vs. XUT3.L - Drawdown Comparison
The maximum TRXG.L drawdown since its inception was -26.41%, which is greater than XUT3.L's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for TRXG.L and XUT3.L.
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Drawdown Indicators
| TRXG.L | XUT3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.41% | -18.58% | -7.83% |
Max Drawdown (1Y)Largest decline over 1 year | -5.60% | -5.21% | -0.39% |
Max Drawdown (3Y)Largest decline over 3 years | -7.91% | -9.27% | +1.36% |
Max Drawdown (5Y)Largest decline over 5 years | -16.24% | -16.72% | +0.48% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.58% | — |
Current DrawdownCurrent decline from peak | -21.20% | -8.02% | -13.18% |
Average DrawdownAverage peak-to-trough decline | -16.98% | -8.22% | -8.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.33% | 1.92% | +0.41% |
Volatility
TRXG.L vs. XUT3.L - Volatility Comparison
Invesco US Treasury Bond 7-10 Year UCITS ETF Dist (TRXG.L) and Xtrackers II US Treasuries 1-3 UCITS ETF 1D (XUT3.L) have volatilities of 1.66% and 1.65%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRXG.L | XUT3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | 1.65% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 4.66% | 4.93% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.33% | 6.41% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.49% | 8.22% | +1.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.17% | 9.43% | +0.74% |
TRXG.L vs. XUT3.L - Expense Ratio Comparison
Both TRXG.L and XUT3.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
TRXG.L vs. XUT3.L - Dividend Comparison
TRXG.L's dividend yield for the trailing twelve months is around 4.28%, more than XUT3.L's 2.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
XUT3.L Xtrackers II US Treasuries 1-3 UCITS ETF 1D | 2.84% | 2.70% | 2.35% | 1.80% | 1.00% | 2.89% | 2.43% | 1.16% | 1.00% | 0.69% |
Frequently Asked Questions
TRXG.L and XUT3.L have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.06% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
TRXG.L and XUT3.L have the same expense ratio: 0.06% per year.
TRXG.L tracks Bloomberg US 7-10 Year Treasury Bond Index, while XUT3.L tracks iBoxx USD Treasuries 1-3 Index. They also come from different issuers: Invesco and Xtrackers.
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