TSY3.L vs. TRXG.L
TSY3.L (SPDR Bloomberg 1-3 Year US Treasury Bond UCITS ETF) and TRXG.L (Invesco US Treasury Bond 7-10 Year UCITS ETF Dist) are both Government Bonds funds - TSY3.L tracks the Bloomberg US 1-3 Year Treasury Bond Index while TRXG.L tracks the Bloomberg US 7-10 Year Treasury Bond Index. Both are passively managed. Over the past 5 years, TSY3.L returned 2.87%/yr vs 0.15%/yr for TRXG.L. A 0.79 correlation means they provide meaningful diversification when combined. TSY3.L charges 0.05%/yr vs 0.06%/yr for TRXG.L.
Performance
TSY3.L vs. TRXG.L - Performance Comparison
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Different Trading Currencies
TSY3.L is traded in GBP, while TRXG.L is traded in GBp. To make them comparable, the TRXG.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, TSY3.L achieves a 0.72% return, which is significantly higher than TRXG.L's -0.62% return.
TSY3.L
- 1D
- 0.10%
- 1M
- 1.10%
- YTD
- 0.72%
- 6M
- 0.32%
- 1Y
- 4.44%
- 3Y*
- 1.49%
- 5Y*
- 2.87%
- 10Y*
- 2.44%
TRXG.L
- 1D
- 0.23%
- 1M
- 0.98%
- YTD
- -0.62%
- 6M
- -1.17%
- 1Y
- 4.95%
- 3Y*
- 0.11%
- 5Y*
- 0.15%
- 10Y*
- —
TSY3.L vs. TRXG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TSY3.L SPDR Bloomberg 1-3 Year US Treasury Bond UCITS ETF | 0.72% | -2.00% | 5.79% | -1.65% | 7.59% | 0.51% | -0.46% | 1.12% |
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% |
Correlation
The correlation between TSY3.L and TRXG.L is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2019 | 0.79 |
The correlation between TSY3.L and TRXG.L has been stable across timeframes, ranging from 0.72 to 0.82 - a consistent structural relationship.
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Return for Risk
TSY3.L vs. TRXG.L — Risk / Return Rank
TSY3.L
TRXG.L
TSY3.L vs. TRXG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 1-3 Year US Treasury Bond UCITS ETF (TSY3.L) and Invesco US Treasury Bond 7-10 Year UCITS ETF Dist (TRXG.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.
| TSY3.L | TRXG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.14 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.98 | 0.88 | +0.10 |
| Martin ratioReturn relative to average drawdown | 2.50 | 2.12 | +0.38 |
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
| TSY3.L | TRXG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.72 | 0.78 | -0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.35 | 0.02 | +0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.06 | +0.24 |
Drawdowns
TSY3.L vs. TRXG.L - Drawdown Comparison
The maximum TSY3.L drawdown since its inception was -18.75%, smaller than the maximum TRXG.L drawdown of -26.41%. Use the drawdown chart below to compare losses from any high point for TSY3.L and TRXG.L.
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Drawdown Indicators
| TSY3.L | TRXG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.75% | -26.41% | +7.66% |
Max Drawdown (1Y)Largest decline over 1 year | -4.50% | -5.60% | +1.10% |
Max Drawdown (3Y)Largest decline over 3 years | -8.92% | -7.91% | -1.01% |
Max Drawdown (5Y)Largest decline over 5 years | -16.38% | -16.24% | -0.14% |
Max Drawdown (10Y)Largest decline over 10 years | -18.75% | — | — |
Current DrawdownCurrent decline from peak | -7.69% | -21.20% | +13.51% |
Average DrawdownAverage peak-to-trough decline | -7.81% | -16.98% | +9.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.77% | 2.33% | -0.56% |
Volatility
TSY3.L vs. TRXG.L - Volatility Comparison
SPDR Bloomberg 1-3 Year US Treasury Bond UCITS ETF (TSY3.L) and Invesco US Treasury Bond 7-10 Year UCITS ETF Dist (TRXG.L) have volatilities of 1.67% and 1.66%, 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
| TSY3.L | TRXG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 1.66% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 4.50% | 4.66% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.14% | 6.33% | -0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.21% | 9.49% | -1.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.29% | 10.17% | -0.88% |
TSY3.L vs. TRXG.L - Expense Ratio Comparison
TSY3.L has a 0.05% expense ratio, which is lower than TRXG.L's 0.06% 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
TSY3.L vs. TRXG.L - Dividend Comparison
TSY3.L's dividend yield for the trailing twelve months is around 3.92%, less than TRXG.L's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
TSY3.L SPDR Bloomberg 1-3 Year US Treasury Bond UCITS ETF | 3.92% | 4.25% | 4.07% | 3.02% | 0.60% | 0.56% | 1.84% | 2.14% | 1.31% | 1.04% | 0.63% | 0.52% |
Frequently Asked Questions
TSY3.L and TRXG.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TSY3.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TSY3.L is cheaper with a 0.05% expense ratio, compared with 0.06% for TRXG.L.
TSY3.L tracks Bloomberg US 1-3 Year Treasury Bond Index, while TRXG.L tracks Bloomberg US 7-10 Year Treasury Bond Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.05% for TSY3.L and 0.06% for TRXG.L.
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