UB74.L vs. TRIS.L
UB74.L (UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis) and TRIS.L (Invesco US Treasury Bond 0-1 Year UCITS ETF Dist) are both Government Bonds funds - UB74.L tracks the Bloomberg US 1-3 Year Treasury Bond Index while TRIS.L tracks the Bloomberg US Treasury Coupons Index. Both are passively managed. Over the past 5 years, UB74.L returned 2.86%/yr vs 4.36%/yr for TRIS.L. With a 0.98 correlation, they move nearly in lockstep. UB74.L charges 0.05%/yr vs 0.06%/yr for TRIS.L.
Performance
UB74.L vs. TRIS.L - Performance Comparison
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Returns By Period
In the year-to-date period, UB74.L achieves a 0.66% return, which is significantly lower than TRIS.L's 1.60% return.
UB74.L
- 1D
- 0.12%
- 1M
- 1.13%
- YTD
- 0.66%
- 6M
- 0.25%
- 1Y
- 4.37%
- 3Y*
- 1.43%
- 5Y*
- 2.86%
- 10Y*
- 2.42%
TRIS.L
- 1D
- 0.05%
- 1M
- 1.33%
- YTD
- 1.60%
- 6M
- 1.14%
- 1Y
- 4.90%
- 3Y*
- 2.01%
- 5Y*
- 4.36%
- 10Y*
- —
UB74.L vs. TRIS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
UB74.L UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis | 0.66% | -2.06% | 5.76% | -1.65% | 7.62% | 0.57% | -1.62% |
TRIS.L Invesco US Treasury Bond 0-1 Year UCITS ETF Dist | 1.60% | -2.79% | 6.84% | -0.75% | 12.57% | 1.25% | -3.44% |
Correlation
The correlation between UB74.L and TRIS.L is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2020 | 0.98 |
The correlation between UB74.L and TRIS.L has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
UB74.L vs. TRIS.L — Risk / Return Rank
UB74.L
TRIS.L
UB74.L vs. TRIS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis (UB74.L) and Invesco US Treasury Bond 0-1 Year UCITS ETF Dist (TRIS.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.
| UB74.L | TRIS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.13 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.94 | 1.09 | -0.14 |
| Martin ratioReturn relative to average drawdown | 2.39 | 2.75 | -0.35 |
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
| UB74.L | TRIS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.71 | 0.76 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.35 | 0.52 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.26 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.26 | +0.01 |
Drawdowns
UB74.L vs. TRIS.L - Drawdown Comparison
The maximum UB74.L drawdown since its inception was -18.81%, roughly equal to the maximum TRIS.L drawdown of -18.99%. Use the drawdown chart below to compare losses from any high point for UB74.L and TRIS.L.
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Drawdown Indicators
| UB74.L | TRIS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.81% | -18.99% | +0.18% |
Max Drawdown (1Y)Largest decline over 1 year | -4.61% | -4.49% | -0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -8.93% | -9.71% | +0.78% |
Max Drawdown (5Y)Largest decline over 5 years | -16.33% | -15.37% | -0.96% |
Max Drawdown (10Y)Largest decline over 10 years | -18.81% | — | — |
Current DrawdownCurrent decline from peak | -7.81% | -5.66% | -2.15% |
Average DrawdownAverage peak-to-trough decline | -8.27% | -9.81% | +1.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.82% | 1.78% | +0.04% |
Volatility
UB74.L vs. TRIS.L - Volatility Comparison
The current volatility for UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis (UB74.L) is 1.70%, while Invesco US Treasury Bond 0-1 Year UCITS ETF Dist (TRIS.L) has a volatility of 2.02%. This indicates that UB74.L experiences smaller price fluctuations and is considered to be less risky than TRIS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UB74.L | TRIS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.70% | 2.02% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 4.49% | 4.71% | -0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.14% | 6.45% | -0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.08% | 8.34% | -0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.27% | 8.80% | +0.47% |
UB74.L vs. TRIS.L - Expense Ratio Comparison
UB74.L has a 0.05% expense ratio, which is lower than TRIS.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
UB74.L vs. TRIS.L - Dividend Comparison
UB74.L's dividend yield for the trailing twelve months is around 3.69%, less than TRIS.L's 4.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TRIS.L Invesco US Treasury Bond 0-1 Year UCITS ETF Dist | 4.01% | 4.26% | 4.87% | 4.68% | 1.52% | 0.10% | 0.57% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UB74.L UBS ETF (LU) Bloomberg US 1-3 Year Treasury Bond UCITS ETF (USD) A-dis | 3.69% | 4.94% | 3.67% | 2.23% | 0.41% | 0.36% | 1.68% | 2.28% | 1.10% | 0.65% | 0.62% | 0.41% |
Frequently Asked Questions
With a correlation of 0.98, UB74.L and TRIS.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, UB74.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UB74.L is cheaper with a 0.05% expense ratio, compared with 0.06% for TRIS.L.
UB74.L tracks Bloomberg US 1-3 Year Treasury Bond Index, while TRIS.L tracks Bloomberg US Treasury Coupons Index. They also come from different issuers: UBS and Invesco. Their fees differ too: 0.05% for UB74.L and 0.06% for TRIS.L.
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