USFR.L vs. TRS5.L
USFR.L (WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD) and TRS5.L (SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF) are both Government Bonds funds - USFR.L tracks the Bloomberg US Treasury Floating Rate Bond Index while TRS5.L tracks the Bloomberg US 3-7 Year Treasury Bond Index. Both are passively managed. Over the past 5 years, USFR.L returned 3.67%/yr vs 0.46%/yr for TRS5.L. At a 0.02 correlation, their price movements are largely independent. USFR.L charges 0.15%/yr vs 0.05%/yr for TRS5.L.
Performance
USFR.L vs. TRS5.L - Performance Comparison
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Returns By Period
In the year-to-date period, USFR.L achieves a 1.81% return, which is significantly higher than TRS5.L's -0.06% return.
USFR.L
- 1D
- 0.02%
- 1M
- 0.30%
- YTD
- 1.81%
- 6M
- 1.89%
- 1Y
- 4.00%
- 3Y*
- 4.71%
- 5Y*
- 3.67%
- 10Y*
- —
TRS5.L
- 1D
- 0.18%
- 1M
- 0.61%
- YTD
- -0.06%
- 6M
- 0.36%
- 1Y
- 3.01%
- 3Y*
- 3.87%
- 5Y*
- 0.46%
- 10Y*
- 1.21%
USFR.L vs. TRS5.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
USFR.L WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD | 1.81% | 4.16% | 5.44% | 4.95% | 2.06% | -0.16% | 0.58% | 1.59% |
TRS5.L SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | -0.06% | 7.28% | 2.01% | 4.18% | -9.49% | -2.44% | 6.78% | 4.38% |
Correlation
The correlation between USFR.L and TRS5.L is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2019 | 0.02 |
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Return for Risk
USFR.L vs. TRS5.L — Risk / Return Rank
USFR.L
TRS5.L
USFR.L vs. TRS5.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD (USFR.L) and SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (TRS5.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.
| USFR.L | TRS5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.19 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 3.17 | 1.20 | +1.97 |
| Martin ratioReturn relative to average drawdown | 28.73 | 3.39 | +25.34 |
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Drawdowns
USFR.L vs. TRS5.L - Drawdown Comparison
The maximum USFR.L drawdown since its inception was -2.99%, smaller than the maximum TRS5.L drawdown of -14.35%. Use the drawdown chart below to compare losses from any high point for USFR.L and TRS5.L.
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Drawdown Indicators
| USFR.L | TRS5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.99% | -14.35% | +11.36% |
Max Drawdown (1Y)Largest decline over 1 year | -1.26% | -2.50% | +1.24% |
Max Drawdown (3Y)Largest decline over 3 years | -1.64% | -3.72% | +2.08% |
Max Drawdown (5Y)Largest decline over 5 years | -1.64% | -13.64% | +12.00% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.35% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.27% | +1.27% |
Average DrawdownAverage peak-to-trough decline | -0.09% | -3.79% | +3.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.14% | 0.89% | -0.75% |
Volatility
USFR.L vs. TRS5.L - Volatility Comparison
The current volatility for WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD (USFR.L) is 0.27%, while SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF (TRS5.L) has a volatility of 0.87%. This indicates that USFR.L experiences smaller price fluctuations and is considered to be less risky than TRS5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USFR.L | TRS5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.27% | 0.87% | -0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 1.64% | 2.19% | -0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.83% | 2.86% | -0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.47% | 4.72% | -2.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.50% | 3.76% | -1.26% |
USFR.L vs. TRS5.L - Expense Ratio Comparison
USFR.L has a 0.15% expense ratio, which is higher than TRS5.L's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
USFR.L vs. TRS5.L - Dividend Comparison
USFR.L's dividend yield for the trailing twelve months is around 3.98%, more than TRS5.L's 3.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
TRS5.L SPDR Bloomberg 3-7 Year US Treasury Bond UCITS ETF | 3.92% | 3.68% | 3.24% | 1.97% | 1.12% | 0.98% | 1.66% | 2.13% | 1.66% | 1.40% | 0.47% |
USFR.L WisdomTree USD Floating Rate Treasury Bond UCITS ETF USD | 3.98% | 4.32% | 5.24% | 4.58% | 0.78% | 0.00% | 0.57% | 1.09% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
USFR.L and TRS5.L have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRS5.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRS5.L is cheaper with a 0.05% expense ratio, compared with 0.15% for USFR.L.
USFR.L tracks Bloomberg US Treasury Floating Rate Bond Index, while TRS5.L tracks Bloomberg US 3-7 Year Treasury Bond Index. They also come from different issuers: WisdomTree and State Street. Their fees differ too: 0.15% for USFR.L and 0.05% for TRS5.L.
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