VAGT.DE vs. TRD1.DE
VAGT.DE (Vanguard USD Treasury Bond UCITS ETF Accumulating) and TRD1.DE (Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist) are both Government Bonds funds - VAGT.DE tracks the Bloomberg Global Aggregate US Treasury Float Adjusted Index while TRD1.DE tracks the Bloomberg US Treasury Coupons Index. Both are passively managed. Over the past 3 years, VAGT.DE returned 2.23%/yr vs 4.01%/yr for TRD1.DE. A 0.69 correlation means they provide meaningful diversification when combined. VAGT.DE charges 0.05%/yr vs 0.06%/yr for TRD1.DE.
Performance
VAGT.DE vs. TRD1.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VAGT.DE achieves a 2.49% return, which is significantly lower than TRD1.DE's 4.64% return.
VAGT.DE
- 1D
- 0.00%
- 1M
- 1.04%
- 6M
- 1.39%
- YTD
- 2.49%
- 1Y
- 4.86%
- 3Y*
- 2.23%
- 5Y*
- —
- 10Y*
- —
TRD1.DE
- 1D
- 0.08%
- 1M
- 1.66%
- 6M
- 3.54%
- YTD
- 4.64%
- 1Y
- 5.35%
- 3Y*
- 4.01%
- 5Y*
- 3.98%
- 10Y*
- —
VAGT.DE vs. TRD1.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VAGT.DE Vanguard USD Treasury Bond UCITS ETF Accumulating | 2.49% | -5.48% | 6.40% | -0.47% |
TRD1.DE Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist | 4.64% | -7.35% | 11.23% | -0.38% |
Correlation
The correlation between VAGT.DE and TRD1.DE is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2023 | 0.69 |
The correlation between VAGT.DE and TRD1.DE has been stable across timeframes, ranging from 0.69 to 0.74 - a consistent structural relationship.
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Return for Risk
VAGT.DE vs. TRD1.DE — Risk / Return Rank
VAGT.DE
TRD1.DE
VAGT.DE vs. TRD1.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Treasury Bond UCITS ETF Accumulating (VAGT.DE) and Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist (TRD1.DE). 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.
| VAGT.DE | TRD1.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.15 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.22 | 1.44 | -0.22 |
| Martin ratioReturn relative to average drawdown | 3.14 | 3.75 | -0.61 |
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Drawdowns
VAGT.DE vs. TRD1.DE - Drawdown Comparison
The maximum VAGT.DE drawdown since its inception was -11.03%, smaller than the maximum TRD1.DE drawdown of -17.81%. Use the drawdown chart below to compare losses from any high point for VAGT.DE and TRD1.DE.
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Drawdown Indicators
| VAGT.DE | TRD1.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.03% | -17.81% | +6.78% |
Max Drawdown (1Y)Largest decline over 1 year | -4.00% | -3.70% | -0.30% |
Max Drawdown (3Y)Largest decline over 3 years | -11.03% | -11.60% | +0.57% |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.70% | — |
Current DrawdownCurrent decline from peak | -5.90% | -5.36% | -0.54% |
Average DrawdownAverage peak-to-trough decline | -5.06% | -8.29% | +3.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.55% | 1.42% | +0.13% |
Volatility
VAGT.DE vs. TRD1.DE - Volatility Comparison
Vanguard USD Treasury Bond UCITS ETF Accumulating (VAGT.DE) has a higher volatility of 1.59% compared to Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist (TRD1.DE) at 1.48%. This indicates that VAGT.DE's price experiences larger fluctuations and is considered to be riskier than TRD1.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VAGT.DE | TRD1.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.59% | 1.48% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 3.82% | 4.65% | -0.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.54% | 6.31% | -0.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.27% | 7.48% | -0.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.27% | 8.09% | -0.82% |
VAGT.DE vs. TRD1.DE - Expense Ratio Comparison
VAGT.DE has a 0.05% expense ratio, which is lower than TRD1.DE'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
VAGT.DE vs. TRD1.DE - Dividend Comparison
VAGT.DE has not paid dividends to shareholders, while TRD1.DE's dividend yield for the trailing twelve months is around 3.86%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
TRD1.DE Invesco US Treasury Bond 0-1 Year UCITS ETF USD Dist | 3.86% | 4.35% | 4.82% | 4.70% | 1.55% | 0.10% | 0.74% |
VAGT.DE Vanguard USD Treasury Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VAGT.DE and TRD1.DE have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VAGT.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VAGT.DE is cheaper with a 0.05% expense ratio, compared with 0.06% for TRD1.DE.
VAGT.DE tracks Bloomberg Global Aggregate US Treasury Float Adjusted Index, while TRD1.DE tracks Bloomberg US Treasury Coupons Index. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.05% for VAGT.DE and 0.06% for TRD1.DE.
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