XBO2.DE vs. TRD3.DE
XBO2.DE (Xtrackers II Italy Government Bond 0-1 Swap UCITS ETF (Acc)) and TRD3.DE (Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist) are both Government Bonds funds - XBO2.DE tracks the FTSE Eurozone BOT Index while TRD3.DE tracks the Bloomberg US Treasury 1-3 Year Index. Both are passively managed. Over the past 5 years, XBO2.DE returned 1.73%/yr vs 2.57%/yr for TRD3.DE. At a 0.00 correlation, their price movements are largely independent. XBO2.DE charges 0.15%/yr vs 0.06%/yr for TRD3.DE.
Performance
XBO2.DE vs. TRD3.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XBO2.DE achieves a 0.65% return, which is significantly lower than TRD3.DE's 3.72% return.
XBO2.DE
- 1D
- 0.00%
- 1M
- 0.15%
- 6M
- 0.86%
- YTD
- 0.65%
- 1Y
- 1.73%
- 3Y*
- 2.81%
- 5Y*
- 1.73%
- 10Y*
- 0.71%
TRD3.DE
- 1D
- 0.03%
- 1M
- 1.51%
- 6M
- 2.33%
- YTD
- 3.72%
- 1Y
- 4.65%
- 3Y*
- 3.61%
- 5Y*
- 2.57%
- 10Y*
- —
XBO2.DE vs. TRD3.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XBO2.DE Xtrackers II Italy Government Bond 0-1 Swap UCITS ETF (Acc) | 0.65% | 2.42% | 3.53% | 3.03% | -0.64% | -0.60% | -0.22% | -0.13% |
TRD3.DE Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist | 3.72% | -6.54% | 10.06% | 0.57% | 2.12% | 7.70% | -6.02% | -7.51% |
Correlation
The correlation between XBO2.DE and TRD3.DE is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2019 | 0.00 |
The correlation between XBO2.DE and TRD3.DE shifts across timeframes, from -0.14 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XBO2.DE vs. TRD3.DE — Risk / Return Rank
XBO2.DE
TRD3.DE
XBO2.DE vs. TRD3.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II Italy Government Bond 0-1 Swap UCITS ETF (Acc) (XBO2.DE) and Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist (TRD3.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.
| XBO2.DE | TRD3.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.14 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.54 | 1.35 | +0.18 |
| Martin ratioReturn relative to average drawdown | 4.21 | 3.27 | +0.94 |
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Drawdowns
XBO2.DE vs. TRD3.DE - Drawdown Comparison
The maximum XBO2.DE drawdown since its inception was -3.92%, smaller than the maximum TRD3.DE drawdown of -13.49%. Use the drawdown chart below to compare losses from any high point for XBO2.DE and TRD3.DE.
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Drawdown Indicators
| XBO2.DE | TRD3.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.92% | -13.49% | +9.57% |
Max Drawdown (1Y)Largest decline over 1 year | -1.12% | -3.42% | +2.30% |
Max Drawdown (3Y)Largest decline over 3 years | -1.12% | -10.90% | +9.78% |
Max Drawdown (5Y)Largest decline over 5 years | -1.31% | -12.49% | +11.18% |
Max Drawdown (10Y)Largest decline over 10 years | -3.77% | — | — |
Current DrawdownCurrent decline from peak | -0.58% | -5.17% | +4.59% |
Average DrawdownAverage peak-to-trough decline | -0.71% | -7.12% | +6.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 1.42% | -1.01% |
Volatility
XBO2.DE vs. TRD3.DE - Volatility Comparison
Xtrackers II Italy Government Bond 0-1 Swap UCITS ETF (Acc) (XBO2.DE) has a higher volatility of 1.48% compared to Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist (TRD3.DE) at 1.35%. This indicates that XBO2.DE's price experiences larger fluctuations and is considered to be riskier than TRD3.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XBO2.DE | TRD3.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 1.35% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 2.61% | 4.08% | -1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.29% | 5.73% | -2.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.53% | 7.20% | -5.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.64% | 7.89% | -6.25% |
XBO2.DE vs. TRD3.DE - Expense Ratio Comparison
XBO2.DE has a 0.15% expense ratio, which is higher than TRD3.DE's 0.06% 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
XBO2.DE vs. TRD3.DE - Dividend Comparison
XBO2.DE has not paid dividends to shareholders, while TRD3.DE's dividend yield for the trailing twelve months is around 3.82%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
TRD3.DE Invesco US Treasury Bond 1-3 Year UCITS ETF USD Dist | 3.82% | 4.18% | 4.28% | 4.20% | 2.04% | 0.31% | 1.28% | 1.96% |
XBO2.DE Xtrackers II Italy Government Bond 0-1 Swap UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XBO2.DE and TRD3.DE have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRD3.DE is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRD3.DE is cheaper with a 0.06% expense ratio, compared with 0.15% for XBO2.DE.
XBO2.DE tracks FTSE Eurozone BOT Index, while TRD3.DE tracks Bloomberg US Treasury 1-3 Year Index. They also come from different issuers: Xtrackers and Invesco. Their fees differ too: 0.15% for XBO2.DE and 0.06% for TRD3.DE.
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