XUTD.L vs. TRSX.L
XUTD.L (Xtrackers II US Treasuries UCITS ETF 1D) and TRSX.L (SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF) are both Government Bonds funds - XUTD.L tracks the iBoxx USD Treasuries Index while TRSX.L tracks the Bloomberg US 7-10 Year Treasury Bond Index. Both are passively managed. Over the past 5 years, XUTD.L returned -0.44%/yr vs -0.98%/yr for TRSX.L. At a 0.30 correlation, their price movements are largely independent. XUTD.L charges 0.06%/yr vs 0.05%/yr for TRSX.L.
Performance
XUTD.L vs. TRSX.L - Performance Comparison
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Returns By Period
In the year-to-date period, XUTD.L achieves a -0.22% return, which is significantly lower than TRSX.L's -0.05% return.
XUTD.L
- 1D
- 0.20%
- 1M
- 0.21%
- YTD
- -0.22%
- 6M
- 0.03%
- 1Y
- 3.70%
- 3Y*
- 2.89%
- 5Y*
- -0.44%
- 10Y*
- 0.90%
TRSX.L
- 1D
- 0.23%
- 1M
- -0.00%
- YTD
- -0.05%
- 6M
- -0.58%
- 1Y
- 3.91%
- 3Y*
- 2.70%
- 5Y*
- -0.98%
- 10Y*
- —
XUTD.L vs. TRSX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XUTD.L Xtrackers II US Treasuries UCITS ETF 1D | -0.22% | 6.38% | 0.77% | 3.91% | -12.78% | -2.45% | 7.94% | 7.21% | 0.66% | -0.09% |
TRSX.L SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF | -0.05% | 8.02% | -0.62% | 3.29% | -14.99% | -2.94% | 9.77% | 6.30% | -2.18% | -0.07% |
Correlation
The correlation between XUTD.L and TRSX.L is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017 | 0.30 |
Over the past year, XUTD.L and TRSX.L have become more correlated (0.63) than their long-term average of 0.30, meaning their price movements have been converging.
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Return for Risk
XUTD.L vs. TRSX.L — Risk / Return Rank
XUTD.L
TRSX.L
XUTD.L vs. TRSX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II US Treasuries UCITS ETF 1D (XUTD.L) and SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF (TRSX.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.
| XUTD.L | TRSX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.22 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 1.61 | -0.40 |
| Martin ratioReturn relative to average drawdown | 3.71 | 4.19 | -0.47 |
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
| XUTD.L | TRSX.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.01 | 1.15 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.08 | -0.22 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.18 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.15 | +0.28 |
Drawdowns
XUTD.L vs. TRSX.L - Drawdown Comparison
The maximum XUTD.L drawdown since its inception was -19.61%, smaller than the maximum TRSX.L drawdown of -23.50%. Use the drawdown chart below to compare losses from any high point for XUTD.L and TRSX.L.
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Drawdown Indicators
| XUTD.L | TRSX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.61% | -23.50% | +3.89% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -4.05% | +1.00% |
Max Drawdown (3Y)Largest decline over 3 years | -5.47% | -7.35% | +1.88% |
Max Drawdown (5Y)Largest decline over 5 years | -17.01% | -20.96% | +3.95% |
Max Drawdown (10Y)Largest decline over 10 years | -19.61% | — | — |
Current DrawdownCurrent decline from peak | -7.53% | -10.55% | +3.02% |
Average DrawdownAverage peak-to-trough decline | -5.55% | -11.02% | +5.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 2.25% | -1.26% |
Volatility
XUTD.L vs. TRSX.L - Volatility Comparison
The current volatility for Xtrackers II US Treasuries UCITS ETF 1D (XUTD.L) is 1.40%, while SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF (TRSX.L) has a volatility of 1.87%. This indicates that XUTD.L experiences smaller price fluctuations and is considered to be less risky than TRSX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XUTD.L | TRSX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.40% | 1.87% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 2.60% | 3.46% | -0.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.67% | 5.73% | -2.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.76% | 13.52% | -7.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.05% | 13.53% | -8.48% |
XUTD.L vs. TRSX.L - Expense Ratio Comparison
XUTD.L has a 0.06% expense ratio, which is higher than TRSX.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
XUTD.L vs. TRSX.L - Dividend Comparison
XUTD.L's dividend yield for the trailing twelve months is around 3.48%, less than TRSX.L's 4.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
TRSX.L SPDR Bloomberg 7-10 Year US Treasury Bond UCITS ETF | 4.09% | 3.93% | 3.59% | 2.71% | 1.65% | 1.02% | 1.56% | 0.00% | 0.00% | 0.00% | 0.00% |
XUTD.L Xtrackers II US Treasuries UCITS ETF 1D | 3.48% | 3.27% | 3.65% | 2.39% | 1.95% | 3.42% | 1.08% | 1.47% | 1.35% | 1.34% | 2.12% |
Frequently Asked Questions
XUTD.L and TRSX.L have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TRSX.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TRSX.L is cheaper with a 0.05% expense ratio, compared with 0.06% for XUTD.L.
XUTD.L tracks iBoxx USD Treasuries Index, while TRSX.L tracks Bloomberg US 7-10 Year Treasury Bond Index. They also come from different issuers: Xtrackers and State Street. Their fees differ too: 0.06% for XUTD.L and 0.05% for TRSX.L.
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