Midas mTBILL vs Invesco Short Duration US Government Securities Fund

Invesco Short Duration US Government Securities Fund (USTB) is 8.5× the size of Midas mTBILL (MTBILL) by market capitalisation. Over the past 30 days, USTB is ahead by 0.1 percentage points (MTBILL +0.5% against USTB +0.5%). Their daily returns move loosely together (correlation 0.56 across 52 shared trading days). Both have run at a similar volatility, around 1% annualised.

Correlation: 0.56
Size ratio: 1 : 8.5
Ahead over 30 days: USTB

Midas mTBILLMTBILL

$1.0770

24h: +0.04%
Market cap: $73.48M
Volume 24h: —
Volatility (ann.): 1%

Invesco Short Duration US Government Securities FundUSTB

$11.2700

24h: +0.01%
Market cap: $623.21M
Volume 24h: —
Volatility (ann.): 1%

MTBILL 10.5%Share of the two combined market caps89.5% USTB

Performance

MTBILLUSTB

7 days+0.09%+0.09%MTBILL
30 days+0.47%+0.54%USTB

Correlation

0.56over 52 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.6890d: insufficient data1y: insufficient data

Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.

Risk & extremes

Metric	MTBILL	USTB
Max drawdown (400d)	0.0%	0.0%
Risk-adjusted return (90d)	0.93	1.15

Relative strength over 90 days: USTB outperformed MTBILL by 0.1% — measured on the MTBILL/USTB ratio, so it holds regardless of market direction.

Midas mTBILL →Invesco Short Duration US Government Securities Fund →