Theo Short Duration US Treasury Fund vs Invesco Short Duration US Government Securities Fund

Invesco Short Duration US Government Securities Fund (USTB) is 5.2× the size of Theo Short Duration US Treasury Fund (THBILL) by market capitalisation. Over the past 30 days, USTB is ahead by 1.1 percentage points (THBILL -0.6% against USTB +0.5%). Their daily returns move barely in opposite directions (correlation -0.00 across 56 shared trading days). THBILL has been the more volatile of the two, at 3% annualised against USTB's 1%.

Correlation: -0.00
Size ratio: 1 : 5.2
Ahead over 30 days: USTB

Theo Short Duration US Treasury FundTHBILL

$1.0120

24h: +0.03%
Market cap: $117.18M
Volume 24h: $74
Volatility (ann.): 3%

Invesco Short Duration US Government Securities FundUSTB

$11.2700

24h: +0.01%
Market cap: $615.08M
Volume 24h: —
Volatility (ann.): 1%

THBILL 16.0%Share of the two combined market caps84.0% USTB

Performance

THBILLUSTB

7 days-0.59%+0.09%USTB
30 days-0.59%+0.54%USTB

Correlation

-0.00over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0190d: 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	THBILL	USTB
Max drawdown (400d)	-0.9%	0.0%
Risk-adjusted return (90d)	-0.19	1.15

Relative strength over 90 days: USTB outperformed THBILL by 1.4% — measured on the THBILL/USTB ratio, so it holds regardless of market direction.

Theo Short Duration US Treasury Fund →Invesco Short Duration US Government Securities Fund →