# Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged (T3GB)

**Page:** https://fundology.uk/fund/t3gb · ISIN IE00BF2FNL98

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, T3GB (Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged, ISIN IE00BF2FNL98) closed at £36.45 on the London Stock Exchange. Its ongoing charge is 0.10% a year (about £10 on £10,000). Over the five years to 13/11/2026 its total return was +8.1%, or −15.6% after UK CPIH inflation.

## Summary

Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged is an exchange-traded fund (ETF) from Invesco, launched in 2019. It tracks the Bloomberg US Treasury (1-3Y). You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.1% a year — about £10 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is paid out to holders as cash, usually a few times a year. It is currency-hedged: it aims to remove most of the effect of exchange-rate moves against the pound.

Latest close: **£36.45** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | T3GB |
| ISIN | IE00BF2FNL98 |
| Category | Government bonds |
| Type | ETF |
| Provider | Invesco |
| Tracks | Bloomberg US Treasury (1-3Y) |
| Income | Distributing |
| Ongoing charge | 0.10% a year (£10 per £10,000) |
| Fund size | £51.8m |
| Launched | 2019 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 01/07/2019 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +1.56% | -2.04% | income reinvested |
| 3 years | +11.38% | +0.63% | income reinvested |
| 5 years | +8.13% | -15.60% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged in pounds (price only, income paid out not included): 2022 −6.4%, 2023 −0.7%, 2024 −0.6%, 2025 +0.8%; 2026 to 13/11/2026 −1.7%. Returns of Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −2.4%; to 30/09/2025: −0.5%; to 30/09/2024: +1.9%; to 30/09/2023: −2.3%; to 30/09/2022: −6.7%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -6.4% | -14.3% | Price |
| 2023 | -0.7% | -4.7% | Price |
| 2024 | -0.6% | -4.0% | Price |
| 2025 | +0.8% | -2.7% | Price |
| 2026 to 13/11/2026 | -1.7% | -4.9% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 2.54% | -2.90% |
| 3 years | 2.67% | -3.42% |
| 5 years | 2.63% | -9.33% |

## Largest fall

Volatility of Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged in pounds, annualised from weekly returns to 13/11/2026: 2.5% over 1 year, 2.7% over 3 years, 2.6% over 5 years. Largest fall in the price of Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged since November 2021, in pounds: −9.3% from 26/11/2021 to 02/10/2026. The lowest 12-month return of Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged in pounds (price only, income paid out not included) since January 2021 was −7.2% (12 months to 04/11/2022); the highest was +2.0% (12 months to 20/09/2024). On 13/11/2026 the price of Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged was 8.9% below its highest weekly close since November 2021 (26/11/2021), in pounds.

## Charges compared with similar funds

Ongoing charge of Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged 0.10% a year. Compared on 14/11/2026, 184 of the 311 other government bond funds charge more, 39 the same and 88 less (share classes counted once).

## Funds tracking the same index

7 funds track Bloomberg US Treasury (1-3Y), this one included and share classes counted once; their ongoing charges range from 0.06% to 0.13% a year (13/11/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Amundi US Treasury Bond 1-3Y UCITS ETF -Dist- Distribution | 0.07% | +0.8% | +5.8% | +11.5% |
| Amundi US Treasury Bond 1-3Y UCITS ETF -Monthly Hedged to GBP- Distribution | 0.06% | -1.4% | +2.9% | — |
| Invesco US Treasury Bond 1-3 Year UCITS ETF | 0.06% | +0.9% | +6.0% | +11.8% |
| Invesco US Treasury Bond 1-3 Year UCITS ETF AccumUSD | 0.06% | +0.9% | — | — |
| Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged (this fund) | 0.10% | +1.6% | +11.4% | +8.1% |
| Vanguard U.S. Treasury 1-3 Year Bond UCITS ETF -USD | 0.13% | +0.6% | — | — |
| Vanguard U.S. Treasury 1-3 Year Bond UCITS ETF Accum Shs - USD | 0.13% | +0.6% | — | — |

Returns are as reported, in pounds, income reinvested unless marked "(price)".

## Charges & eligibility

- Ongoing charges figure (OCF): **0.10%** per year
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 12/11/2026, T3GB holds 96 positions, according to its published holdings. The largest is US Tsy N/B 3.5% 31/01/28 at 2.26% of the fund; the ten largest make up 14.9%.

### Top holdings

Largest positions (as of 12/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | US Tsy N/B 3.5% 31/01/28 | — | 2.26% |
| 2 | US Tsy N/B 4.75% 30/09/28 | — | 1.44% |
| 3 | US Tsy N/B 4% 31/05/28 | — | 1.42% |
| 4 | US Tsy N/B 4.125% 30/06/28 | — | 1.42% |
| 5 | US Tsy N/B 4.625% 30/04/29 | — | 1.42% |
| 6 | US Tsy N/B 4% 31/07/29 | — | 1.41% |
| 7 | US Tsy N/B 4.25% 31/07/28 | — | 1.40% |
| 8 | US Tsy N/B 3.375% 31/12/27 | — | 1.39% |
| 9 | US Tsy N/B 3.625% 31/08/29 | — | 1.39% |
| 10 | US Tsy N/B 4.125% 31/10/29 | — | 1.39% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.

### By type of asset

Added up from the fund’s published holdings, as of 05/11/2026.

| Type of asset | Weight |
|---|---|
| Bonds | 99.8% |
| Cash and money market | 0.2% |

All 96 holdings: https://fundology.uk/fund/t3gb/holdings

## Questions people ask

**What is the ongoing charge of T3GB?**

The ongoing charge of T3GB is 0.10% a year — about £10 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Invesco US Treasury Bond 1-3 Year UCITS ETF GBP Hedged 0.10% a year. Compared on 14/11/2026, 184 of the 311 other government bond funds charge more, 39 the same and 88 less (share classes counted once).

**What does T3GB track?**

T3GB tracks the Bloomberg US Treasury (1-3Y).

**Is T3GB accumulating or distributing?**

T3GB is distributing: income is paid out to holders as cash, usually a few times a year. It pays out quarterly.

**What is the ISIN of T3GB?**

The ISIN of T3GB is IE00BF2FNL98. An ISIN identifies one exact share class of a fund; T3GB is its ticker on the London Stock Exchange.

**What does T3GB hold?**

As of 12/11/2026, T3GB holds 96 positions, according to its published holdings. The largest is US Tsy N/B 3.5% 31/01/28 at 2.26% of the fund; the ten largest make up 14.9%. Its ten largest holdings are US Tsy N/B 3.5% 31/01/28 (2.26%), US Tsy N/B 4.75% 30/09/28 (1.44%), US Tsy N/B 4% 31/05/28 (1.42%), US Tsy N/B 4.125% 30/06/28 (1.42%), US Tsy N/B 4.625% 30/04/29 (1.42%), US Tsy N/B 4% 31/07/29 (1.41%), US Tsy N/B 4.25% 31/07/28 (1.40%), US Tsy N/B 3.375% 31/12/27 (1.39%), US Tsy N/B 3.625% 31/08/29 (1.39%) and US Tsy N/B 4.125% 31/10/29 (1.39%).

**What were T3GB’s returns in each of the last five years?**

Calendar-year returns of T3GB in pounds (price only, income paid out not included): 2022 −6.4%, 2023 −0.7%, 2024 −0.6%, 2025 +0.8%; 2026 to 13/11/2026 −1.7%. Past performance is not a guide to future returns.

**How has T3GB done after inflation?**

Over the five years to 13/11/2026 T3GB’s total return was +8.1%, or −15.6% after UK CPIH inflation. Past performance is not a guide to future returns.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.