ETF · Invesco
TRLG Invesco US Treasury Bond 10+ Year UCITS ETF Hedged GBP
ISIN IE00BKWD3859London Stock Exchange: TRLGInvesco Ltd.
- Government bonds
- ETF
- ISA
- SIPP
- Distributing
- GBP hedged
Latest close
LSE£3.72
on
- Ongoing charge
- 0.13% a year
- Fund size
- £44.7m
As of , at least 15 min delayed
At a glance
As of 13/11/2026, TRLG (Invesco US Treasury Bond 10+ Year UCITS ETF Hedged GBP, ISIN IE00BKWD3859) closed at £3.72 on the London Stock Exchange. Its ongoing charge is 0.13% a year (about £13 on £10,000). Over the three years to 13/11/2026 its total return was −0.1%, or −9.7% after UK CPIH inflation.
Past returns
- 1 year to 13/11/2026
- −6.4%
- −9.7% after inflation (UK CPIH)
- 3 years to 13/11/2026
- −0.1%
- −9.7% after inflation (UK CPIH)
Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.
How we work it out:ReturnsReturns after inflationTotal returnReal returnCPIH
Calendar-year and 12-month returns
Calendar-year returns of Invesco US Treasury Bond 10+ Year UCITS ETF Hedged GBP in pounds (price only, income paid out not included): 2023 −2.8%, 2024 −10.9%, 2025 +0.1%; 2026 to 13/11/2026 −8.2%. Returns of Invesco US Treasury Bond 10+ Year UCITS ETF Hedged GBP in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −12.6%; to 30/09/2025: −8.0%; to 30/09/2024: +9.6%.
| Year | Return | After inflation | Return shown as a bar |
|---|---|---|---|
| to | −8.2% | −11.1% | |
| to | +0.1% | −3.4% | |
| to | −10.9% | −14.0% | |
| −2.8% | −6.7% |
| 12 months to | Return | After inflation |
|---|---|---|
| from | −12.6% | −15.7% |
| from | −8.0% | −11.6% |
| from | +9.6% | +6.8% |
As of , inflation: UK CPIH
How we work it out:Calendar-year returnsWhat a calendar-year return isAccumulating and distributing
Risk: volatility and largest fall
Volatility (annualised)
12.1%over 3 years
| 1 year | 9.8% |
|---|---|
| 3 years | 12.1% |
Annualised from weekly returns. Higher means bumpier.
- Largest fall since October 2022
- −27.6%
- From to
- Lowest 12-month return
- −16.8%
- 12 months to
- Highest 12-month return
- +11.5%
- 12 months to
- Below its highest weekly close since October 2022
- 25.7%
- High of , latest
In words: Volatility of Invesco US Treasury Bond 10+ Year UCITS ETF Hedged GBP in pounds, annualised from weekly returns to 13/11/2026: 9.8% over 1 year, 12.1% over 3 years. Largest fall in the price of Invesco US Treasury Bond 10+ Year UCITS ETF Hedged GBP since October 2022, in pounds: −27.6% from 07/04/2023 to 09/10/2026. The lowest 12-month return of Invesco US Treasury Bond 10+ Year UCITS ETF Hedged GBP in pounds (price only, income paid out not included) since October 2022 was −16.8% (12 months to 26/04/2024); the highest was +11.5% (12 months to 18/10/2024). On 13/11/2026 the price of Invesco US Treasury Bond 10+ Year UCITS ETF Hedged GBP was 25.7% below its highest weekly close since October 2022 (07/04/2023), in pounds.
As of , price only — income paid out is not included
How we work it out:Risk figuresFallsVolatilityLargest fall
Charges compared with similar funds
- Ongoing charge
- 0.13%
- a year
- On £10,000
- £13
- a year, roughly
- Over five years
- £65
- of £10,000, before growth
- 153 charge less
- 7 the same
- 151 charge more
Ongoing charge of Invesco US Treasury Bond 10+ Year UCITS ETF Hedged GBP 0.13% a year. Compared on 14/11/2026, 151 of the 311 other government bond funds charge more, 7 the same and 153 less (share classes counted once).
As of
A lower charge is not a promise of a higher return: what the fund holds matters more.
As of
Read more:Ongoing charge (OCF)OCF and TERFee dragHow charges add up
In plain English
Invesco US Treasury Bond 10+ Year UCITS ETF Hedged GBP is an exchange-traded fund (ETF) from Invesco, launched in 2022.
It tracks the Bloomberg US Long Treasury Index - USD - Benchmark TR Net.
You buy and sell it through a share-dealing account or platform during stock-market hours, like a share.
Its ongoing charge is 0.13% a year — about £13 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.
Government bonds: Loans to governments, such as UK gilts and US Treasuries. They pay interest; their prices move when interest rates change.
Terms:ETFIndex fundUCITSAccumulating or incomeCurrency hedgingShare classISIN
Key facts
- Ticker
- TRLG
- ISIN
- IE00BKWD3859
- Provider
- Invesco
- Structure
- ETF
- An exchange-traded fund: bought and sold on the stock exchange through the day, like a share.
- Income
- Distributing, paid quarterly
- Income is paid out to holders as cash, usually a few times a year.
- Ongoing charge
- 0.13% a year · about £13 on £10,000
- Fund size
- £44.7m
- Launched
- Domicile
- Ireland
- UK reporting fund status
- Yes — on HMRC’s list of reporting funds (list of )
- Reporting fund since . What reporting fund status means
- Can usually be held in
- ISA and SIPP
- Check with your platform: each decides which funds it offers.
- Currency hedged
- Yes, to pounds
- Price currency
- Pounds (GBP)
- Category
- Government bonds
Price chart
Over the last year, the closing price went from £4.15 on 14/11/2025 to £3.72 on 13/11/2026 (−10.2%). The lowest close shown was £3.63 on 09/10/2026 and the highest £4.23 on 27/02/2026.
One close a week. Before 07/08/2026 the closes are from the weekly price history for this listing; from then on, the closing prices we have recorded. Price only — income paid out is not included, so the line can end below the total return above.
As of , at least 15 min delayed
Five years of prices, and after inflation
211 weekly closes, from 21/10/2022 to 13/11/2026. The same history in November 2026 pounds, adjusted with CPIH inflation.
Create a free account to see the 5-year price chart and the after-inflation chart
Sign-up takes an email address. There is no card to enter and nothing to pay.
How we work it out:Prices and returnsNAV and price
What it holds
- Holdings
- 101
- on record
- Ten largest
- 21.3%
- of the whole fund
- Effective number of holdings
- 77
- As concentrated as this many equal-sized holdings (how it is worked out)
- Largest holding
- 2.2%
- US Tsy N/B 5.125% 15/08/56
Top 10 holdings
| Rank# | Holding | Weight as a percentage of the fund |
|---|---|---|
| 1 | US Tsy N/B 5.125% 15/08/56 | 2.24% |
| 2 | US Tsy N/B 5% 15/05/56 | 2.20% |
| 3 | US Tsy N/B 4.625% 15/11/55 | 2.19% |
| 4 | US Tsy N/B 4.75% 15/05/55 | 2.18% |
| 5 | US Tsy N/B 4.75% 15/11/53 | 2.10% |
| 6 | US Tsy N/B 4.5% 15/11/54 | 2.09% |
| 7 | US Tsy N/B 4.75% 15/02/56 | 2.09% |
| 8 | US Tsy N/B 4.75% 15/08/55 | 2.09% |
| 9 | US Tsy N/B 4.625% 15/05/54 | 2.07% |
| 10 | US Tsy N/B 4.625% 15/02/55 | 2.06% |
As of , holdings as published
See the full portfolio
Every holding with search and filters, the whole breakdown by sector, country and type of asset, a map of the 100 largest and what changed since .
All holdings
The fund publishes 101 holdings; the ten largest make up 21.3% of it.
Create a free account to see the full holdings list
Sign-up takes an email address. There is no card to enter and nothing to pay.
Holdings:Compare what it holds with another fundHoldings overlapHow overlap is measured
Funds tracking the same index
6 funds track Bloomberg US Long Treasury Index - USD - Benchmark TR Net, this one included and share classes counted once; their ongoing charges range from 0.06% to 0.13% a year (13/11/2026).
| Fund | Charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Amundi US Treasury Bond Long Dated UCITS ETFDistributing · 0.06% a year | 0.06% | −7.0% | −1.9% | −30.4% |
| Amundi US Treasury Bond Long Dated UCITS ETF Acc- CapitalisationAccumulating · 0.07% a year | 0.07% | −6.7% | −3.9% | Not reported |
| Amundi US Treasury Bond Long Dated UCITS ETF GBP Hedged DistDistributing · Currency hedged · 0.10% a year | 0.10% | −9.4% | −3.0% | Not reported |
| Invesco US Treasury Bond 10+ Year UCITS ETF Accum- USDAccumulating · 0.06% a year | 0.06% | −7.0% | Not reported | Not reported |
| Invesco US Treasury Bond 10+ Year UCITS ETF Hedged GBPThis fundDistributing · Currency hedged · 0.13% a year | 0.13% | −6.4% | −0.1% | Not reported |
| Invesco US Treasury Bond 10+ Year UCITS ETF USDDistributing · 0.06% a year | 0.06% | −7.0% | −5.0% | Not reported |
As of
Bloomberg US Long Treasury funds compared: charges, sizes and share classes
Read more:Index fundsTracking differenceHow funds are compared
Other versions of this fund
Risk and return in depth
Sharpe, Sortino and Calmar ratios
Sharpe, Sortino and Calmar ratios over 1 and 3 years, from weekly returns in pounds.
With a free accountRolling returns
The full range of 159 rolling 12-month returns since October 2022, in pounds, with how often they were above zero.
With a free accountLargest falls and recoveries
The 2 largest falls since October 2022, in pounds, with how many weeks each took to reach its low and to recover.
With a free account
Create a free account to see the risk ratios, every rolling return and each large fall and its recovery
Sign-up takes an email address. There is no card to enter and nothing to pay.
Moves compared with a similar fund
Correlation and beta of weekly returns in pounds against iShares Core UK Gilts UCITS ETF, over the three years to 13/11/2026 (152 weeks).
Pro
Pro — currently by invitation
Pro includes moves against a comparable fund
Pro is open by invitation while it is being built. There is nothing to buy. To ask about access, email [email protected].
Questions people ask
What is the ongoing charge of TRLG?
The ongoing charge of TRLG is 0.13% a year — about £13 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 10+ Year UCITS ETF Hedged GBP 0.13% a year. Compared on 14/11/2026, 151 of the 311 other government bond funds charge more, 7 the same and 153 less (share classes counted once).
What does TRLG track?
TRLG tracks the Bloomberg US Long Treasury Index - USD - Benchmark TR Net.
Is TRLG accumulating or distributing?
TRLG 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 TRLG?
The ISIN of TRLG is IE00BKWD3859. An ISIN identifies one exact share class of a fund; TRLG is its ticker on the London Stock Exchange.
What does TRLG hold?
As of 12/11/2026, TRLG holds 101 positions, according to its published holdings. The largest is US Tsy N/B 5.125% 15/08/56 at 2.24% of the fund; the ten largest make up 21.3%. Its ten largest holdings are US Tsy N/B 5.125% 15/08/56 (2.24%), US Tsy N/B 5% 15/05/56 (2.20%), US Tsy N/B 4.625% 15/11/55 (2.19%), US Tsy N/B 4.75% 15/05/55 (2.18%), US Tsy N/B 4.75% 15/11/53 (2.10%), US Tsy N/B 4.5% 15/11/54 (2.09%), US Tsy N/B 4.75% 15/02/56 (2.09%), US Tsy N/B 4.75% 15/08/55 (2.09%), US Tsy N/B 4.625% 15/05/54 (2.07%) and US Tsy N/B 4.625% 15/02/55 (2.06%).
What were TRLG’s returns in each of the last five years?
Calendar-year returns of TRLG in pounds (price only, income paid out not included): 2023 −2.8%, 2024 −10.9%, 2025 +0.1%; 2026 to 13/11/2026 −8.2%. Past performance is not a guide to future returns.
How has TRLG done after inflation?
Over the three years to 13/11/2026 TRLG’s total return was −0.1%, or −9.7% after UK CPIH inflation. Past performance is not a guide to future returns.
Similar funds
- CU71iShares USD Treasury Bond 3-7yr UCITS ETF0.07% a year · £6.1bn
- IBTAiShares USD Treasury Bond 1-3yr UCITS ETF Acc0.07% a year · £5.8bn
- SEGAiShares Core EUR Govt Bond UCITS ETF0.07% a year · £4.6bn
- SEMLiShares J.P. Morgan EM Local Govt Bond UCITS ETF0.50% a year · £4.1bn
- CBU0iShares USD Treasury Bond 7-10yr UCITS ETF USD (Acc) USD0.07% a year · £3.9bn
- VETAVanguard EUR Eurozone Government Bond UCITS ETF0.07% a year · £3.4bn
- IGLTiShares Core UK Gilts UCITS ETF0.07% a year · £3.4bn
- IBTMiShares USD Treasury Bond 7-10yr UCITS ETF0.07% a year · £3.0bn
Fund documents and methods
Methodology:ReturnsCategoriesAll methods
A machine-readable copy of this page: Markdown.