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State Street® SPDR® Bloomberg 1-3 Year U.S. Treasury Bond UCITS ETF (Dist)Index, costs, backtest, listings and taxation

ISIN: IE00BC7GZJ81Ticker: TRS3 (Borsa Italiana) · SYBW (Xetra) · TRS3 (London SE) · TRS3 (SIX)Issuer: SPDR
Issuer-declared data
TER
0.05%
Transaction costs
0.01% (issuer estimate, from the KID)
Management
Passive (index-tracking) (from the KID)
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics — inferred (issuer documents do not declare art. 8/9) what does it mean?
Fund assets
69.1 mln EUR
NAV
47.6 USD (30 August 2026)
Domicile
Ireland
Inception date
26 August 2013
Data as declared by SPDR in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

State Street® SPDR® Bloomberg 1-3 Year U.S. Treasury Bond UCITS ETF (Dist) tracks the issuer-declared index: Bloomberg U.S. 1-3 Year Treasury Bond Index. The declared annual cost (TER) is 0.05%, plus 0.01% in transaction costs estimated by the issuer in the KID. Replication is stratified-sampling physical replication; income is distributed to investors. The fund has assets of about 69 million euro, was launched on 26 August 2013 and is domiciled in Ireland.

The fund’s objective — in the issuer’s words

The Shares of the USD Class are issued in U.S. Dollar. Investment objective The investment objective of the Fund is to seek to track the performance of the short-dated U.S. Treasury bond market. The Fund is an index tracking fund (also known as a passively managed fund). Index Source: The Index is the intellectual property of the Index provider. The Fund is not sponsored or endorsed by the Index provider. The Index provider does not provide any warranty or accept any liability in relation to any error relating to the Index, including any error in respect of the quality, accuracy or completeness of Index data, and does not guarantee that the Index will be in line with the described Index methodology. Please see the Prospectus for the full index disclaimer. Investment policies The Fund invests primarily in securities included in the Index. These securities will include public (government) obligations of the U.S. Treasury with a maturity between 1 and up to (but not including) 3 years. As it may be difficult to purchase all securities in the Index efficiently, in seeking to track the performance of the Index the Fund will use a a stratified sampling strategy to build a representative portfolio. Consequently, the Fund will typically hold only a subset of the securities included in the Index. In limited circumstances the Fund may purchase securities that are not included in the Index. The Fund may use financial derivative instruments (that is, financial contracts whose prices are dependent on one or more underlying assets) in order to manage the portfolio efficiently. Save in exceptional circumstances, the Fund will generally only issue and redeem shares to certain institutional investors. However, shares of the Fund may be purchased or sold through brokers on one or more stock exchanges. The Fund trades on these stock exchanges at market prices which may fluctuate throughout the day.

Keep reading the KID section ▾

Intended retail investorThis Fund is intended for investors who plan to stay invested for at least 3 years and are prepared to take on a medium-high level of risk of loss to their original capital in order to get a higher potential return. It is designed to form part of a portfolio of investments. Practical information Depositary The Fund depositary is State Street Custodial Services (Ireland) Limited.

From the KID’s “Objectives” section · 5 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.05%: below the median of bond ETFs we track (0.15%).
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · USD · from Aug 2013 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+19.8%
Annualised
+1.4%
Volatility (ann.)
1.4%
Max drawdown
-5.82%
-3%+3%+10%+17%+24%Aug 2013Dec 2016Mar 2020Jun 2023Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+20%Aug 2013Sept 2026
Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-2%-4%-6%-8%-10%2013201520172019202120232025−5.82% · 20 Oct 2022
Max drawdown
-5.82%
peak → trough
Trough
20 Oct 2022
from the 03 Aug 2021 peak
Recovery time
593 days
recovery only: trough to break-even · ≈ 1 year and 7 months
Underwater
1,036 days
decline + recovery: peak to break-even · ≈ 2 years and 10 months · → recovered on 04 Jun 2024

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
03 Aug 202120 Oct 2022-5.82%04 Jun 20241,036
08 Sept 201715 May 2018-1.09%04 Dec 2018452
24 Sept 202412 Nov 2024-0.96%27 Jan 2025125
05 Jul 201615 Dec 2016-0.95%11 Aug 2017402
25 Jun 201913 Sept 2019-0.91%03 Jan 2020192

Calendar-year returns

2016
0.7%
2017
0.3%
2018
1.4%
2019
2.3%
2020
3.0%
2021
-0.7%
2022
-4.0%
2023
4.1%
2024
4.0%
2025
5.1%
2026
1.1%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.20.5-0.40.20.10.10.20.20.01.1
20250.40.70.50.8-0.20.6-0.10.90.30.30.40.35.1
20240.4-0.40.3-0.40.70.61.20.90.8-0.60.30.24.0
20230.7-0.81.60.2-0.4-0.50.30.4-0.00.31.01.14.1
2022-0.7-0.4-1.4-0.50.6-0.60.4-0.8-1.2-0.10.60.2-4.0
20210.0-0.1-0.00.00.1-0.20.2-0.0-0.1-0.3-0.1-0.2-0.7
20200.50.91.30.10.10.00.1-0.00.0-0.10.00.03.0
20190.20.10.60.20.70.5-0.1-0.3-0.10.3-0.10.22.3
2018-0.3-0.10.2-0.20.4-0.0-0.00.3-0.10.10.30.81.4
20170.10.10.00.10.1-0.10.20.2-0.2-0.1-0.2-0.00.3
20160.60.10.20.0-0.10.6-0.1-0.20.1-0.1-0.40.00.7
20150.5-0.20.20.00.10.00.0-0.00.3-0.1-0.3-0.10.4
20140.10.1-0.10.10.2-0.1-0.10.1-0.10.30.1-0.30.5
20130.20.10.1-0.10.2
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Issuer-declared series with dividends reinvested: the total performance, comparable with accumulating funds. Switch it off to see the price (NAV) alone, which drops at every dividend payment.
Source: SPDR. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Tracking difference — issuer-declared

How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER. Tracking difference was positive in 0 of the last 9 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.07% /anno
Declared TER
0.05%
YearFundIndexDifference
2025+5.15%+5.17%-0.02%
2024+3.99%+4.03%-0.04%
2023+4.14%+4.29%-0.15%
2022-3.96%-3.82%-0.14%
2021-0.75%-0.60%-0.15%
2020+3.00%+3.16%-0.16%
2019+3.44%+3.59%-0.15%
2018+1.42%+1.56%-0.14%
2017+0.28%+0.42%-0.14%
Figures declared by the issuer on the fund page (net fund and index returns per calendar year, as of 31 July 2026), not computed by us. Partial years excluded. What is tracking difference? →

Risk indicators· EUR

Last yearLast 3 yearsLast 5 yearsLast 10 yearsFull history
Volatility (ann.)6.03%7.28%8.12%7.54%7.90%
Max drawdown-4.44%-14.76%-19.09%-19.09%-19.09%
Sharpe-0.50-0.71-0.37-0.250.00
Sortino-0.64-0.90-0.49-0.340.00
Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.20%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

Duration and maturities

Duration · effective duration
1.85years

Price sensitivity to rates: the longer, the more the fund moves. What is duration →

Maturity breakdown (% of fund)
< 1 year
0.06%
1–3 years
99.94%

Source: factsheet SPDR, data as of 31 July 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.

Credit rating

How the portfolio is spread by credit quality: from AAA (strongest) downwards. More weight in the top buckets = lower risk that an issuer fails to pay, usually with lower yields.

Rating breakdown (% of fund)
Aaa
0.06%
Aa
99.94%

Source: factsheet SPDR, data as of 31 July 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.

Ratings are those the issuer assigns to portfolio holdings under its own methodology (usually the median of S&P, Moody’s and Fitch); scale and buckets are those of the original document.

Portfolio holdings

Securities in portfolio
97
Top-10 weight
17.4%

Top 10 holdings

US TREASURY N/B 3.5 01/31/2028
2.61%
US TREASURY N/B 4.625 04/30/2029
1.86%
US TREASURY N/B 4.25 06/30/2029
1.77%
US TREASURY N/B 2.875 05/15/2028
1.64%
US TREASURY N/B 4 01/31/2029
1.61%
US TREASURY N/B 1.125 02/29/2028
1.60%
US TREASURY N/B 4.125 03/31/2029
1.59%
US TREASURY N/B 3.125 11/15/2028
1.58%
US TREASURY N/B 3.75 04/15/2028
1.58%
US TREASURY N/B 4.25 01/15/2028
1.58%
⬇ Download the full portfolio — Excel, 97 rows
Full portfolio declared by SPDR, as of 31 August 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Dividends

Frequency
Semi-Annually
Latest dividend
0.9227 USD
ex 3 Aug 2026 · paid 17 Aug 2026
Dividends, last 12 months
1.86 USD
Dividend yield
3.90%
12-month sum over the NAV as of 3 Sept 2026

Yield by year

PeriodDividendsDividend yield
1 year1.86 USD3.84 %
20251.98 USD4.09 %
20242.01 USD4.13 %
20231.45 USD3.01 %
20220.30 USD0.60 %
20210.29 USD0.57 %

Dividend contribution to total return

-10%0%10%+2.51 %1 year+5.01 %2025+3.90 %2024+4.05 %2023−3.95 %2022−0.74 %2021
dividendsprice changeprice decline

Calendar per share (USD)

YearJanFebMarAprMayJunJulAugSepOctNovDec
20260.930.92
20251.020.96
20240.981.03
20230.610.84
20220.060.25
20210.200.09
20200.530.37
20190.49
20180.280.41
20170.200.30
20160.170.19
20150.120.15
20140.060.09

Latest dividends

Per shareEx-dividend dateRecord datePayment
0.9227 USD3 Aug 20264 Aug 202617 Aug 2026
0.9328 USD2 Feb 20263 Feb 202617 Feb 2026
0.9626 USD4 Aug 20255 Aug 202518 Aug 2025
1.0184 USD3 Feb 20254 Feb 202518 Feb 2025
1.0293 USD2 Aug 20245 Aug 202416 Aug 2024
0.9761 USD1 Feb 20242 Feb 202415 Feb 2024
0.8376 USD1 Aug 20232 Aug 202315 Aug 2023
0.6089 USD1 Feb 20232 Feb 202315 Feb 2023
Per-share dividends as declared by the issuer, in USD, since the first payment (31 Jan 2014). Past dividends are not indicative of future ones.

Index tracked

Bloomberg U.S. 1-3 Year Treasury Bond Index
This fund belongs to the government bonds family: compare all census ETFs in this family →

Italian taxation

Effective rate on capital gains
12.63%
White-list share
99.04%
From the government-bond («white list») share certified by the issuer every semester: 12.5% on that portion, 26% on the rest.
Deep-dive into this fund’s taxation →

Stock exchange listings

ExchangeTickerTrading since
Borsa Italiana (ETFplus)TRS323 Feb 2016
Börse DüsseldorfSYBW11 Nov 2015
Börse FrankfurtSYBW28 Aug 2013
Börse HamburgSYBW1 Aug 2016
Börse HannoverSYBW9 Dec 2024
Börse München / gettexSYBW4 Jul 2014
Börse StuttgartSYBW28 Aug 2013
Tradegate ExchangeSYBW7 Oct 2019
Xetra (Deutsche Börse)SYBW28 Aug 2013
+ 17 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does State Street® SPDR® Bloomberg 1-3 Year U.S. Treasury Bond UCITS ETF (Dist) track?
The issuer SPDR declares the benchmark: Bloomberg U.S. 1-3 Year Treasury Bond Index.
How much does TRS3 cost?
The issuer-declared TER is 0.05% per year; the transaction costs estimated in the KID are 0.01%.
How is TRS3 taxed in Italy?
On sale, the capital gain is taxed at an effective 12.63% rate (white-list share 99.04%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of TRS3?
The fund size declared by SPDR is about 69 million euro.
When was TRS3 launched?
The fund was launched on 26 August 2013: it has 13 years of history.
How does TRS3 replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (sampled) (issuer wording: “Stratified Sampling”).
Does TRS3 pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Distribution”).
Where does TRS3 trade?
Per the official ESMA register it trades on 9 main exchanges, including Borsa Italiana (ETFplus) (TRS3), Börse Düsseldorf (SYBW), Börse Frankfurt (SYBW), Börse Hamburg (SYBW), Börse Hannover (SYBW), Börse München / gettex (SYBW).
What was TRS3's worst fall?
Over the available history (since 2013), the maximum drawdown was -8.18%, reached in August 2023. Past performance is not indicative of future results.
How many securities does TRS3 hold?
The declared portfolio holds 97 securities; the top 10 positions weigh 17.4%.
Transparency note
The data in this sheet is declared by SPDR in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.