Invesco Short Term Treasury ETF (TBLL) Performance
TBLL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +2.9% since Dec 31, 2025
- 1 year
- +3.6% total return
- 5 years
- +3.7% a year
- Since first price
- +2.4% a year since 2017
TBLL trailing returns vs SPY, QQQ, AGG
| Period | TBLL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.4% | +0.1% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.0% | +0.1% | +3.2% | +1.9% | −0.4% |
| 6 months | +1.8% | 0.0% | +7.8% | +8.4% | −1.5% |
| YTD | +2.9% | −0.1% | +12.3% | +15.1% | −1.0% |
| 1 year | +3.6% | −0.0% | +14.4% | +15.9% | −1.1% |
| 3 years | +13.9%+4.4%/yr | +0.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +19.7%+3.7%/yr | −0.1% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionJan 12, 2017 | +26.7%+2.4%/yr | +0.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: TBLL vs SPY
From Jan 12, 2017: TBLL grew to $12,668, SPY to $39,054.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
TBLL returns by calendar year
8 of 8 full years positive. Best 2024 (+5.1%), worst 2021 (+0.0%). 2026 is year to date.
TBLL annual returns table
| Year | TBLL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +2.9% | −0.0% | +12.3% | +15.1% | −1.0% |
| 2025 | +4.2% | −0.0% | +17.7% | +20.8% | +7.2% |
| 2024 | +5.1% | −0.1% | +24.9% | +25.6% | +1.3% |
| 2023 | +5.0% | −0.4% | +26.2% | +54.9% | +5.7% |
| 2022 | +1.1% | −0.1% | −18.2% | −32.6% | −13.0% |
| 2021 | +0.0% | −0.1% | +28.7% | +27.4% | −1.8% |
| 2020 | +0.9% | −0.6% | +18.3% | +48.6% | +7.5% |
| 2019 | +2.4% | −0.2% | +31.2% | +39.0% | +8.5% |
| 2018 | +1.8% | −0.2% | −4.6% | −0.1% | +0.1% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
TBLL risk statistics
| Statistic | 3 years | 5 years | Since 2017 |
|---|---|---|---|
| Annualized return | +4.5% | +3.6% | +2.4% |
| Volatility (annualized) | 0.3% | 0.5% | 0.6% |
| Sharpe ratio | 0.02 | -0.35 | 0.36 |
| Sortino ratio | 0.03 | -0.47 | 0.70 |
| Best month | +0.6% | +0.6% | +0.6% |
| Worst month | +0.2% | −0.1% | −0.1% |
| Best 12 months | +5.5% | +5.5% | +5.5% |
| Worst 12 months | +3.6% | +0.3% | −0.1% |
| Positive months | 100% | 95% | 88% |
| Beta vs S&P 500 | 0.01 | 0.01 | — |
| Correlation with S&P 500 | 0.25 | 0.24 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
TBLL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 106 | −0.1% | +2.3% | +5.5% | 93% |
| 3-year (a year) | 82 | +0.5% | +1.8% | +4.8% | 100% |
| 5-year (a year) | 58 | +1.1% | +2.1% | +3.7% | 100% |
Every holding period starting at a month-end since 2017. Returns for 3 years and longer are annualized.
TBLL performance overview
Invesco Short Term Treasury ETF (TBLL) returned +3.6% over the past year and +3.7% a year over five years, with distributions reinvested. Since its first recorded price in 2017 it has returned +2.4% a year, turning $10,000 into about $12,668. Over the same year S&P 500 (SPY) returned +14.4%.
Related: TBLL chart, TBLL dividends. See the TBLL overview for the latest quote and fund facts.
TBLL performance FAQ
What is the TBLL return over the past year?
TBLL returned +3.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 0.0%.
What is the average annual return of TBLL?
TBLL has returned +3.7% a year over 5 years, +2.4% a year since January 12, 2017 (total return, distributions reinvested).
How much would $10,000 invested in TBLL be worth?
$10,000 invested in TBLL at its first recorded close on January 12, 2017 would be worth about $12,668 on October 23, 2026 with distributions reinvested.
What was the worst year for TBLL?
The worst calendar year was 2021, with a total return of +0.0%. The best was 2024 at +5.1%.
How volatile is TBLL?
Over the past 3 years TBLL had an annualized volatility of 0.3% and a Sharpe ratio of 0.02 (excess return over 1–3 month T-bills per unit of risk).