A4H8.DE vs. CBE3.L
A4H8.DE (Amundi Index Euro Corporate SRI UCITS ETF DR (C)) and CBE3.L (iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc)) are both exchange-traded funds - A4H8.DE is a European Corporate Bonds fund tracking the Bloomberg MSCI Euro Corporate ESG Sustainability SRI, while CBE3.L is a Short-Term Bond fund tracking the Bloomberg Euro Government Bond 1-3 Year Index. Both are passively managed. Over the past 3 years, A4H8.DE returned 4.47%/yr vs 2.70%/yr for CBE3.L. A 0.75 correlation means they provide meaningful diversification when combined. A4H8.DE charges 0.14%/yr vs 0.20%/yr for CBE3.L.
Performance
A4H8.DE vs. CBE3.L - Performance Comparison
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Returns By Period
In the year-to-date period, A4H8.DE achieves a 0.54% return, which is significantly higher than CBE3.L's 0.13% return.
A4H8.DE
- 1D
- 0.12%
- 1M
- 0.26%
- YTD
- 0.54%
- 6M
- 0.48%
- 1Y
- 2.16%
- 3Y*
- 4.47%
- 5Y*
- —
- 10Y*
- —
CBE3.L
- 1D
- 0.04%
- 1M
- 0.05%
- YTD
- 0.13%
- 6M
- 0.31%
- 1Y
- 1.05%
- 3Y*
- 2.70%
- 5Y*
- 0.81%
- 10Y*
- 0.36%
A4H8.DE vs. CBE3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
A4H8.DE Amundi Index Euro Corporate SRI UCITS ETF DR (C) | 0.54% | 2.94% | 4.18% | 7.09% | -8.39% |
CBE3.L iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) | 0.13% | 2.27% | 3.11% | 3.46% | -3.62% |
Correlation
The correlation between A4H8.DE and CBE3.L is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Mar 23, 2022 | 0.75 |
The correlation between A4H8.DE and CBE3.L has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.
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Return for Risk
A4H8.DE vs. CBE3.L — Risk / Return Rank
A4H8.DE
CBE3.L
A4H8.DE vs. CBE3.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Index Euro Corporate SRI UCITS ETF DR (C) (A4H8.DE) and iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) (CBE3.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| A4H8.DE | CBE3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.16 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.73 | 0.85 | -0.12 |
| Martin ratioReturn relative to average drawdown | 2.44 | 2.81 | -0.37 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| A4H8.DE | CBE3.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.62 | 0.79 | -0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.53 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.28 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.44 | -0.17 |
Drawdowns
A4H8.DE vs. CBE3.L - Drawdown Comparison
The maximum A4H8.DE drawdown since its inception was -11.35%, which is greater than CBE3.L's maximum drawdown of -6.12%. Use the drawdown chart below to compare losses from any high point for A4H8.DE and CBE3.L.
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Drawdown Indicators
| A4H8.DE | CBE3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.35% | -6.12% | -5.23% |
Max Drawdown (1Y)Largest decline over 1 year | -2.52% | -1.10% | -1.42% |
Max Drawdown (3Y)Largest decline over 3 years | -2.52% | -1.10% | -1.42% |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.19% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -6.12% | — |
Current DrawdownCurrent decline from peak | -0.68% | -0.42% | -0.26% |
Average DrawdownAverage peak-to-trough decline | -3.48% | -1.06% | -2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 0.34% | +0.42% |
Volatility
A4H8.DE vs. CBE3.L - Volatility Comparison
Amundi Index Euro Corporate SRI UCITS ETF DR (C) (A4H8.DE) has a higher volatility of 1.11% compared to iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) (CBE3.L) at 0.41%. This indicates that A4H8.DE's price experiences larger fluctuations and is considered to be riskier than CBE3.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| A4H8.DE | CBE3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.11% | 0.41% | +0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 2.59% | 1.08% | +1.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.97% | 1.19% | +1.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.91% | 1.51% | +3.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.91% | 1.28% | +3.63% |
A4H8.DE vs. CBE3.L - Expense Ratio Comparison
A4H8.DE has a 0.14% expense ratio, which is lower than CBE3.L's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
A4H8.DE vs. CBE3.L - Dividend Comparison
Neither A4H8.DE nor CBE3.L has paid dividends to shareholders.
Frequently Asked Questions
A4H8.DE and CBE3.L have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, A4H8.DE is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
A4H8.DE is cheaper with a 0.14% expense ratio, compared with 0.20% for CBE3.L.
A4H8.DE is categorized as European Corporate Bonds, while CBE3.L is Short-Term Bond. A4H8.DE tracks Bloomberg MSCI Euro Corporate ESG Sustainability SRI, while CBE3.L tracks Bloomberg Euro Government Bond 1-3 Year Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.14% for A4H8.DE and 0.20% for CBE3.L.
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