CBE3.L vs. A4H8.DE
CBE3.L (iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc)) and A4H8.DE (Amundi Index Euro Corporate SRI UCITS ETF DR (C)) are both exchange-traded funds - CBE3.L is a Short-Term Bond fund tracking the Bloomberg Euro Government Bond 1-3 Year Index, while A4H8.DE is a European Corporate Bonds fund tracking the Bloomberg MSCI Euro Corporate ESG Sustainability SRI. Both are passively managed. Over the past 3 years, CBE3.L returned 2.70%/yr vs 4.47%/yr for A4H8.DE. A 0.75 correlation means they provide meaningful diversification when combined. CBE3.L charges 0.20%/yr vs 0.14%/yr for A4H8.DE.
Performance
CBE3.L vs. A4H8.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CBE3.L achieves a 0.13% return, which is significantly lower than A4H8.DE's 0.54% return.
CBE3.L
- 1D
- 0.04%
- 1M
- 0.24%
- YTD
- 0.13%
- 6M
- 0.25%
- 1Y
- 0.94%
- 3Y*
- 2.70%
- 5Y*
- 0.81%
- 10Y*
- 0.36%
A4H8.DE
- 1D
- 0.12%
- 1M
- 0.69%
- YTD
- 0.54%
- 6M
- 0.40%
- 1Y
- 1.85%
- 3Y*
- 4.47%
- 5Y*
- —
- 10Y*
- —
CBE3.L vs. A4H8.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CBE3.L iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) | 0.13% | 2.27% | 3.11% | 3.46% | -3.62% |
A4H8.DE Amundi Index Euro Corporate SRI UCITS ETF DR (C) | 0.54% | 2.94% | 4.18% | 7.09% | -8.39% |
Correlation
The correlation between CBE3.L and A4H8.DE 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 CBE3.L and A4H8.DE has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.
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Return for Risk
CBE3.L vs. A4H8.DE — Risk / Return Rank
CBE3.L
A4H8.DE
CBE3.L vs. A4H8.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) (CBE3.L) and Amundi Index Euro Corporate SRI UCITS ETF DR (C) (A4H8.DE). 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.
| CBE3.L | A4H8.DE | 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 | 1.16 | 1.12 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.85 | 0.73 | +0.12 |
| Martin ratioReturn relative to average drawdown | 2.81 | 2.44 | +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
| CBE3.L | A4H8.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 0.62 | +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 | 0.44 | 0.27 | +0.17 |
Drawdowns
CBE3.L vs. A4H8.DE - Drawdown Comparison
The maximum CBE3.L drawdown since its inception was -6.12%, smaller than the maximum A4H8.DE drawdown of -11.35%. Use the drawdown chart below to compare losses from any high point for CBE3.L and A4H8.DE.
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Drawdown Indicators
| CBE3.L | A4H8.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.12% | -11.35% | +5.23% |
Max Drawdown (1Y)Largest decline over 1 year | -1.10% | -2.52% | +1.42% |
Max Drawdown (3Y)Largest decline over 3 years | -1.10% | -2.52% | +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 | -0.42% | -0.68% | +0.26% |
Average DrawdownAverage peak-to-trough decline | -1.06% | -3.48% | +2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.34% | 0.76% | -0.42% |
Volatility
CBE3.L vs. A4H8.DE - Volatility Comparison
The current volatility for iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) (CBE3.L) is 0.41%, while Amundi Index Euro Corporate SRI UCITS ETF DR (C) (A4H8.DE) has a volatility of 1.11%. This indicates that CBE3.L experiences smaller price fluctuations and is considered to be less risky than A4H8.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBE3.L | A4H8.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 1.11% | -0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 1.08% | 2.59% | -1.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.19% | 2.97% | -1.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.51% | 4.91% | -3.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.28% | 4.91% | -3.63% |
CBE3.L vs. A4H8.DE - Expense Ratio Comparison
CBE3.L has a 0.20% expense ratio, which is higher than A4H8.DE's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CBE3.L vs. A4H8.DE - Dividend Comparison
Neither CBE3.L nor A4H8.DE has paid dividends to shareholders.
Frequently Asked Questions
CBE3.L and A4H8.DE 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.
CBE3.L is categorized as Short-Term Bond, while A4H8.DE is European Corporate Bonds. CBE3.L tracks Bloomberg Euro Government Bond 1-3 Year Index, while A4H8.DE tracks Bloomberg MSCI Euro Corporate ESG Sustainability SRI. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.20% for CBE3.L and 0.14% for A4H8.DE.
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