CBE3.L vs. KO

Last updated Jun 5, 2026

CBE3.L (iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc)) is Short-Term Bond fund tracking the Bloomberg Euro Government Bond 1-3 Year Index, while KO (The Coca-Cola Company) is a stock. Over the past 10 years, CBE3.L returned 0.36%/yr vs 8.52%/yr for KO. At a 0.08 correlation, their price movements are largely independent.

Performance

CBE3.L vs. KO - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) (CBE3.L) and The Coca-Cola Company (KO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CBE3.L is traded in EUR, while KO is traded in USD. To make them comparable, the KO values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, CBE3.L achieves a 0.13% return, which is significantly lower than KO's 11.90% return. Over the past 10 years, CBE3.L has underperformed KO with an annualized return of 0.36%, while KO has yielded a comparatively higher 8.52% annualized 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%

KO

• 1D: -2.60%
• 1M: -1.46%
• YTD: 11.90%
• 6M: 10.09%
• 1Y: 8.90%
• 3Y*: 8.45%
• 5Y*: 10.67%
• 10Y*: 8.52%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CBE3.L vs. KO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CBE3.L iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc)	0.13%	2.27%	3.11%	3.46%	-4.26%	-0.83%	-0.15%	0.18%	-0.33%	0.06%
KO The Coca-Cola Company	11.90%	1.88%	16.06%	-7.30%	17.46%	19.70%	-5.98%	23.32%	11.79%	0.33%

Correlation

The correlation between CBE3.L and KO is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (3Y) Calculated over the trailing 3-year period	-0.00
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (10Y) Calculated over the trailing 10-year period	0.06
Correlation (All Time) Calculated using the full available price history since May 14, 2013	0.08

The correlation between CBE3.L and KO shifts across timeframes, from -0.04 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CBE3.L vs. KO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CBE3.L

CBE3.L Risk / Return Rank: 23
CBE3.L Sharpe Ratio Rank: 24
CBE3.L Sortino Ratio Rank: 23
CBE3.L Omega Ratio Rank: 24
CBE3.L Calmar Ratio Rank: 21
CBE3.L Martin Ratio Rank: 23

KO

KO Risk / Return Rank: 62
KO Sharpe Ratio Rank: 64
KO Sortino Ratio Rank: 58
KO Omega Ratio Rank: 54
KO Calmar Ratio Rank: 68
KO Martin Ratio Rank: 65

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CBE3.L vs. KO - 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 The Coca-Cola Company (KO). 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	KO	Difference
Sharpe ratio: Return per unit of total volatility	0.79	0.54	+0.26
Sortino ratio: Return per unit of downside risk	1.20	0.95	+0.25
Omega ratio: Gain probability vs. loss probability	1.16	1.10	+0.06
Calmar ratio: Return relative to maximum drawdown	0.85	0.85	0.00
Martin ratio: Return relative to average drawdown	2.81	1.84	+0.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CBE3.L vs. KO - Sharpe Ratio Comparison

The current CBE3.L Sharpe Ratio is 0.79, which is higher than the KO Sharpe Ratio of 0.54. The chart below compares the historical Sharpe Ratios of CBE3.L and KO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CBE3.L	KO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.79	0.54	+0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.65	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.46	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.51	-0.08

Drawdowns

CBE3.L vs. KO - Drawdown Comparison

The maximum CBE3.L drawdown since its inception was -6.12%, smaller than the maximum KO drawdown of -36.27%. Use the drawdown chart below to compare losses from any high point for CBE3.L and KO.

Drawdown Indicators

	CBE3.L	KO	Difference
Max Drawdown Largest peak-to-trough decline	-6.12%	-36.27%	+30.15%
Max Drawdown (1Y) Largest decline over 1 year	-1.10%	-10.52%	+9.42%
Max Drawdown (3Y) Largest decline over 3 years	-1.10%	-17.22%	+16.12%
Max Drawdown (5Y) Largest decline over 5 years	-5.19%	-20.59%	+15.40%
Max Drawdown (10Y) Largest decline over 10 years	-6.12%	-36.27%	+30.15%
Current Drawdown Current decline from peak	-0.42%	-6.28%	+5.86%
Average Drawdown Average peak-to-trough decline	-1.06%	-8.17%	+7.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.34%	4.85%	-4.51%

Volatility

CBE3.L vs. KO - Volatility Comparison

The current volatility for iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) (CBE3.L) is 0.41%, while The Coca-Cola Company (KO) has a volatility of 5.39%. This indicates that CBE3.L experiences smaller price fluctuations and is considered to be less risky than KO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CBE3.L	KO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.41%	5.39%	-4.98%
Volatility (6M) Calculated over the trailing 6-month period	1.08%	12.53%	-11.45%
Volatility (1Y) Calculated over the trailing 1-year period	1.19%	16.65%	-15.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.51%	16.38%	-14.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.28%	18.69%	-17.41%

Dividends

CBE3.L vs. KO - Dividend Comparison

CBE3.L has not paid dividends to shareholders, while KO's dividend yield for the trailing twelve months is around 2.68%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CBE3.L iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
KO The Coca-Cola Company	2.68%	2.92%	3.12%	3.12%	2.77%	2.84%	2.99%	2.89%	3.29%	3.23%	3.38%	3.07%

Frequently Asked Questions

Can I hold both CBE3.L and KO in my portfolio?

CBE3.L and KO have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.