CBUS.DE vs. IBCA.DE

Last updated Jun 5, 2026

CBUS.DE (iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist) and IBCA.DE (iShares Euro Government Bond 1-3yr UCITS ETF (Dist)) are both European Government Bonds funds from iShares - CBUS.DE tracks the FTSE Actuaries UK Conventional Gilts All Stocks (EUR Hedged) while IBCA.DE tracks the Bloomberg Euro Government Bond 1-3. Both are passively managed. Over the past 3 years, CBUS.DE returned 0.65%/yr vs 2.71%/yr for IBCA.DE. A 0.59 correlation means they provide meaningful diversification when combined. CBUS.DE charges 0.09%/yr vs 0.15%/yr for IBCA.DE.

Performance

CBUS.DE vs. IBCA.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist (CBUS.DE) and iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CBUS.DE achieves a -1.94% return, which is significantly lower than IBCA.DE's 0.16% return.

CBUS.DE

• 1D: 0.20%
• 1M: 0.46%
• YTD: -1.94%
• 6M: -1.87%
• 1Y: 0.16%
• 3Y*: 0.65%
• 5Y*: —
• 10Y*: —

IBCA.DE

• 1D: 0.06%
• 1M: 0.09%
• YTD: 0.16%
• 6M: 0.30%
• 1Y: 1.12%
• 3Y*: 2.71%
• 5Y*: 0.81%
• 10Y*: 0.36%

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

CBUS.DE vs. IBCA.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CBUS.DE iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist	-1.94%	3.15%	-5.02%	2.14%	5.57%
IBCA.DE iShares Euro Government Bond 1-3yr UCITS ETF (Dist)	0.16%	2.31%	3.05%	3.50%	-0.24%

Correlation

The correlation between CBUS.DE and IBCA.DE is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (All Time) Calculated using the full available price history since Oct 10, 2022	0.59

The correlation between CBUS.DE and IBCA.DE has been stable across timeframes, ranging from 0.57 to 0.59 - a consistent structural relationship.

Return for Risk

CBUS.DE vs. IBCA.DE — Risk / Return Rank

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

CBUS.DE

CBUS.DE Risk / Return Rank: 9
CBUS.DE Sharpe Ratio Rank: 9
CBUS.DE Sortino Ratio Rank: 8
CBUS.DE Omega Ratio Rank: 8
CBUS.DE Calmar Ratio Rank: 9
CBUS.DE Martin Ratio Rank: 9

IBCA.DE

IBCA.DE Risk / Return Rank: 21
IBCA.DE Sharpe Ratio Rank: 21
IBCA.DE Sortino Ratio Rank: 20
IBCA.DE Omega Ratio Rank: 23
IBCA.DE Calmar Ratio Rank: 20
IBCA.DE Martin Ratio Rank: 22

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.

CBUS.DE vs. IBCA.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist (CBUS.DE) and iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.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.

	CBUS.DE	IBCA.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.01	0.71	-0.69
Sortino ratio: Return per unit of downside risk	0.06	1.02	-0.95
Omega ratio: Gain probability vs. loss probability	1.01	1.15	-0.14
Calmar ratio: Return relative to maximum drawdown	0.02	0.84	-0.82
Martin ratio: Return relative to average drawdown	0.04	2.70	-2.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CBUS.DE vs. IBCA.DE - Sharpe Ratio Comparison

The current CBUS.DE Sharpe Ratio is 0.01, which is lower than the IBCA.DE Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of CBUS.DE and IBCA.DE, 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

	CBUS.DE	IBCA.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.01	0.71	-0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.52	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.25	-0.13

Drawdowns

CBUS.DE vs. IBCA.DE - Drawdown Comparison

The maximum CBUS.DE drawdown since its inception was -12.79%, which is greater than IBCA.DE's maximum drawdown of -8.31%. Use the drawdown chart below to compare losses from any high point for CBUS.DE and IBCA.DE.

Drawdown Indicators

	CBUS.DE	IBCA.DE	Difference
Max Drawdown Largest peak-to-trough decline	-12.79%	-8.31%	-4.48%
Max Drawdown (1Y) Largest decline over 1 year	-5.66%	-1.14%	-4.52%
Max Drawdown (3Y) Largest decline over 3 years	-7.48%	-1.14%	-6.34%
Max Drawdown (5Y) Largest decline over 5 years	—	-5.21%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-8.31%	—
Current Drawdown Current decline from peak	-7.94%	-0.45%	-7.49%
Average Drawdown Average peak-to-trough decline	-7.22%	-1.03%	-6.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	0.36%	+1.82%

Volatility

CBUS.DE vs. IBCA.DE - Volatility Comparison

iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist (CBUS.DE) has a higher volatility of 2.39% compared to iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.DE) at 0.64%. This indicates that CBUS.DE's price experiences larger fluctuations and is considered to be riskier than IBCA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CBUS.DE	IBCA.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.39%	0.64%	+1.75%
Volatility (6M) Calculated over the trailing 6-month period	4.93%	1.27%	+3.66%
Volatility (1Y) Calculated over the trailing 1-year period	6.13%	1.36%	+4.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.34%	1.55%	+6.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.34%	3.81%	+4.53%

CBUS.DE vs. IBCA.DE - Expense Ratio Comparison

CBUS.DE has a 0.09% expense ratio, which is lower than IBCA.DE's 0.15% 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

CBUS.DE vs. IBCA.DE - Dividend Comparison

CBUS.DE's dividend yield for the trailing twelve months is around 4.52%, more than IBCA.DE's 2.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CBUS.DE iShares Core UK Gilts UCITS ETF (EUR Hedged) Dist	4.52%	4.23%	3.74%	2.40%	0.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IBCA.DE iShares Euro Government Bond 1-3yr UCITS ETF (Dist)	2.18%	2.45%	2.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.04%	0.29%

Frequently Asked Questions

Can I hold both CBUS.DE and IBCA.DE in my portfolio?

CBUS.DE and IBCA.DE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CBUS.DE or IBCA.DE?

On fees, CBUS.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CBUS.DE or IBCA.DE?

CBUS.DE is cheaper with a 0.09% expense ratio, compared with 0.15% for IBCA.DE.

What is the main difference between CBUS.DE and IBCA.DE?

CBUS.DE tracks FTSE Actuaries UK Conventional Gilts All Stocks (EUR Hedged), while IBCA.DE tracks Bloomberg Euro Government Bond 1-3. Their fees differ too: 0.09% for CBUS.DE and 0.15% for IBCA.DE.