CE31.L vs. PRIR.L
CE31.L (iShares Euro Government Bond 1-3yr UCITS ETF (Acc)) and PRIR.L (Amundi Prime Euro Govies UCITS ETF DR (D)) are both European Government Bonds funds - CE31.L tracks the Bloomberg Euro Agg Govt 1-3 Yr TR EUR while PRIR.L tracks the Bloomberg Euro Agg Govt TR EUR. Both are passively managed. Over the past 5 years, CE31.L returned 0.96%/yr vs -2.07%/yr for PRIR.L. At a 0.43 correlation, their price movements are largely independent. CE31.L charges 0.15%/yr vs 0.05%/yr for PRIR.L.
Performance
CE31.L vs. PRIR.L - Performance Comparison
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Returns By Period
In the year-to-date period, CE31.L achieves a -0.69% return, which is significantly higher than PRIR.L's -0.78% return.
CE31.L
- 1D
- 0.18%
- 1M
- 0.53%
- YTD
- -0.69%
- 6M
- -0.65%
- 1Y
- 3.69%
- 3Y*
- 2.80%
- 5Y*
- 0.96%
- 10Y*
- 1.34%
PRIR.L
- 1D
- 0.24%
- 1M
- 0.90%
- YTD
- -0.78%
- 6M
- -0.88%
- 1Y
- 2.66%
- 3Y*
- 2.43%
- 5Y*
- -2.07%
- 10Y*
- —
CE31.L vs. PRIR.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CE31.L iShares Euro Government Bond 1-3yr UCITS ETF (Acc) | -0.69% | 7.55% | -1.61% | 1.46% | 1.17% | -7.40% | 5.40% | -1.51% |
PRIR.L Amundi Prime Euro Govies UCITS ETF DR (D) | -0.78% | 5.74% | -3.03% | 4.65% | -13.31% | -10.41% | 10.86% | 3.33% |
Correlation
The correlation between CE31.L and PRIR.L is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Apr 17, 2019 | 0.43 |
Over the past year, CE31.L and PRIR.L have become more correlated (0.76) than their long-term average of 0.43, meaning their price movements have been converging.
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Return for Risk
CE31.L vs. PRIR.L — Risk / Return Rank
CE31.L
PRIR.L
CE31.L vs. PRIR.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Government Bond 1-3yr UCITS ETF (Acc) (CE31.L) and Amundi Prime Euro Govies UCITS ETF DR (D) (PRIR.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.
| CE31.L | PRIR.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.08 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 0.59 | +0.81 |
| Martin ratioReturn relative to average drawdown | 3.13 | 1.36 | +1.78 |
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
| CE31.L | PRIR.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.88 | 0.49 | +0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | -0.31 | +0.49 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | -0.12 | +0.20 |
Drawdowns
CE31.L vs. PRIR.L - Drawdown Comparison
The maximum CE31.L drawdown since its inception was -18.33%, smaller than the maximum PRIR.L drawdown of -25.98%. Use the drawdown chart below to compare losses from any high point for CE31.L and PRIR.L.
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Drawdown Indicators
| CE31.L | PRIR.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.33% | -25.98% | +7.65% |
Max Drawdown (1Y)Largest decline over 1 year | -2.62% | -4.70% | +2.08% |
Max Drawdown (3Y)Largest decline over 3 years | -3.05% | -6.17% | +3.12% |
Max Drawdown (5Y)Largest decline over 5 years | -5.98% | -20.58% | +14.60% |
Max Drawdown (10Y)Largest decline over 10 years | -13.14% | — | — |
Current DrawdownCurrent decline from peak | -3.78% | -18.21% | +14.43% |
Average DrawdownAverage peak-to-trough decline | -7.24% | -18.53% | +11.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 2.01% | -0.84% |
Volatility
CE31.L vs. PRIR.L - Volatility Comparison
The current volatility for iShares Euro Government Bond 1-3yr UCITS ETF (Acc) (CE31.L) is 1.27%, while Amundi Prime Euro Govies UCITS ETF DR (D) (PRIR.L) has a volatility of 1.81%. This indicates that CE31.L experiences smaller price fluctuations and is considered to be less risky than PRIR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CE31.L | PRIR.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | 1.81% | -0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 4.31% | -1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.18% | 5.71% | -1.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.29% | 8.66% | -3.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.07% | 10.68% | -3.61% |
CE31.L vs. PRIR.L - Expense Ratio Comparison
CE31.L has a 0.15% expense ratio, which is higher than PRIR.L's 0.05% 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
CE31.L vs. PRIR.L - Dividend Comparison
CE31.L has not paid dividends to shareholders, while PRIR.L's dividend yield for the trailing twelve months is around 2.75%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CE31.L iShares Euro Government Bond 1-3yr UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PRIR.L Amundi Prime Euro Govies UCITS ETF DR (D) | 2.75% | 2.72% | 2.07% | 1.88% | 1.83% | 1.57% | 1.64% | 1.05% |
Frequently Asked Questions
CE31.L and PRIR.L have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PRIR.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PRIR.L is cheaper with a 0.05% expense ratio, compared with 0.15% for CE31.L.
CE31.L tracks Bloomberg Euro Agg Govt 1-3 Yr TR EUR, while PRIR.L tracks Bloomberg Euro Agg Govt TR EUR. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.15% for CE31.L and 0.05% for PRIR.L.
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