CE31.L vs. SEGA.L
CE31.L (iShares Euro Government Bond 1-3yr UCITS ETF (Acc)) and SEGA.L (iShares Core Euro Government Bond UCITS ETF (Dist)) are both European Government Bonds funds from iShares - CE31.L tracks the Bloomberg Euro Agg Govt 1-3 Yr TR EUR while SEGA.L tracks the Bloomberg Euro Agg Govt TR EUR. Both are passively managed. Over the past 10 years, CE31.L returned 1.34%/yr vs 0.52%/yr for SEGA.L. Their correlation of 0.84 suggests significant overlap in exposure. CE31.L charges 0.15%/yr vs 0.09%/yr for SEGA.L.
Performance
CE31.L vs. SEGA.L - Performance Comparison
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Different Trading Currencies
CE31.L is traded in GBp, while SEGA.L is traded in GBP. To make them comparable, the SEGA.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, CE31.L achieves a -0.69% return, which is significantly higher than SEGA.L's -2.14% return. Over the past 10 years, CE31.L has outperformed SEGA.L with an annualized return of 1.34%, while SEGA.L has yielded a comparatively lower 0.52% annualized 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%
SEGA.L
- 1D
- 0.21%
- 1M
- 0.89%
- YTD
- -2.14%
- 6M
- -2.17%
- 1Y
- 1.39%
- 3Y*
- 2.02%
- 5Y*
- -2.37%
- 10Y*
- 0.52%
CE31.L vs. SEGA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | -4.80% | 0.64% | 3.54% |
SEGA.L iShares Core Euro Government Bond UCITS ETF (Dist) | -2.14% | 5.88% | -2.94% | 4.76% | -13.69% | -9.85% | 10.69% | 1.45% | 1.62% | 3.47% |
Correlation
The correlation between CE31.L and SEGA.L is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2013 | 0.84 |
The correlation between CE31.L and SEGA.L shifts across timeframes, from 0.71 (5 years) to 0.84 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CE31.L vs. SEGA.L — Risk / Return Rank
CE31.L
SEGA.L
CE31.L vs. SEGA.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 iShares Core Euro Government Bond UCITS ETF (Dist) (SEGA.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 | SEGA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.63 | ||
| Sortino ratioReturn per unit of downside risk | +0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.05 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 0.27 | +1.13 |
| Martin ratioReturn relative to average drawdown | 3.13 | 0.57 | +2.56 |
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 | SEGA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.88 | 0.25 | +0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | -0.32 | +0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 0.06 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | 0.16 | -0.08 |
Drawdowns
CE31.L vs. SEGA.L - Drawdown Comparison
The maximum CE31.L drawdown since its inception was -18.33%, smaller than the maximum SEGA.L drawdown of -26.75%. Use the drawdown chart below to compare losses from any high point for CE31.L and SEGA.L.
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Drawdown Indicators
| CE31.L | SEGA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.33% | -26.75% | +8.42% |
Max Drawdown (1Y)Largest decline over 1 year | -2.62% | -5.13% | +2.51% |
Max Drawdown (3Y)Largest decline over 3 years | -3.05% | -6.26% | +3.21% |
Max Drawdown (5Y)Largest decline over 5 years | -5.98% | -20.85% | +14.87% |
Max Drawdown (10Y)Largest decline over 10 years | -13.14% | -26.75% | +13.61% |
Current DrawdownCurrent decline from peak | -3.78% | -19.89% | +16.11% |
Average DrawdownAverage peak-to-trough decline | -7.24% | -10.41% | +3.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 2.42% | -1.25% |
Volatility
CE31.L vs. SEGA.L - Volatility Comparison
The current volatility for iShares Euro Government Bond 1-3yr UCITS ETF (Acc) (CE31.L) is 1.27%, while iShares Core Euro Government Bond UCITS ETF (Dist) (SEGA.L) has a volatility of 1.77%. This indicates that CE31.L experiences smaller price fluctuations and is considered to be less risky than SEGA.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 | SEGA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | 1.77% | -0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 4.34% | -1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.18% | 5.55% | -1.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.29% | 7.48% | -2.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.07% | 8.50% | -1.43% |
CE31.L vs. SEGA.L - Expense Ratio Comparison
CE31.L has a 0.15% expense ratio, which is higher than SEGA.L's 0.09% 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. SEGA.L - Dividend Comparison
CE31.L has not paid dividends to shareholders, while SEGA.L's dividend yield for the trailing twelve months is around 1.19%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% | 0.00% |
SEGA.L iShares Core Euro Government Bond UCITS ETF (Dist) | 1.19% | 2.25% | 1.82% | 0.97% | 0.26% | 0.25% | 0.45% | 0.68% | 0.65% | 0.69% | 0.86% | 0.60% |
Frequently Asked Questions
CE31.L and SEGA.L have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SEGA.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SEGA.L is cheaper with a 0.09% expense ratio, compared with 0.15% for CE31.L.
CE31.L tracks Bloomberg Euro Agg Govt 1-3 Yr TR EUR, while SEGA.L tracks Bloomberg Euro Agg Govt TR EUR. Their fees differ too: 0.15% for CE31.L and 0.09% for SEGA.L.
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