COVR.DE vs. IEXA.DE
COVR.DE (PIMCO Covered Bond UCITS ETF Dist) and IEXA.DE (iShares EUR Corporate Bond ex-Financials UCITS ETF EUR Acc) are both European Corporate Bonds funds - COVR.DE tracks the PIMCO Covered Bond while IEXA.DE tracks the Bloomberg Euro Corporate ex-Financials Bond. Both are passively managed. Over the past 3 years, COVR.DE returned 3.83%/yr vs 4.16%/yr for IEXA.DE. A 0.78 correlation means they provide meaningful diversification when combined. COVR.DE charges 0.43%/yr vs 0.20%/yr for IEXA.DE.
Performance
COVR.DE vs. IEXA.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, COVR.DE achieves a 0.53% return, which is significantly lower than IEXA.DE's 1.30% return.
COVR.DE
- 1D
- 0.02%
- 1M
- 0.61%
- YTD
- 0.53%
- 6M
- 0.69%
- 1Y
- 1.33%
- 3Y*
- 3.83%
- 5Y*
- -0.34%
- 10Y*
- 0.61%
IEXA.DE
- 1D
- 0.00%
- 1M
- 0.74%
- YTD
- 1.30%
- 6M
- 1.48%
- 1Y
- 2.24%
- 3Y*
- 4.16%
- 5Y*
- —
- 10Y*
- —
COVR.DE vs. IEXA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
COVR.DE PIMCO Covered Bond UCITS ETF Dist | 0.53% | 2.66% | 3.80% | 6.12% | -6.72% |
IEXA.DE iShares EUR Corporate Bond ex-Financials UCITS ETF EUR Acc | 1.30% | 2.47% | 3.54% | 7.38% | -5.39% |
Correlation
The correlation between COVR.DE and IEXA.DE is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since May 27, 2022 | 0.78 |
The correlation between COVR.DE and IEXA.DE shifts across timeframes, from 0.66 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
COVR.DE vs. IEXA.DE — Risk / Return Rank
COVR.DE
IEXA.DE
COVR.DE vs. IEXA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Covered Bond UCITS ETF Dist (COVR.DE) and iShares EUR Corporate Bond ex-Financials UCITS ETF EUR Acc (IEXA.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| COVR.DE | IEXA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.14 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 0.87 | -0.41 |
| Martin ratioReturn relative to average drawdown | 1.26 | 2.79 | -1.54 |
Loading charts...
Drawdowns
COVR.DE vs. IEXA.DE - Drawdown Comparison
The maximum COVR.DE drawdown since its inception was -16.37%, which is greater than IEXA.DE's maximum drawdown of -9.06%. Use the drawdown chart below to compare losses from any high point for COVR.DE and IEXA.DE.
Loading charts...
Drawdown Indicators
| COVR.DE | IEXA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.37% | -9.06% | -7.31% |
Max Drawdown (1Y)Largest decline over 1 year | -2.85% | -2.56% | -0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -2.85% | -2.56% | -0.29% |
Max Drawdown (5Y)Largest decline over 5 years | -15.70% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -16.37% | — | — |
Current DrawdownCurrent decline from peak | -3.48% | 0.00% | -3.48% |
Average DrawdownAverage peak-to-trough decline | -3.82% | -2.24% | -1.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 0.80% | +0.25% |
Volatility
COVR.DE vs. IEXA.DE - Volatility Comparison
The current volatility for PIMCO Covered Bond UCITS ETF Dist (COVR.DE) is 0.64%, while iShares EUR Corporate Bond ex-Financials UCITS ETF EUR Acc (IEXA.DE) has a volatility of 0.78%. This indicates that COVR.DE experiences smaller price fluctuations and is considered to be less risky than IEXA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| COVR.DE | IEXA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 0.78% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 2.11% | 2.77% | -0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.49% | 3.26% | -0.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.78% | 4.77% | -0.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.98% | 4.77% | -1.79% |
COVR.DE vs. IEXA.DE - Expense Ratio Comparison
COVR.DE has a 0.43% expense ratio, which is higher than IEXA.DE's 0.20% expense ratio.
Dividends
COVR.DE vs. IEXA.DE - Dividend Comparison
COVR.DE's dividend yield for the trailing twelve months is around 2.47%, while IEXA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COVR.DE PIMCO Covered Bond UCITS ETF Dist | 2.47% | 2.43% | 1.66% | 0.56% | 0.00% | 0.00% | 0.42% | 1.20% | 0.78% | 0.57% | 0.74% | 0.86% |
IEXA.DE iShares EUR Corporate Bond ex-Financials 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% |
Frequently Asked Questions
COVR.DE and IEXA.DE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEXA.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEXA.DE is cheaper with a 0.20% expense ratio, compared with 0.43% for COVR.DE.
COVR.DE tracks PIMCO Covered Bond, while IEXA.DE tracks Bloomberg Euro Corporate ex-Financials Bond. They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.43% for COVR.DE and 0.20% for IEXA.DE.
Find the right allocation for COVR.DE and IEXA.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer