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COVR.DE vs. IG35.DE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

COVR.DE vs. IG35.DE

Last updated Jun 5, 2026

COVR.DE (PIMCO Covered Bond UCITS ETF Dist) and IG35.DE (iShares iBonds December 2035 Term EUR Corporate UCITS ETF (Acc)) are both European Corporate Bonds funds - COVR.DE tracks the PIMCO Covered Bond while IG35.DE tracks the Bloomberg MSCI December 2035 Maturity EUR Corporate ESG Screened Index. Both are passively managed. A 0.73 correlation means they provide meaningful diversification when combined. COVR.DE charges 0.43%/yr vs 0.12%/yr for IG35.DE.

Performance

COVR.DE vs. IG35.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in PIMCO Covered Bond UCITS ETF Dist (COVR.DE) and iShares iBonds December 2035 Term EUR Corporate UCITS ETF (Acc) (IG35.DE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, COVR.DE achieves a -0.22% return, which is significantly lower than IG35.DE's 0.90% return.

COVR.DE

1D
-0.00%
1M
0.10%
YTD
-0.22%
6M
-0.38%
1Y
0.96%
3Y*
3.61%
5Y*
-0.49%
10Y*
0.53%

IG35.DE

1D
0.25%
1M
0.47%
YTD
0.90%
6M
0.78%
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

COVR.DE vs. IG35.DE - Yearly Performance Comparison

2026 (YTD)2025
COVR.DE
PIMCO Covered Bond UCITS ETF Dist		-0.22%-0.34%
IG35.DE
iShares iBonds December 2035 Term EUR Corporate UCITS ETF (Acc)		0.90%-0.54%

Correlation

The correlation between COVR.DE and IG35.DE is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (All Time)
Calculated using the full available price history since Oct 15, 2025

0.73

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PIMCO Covered Bond UCITS ETF Dist

iShares iBonds December 2035 Term EUR Corporate UCITS ETF (Acc)

Often compared with COVR.DE:
COVR.DE vs. LDCE.DECOVR.DE vs. SYBD.DECOVR.DE vs. EUHA.DECOVR.DE vs. PJSR.DECOVR.DE vs. EUHI.DECOVR.DE vs. PJS1.DECOVR.DE vs. IE3E.DE
Often compared with IG35.DE:
IG35.DE vs. IBCS.DEIG35.DE vs. EUN5.DEIG35.DE vs. JREB.DEIG35.DE vs. PR1C.DEIG35.DE vs. SYBD.DEIG35.DE vs. EFRN.DEIG35.DE vs. EXHE.DE

Return for Risk

COVR.DE vs. IG35.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
COVR.DE
COVR.DE Risk / Return Rank: 1212
Overall Rank
COVR.DE Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
COVR.DE Sortino Ratio Rank: 1111
Sortino Ratio Rank
COVR.DE Omega Ratio Rank: 1212
Omega Ratio Rank
COVR.DE Calmar Ratio Rank: 1212
Calmar Ratio Rank
COVR.DE Martin Ratio Rank: 1212
Martin Ratio Rank
IG35.DE
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.

COVR.DE vs. IG35.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 iBonds December 2035 Term EUR Corporate UCITS ETF (Acc) (IG35.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.

COVR.DEIG35.DEDifference
Sharpe ratioReturn per unit of total volatility
0.26

—

—

Sortino ratioReturn per unit of downside risk
0.38

—

—

Omega ratioGain probability vs. loss probability

1.05

—

—

Calmar ratioReturn relative to maximum drawdown

0.23

—

—

Martin ratioReturn relative to average drawdown

0.65

—

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COVR.DE vs. IG35.DE - Sharpe Ratio Comparison

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Sharpe Ratios by Period

COVR.DEIG35.DEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.26

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.13

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.18

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.21

0.11

+0.10

Drawdowns

COVR.DE vs. IG35.DE - Drawdown Comparison

The maximum COVR.DE drawdown since its inception was -16.36%, which is greater than IG35.DE's maximum drawdown of -4.08%. Use the drawdown chart below to compare losses from any high point for COVR.DE and IG35.DE.

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Drawdown Indicators

COVR.DEIG35.DEDifference

Max Drawdown

Largest peak-to-trough decline

-16.36%

-4.08%

-12.28%

Max Drawdown (1Y)

Largest decline over 1 year

-2.85%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-2.85%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-15.69%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-16.36%

—

—

Current Drawdown

Current decline from peak

-4.21%

-1.08%

-3.13%

Average Drawdown

Average peak-to-trough decline

-4.10%

-1.38%

-2.72%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.00%

—

—

Volatility

COVR.DE vs. IG35.DE - Volatility Comparison

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Volatility by Period

COVR.DEIG35.DEDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.92%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

2.11%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

2.48%

5.22%

-2.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.77%

5.22%

-1.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

2.98%

5.22%

-2.24%

COVR.DE vs. IG35.DE - Expense Ratio Comparison

COVR.DE has a 0.43% expense ratio, which is higher than IG35.DE's 0.12% expense ratio.

Dividends

COVR.DE vs. IG35.DE - Dividend Comparison

COVR.DE's dividend yield for the trailing twelve months is around 2.49%, while IG35.DE has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
COVR.DE
PIMCO Covered Bond UCITS ETF Dist		2.49%2.43%1.66%0.56%0.00%0.00%0.42%1.20%0.78%0.57%0.74%0.86%
IG35.DE
iShares iBonds December 2035 Term EUR Corporate 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%

Frequently Asked Questions

COVR.DE and IG35.DE have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IG35.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IG35.DE is cheaper with a 0.12% expense ratio, compared with 0.43% for COVR.DE.

COVR.DE tracks PIMCO Covered Bond, while IG35.DE tracks Bloomberg MSCI December 2035 Maturity EUR Corporate ESG Screened Index. They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.43% for COVR.DE and 0.12% for IG35.DE.

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