COVR.DE vs. LDCE.DE

Last updated Apr 3, 2026

Compare and contrast key facts about PIMCO Covered Bond UCITS ETF Dist (COVR.DE) and PIMCO Euro Low Duration Corporate Bond UCITS ETF Dist (LDCE.DE).

COVR.DE and LDCE.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. COVR.DE is a passively managed fund by PIMCO that tracks the performance of the PIMCO Covered Bond. It was launched on Dec 17, 2013. LDCE.DE is a passively managed fund by PIMCO that tracks the performance of the PIMCO Low Duration Euro Corporate Bond. It was launched on Nov 17, 2014. Both COVR.DE and LDCE.DE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

COVR.DE vs. LDCE.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 PIMCO Euro Low Duration Corporate Bond UCITS ETF Dist (LDCE.DE). The values are adjusted to include any dividend payments, if applicable.

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
COVR.DE PIMCO Covered Bond UCITS ETF Dist	-0.72%	2.66%	3.80%	6.11%	-12.85%	-2.27%	3.03%	3.98%	0.05%	2.43%
LDCE.DE PIMCO Euro Low Duration Corporate Bond UCITS ETF Dist	-0.69%	4.19%	4.68%	6.54%	-8.43%	0.32%	1.14%	2.80%	-0.73%	0.97%

Returns By Period

The year-to-date returns for both investments are quite close, with COVR.DE having a -0.72% return and LDCE.DE slightly higher at -0.69%. Over the past 10 years, COVR.DE has underperformed LDCE.DE with an annualized return of 0.53%, while LDCE.DE has yielded a comparatively higher 1.24% annualized return.

COVR.DE

• 1D: 0.11%
• 1M: -1.59%
• YTD: -0.72%
• 6M: -0.64%
• 1Y: 1.36%
• 3Y*: 3.43%
• 5Y*: -0.69%
• 10Y*: 0.53%

LDCE.DE

• 1D: 0.32%
• 1M: -0.83%
• YTD: -0.69%
• 6M: -0.65%
• 1Y: 2.41%
• 3Y*: 4.46%
• 5Y*: 1.09%
• 10Y*: 1.24%

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

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

COVR.DE has a 0.43% expense ratio, which is lower than LDCE.DE's 0.49% expense ratio.

LDCE.DE

PIMCO Euro Low Duration Corporate Bond UCITS ETF Dist

COVR.DE

PIMCO Covered Bond UCITS ETF Dist

Return for Risk

COVR.DE vs. LDCE.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: 23
COVR.DE Sharpe Ratio Rank: 29
COVR.DE Sortino Ratio Rank: 26
COVR.DE Omega Ratio Rank: 24
COVR.DE Calmar Ratio Rank: 15
COVR.DE Martin Ratio Rank: 18

LDCE.DE

LDCE.DE Risk / Return Rank: 36
LDCE.DE Sharpe Ratio Rank: 43
LDCE.DE Sortino Ratio Rank: 39
LDCE.DE Omega Ratio Rank: 36
LDCE.DE Calmar Ratio Rank: 27
LDCE.DE Martin Ratio Rank: 33

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. LDCE.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 PIMCO Euro Low Duration Corporate Bond UCITS ETF Dist (LDCE.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.DE	LDCE.DE	Difference
Sharpe ratio Return per unit of total volatility	0.60	0.86	-0.26
Sortino ratio Return per unit of downside risk	0.83	1.20	-0.38
Omega ratio Gain probability vs. loss probability	1.11	1.16	-0.05
Calmar ratio Return relative to maximum drawdown	0.33	0.87	-0.54
Martin ratio Return relative to average drawdown	1.45	3.77	-2.32
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. LDCE.DE - Sharpe Ratio Comparison

The current COVR.DE Sharpe Ratio is 0.60, which is lower than the LDCE.DE Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of COVR.DE and LDCE.DE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	COVR.DE	LDCE.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.60	0.86	-0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.18	0.39	-0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	0.52	-0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.58	-0.38

Correlation

The correlation between COVR.DE and LDCE.DE is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

COVR.DE vs. LDCE.DE - Dividend Comparison

COVR.DE's dividend yield for the trailing twelve months is around 2.50%, less than LDCE.DE's 3.40% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COVR.DE PIMCO Covered Bond UCITS ETF Dist	2.50%	2.43%	1.66%	0.56%	0.00%	0.00%	0.42%	1.20%	0.78%	0.57%	0.74%	0.86%
LDCE.DE PIMCO Euro Low Duration Corporate Bond UCITS ETF Dist	3.40%	3.22%	2.73%	1.72%	0.94%	0.51%	0.51%	0.63%	0.65%	0.71%	0.95%	0.93%

Drawdowns

COVR.DE vs. LDCE.DE - Drawdown Comparison

The maximum COVR.DE drawdown since its inception was -16.36%, which is greater than LDCE.DE's maximum drawdown of -11.07%. Use the drawdown chart below to compare losses from any high point for COVR.DE and LDCE.DE.

Drawdown Indicators

	COVR.DE	LDCE.DE	Difference
Max Drawdown Largest peak-to-trough decline	-16.36%	-11.07%	-5.29%
Max Drawdown (1Y) Largest decline over 1 year	-2.85%	-2.63%	-0.22%
Max Drawdown (5Y) Largest decline over 5 years	-15.69%	-11.07%	-4.62%
Max Drawdown (10Y) Largest decline over 10 years	-16.36%	-11.07%	-5.29%
Current Drawdown Current decline from peak	-4.69%	-1.77%	-2.92%
Average Drawdown Average peak-to-trough decline	-4.10%	-1.76%	-2.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	0.61%	+0.05%

Volatility

COVR.DE vs. LDCE.DE - Volatility Comparison

The current volatility for PIMCO Covered Bond UCITS ETF Dist (COVR.DE) is 1.09%, while PIMCO Euro Low Duration Corporate Bond UCITS ETF Dist (LDCE.DE) has a volatility of 1.28%. This indicates that COVR.DE experiences smaller price fluctuations and is considered to be less risky than LDCE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COVR.DE	LDCE.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.09%	1.28%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	1.61%	2.19%	-0.58%
Volatility (1Y) Calculated over the trailing 1-year period	2.25%	2.78%	-0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.72%	2.75%	+0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.95%	2.38%	+0.57%