DE5A.DE vs. IBCN.DE

Last updated Apr 3, 2026

Compare and contrast key facts about Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR (DE5A.DE) and iShares Euro Government Bond 3-5yr UCITS ETF (IBCN.DE).

DE5A.DE and IBCN.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DE5A.DE is a passively managed fund by Amundi that tracks the performance of the FTSE Highest-Rated Eurozone Government Bond. It was launched on Feb 27, 2018. IBCN.DE is a passively managed fund by iShares that tracks the performance of the Bloomberg Euro Government Bond 5. It was launched on Dec 8, 2006. Both DE5A.DE and IBCN.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

DE5A.DE vs. IBCN.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR (DE5A.DE) and iShares Euro Government Bond 3-5yr UCITS ETF (IBCN.DE). The values are adjusted to include any dividend payments, if applicable.

DE5A.DE vs. IBCN.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DE5A.DE Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR	-0.09%	-0.65%	-0.40%	5.80%	-19.06%	-3.67%	3.70%	4.28%	1.66%	-0.73%
IBCN.DE iShares Euro Government Bond 3-5yr UCITS ETF	-0.41%	2.24%	2.15%	5.23%	-10.13%	-1.37%	1.01%	1.69%	0.69%	0.45%

Returns By Period

In the year-to-date period, DE5A.DE achieves a -0.09% return, which is significantly higher than IBCN.DE's -0.41% return. Over the past 10 years, DE5A.DE has underperformed IBCN.DE with an annualized return of -1.20%, while IBCN.DE has yielded a comparatively higher 0.14% annualized return.

DE5A.DE

• 1D: -0.00%
• 1M: -1.37%
• YTD: -0.09%
• 6M: -0.34%
• 1Y: 0.48%
• 3Y*: 0.79%
• 5Y*: -3.46%
• 10Y*: -1.20%

IBCN.DE

• 1D: 0.11%
• 1M: -1.18%
• YTD: -0.41%
• 6M: -0.33%
• 1Y: 1.21%
• 3Y*: 2.50%
• 5Y*: -0.54%
• 10Y*: 0.14%

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

DE5A.DE vs. IBCN.DE - Expense Ratio Comparison

DE5A.DE has a 0.14% expense ratio, which is lower than IBCN.DE's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

IBCN.DE

iShares Euro Government Bond 3-5yr UCITS ETF

DE5A.DE

Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR

Return for Risk

DE5A.DE vs. IBCN.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DE5A.DE

DE5A.DE Risk / Return Rank: 12
DE5A.DE Sharpe Ratio Rank: 14
DE5A.DE Sortino Ratio Rank: 12
DE5A.DE Omega Ratio Rank: 12
DE5A.DE Calmar Ratio Rank: 11
DE5A.DE Martin Ratio Rank: 11

IBCN.DE

IBCN.DE Risk / Return Rank: 22
IBCN.DE Sharpe Ratio Rank: 28
IBCN.DE Sortino Ratio Rank: 23
IBCN.DE Omega Ratio Rank: 23
IBCN.DE Calmar Ratio Rank: 16
IBCN.DE Martin Ratio Rank: 19

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.

DE5A.DE vs. IBCN.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR (DE5A.DE) and iShares Euro Government Bond 3-5yr UCITS ETF (IBCN.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.

	DE5A.DE	IBCN.DE	Difference
Sharpe ratio Return per unit of total volatility	0.13	0.55	-0.42
Sortino ratio Return per unit of downside risk	0.20	0.74	-0.54
Omega ratio Gain probability vs. loss probability	1.02	1.10	-0.08
Calmar ratio Return relative to maximum drawdown	0.01	0.35	-0.34
Martin ratio Return relative to average drawdown	0.02	1.44	-1.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DE5A.DE vs. IBCN.DE - Sharpe Ratio Comparison

The current DE5A.DE Sharpe Ratio is 0.13, which is lower than the IBCN.DE Sharpe Ratio of 0.55. The chart below compares the historical Sharpe Ratios of DE5A.DE and IBCN.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

	DE5A.DE	IBCN.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.13	0.55	-0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.54	-0.15	-0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.23	0.05	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.45	-0.23

Correlation

The correlation between DE5A.DE and IBCN.DE is 0.69, 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

DE5A.DE vs. IBCN.DE - Dividend Comparison

DE5A.DE has not paid dividends to shareholders, while IBCN.DE's dividend yield for the trailing twelve months is around 2.52%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DE5A.DE Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IBCN.DE iShares Euro Government Bond 3-5yr UCITS ETF	2.52%	2.51%	2.61%	0.80%	0.00%	0.00%	0.00%	0.07%	0.12%	0.08%	0.13%	0.61%

Drawdowns

DE5A.DE vs. IBCN.DE - Drawdown Comparison

The maximum DE5A.DE drawdown since its inception was -24.92%, which is greater than IBCN.DE's maximum drawdown of -12.52%. Use the drawdown chart below to compare losses from any high point for DE5A.DE and IBCN.DE.

Drawdown Indicators

	DE5A.DE	IBCN.DE	Difference
Max Drawdown Largest peak-to-trough decline	-24.92%	-12.52%	-12.40%
Max Drawdown (1Y) Largest decline over 1 year	-3.13%	-2.41%	-0.72%
Max Drawdown (5Y) Largest decline over 5 years	-22.78%	-12.15%	-10.63%
Max Drawdown (10Y) Largest decline over 10 years	-24.92%	-12.52%	-12.40%
Current Drawdown Current decline from peak	-19.72%	-3.38%	-16.34%
Average Drawdown Average peak-to-trough decline	-7.16%	-2.32%	-4.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.13%	0.58%	+0.55%

Volatility

DE5A.DE vs. IBCN.DE - Volatility Comparison

Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR (DE5A.DE) has a higher volatility of 1.73% compared to iShares Euro Government Bond 3-5yr UCITS ETF (IBCN.DE) at 1.19%. This indicates that DE5A.DE's price experiences larger fluctuations and is considered to be riskier than IBCN.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DE5A.DE	IBCN.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.73%	1.19%	+0.54%
Volatility (6M) Calculated over the trailing 6-month period	2.50%	1.54%	+0.96%
Volatility (1Y) Calculated over the trailing 1-year period	3.79%	2.20%	+1.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.36%	3.55%	+2.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.32%	2.91%	+2.41%