ECMA.DE vs. EHBA.DE
ECMA.DE (Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc) and EHBA.DE (Invesco Euro Corporate Hybrid Bond UCITS ETF Acc) are both European Corporate Bonds funds from Invesco - ECMA.DE tracks the Invesco EUR Corporate Bond ESG Multi-Factor while EHBA.DE tracks the Bloomberg Euro Universal Corporate ex Financials Hybrid Capital Securities 8% Capped Bond Index. Both are passively managed. Over the past 3 years, ECMA.DE returned 4.37%/yr vs 8.01%/yr for EHBA.DE. At a 0.48 correlation, their price movements are largely independent. ECMA.DE charges 0.19%/yr vs 0.39%/yr for EHBA.DE.
Performance
ECMA.DE vs. EHBA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ECMA.DE achieves a 0.46% return, which is significantly lower than EHBA.DE's 0.92% return.
ECMA.DE
- 1D
- 0.00%
- 1M
- -0.48%
- 6M
- -0.04%
- YTD
- 0.46%
- 1Y
- 1.27%
- 3Y*
- 4.37%
- 5Y*
- —
- 10Y*
- —
EHBA.DE
- 1D
- 0.07%
- 1M
- -0.46%
- 6M
- 0.55%
- YTD
- 0.92%
- 1Y
- 3.13%
- 3Y*
- 8.01%
- 5Y*
- 1.71%
- 10Y*
- —
ECMA.DE vs. EHBA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ECMA.DE Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc | 0.46% | 2.90% | 4.30% | 7.06% | -0.85% |
EHBA.DE Invesco Euro Corporate Hybrid Bond UCITS ETF Acc | 0.92% | 5.24% | 10.78% | 9.40% | 0.37% |
Correlation
The correlation between ECMA.DE and EHBA.DE is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2022 | 0.48 |
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Return for Risk
ECMA.DE vs. EHBA.DE — Risk / Return Rank
ECMA.DE
EHBA.DE
ECMA.DE vs. EHBA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc (ECMA.DE) and Invesco Euro Corporate Hybrid Bond UCITS ETF Acc (EHBA.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.
| ECMA.DE | EHBA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.14 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.47 | 0.84 | -0.36 |
| Martin ratioReturn relative to average drawdown | 1.55 | 2.95 | -1.40 |
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Drawdowns
ECMA.DE vs. EHBA.DE - Drawdown Comparison
The maximum ECMA.DE drawdown since its inception was -8.91%, smaller than the maximum EHBA.DE drawdown of -20.61%. Use the drawdown chart below to compare losses from any high point for ECMA.DE and EHBA.DE.
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Drawdown Indicators
| ECMA.DE | EHBA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.91% | -20.61% | +11.70% |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | -3.72% | +1.04% |
Max Drawdown (3Y)Largest decline over 3 years | -2.68% | -3.72% | +1.04% |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.61% | — |
Current DrawdownCurrent decline from peak | -0.81% | -1.01% | +0.20% |
Average DrawdownAverage peak-to-trough decline | -2.05% | -5.49% | +3.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 1.06% | -0.24% |
Volatility
ECMA.DE vs. EHBA.DE - Volatility Comparison
The current volatility for Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc (ECMA.DE) is 0.80%, while Invesco Euro Corporate Hybrid Bond UCITS ETF Acc (EHBA.DE) has a volatility of 1.07%. This indicates that ECMA.DE experiences smaller price fluctuations and is considered to be less risky than EHBA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ECMA.DE | EHBA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.80% | 1.07% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 2.84% | 3.70% | -0.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.17% | 4.21% | -1.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.15% | 5.04% | -0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.15% | 4.83% | -0.68% |
ECMA.DE vs. EHBA.DE - Expense Ratio Comparison
ECMA.DE has a 0.19% expense ratio, which is lower than EHBA.DE's 0.39% expense ratio.
Dividends
ECMA.DE vs. EHBA.DE - Dividend Comparison
Neither ECMA.DE nor EHBA.DE has paid dividends to shareholders.
Frequently Asked Questions
ECMA.DE and EHBA.DE have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ECMA.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ECMA.DE is cheaper with a 0.19% expense ratio, compared with 0.39% for EHBA.DE.
ECMA.DE tracks Invesco EUR Corporate Bond ESG Multi-Factor, while EHBA.DE tracks Bloomberg Euro Universal Corporate ex Financials Hybrid Capital Securities 8% Capped Bond Index. Their fees differ too: 0.19% for ECMA.DE and 0.39% for EHBA.DE.
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