ECMA.DE vs. IEXA.DE
ECMA.DE (Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc) and IEXA.DE (iShares EUR Corporate Bond ex-Financials UCITS ETF EUR Acc) are both European Corporate Bonds funds - ECMA.DE tracks the Invesco EUR Corporate Bond ESG Multi-Factor while IEXA.DE tracks the Bloomberg Euro Corporate ex-Financials Bond. Both are passively managed. Over the past 3 years, ECMA.DE returned 4.66%/yr vs 4.16%/yr for IEXA.DE. Their correlation of 0.90 suggests significant overlap in exposure. ECMA.DE charges 0.19%/yr vs 0.20%/yr for IEXA.DE.
Performance
ECMA.DE vs. IEXA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ECMA.DE achieves a 1.12% return, which is significantly lower than IEXA.DE's 1.30% return.
ECMA.DE
- 1D
- 0.00%
- 1M
- 0.61%
- YTD
- 1.12%
- 6M
- 1.33%
- 1Y
- 2.13%
- 3Y*
- 4.66%
- 5Y*
- —
- 10Y*
- —
IEXA.DE
- 1D
- 0.00%
- 1M
- 0.74%
- YTD
- 1.30%
- 6M
- 1.48%
- 1Y
- 2.24%
- 3Y*
- 4.16%
- 5Y*
- —
- 10Y*
- —
ECMA.DE vs. IEXA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ECMA.DE Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc | 1.12% | 2.90% | 4.30% | 7.06% | -0.85% |
IEXA.DE iShares EUR Corporate Bond ex-Financials UCITS ETF EUR Acc | 1.30% | 2.47% | 3.54% | 7.38% | -0.21% |
Correlation
The correlation between ECMA.DE and IEXA.DE is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2022 | 0.90 |
The correlation between ECMA.DE and IEXA.DE has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.
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Return for Risk
ECMA.DE vs. IEXA.DE — Risk / Return Rank
ECMA.DE
IEXA.DE
ECMA.DE vs. IEXA.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 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.
| ECMA.DE | IEXA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.14 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 0.87 | -0.08 |
| Martin ratioReturn relative to average drawdown | 2.63 | 2.79 | -0.17 |
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Drawdowns
ECMA.DE vs. IEXA.DE - Drawdown Comparison
The maximum ECMA.DE drawdown since its inception was -8.91%, roughly equal to the maximum IEXA.DE drawdown of -9.06%. Use the drawdown chart below to compare losses from any high point for ECMA.DE and IEXA.DE.
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Drawdown Indicators
| ECMA.DE | IEXA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.91% | -9.06% | +0.15% |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | -2.56% | -0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -2.68% | -2.56% | -0.12% |
Current DrawdownCurrent decline from peak | -0.15% | 0.00% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -2.08% | -2.24% | +0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.81% | 0.80% | +0.01% |
Volatility
ECMA.DE vs. IEXA.DE - Volatility Comparison
Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc (ECMA.DE) and iShares EUR Corporate Bond ex-Financials UCITS ETF EUR Acc (IEXA.DE) have volatilities of 0.78% and 0.78%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ECMA.DE | IEXA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 0.78% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 2.77% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.11% | 3.26% | -0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.16% | 4.77% | -0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.16% | 4.77% | -0.61% |
ECMA.DE vs. IEXA.DE - Expense Ratio Comparison
ECMA.DE has a 0.19% expense ratio, which is lower than IEXA.DE's 0.20% 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%.
Dividends
ECMA.DE vs. IEXA.DE - Dividend Comparison
Neither ECMA.DE nor IEXA.DE has paid dividends to shareholders.
Frequently Asked Questions
ECMA.DE and IEXA.DE have a correlation of 0.85, 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 0.20% for IEXA.DE.
ECMA.DE tracks Invesco EUR Corporate Bond ESG Multi-Factor, while IEXA.DE tracks Bloomberg Euro Corporate ex-Financials Bond. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for ECMA.DE and 0.20% for IEXA.DE.
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