EEXF.L vs. EUCO.L
EEXF.L (iShares € Corp Bond ex-Financials UCITS ETF EUR (Dist)) and EUCO.L (SPDR Bloomberg Euro Corporate Bond UCITS ETF) are both European Corporate Bonds funds - EEXF.L tracks the Bloomberg Euro Corporate ex-Financials Bond Index (EUR) while EUCO.L tracks the Bloomberg Euro Corp TR EUR. Both are passively managed. Over the past 10 years, EEXF.L returned 0.60%/yr vs 0.99%/yr for EUCO.L. Their correlation of 0.85 suggests significant overlap in exposure. EEXF.L charges 0.20%/yr vs 0.12%/yr for EUCO.L.
Performance
EEXF.L vs. EUCO.L - Performance Comparison
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Different Trading Currencies
EEXF.L is traded in GBP, while EUCO.L is traded in EUR. To make them comparable, the EUCO.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, EEXF.L achieves a -3.85% return, which is significantly lower than EUCO.L's -1.62% return. Over the past 10 years, EEXF.L has underperformed EUCO.L with an annualized return of 0.60%, while EUCO.L has yielded a comparatively higher 0.99% annualized return.
EEXF.L
- 1D
- -0.68%
- 1M
- -2.20%
- 6M
- -3.46%
- YTD
- -3.85%
- 1Y
- -2.30%
- 3Y*
- 3.04%
- 5Y*
- -0.93%
- 10Y*
- 0.60%
EUCO.L
- 1D
- -0.20%
- 1M
- -1.73%
- 6M
- -1.33%
- YTD
- -1.62%
- 1Y
- -0.07%
- 3Y*
- 4.28%
- 5Y*
- -0.16%
- 10Y*
- 0.99%
EEXF.L vs. EUCO.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EEXF.L iShares € Corp Bond ex-Financials UCITS ETF EUR (Dist) | -3.85% | 7.88% | -1.05% | 5.23% | -8.74% | -7.78% | 8.67% | 1.04% | -0.32% | 5.14% |
EUCO.L SPDR Bloomberg Euro Corporate Bond UCITS ETF | -1.62% | 8.41% | -0.27% | 5.49% | -9.22% | -7.08% | 8.44% | 0.19% | -0.41% | 6.44% |
Correlation
The correlation between EEXF.L and EUCO.L is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Dec 9, 2014 | 0.85 |
The correlation between EEXF.L and EUCO.L has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.
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Return for Risk
EEXF.L vs. EUCO.L — Risk / Return Rank
EEXF.L
EUCO.L
EEXF.L vs. EUCO.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Corp Bond ex-Financials UCITS ETF EUR (Dist) (EEXF.L) and SPDR Bloomberg Euro Corporate Bond UCITS ETF (EUCO.L). 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.
| EEXF.L | EUCO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.01 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 0.02 | -0.50 |
| Martin ratioReturn relative to average drawdown | -0.98 | 0.04 | -1.02 |
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Drawdowns
EEXF.L vs. EUCO.L - Drawdown Comparison
The maximum EEXF.L drawdown since its inception was -21.79%, roughly equal to the maximum EUCO.L drawdown of -21.72%. Use the drawdown chart below to compare losses from any high point for EEXF.L and EUCO.L.
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Drawdown Indicators
| EEXF.L | EUCO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.79% | -21.72% | -0.07% |
Max Drawdown (1Y)Largest decline over 1 year | -5.22% | -3.69% | -1.53% |
Max Drawdown (3Y)Largest decline over 3 years | -5.22% | -3.69% | -1.53% |
Max Drawdown (5Y)Largest decline over 5 years | -17.09% | -17.14% | +0.05% |
Max Drawdown (10Y)Largest decline over 10 years | -21.79% | -21.72% | -0.07% |
Current DrawdownCurrent decline from peak | -10.99% | -7.64% | -3.35% |
Average DrawdownAverage peak-to-trough decline | -8.24% | -8.49% | +0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.56% | 1.62% | +0.94% |
Volatility
EEXF.L vs. EUCO.L - Volatility Comparison
iShares € Corp Bond ex-Financials UCITS ETF EUR (Dist) (EEXF.L) and SPDR Bloomberg Euro Corporate Bond UCITS ETF (EUCO.L) have volatilities of 1.22% and 1.23%, 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
| EEXF.L | EUCO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 1.23% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 4.02% | 3.74% | +0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.88% | 4.80% | +0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.29% | 6.32% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.36% | 7.20% | +0.16% |
EEXF.L vs. EUCO.L - Expense Ratio Comparison
EEXF.L has a 0.20% expense ratio, which is higher than EUCO.L's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EEXF.L vs. EUCO.L - Dividend Comparison
EEXF.L's dividend yield for the trailing twelve months is around 2.85%, less than EUCO.L's 3.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EEXF.L iShares € Corp Bond ex-Financials UCITS ETF EUR (Dist) | 2.85% | 2.59% | 2.30% | 1.49% | 0.86% | 0.84% | 0.86% | 1.31% | 1.34% | 1.40% | 1.70% | 1.00% |
EUCO.L SPDR Bloomberg Euro Corporate Bond UCITS ETF | 3.26% | 3.25% | 3.07% | 2.13% | 0.96% | 0.89% | 0.86% | 0.92% | 0.89% | 1.21% | 1.36% | 1.71% |
Frequently Asked Questions
EEXF.L and EUCO.L have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUCO.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUCO.L is cheaper with a 0.12% expense ratio, compared with 0.20% for EEXF.L.
EEXF.L tracks Bloomberg Euro Corporate ex-Financials Bond Index (EUR), while EUCO.L tracks Bloomberg Euro Corp TR EUR. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for EEXF.L and 0.12% for EUCO.L.
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