EEXF.L vs. IGBE.L
EEXF.L (iShares € Corp Bond ex-Financials UCITS ETF EUR (Dist)) and IGBE.L (Invesco GBP Corporate Bond ESG UCITS ETF Dist) are both European Corporate Bonds funds - EEXF.L tracks the Bloomberg Euro Corporate ex-Financials Bond Index (EUR) while IGBE.L tracks the Markit iBoxx GBP NonGilts TR. Both are passively managed. Over the past 5 years, EEXF.L returned -0.93%/yr vs -0.70%/yr for IGBE.L. At a 0.44 correlation, their price movements are largely independent. EEXF.L charges 0.20%/yr vs 0.10%/yr for IGBE.L.
Performance
EEXF.L vs. IGBE.L - Performance Comparison
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Different Trading Currencies
EEXF.L is traded in GBP, while IGBE.L is traded in GBp. To make them comparable, the IGBE.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 IGBE.L's -0.06% 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%
IGBE.L
- 1D
- 0.04%
- 1M
- -0.47%
- 6M
- -0.61%
- YTD
- -0.06%
- 1Y
- 3.86%
- 3Y*
- 6.42%
- 5Y*
- -0.70%
- 10Y*
- —
EEXF.L vs. IGBE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
EEXF.L iShares € Corp Bond ex-Financials UCITS ETF EUR (Dist) | -3.85% | 7.88% | -1.05% | 5.23% | -8.74% | -7.78% | 9.43% |
IGBE.L Invesco GBP Corporate Bond ESG UCITS ETF Dist | -0.06% | 7.23% | 2.45% | 9.16% | -18.23% | -3.62% | 6.31% |
Correlation
The correlation between EEXF.L and IGBE.L is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2020 | 0.44 |
The correlation between EEXF.L and IGBE.L shifts across timeframes, from 0.38 (1 year) to 0.49 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EEXF.L vs. IGBE.L — Risk / Return Rank
EEXF.L
IGBE.L
EEXF.L vs. IGBE.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 Invesco GBP Corporate Bond ESG UCITS ETF Dist (IGBE.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 | IGBE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.27 | ||
| Sortino ratioReturn per unit of downside risk | -1.77 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.14 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 0.99 | -1.48 |
| Martin ratioReturn relative to average drawdown | -0.98 | 3.01 | -3.99 |
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Drawdowns
EEXF.L vs. IGBE.L - Drawdown Comparison
The maximum EEXF.L drawdown since its inception was -21.79%, smaller than the maximum IGBE.L drawdown of -30.19%. Use the drawdown chart below to compare losses from any high point for EEXF.L and IGBE.L.
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Drawdown Indicators
| EEXF.L | IGBE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.79% | -30.19% | +8.40% |
Max Drawdown (1Y)Largest decline over 1 year | -5.22% | -3.86% | -1.36% |
Max Drawdown (3Y)Largest decline over 3 years | -5.22% | -3.86% | -1.36% |
Max Drawdown (5Y)Largest decline over 5 years | -17.09% | -29.11% | +12.02% |
Max Drawdown (10Y)Largest decline over 10 years | -21.79% | — | — |
Current DrawdownCurrent decline from peak | -10.99% | -5.96% | -5.03% |
Average DrawdownAverage peak-to-trough decline | -8.24% | -10.66% | +2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.56% | 1.28% | +1.28% |
Volatility
EEXF.L vs. IGBE.L - Volatility Comparison
The current volatility for iShares € Corp Bond ex-Financials UCITS ETF EUR (Dist) (EEXF.L) is 1.22%, while Invesco GBP Corporate Bond ESG UCITS ETF Dist (IGBE.L) has a volatility of 1.45%. This indicates that EEXF.L experiences smaller price fluctuations and is considered to be less risky than IGBE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EEXF.L | IGBE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 1.45% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 4.02% | 4.37% | -0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.88% | 5.08% | -0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.29% | 7.45% | -1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.36% | 7.56% | -0.20% |
EEXF.L vs. IGBE.L - Expense Ratio Comparison
EEXF.L has a 0.20% expense ratio, which is higher than IGBE.L's 0.10% 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. IGBE.L - Dividend Comparison
EEXF.L's dividend yield for the trailing twelve months is around 2.85%, less than IGBE.L's 5.02% 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% |
IGBE.L Invesco GBP Corporate Bond ESG UCITS ETF Dist | 5.02% | 4.81% | 4.59% | 3.85% | 2.47% | 1.76% | 1.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EEXF.L and IGBE.L have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGBE.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGBE.L is cheaper with a 0.10% expense ratio, compared with 0.20% for EEXF.L.
EEXF.L tracks Bloomberg Euro Corporate ex-Financials Bond Index (EUR), while IGBE.L tracks Markit iBoxx GBP NonGilts TR. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for EEXF.L and 0.10% for IGBE.L.
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