EFRN.L vs. EUCO.L

Last updated Jun 5, 2026

EFRN.L (iShares EUR Floating Rate Bond ESG UCITS ETF EUR (Dist)) and EUCO.L (SPDR Bloomberg Euro Corporate Bond UCITS ETF) are both European Corporate Bonds funds - EFRN.L tracks the Bloomberg Euro Agg Corp 1-3 Yr TR EUR while EUCO.L tracks the Bloomberg Euro Corp TR EUR. Both are passively managed. At a 0.06 correlation, their price movements are largely independent. EFRN.L charges 0.10%/yr vs 0.12%/yr for EUCO.L.

Performance

EFRN.L vs. EUCO.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares EUR Floating Rate Bond ESG UCITS ETF EUR (Dist) (EFRN.L) and SPDR Bloomberg Euro Corporate Bond UCITS ETF (EUCO.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EFRN.L

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

EUCO.L

• 1D: 0.09%
• 1M: 0.70%
• YTD: 0.53%
• 6M: 0.41%
• 1Y: 1.90%
• 3Y*: 4.56%
• 5Y*: 0.01%
• 10Y*: 1.02%

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

EFRN.L vs. EUCO.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EFRN.L iShares EUR Floating Rate Bond ESG UCITS ETF EUR (Dist)	0.00%	2.41%	4.35%	3.98%	-0.12%	-0.18%	0.03%	1.08%	-0.78%
EUCO.L SPDR Bloomberg Euro Corporate Bond UCITS ETF	0.53%	2.91%	4.46%	7.64%	-13.67%	-1.21%	2.64%	6.74%	-0.70%

Correlation

The correlation between EFRN.L and EUCO.L is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (All Time) Calculated using the full available price history since Jul 6, 2018	0.06

EFRN.L vs. EUCO.L - Sectors Allocation Comparison

Sectors	EFRN.L	EUCO.L
Financial Services	27.8%	30.1%
Industrials	1.8%	5.4%
Consumer Defensive	0.3%	4.5%
Basic Materials	-	1.4%
Communication Services	-	4.3%
Consumer Cyclical	-	5.3%
Energy	-	1.5%
Healthcare	-	3.0%
Real Estate	-	2.2%
Technology	-	1.0%
Utilities	-	2.4%

Return for Risk

EFRN.L vs. EUCO.L — Risk / Return Rank

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

EUCO.L

EUCO.L Risk / Return Rank: 19
EUCO.L Sharpe Ratio Rank: 19
EUCO.L Sortino Ratio Rank: 18
EUCO.L Omega Ratio Rank: 19
EUCO.L Calmar Ratio Rank: 18
EUCO.L Martin Ratio Rank: 21

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.

EFRN.L vs. EUCO.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares EUR Floating Rate Bond ESG UCITS ETF EUR (Dist) (EFRN.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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	EFRN.L	EUCO.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.59	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.00	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.23	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.27	—

Drawdowns

Drawdown Indicators

	EFRN.L	EUCO.L	Difference
Max Drawdown Largest peak-to-trough decline	—	-17.53%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-2.66%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-2.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.53%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-17.53%	—
Current Drawdown Current decline from peak	—	-1.45%	—
Average Drawdown Average peak-to-trough decline	—	-3.86%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.77%	—

Volatility

Volatility by Period

	EFRN.L	EUCO.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.18%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.70%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	3.19%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	4.52%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	4.45%	—

EFRN.L vs. EUCO.L - Expense Ratio Comparison

EFRN.L has a 0.10% expense ratio, which is lower than EUCO.L's 0.12% 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

EFRN.L vs. EUCO.L - Dividend Comparison

EFRN.L has not paid dividends to shareholders, while EUCO.L's dividend yield for the trailing twelve months is around 3.26%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFRN.L iShares EUR Floating Rate Bond ESG UCITS ETF EUR (Dist)	0.00%	1.59%	4.22%	2.93%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EUCO.L SPDR Bloomberg Euro Corporate Bond UCITS ETF	3.26%	3.25%	3.07%	2.13%	0.96%	0.89%	0.86%	1.38%	0.89%	1.21%	1.36%	1.71%

Frequently Asked Questions

Can I hold both EFRN.L and EUCO.L in my portfolio?

EFRN.L and EUCO.L have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EFRN.L or EUCO.L?

On fees, EFRN.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EFRN.L or EUCO.L?

EFRN.L is cheaper with a 0.10% expense ratio, compared with 0.12% for EUCO.L.

What is the main difference between EFRN.L and EUCO.L?

EFRN.L tracks Bloomberg Euro Agg Corp 1-3 Yr TR EUR, while EUCO.L tracks Bloomberg Euro Corp TR EUR. They also come from different issuers: iShares and State Street. Their fees differ too: 0.10% for EFRN.L and 0.12% for EUCO.L.