EHBA.DE vs. TCBT.DE
EHBA.DE (Invesco Euro Corporate Hybrid Bond UCITS ETF Acc) and TCBT.DE (VanEck iBoxx EUR Corporates UCITS ETF) are both European Corporate Bonds funds - EHBA.DE tracks the Bloomberg Euro Universal Corporate ex Financials Hybrid Capital Securities 8% Capped Bond Index while TCBT.DE tracks the iBoxx® SD-KPI EUR Liquid Corporates. Both are passively managed. Over the past 5 years, EHBA.DE returned 1.70%/yr vs -0.33%/yr for TCBT.DE. At a 0.44 correlation, their price movements are largely independent. EHBA.DE charges 0.39%/yr vs 0.15%/yr for TCBT.DE.
Performance
EHBA.DE vs. TCBT.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EHBA.DE achieves a 0.88% return, which is significantly higher than TCBT.DE's 0.17% return.
EHBA.DE
- 1D
- -0.04%
- 1M
- -0.22%
- 6M
- 0.24%
- YTD
- 0.88%
- 1Y
- 2.83%
- 3Y*
- 7.84%
- 5Y*
- 1.70%
- 10Y*
- —
TCBT.DE
- 1D
- 0.00%
- 1M
- -0.83%
- 6M
- -0.30%
- YTD
- 0.17%
- 1Y
- 0.75%
- 3Y*
- 3.58%
- 5Y*
- -0.33%
- 10Y*
- —
EHBA.DE vs. TCBT.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
EHBA.DE Invesco Euro Corporate Hybrid Bond UCITS ETF Acc | 0.88% | 5.24% | 10.78% | 9.40% | -14.85% | 1.16% | 3.63% |
TCBT.DE VanEck iBoxx EUR Corporates UCITS ETF | 0.17% | 2.41% | 3.36% | 8.26% | -13.48% | -1.32% | 1.66% |
Correlation
The correlation between EHBA.DE and TCBT.DE is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Sep 17, 2020 | 0.44 |
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Return for Risk
EHBA.DE vs. TCBT.DE — Risk / Return Rank
EHBA.DE
TCBT.DE
EHBA.DE vs. TCBT.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Euro Corporate Hybrid Bond UCITS ETF Acc (EHBA.DE) and VanEck iBoxx EUR Corporates UCITS ETF (TCBT.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.
| EHBA.DE | TCBT.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.04 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.76 | 0.22 | +0.53 |
| Martin ratioReturn relative to average drawdown | 2.66 | 0.62 | +2.04 |
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Drawdowns
EHBA.DE vs. TCBT.DE - Drawdown Comparison
The maximum EHBA.DE drawdown since its inception was -20.61%, which is greater than TCBT.DE's maximum drawdown of -16.87%. Use the drawdown chart below to compare losses from any high point for EHBA.DE and TCBT.DE.
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Drawdown Indicators
| EHBA.DE | TCBT.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.61% | -16.87% | -3.74% |
Max Drawdown (1Y)Largest decline over 1 year | -3.72% | -3.34% | -0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -3.72% | -3.34% | -0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -20.61% | -16.84% | -3.77% |
Current DrawdownCurrent decline from peak | -1.06% | -2.26% | +1.20% |
Average DrawdownAverage peak-to-trough decline | -5.49% | -5.05% | -0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 1.20% | -0.14% |
Volatility
EHBA.DE vs. TCBT.DE - Volatility Comparison
The current volatility for Invesco Euro Corporate Hybrid Bond UCITS ETF Acc (EHBA.DE) is 1.07%, while VanEck iBoxx EUR Corporates UCITS ETF (TCBT.DE) has a volatility of 1.89%. This indicates that EHBA.DE experiences smaller price fluctuations and is considered to be less risky than TCBT.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EHBA.DE | TCBT.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 1.89% | -0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 3.68% | 4.36% | -0.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.20% | 4.72% | -0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.04% | 5.27% | -0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.82% | 5.55% | -0.73% |
EHBA.DE vs. TCBT.DE - Expense Ratio Comparison
EHBA.DE has a 0.39% expense ratio, which is higher than TCBT.DE's 0.15% expense ratio.
Dividends
EHBA.DE vs. TCBT.DE - Dividend Comparison
EHBA.DE has not paid dividends to shareholders, while TCBT.DE's dividend yield for the trailing twelve months is around 2.68%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EHBA.DE Invesco Euro Corporate Hybrid Bond UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TCBT.DE VanEck iBoxx EUR Corporates UCITS ETF | 2.68% | 2.45% | 2.39% | 1.12% | 1.39% | 0.75% | 1.00% | 1.07% | 0.28% |
Frequently Asked Questions
EHBA.DE and TCBT.DE have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TCBT.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TCBT.DE is cheaper with a 0.15% expense ratio, compared with 0.39% for EHBA.DE.
EHBA.DE tracks Bloomberg Euro Universal Corporate ex Financials Hybrid Capital Securities 8% Capped Bond Index, while TCBT.DE tracks iBoxx® SD-KPI EUR Liquid Corporates. They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.39% for EHBA.DE and 0.15% for TCBT.DE.
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