EHYB.L vs. XBLC.L

Last updated Jul 16, 2026

EHYB.L (Invesco Euro Corporate Hybrid Bond UCITS ETF EUR (Dist)) and XBLC.L (Xtrackers II EUR Corporate Bond UCITS ETF 1C) are both European Corporate Bonds funds - EHYB.L tracks the Bloomberg Euro Universal Corporate ex Financials Hybrid Capital Securities 8% Capped Bond Index (EUR) while XBLC.L tracks the Bloomberg Euro Corp TR EUR. Both are passively managed. Over the past 5 years, EHYB.L returned 1.48%/yr vs -0.30%/yr for XBLC.L. A 0.67 correlation means they provide meaningful diversification when combined. EHYB.L charges 0.39%/yr vs 0.12%/yr for XBLC.L.

Performance

EHYB.L vs. XBLC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco Euro Corporate Hybrid Bond UCITS ETF EUR (Dist) (EHYB.L) and Xtrackers II EUR Corporate Bond UCITS ETF 1C (XBLC.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

EHYB.L is traded in GBp, while XBLC.L is traded in EUR. To make them comparable, the XBLC.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with EHYB.L having a -2.20% return and XBLC.L slightly lower at -2.21%.

EHYB.L

• 1D: -0.89%
• 1M: -2.24%
• 6M: -1.74%
• YTD: -2.20%
• 1Y: 0.65%
• 3Y*: 7.55%
• 5Y*: 1.48%
• 10Y*: —

XBLC.L

• 1D: -0.66%
• 1M: -2.35%
• 6M: -1.98%
• YTD: -2.21%
• 1Y: -0.65%
• 3Y*: 4.05%
• 5Y*: -0.30%
• 10Y*: —

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

EHYB.L vs. XBLC.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
EHYB.L Invesco Euro Corporate Hybrid Bond UCITS ETF EUR (Dist)	-2.20%	10.94%	5.36%	7.67%	-10.29%	-5.42%	-6.81%
XBLC.L Xtrackers II EUR Corporate Bond UCITS ETF 1C	-2.21%	8.46%	-0.38%	5.36%	-8.81%	-6.92%	0.05%

Correlation

The correlation between EHYB.L and XBLC.L is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since Sep 17, 2020	0.67

The correlation between EHYB.L and XBLC.L shifts across timeframes, from 0.64 (3 years) to 0.74 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

EHYB.L vs. XBLC.L — Risk / Return Rank

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

EHYB.L

EHYB.L Risk / Return Rank: 11
EHYB.L Sharpe Ratio Rank: 11
EHYB.L Sortino Ratio Rank: 10
EHYB.L Omega Ratio Rank: 10
EHYB.L Calmar Ratio Rank: 11
EHYB.L Martin Ratio Rank: 12

XBLC.L

XBLC.L Risk / Return Rank: 18
XBLC.L Sharpe Ratio Rank: 18
XBLC.L Sortino Ratio Rank: 17
XBLC.L Omega Ratio Rank: 17
XBLC.L Calmar Ratio Rank: 17
XBLC.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.

EHYB.L vs. XBLC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Euro Corporate Hybrid Bond UCITS ETF EUR (Dist) (EHYB.L) and Xtrackers II EUR Corporate Bond UCITS ETF 1C (XBLC.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.

	EHYB.L	XBLC.L	Difference
Sharpe ratio: Return per unit of total volatility	0.13	-0.14	+0.27
Sortino ratio: Return per unit of downside risk	0.21	-0.16	+0.37
Omega ratio: Gain probability vs. loss probability	1.03	0.98	+0.04
Calmar ratio: Return relative to maximum drawdown	0.16	-0.17	+0.32
Martin ratio: Return relative to average drawdown	0.43	-0.39	+0.82

EHYB.L vs. XBLC.L - Sharpe Ratio Comparison

The current EHYB.L Sharpe Ratio is 0.13, which is higher than the XBLC.L Sharpe Ratio of -0.14. The chart below compares the historical Sharpe Ratios of EHYB.L and XBLC.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EHYB.L vs. XBLC.L - Drawdown Comparison

The maximum EHYB.L drawdown since its inception was -27.17%, which is greater than XBLC.L's maximum drawdown of -21.28%. Use the drawdown chart below to compare losses from any high point for EHYB.L and XBLC.L.

Drawdown Indicators

	EHYB.L	XBLC.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.17%	-21.28%	-5.89%
Max Drawdown (1Y) Largest decline over 1 year	-4.15%	-3.94%	-0.21%
Max Drawdown (3Y) Largest decline over 3 years	-4.15%	-3.94%	-0.21%
Max Drawdown (5Y) Largest decline over 5 years	-20.05%	-16.74%	-3.31%
Current Drawdown Current decline from peak	-3.50%	-7.79%	+4.29%
Average Drawdown Average peak-to-trough decline	-12.42%	-8.79%	-3.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.52%	1.67%	-0.15%

Volatility

EHYB.L vs. XBLC.L - Volatility Comparison

Invesco Euro Corporate Hybrid Bond UCITS ETF EUR (Dist) (EHYB.L) has a higher volatility of 1.47% compared to Xtrackers II EUR Corporate Bond UCITS ETF 1C (XBLC.L) at 1.24%. This indicates that EHYB.L's price experiences larger fluctuations and is considered to be riskier than XBLC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EHYB.L	XBLC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.47%	1.24%	+0.23%
Volatility (6M) Calculated over the trailing 6-month period	3.99%	3.74%	+0.25%
Volatility (1Y) Calculated over the trailing 1-year period	4.92%	4.78%	+0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.89%	6.23%	+0.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.66%	6.87%	+0.79%

EHYB.L vs. XBLC.L - Expense Ratio Comparison

EHYB.L has a 0.39% expense ratio, which is higher than XBLC.L's 0.12% expense ratio.

Dividends

EHYB.L vs. XBLC.L - Dividend Comparison

EHYB.L's dividend yield for the trailing twelve months is around 3.55%, while XBLC.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
EHYB.L Invesco Euro Corporate Hybrid Bond UCITS ETF EUR (Dist)	3.55%	3.24%	3.12%	2.80%	2.27%	1.66%	0.39%
XBLC.L Xtrackers II EUR Corporate Bond UCITS ETF 1C	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EHYB.L and XBLC.L in my portfolio?

EHYB.L and XBLC.L have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EHYB.L or XBLC.L?

On fees, XBLC.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EHYB.L or XBLC.L?

XBLC.L is cheaper with a 0.12% expense ratio, compared with 0.39% for EHYB.L.

What is the main difference between EHYB.L and XBLC.L?

EHYB.L tracks Bloomberg Euro Universal Corporate ex Financials Hybrid Capital Securities 8% Capped Bond Index (EUR), while XBLC.L tracks Bloomberg Euro Corp TR EUR. They also come from different issuers: Invesco and Xtrackers. Their fees differ too: 0.39% for EHYB.L and 0.12% for XBLC.L.