EIB3.DE vs. GZIRX

Last updated Jun 5, 2026

EIB3.DE (Invesco Euro Government Bond 1-3 Year UCITS ETF Dist) and GZIRX (Goldman Sachs Strategic Income Fund) are both funds - EIB3.DE is a European Government Bonds fund tracking the Bloomberg Euro Government Select 1-3, while GZIRX is a Nontraditional Bonds fund managed by Goldman Sachs. Over the past 5 years, EIB3.DE returned 0.63%/yr vs 5.11%/yr for GZIRX. At a 0.09 correlation, their price movements are largely independent. EIB3.DE charges 0.10%/yr vs 0.78%/yr for GZIRX.

Performance

EIB3.DE vs. GZIRX - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco Euro Government Bond 1-3 Year UCITS ETF Dist (EIB3.DE) and Goldman Sachs Strategic Income Fund (GZIRX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

EIB3.DE is traded in EUR, while GZIRX is traded in USD. To make them comparable, the GZIRX values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, EIB3.DE achieves a 0.19% return, which is significantly lower than GZIRX's 2.06% return.

EIB3.DE

• 1D: 0.93%
• 1M: 0.27%
• YTD: 0.19%
• 6M: 0.55%
• 1Y: 0.81%
• 3Y*: 2.63%
• 5Y*: 0.63%
• 10Y*: —

GZIRX

• 1D: 0.28%
• 1M: 1.53%
• YTD: 2.06%
• 6M: 1.94%
• 1Y: 5.56%
• 3Y*: 4.65%
• 5Y*: 5.11%
• 10Y*: 3.30%

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

EIB3.DE vs. GZIRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EIB3.DE Invesco Euro Government Bond 1-3 Year UCITS ETF Dist	0.19%	2.14%	3.03%	3.39%	-4.93%	-0.76%	-0.13%	-0.51%
GZIRX Goldman Sachs Strategic Income Fund	2.06%	-4.39%	13.13%	7.06%	2.13%	5.93%	0.48%	-0.03%

Correlation

The correlation between EIB3.DE and GZIRX is -0.09, 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	-0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (All Time) Calculated using the full available price history since Sep 3, 2019	0.09

The correlation between EIB3.DE and GZIRX shifts across timeframes, from -0.09 (1 year) to 0.12 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

EIB3.DE vs. GZIRX — Risk / Return Rank

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

EIB3.DE

EIB3.DE Risk / Return Rank: 14
EIB3.DE Sharpe Ratio Rank: 13
EIB3.DE Sortino Ratio Rank: 12
EIB3.DE Omega Ratio Rank: 13
EIB3.DE Calmar Ratio Rank: 15
EIB3.DE Martin Ratio Rank: 16

GZIRX

GZIRX Risk / Return Rank: 75
GZIRX Sharpe Ratio Rank: 83
GZIRX Sortino Ratio Rank: 85
GZIRX Omega Ratio Rank: 85
GZIRX Calmar Ratio Rank: 54
GZIRX Martin Ratio Rank: 69

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.

EIB3.DE vs. GZIRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Euro Government Bond 1-3 Year UCITS ETF Dist (EIB3.DE) and Goldman Sachs Strategic Income Fund (GZIRX). 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.

	EIB3.DE	GZIRX	Difference
Sharpe ratio: Return per unit of total volatility	0.26	0.89	-0.63
Sortino ratio: Return per unit of downside risk	0.39	1.26	-0.87
Omega ratio: Gain probability vs. loss probability	1.06	1.17	-0.10
Calmar ratio: Return relative to maximum drawdown	0.50	1.48	-0.97
Martin ratio: Return relative to average drawdown	1.50	4.42	-2.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EIB3.DE vs. GZIRX - Sharpe Ratio Comparison

The current EIB3.DE Sharpe Ratio is 0.26, which is lower than the GZIRX Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of EIB3.DE and GZIRX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EIB3.DE	GZIRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.26	0.89	-0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.66	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.48	-0.31

Drawdowns

EIB3.DE vs. GZIRX - Drawdown Comparison

The maximum EIB3.DE drawdown since its inception was -6.78%, smaller than the maximum GZIRX drawdown of -16.26%. Use the drawdown chart below to compare losses from any high point for EIB3.DE and GZIRX.

Drawdown Indicators

	EIB3.DE	GZIRX	Difference
Max Drawdown Largest peak-to-trough decline	-6.78%	-16.26%	+9.48%
Max Drawdown (1Y) Largest decline over 1 year	-1.60%	-3.68%	+2.08%
Max Drawdown (3Y) Largest decline over 3 years	-1.60%	-12.46%	+10.86%
Max Drawdown (5Y) Largest decline over 5 years	-5.91%	-12.46%	+6.55%
Max Drawdown (10Y) Largest decline over 10 years	—	-16.26%	—
Current Drawdown Current decline from peak	-0.68%	-4.49%	+3.81%
Average Drawdown Average peak-to-trough decline	-2.06%	-5.25%	+3.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	1.24%	-0.70%

Volatility

EIB3.DE vs. GZIRX - Volatility Comparison

Invesco Euro Government Bond 1-3 Year UCITS ETF Dist (EIB3.DE) has a higher volatility of 1.50% compared to Goldman Sachs Strategic Income Fund (GZIRX) at 1.07%. This indicates that EIB3.DE's price experiences larger fluctuations and is considered to be riskier than GZIRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIB3.DE	GZIRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.50%	1.07%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	2.75%	4.40%	-1.65%
Volatility (1Y) Calculated over the trailing 1-year period	3.11%	6.15%	-3.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.11%	7.82%	-5.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.89%	7.81%	-5.92%

EIB3.DE vs. GZIRX - Expense Ratio Comparison

EIB3.DE has a 0.10% expense ratio, which is lower than GZIRX's 0.78% expense ratio.

Dividends

EIB3.DE vs. GZIRX - Dividend Comparison

EIB3.DE's dividend yield for the trailing twelve months is around 2.41%, less than GZIRX's 4.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIB3.DE Invesco Euro Government Bond 1-3 Year UCITS ETF Dist	2.41%	2.51%	2.80%	2.24%	0.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GZIRX Goldman Sachs Strategic Income Fund	4.32%	4.06%	6.61%	3.36%	2.38%	2.34%	3.76%	3.38%	2.66%	1.33%	2.18%	4.59%

Frequently Asked Questions

Can I hold both EIB3.DE and GZIRX in my portfolio?

EIB3.DE and GZIRX have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.