EIB5.DE vs. SMLD.DE
EIB5.DE (Invesco Euro Government Bond 3-5 Year UCITS ETF Dist) and SMLD.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist) are both exchange-traded funds - EIB5.DE is a European Government Bonds fund tracking the Bloomberg Euro Government Select 3-5, while SMLD.DE is a Energy Equities fund tracking the Morningstar MLP Composite. Both are passively managed. Over the past 5 years, EIB5.DE returned -0.40%/yr vs 19.56%/yr for SMLD.DE. At a correlation of -0.09, they often move in opposite directions. EIB5.DE charges 0.10%/yr vs 0.50%/yr for SMLD.DE.
Performance
EIB5.DE vs. SMLD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EIB5.DE achieves a -0.71% return, which is significantly lower than SMLD.DE's 24.99% return.
EIB5.DE
- 1D
- -0.06%
- 1M
- -0.61%
- 6M
- -0.87%
- YTD
- -0.71%
- 1Y
- 0.23%
- 3Y*
- 2.75%
- 5Y*
- -0.40%
- 10Y*
- —
SMLD.DE
- 1D
- 0.45%
- 1M
- 7.83%
- 6M
- 16.72%
- YTD
- 24.99%
- 1Y
- 20.87%
- 3Y*
- 16.99%
- 5Y*
- 19.56%
- 10Y*
- 6.39%
EIB5.DE vs. SMLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EIB5.DE Invesco Euro Government Bond 3-5 Year UCITS ETF Dist | -0.71% | 2.92% | 2.22% | 5.31% | -10.04% | -1.25% | 1.21% | -1.13% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 24.99% | -8.84% | 28.79% | 15.50% | 39.45% | 46.81% | -37.59% | -2.51% |
Correlation
The correlation between EIB5.DE and SMLD.DE is -0.29, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.15 |
Correlation (All Time) Calculated using the full available price history since Aug 28, 2019 | -0.09 |
The correlation between EIB5.DE and SMLD.DE shifts across timeframes, from -0.29 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EIB5.DE vs. SMLD.DE — Risk / Return Rank
EIB5.DE
SMLD.DE
EIB5.DE vs. SMLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Euro Government Bond 3-5 Year UCITS ETF Dist (EIB5.DE) and Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.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.
| EIB5.DE | SMLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.19 | ||
| Sortino ratioReturn per unit of downside risk | -1.63 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.22 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.09 | 2.15 | -2.06 |
| Martin ratioReturn relative to average drawdown | 0.21 | 4.71 | -4.50 |
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Drawdowns
EIB5.DE vs. SMLD.DE - Drawdown Comparison
The maximum EIB5.DE drawdown since its inception was -12.19%, smaller than the maximum SMLD.DE drawdown of -83.65%. Use the drawdown chart below to compare losses from any high point for EIB5.DE and SMLD.DE.
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Drawdown Indicators
| EIB5.DE | SMLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.19% | -83.65% | +71.46% |
Max Drawdown (1Y)Largest decline over 1 year | -2.54% | -9.68% | +7.14% |
Max Drawdown (3Y)Largest decline over 3 years | -2.54% | -22.99% | +20.45% |
Max Drawdown (5Y)Largest decline over 5 years | -12.06% | -22.99% | +10.93% |
Max Drawdown (10Y)Largest decline over 10 years | — | -76.32% | — |
Current DrawdownCurrent decline from peak | -2.50% | -0.07% | -2.43% |
Average DrawdownAverage peak-to-trough decline | -4.30% | -33.91% | +29.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 4.42% | -3.33% |
Volatility
EIB5.DE vs. SMLD.DE - Volatility Comparison
The current volatility for Invesco Euro Government Bond 3-5 Year UCITS ETF Dist (EIB5.DE) is 1.39%, while Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) has a volatility of 3.70%. This indicates that EIB5.DE experiences smaller price fluctuations and is considered to be less risky than SMLD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EIB5.DE | SMLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 3.70% | -2.31% |
Volatility (6M)Calculated over the trailing 6-month period | 3.16% | 12.95% | -9.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.66% | 16.61% | -12.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.84% | 20.27% | -16.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.44% | 29.07% | -25.63% |
EIB5.DE vs. SMLD.DE - Expense Ratio Comparison
EIB5.DE has a 0.10% expense ratio, which is lower than SMLD.DE's 0.50% expense ratio.
Dividends
EIB5.DE vs. SMLD.DE - Dividend Comparison
EIB5.DE's dividend yield for the trailing twelve months is around 2.49%, less than SMLD.DE's 7.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIB5.DE Invesco Euro Government Bond 3-5 Year UCITS ETF Dist | 2.49% | 2.50% | 2.73% | 1.95% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 7.43% | 8.45% | 7.99% | 8.81% | 8.09% | 8.24% | 11.54% | 9.90% | 9.70% | 8.60% | 7.76% | 9.80% |
Frequently Asked Questions
EIB5.DE and SMLD.DE have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EIB5.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EIB5.DE is cheaper with a 0.10% expense ratio, compared with 0.50% for SMLD.DE.
EIB5.DE is categorized as European Government Bonds, while SMLD.DE is Energy Equities. EIB5.DE tracks Bloomberg Euro Government Select 3-5, while SMLD.DE tracks Morningstar MLP Composite. Their fees differ too: 0.10% for EIB5.DE and 0.50% for SMLD.DE.
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