EIBX.DE vs. SMLD.DE
EIBX.DE (Invesco Euro Government Bond 7-10 Year UCITS ETF Dist) and SMLD.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist) are both exchange-traded funds - EIBX.DE is a European Government Bonds fund tracking the Bloomberg Euro Government Select 7-10, while SMLD.DE is a Energy Equities fund tracking the Morningstar MLP Composite. Both are passively managed. Over the past 5 years, EIBX.DE returned -2.61%/yr vs 19.46%/yr for SMLD.DE. At a correlation of -0.12, they often move in opposite directions. EIBX.DE charges 0.10%/yr vs 0.50%/yr for SMLD.DE.
Performance
EIBX.DE vs. SMLD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EIBX.DE achieves a -0.50% return, which is significantly lower than SMLD.DE's 24.44% return.
EIBX.DE
- 1D
- -0.13%
- 1M
- -1.31%
- 6M
- -1.02%
- YTD
- -0.50%
- 1Y
- 0.46%
- 3Y*
- 2.68%
- 5Y*
- -2.61%
- 10Y*
- —
SMLD.DE
- 1D
- 0.74%
- 1M
- 7.26%
- 6M
- 16.39%
- YTD
- 24.44%
- 1Y
- 21.70%
- 3Y*
- 17.38%
- 5Y*
- 19.46%
- 10Y*
- 6.52%
EIBX.DE vs. SMLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EIBX.DE Invesco Euro Government Bond 7-10 Year UCITS ETF Dist | -0.50% | 1.88% | 0.91% | 8.83% | -19.82% | -2.95% | 4.27% | -3.35% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 24.44% | -8.84% | 28.79% | 15.50% | 39.45% | 46.81% | -37.59% | -2.51% |
Correlation
The correlation between EIBX.DE and SMLD.DE is -0.31, 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 | -0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.14 |
Correlation (All Time) Calculated using the full available price history since Aug 28, 2019 | -0.12 |
The correlation between EIBX.DE and SMLD.DE shifts across timeframes, from -0.31 (1 year) to -0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EIBX.DE vs. SMLD.DE — Risk / Return Rank
EIBX.DE
SMLD.DE
EIBX.DE vs. SMLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Euro Government Bond 7-10 Year UCITS ETF Dist (EIBX.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.
| EIBX.DE | SMLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.21 | ||
| Sortino ratioReturn per unit of downside risk | -1.64 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.22 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | 2.23 | -2.12 |
| Martin ratioReturn relative to average drawdown | 0.28 | 4.90 | -4.62 |
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Drawdowns
EIBX.DE vs. SMLD.DE - Drawdown Comparison
The maximum EIBX.DE drawdown since its inception was -23.08%, smaller than the maximum SMLD.DE drawdown of -83.65%. Use the drawdown chart below to compare losses from any high point for EIBX.DE and SMLD.DE.
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Drawdown Indicators
| EIBX.DE | SMLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.08% | -83.65% | +60.57% |
Max Drawdown (1Y)Largest decline over 1 year | -4.07% | -9.68% | +5.61% |
Max Drawdown (3Y)Largest decline over 3 years | -4.43% | -22.99% | +18.56% |
Max Drawdown (5Y)Largest decline over 5 years | -22.78% | -22.99% | +0.21% |
Max Drawdown (10Y)Largest decline over 10 years | — | -76.32% | — |
Current DrawdownCurrent decline from peak | -13.74% | -0.51% | -13.23% |
Average DrawdownAverage peak-to-trough decline | -11.09% | -33.92% | +22.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 4.42% | -2.81% |
Volatility
EIBX.DE vs. SMLD.DE - Volatility Comparison
The current volatility for Invesco Euro Government Bond 7-10 Year UCITS ETF Dist (EIBX.DE) is 1.55%, while Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) has a volatility of 3.72%. This indicates that EIBX.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
| EIBX.DE | SMLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 3.72% | -2.17% |
Volatility (6M)Calculated over the trailing 6-month period | 4.25% | 12.97% | -8.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.14% | 16.65% | -11.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.43% | 20.28% | -12.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.56% | 29.07% | -22.51% |
EIBX.DE vs. SMLD.DE - Expense Ratio Comparison
EIBX.DE has a 0.10% expense ratio, which is lower than SMLD.DE's 0.50% expense ratio.
Dividends
EIBX.DE vs. SMLD.DE - Dividend Comparison
EIBX.DE's dividend yield for the trailing twelve months is around 3.01%, less than SMLD.DE's 7.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIBX.DE Invesco Euro Government Bond 7-10 Year UCITS ETF Dist | 3.01% | 2.89% | 2.87% | 2.43% | 0.12% | 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 | 7.47% | 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
EIBX.DE and SMLD.DE have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EIBX.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EIBX.DE is cheaper with a 0.10% expense ratio, compared with 0.50% for SMLD.DE.
EIBX.DE is categorized as European Government Bonds, while SMLD.DE is Energy Equities. EIBX.DE tracks Bloomberg Euro Government Select 7-10, while SMLD.DE tracks Morningstar MLP Composite. Their fees differ too: 0.10% for EIBX.DE and 0.50% for SMLD.DE.
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