EUCO.L vs. IE15.L
EUCO.L (SPDR Bloomberg Euro Corporate Bond UCITS ETF) and IE15.L (iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist)) are both exchange-traded funds - EUCO.L is a European Corporate Bonds fund tracking the Bloomberg Euro Corp TR EUR, while IE15.L is a Short-Term Bond fund tracking the BBG Euro Corp 1-5 Yrs (EUR). Both are passively managed. Over the past 10 years, EUCO.L returned 0.76%/yr vs 0.76%/yr for IE15.L. A 0.77 correlation means they provide meaningful diversification when combined. EUCO.L charges 0.12%/yr vs 0.20%/yr for IE15.L.
Performance
EUCO.L vs. IE15.L - Performance Comparison
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Returns By Period
In the year-to-date period, EUCO.L achieves a 0.44% return, which is significantly higher than IE15.L's -1.15% return. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: EUCO.L at 0.76% and IE15.L at 0.76%.
EUCO.L
- 1D
- -0.04%
- 1M
- -0.47%
- 6M
- 0.16%
- YTD
- 0.44%
- 1Y
- 1.25%
- 3Y*
- 4.23%
- 5Y*
- -0.18%
- 10Y*
- 0.76%
IE15.L
- 1D
- -0.04%
- 1M
- -0.18%
- 6M
- 0.17%
- YTD
- -1.15%
- 1Y
- -0.29%
- 3Y*
- 3.52%
- 5Y*
- 0.68%
- 10Y*
- 0.76%
EUCO.L vs. IE15.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUCO.L SPDR Bloomberg Euro Corporate Bond UCITS ETF | 0.44% | 2.90% | 4.47% | 7.64% | -13.68% | -1.22% | 2.64% | 6.22% | -1.39% | 2.08% |
IE15.L iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist) | -1.15% | 3.42% | 4.34% | 5.77% | -7.79% | -0.34% | 1.06% | 2.63% | -0.65% | 0.86% |
Correlation
The correlation between EUCO.L and IE15.L is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Dec 9, 2014 | 0.77 |
The correlation between EUCO.L and IE15.L shifts across timeframes, from 0.75 (1 year) to 0.85 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EUCO.L vs. IE15.L — Risk / Return Rank
EUCO.L
IE15.L
EUCO.L vs. IE15.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Euro Corporate Bond UCITS ETF (EUCO.L) and iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist) (IE15.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.
| EUCO.L | IE15.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 0.98 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.47 | -0.10 | +0.57 |
| Martin ratioReturn relative to average drawdown | 1.56 | -0.25 | +1.81 |
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Drawdowns
EUCO.L vs. IE15.L - Drawdown Comparison
The maximum EUCO.L drawdown since its inception was -17.53%, which is greater than IE15.L's maximum drawdown of -10.14%. Use the drawdown chart below to compare losses from any high point for EUCO.L and IE15.L.
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Drawdown Indicators
| EUCO.L | IE15.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.53% | -10.14% | -7.39% |
Max Drawdown (1Y)Largest decline over 1 year | -2.67% | -2.86% | +0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -2.67% | -2.86% | +0.19% |
Max Drawdown (5Y)Largest decline over 5 years | -17.53% | -10.14% | -7.39% |
Max Drawdown (10Y)Largest decline over 10 years | -17.53% | -10.14% | -7.39% |
Current DrawdownCurrent decline from peak | -1.55% | -1.40% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -3.82% | -1.46% | -2.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 1.16% | -0.36% |
Volatility
EUCO.L vs. IE15.L - Volatility Comparison
SPDR Bloomberg Euro Corporate Bond UCITS ETF (EUCO.L) has a higher volatility of 0.82% compared to iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist) (IE15.L) at 0.58%. This indicates that EUCO.L's price experiences larger fluctuations and is considered to be riskier than IE15.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUCO.L | IE15.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 0.58% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 2.79% | 1.85% | +0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.21% | 2.50% | +0.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.54% | 2.75% | +1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.45% | 3.32% | +1.13% |
EUCO.L vs. IE15.L - Expense Ratio Comparison
EUCO.L has a 0.12% expense ratio, which is lower than IE15.L's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EUCO.L vs. IE15.L - Dividend Comparison
EUCO.L's dividend yield for the trailing twelve months is around 3.26%, more than IE15.L's 1.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUCO.L SPDR Bloomberg Euro Corporate Bond UCITS ETF | 3.26% | 3.25% | 3.07% | 2.13% | 0.96% | 0.89% | 0.86% | 0.92% | 0.89% | 1.21% | 1.36% | 1.71% |
IE15.L iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist) | 1.51% | 2.92% | 2.50% | 1.41% | 0.51% | 0.57% | 0.59% | 0.62% | 0.62% | 0.68% | 0.90% | 0.56% |
Frequently Asked Questions
EUCO.L and IE15.L have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUCO.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUCO.L is cheaper with a 0.12% expense ratio, compared with 0.20% for IE15.L.
EUCO.L is categorized as European Corporate Bonds, while IE15.L is Short-Term Bond. EUCO.L tracks Bloomberg Euro Corp TR EUR, while IE15.L tracks BBG Euro Corp 1-5 Yrs (EUR). They also come from different issuers: State Street and iShares. Their fees differ too: 0.12% for EUCO.L and 0.20% for IE15.L.
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