EUCO.L vs. IEBC.L
EUCO.L (SPDR Bloomberg Euro Corporate Bond UCITS ETF) and IEBC.L (iShares Core Euro Corporate Bond UCITS ETF (Dist)) are both European Corporate Bonds funds tracking the Bloomberg Euro Corp TR EUR, from State Street and iShares respectively. Both are passively managed. Over the past 10 years, EUCO.L returned 1.02%/yr vs 1.33%/yr for IEBC.L. A 0.57 correlation means they provide meaningful diversification when combined. EUCO.L charges 0.12%/yr vs 0.20%/yr for IEBC.L.
Performance
EUCO.L vs. IEBC.L - Performance Comparison
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Different Trading Currencies
EUCO.L is traded in EUR, while IEBC.L is traded in GBP. To make them comparable, the IEBC.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, EUCO.L achieves a 0.53% return, which is significantly lower than IEBC.L's 0.76% return. Over the past 10 years, EUCO.L has underperformed IEBC.L with an annualized return of 1.02%, while IEBC.L has yielded a comparatively higher 1.33% annualized return.
EUCO.L
- 1D
- 0.09%
- 1M
- 0.70%
- YTD
- 0.53%
- 6M
- 0.41%
- 1Y
- 1.90%
- 3Y*
- 4.56%
- 5Y*
- 0.01%
- 10Y*
- 1.02%
IEBC.L
- 1D
- 0.17%
- 1M
- 0.87%
- YTD
- 0.76%
- 6M
- 0.82%
- 1Y
- 2.59%
- 3Y*
- 5.15%
- 5Y*
- 0.50%
- 10Y*
- 1.33%
EUCO.L vs. IEBC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUCO.L SPDR Bloomberg Euro Corporate Bond UCITS ETF | 0.53% | 2.91% | 4.46% | 7.64% | -13.67% | -1.21% | 2.64% | 6.74% | -1.39% | 2.08% |
IEBC.L iShares Core Euro Corporate Bond UCITS ETF (Dist) | 0.76% | 3.72% | 4.75% | 8.09% | -13.11% | -1.88% | 3.04% | 7.55% | -1.68% | 1.80% |
Correlation
The correlation between EUCO.L and IEBC.L is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2014 | 0.57 |
The correlation between EUCO.L and IEBC.L shifts across timeframes, from 0.57 (all time) to 0.75 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EUCO.L vs. IEBC.L — Risk / Return Rank
EUCO.L
IEBC.L
EUCO.L vs. IEBC.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 Core Euro Corporate Bond UCITS ETF (Dist) (IEBC.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.
| EUCO.L | IEBC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.13 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.71 | 0.89 | -0.18 |
| Martin ratioReturn relative to average drawdown | 2.45 | 3.02 | -0.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EUCO.L | IEBC.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.59 | 0.72 | -0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.00 | 0.09 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.23 | 0.23 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.66 | -0.39 |
Drawdowns
EUCO.L vs. IEBC.L - Drawdown Comparison
The maximum EUCO.L drawdown since its inception was -17.53%, roughly equal to the maximum IEBC.L drawdown of -17.82%. Use the drawdown chart below to compare losses from any high point for EUCO.L and IEBC.L.
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Drawdown Indicators
| EUCO.L | IEBC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.53% | -17.82% | +0.29% |
Max Drawdown (1Y)Largest decline over 1 year | -2.66% | -2.89% | +0.23% |
Max Drawdown (3Y)Largest decline over 3 years | -2.66% | -2.89% | +0.23% |
Max Drawdown (5Y)Largest decline over 5 years | -17.53% | -17.78% | +0.25% |
Max Drawdown (10Y)Largest decline over 10 years | -17.53% | -17.82% | +0.29% |
Current DrawdownCurrent decline from peak | -1.45% | -0.73% | -0.72% |
Average DrawdownAverage peak-to-trough decline | -3.86% | -2.87% | -0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.86% | -0.09% |
Volatility
EUCO.L vs. IEBC.L - Volatility Comparison
SPDR Bloomberg Euro Corporate Bond UCITS ETF (EUCO.L) and iShares Core Euro Corporate Bond UCITS ETF (Dist) (IEBC.L) have volatilities of 1.18% and 1.17%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUCO.L | IEBC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 1.17% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.70% | 2.99% | -0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.19% | 3.58% | -0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.52% | 5.32% | -0.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.45% | 5.90% | -1.45% |
EUCO.L vs. IEBC.L - Expense Ratio Comparison
EUCO.L has a 0.12% expense ratio, which is lower than IEBC.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. IEBC.L - Dividend Comparison
EUCO.L's dividend yield for the trailing twelve months is around 3.26%, less than IEBC.L's 3.85% 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% | 1.38% | 0.89% | 1.21% | 1.36% | 1.71% |
IEBC.L iShares Core Euro Corporate Bond UCITS ETF (Dist) | 3.85% | 3.76% | 4.10% | 2.89% | 0.94% | 0.97% | 0.93% | 1.30% | 1.09% | 1.72% | 1.94% | 1.22% |
Frequently Asked Questions
EUCO.L and IEBC.L have a correlation of 0.62, 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 IEBC.L.
Both ETFs track Bloomberg Euro Corp TR EUR. They also come from different issuers: State Street and iShares. Their fees differ too: 0.12% for EUCO.L and 0.20% for IEBC.L.
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