EUCO.L vs. XZE5.L

Last updated Jun 5, 2026

EUCO.L (SPDR Bloomberg Euro Corporate Bond UCITS ETF) and XZE5.L (Xtrackers II EUR Corporate Bond Short Duration SRI PAB UCITS ETF 1C) are both European Corporate Bonds funds tracking the Bloomberg Euro Corp TR EUR, from State Street and Xtrackers respectively. Both are passively managed. At a 0.49 correlation, their price movements are largely independent. EUCO.L charges 0.12%/yr vs 0.16%/yr for XZE5.L.

Performance

EUCO.L vs. XZE5.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR Bloomberg Euro Corporate Bond UCITS ETF (EUCO.L) and Xtrackers II EUR Corporate Bond Short Duration SRI PAB UCITS ETF 1C (XZE5.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

EUCO.L is traded in EUR, while XZE5.L is traded in GBP. To make them comparable, the XZE5.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

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%

XZE5.L

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EUCO.L vs. XZE5.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
EUCO.L SPDR Bloomberg Euro Corporate Bond UCITS ETF	0.53%	2.91%	4.46%	7.64%	-13.67%	-1.21%	2.52%
XZE5.L Xtrackers II EUR Corporate Bond Short Duration SRI PAB UCITS ETF 1C	-0.20%	2.98%	4.20%	5.30%	-6.60%	-0.75%	1.23%

Correlation

The correlation between EUCO.L and XZE5.L is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jul 30, 2020	0.49

The correlation between EUCO.L and XZE5.L shifts across timeframes, from 0.36 (1 year) to 0.54 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

EUCO.L vs. XZE5.L — Risk / Return Rank

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

EUCO.L

EUCO.L Risk / Return Rank: 19
EUCO.L Sharpe Ratio Rank: 19
EUCO.L Sortino Ratio Rank: 18
EUCO.L Omega Ratio Rank: 19
EUCO.L Calmar Ratio Rank: 18
EUCO.L Martin Ratio Rank: 21

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.

EUCO.L vs. XZE5.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 Xtrackers II EUR Corporate Bond Short Duration SRI PAB UCITS ETF 1C (XZE5.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	XZE5.L	Difference
Sharpe ratio: Return per unit of total volatility	0.59	—	—
Sortino ratio: Return per unit of downside risk	0.89	—	—
Omega ratio: Gain probability vs. loss probability	1.11	—	—
Calmar ratio: Return relative to maximum drawdown	0.71	—	—
Martin ratio: Return relative to average drawdown	2.45	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	EUCO.L	XZE5.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.59	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.00	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	—	—

Drawdowns

Drawdown Indicators

	EUCO.L	XZE5.L	Difference
Max Drawdown Largest peak-to-trough decline	-17.53%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-2.66%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-2.66%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.53%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-17.53%	—	—
Current Drawdown Current decline from peak	-1.45%	—	—
Average Drawdown Average peak-to-trough decline	-3.86%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.77%	—	—

Volatility

Volatility by Period

	EUCO.L	XZE5.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.18%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.70%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.19%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.52%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.45%	—	—

EUCO.L vs. XZE5.L - Expense Ratio Comparison

EUCO.L has a 0.12% expense ratio, which is lower than XZE5.L's 0.16% 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. XZE5.L - Dividend Comparison

EUCO.L's dividend yield for the trailing twelve months is around 3.26%, while XZE5.L has not paid dividends to shareholders.

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%
XZE5.L Xtrackers II EUR Corporate Bond Short Duration SRI PAB UCITS ETF 1C	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EUCO.L and XZE5.L in my portfolio?

EUCO.L and XZE5.L have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EUCO.L or XZE5.L?

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.

Which ETF is cheaper, EUCO.L or XZE5.L?

EUCO.L is cheaper with a 0.12% expense ratio, compared with 0.16% for XZE5.L.

What is the main difference between EUCO.L and XZE5.L?

Both ETFs track Bloomberg Euro Corp TR EUR. They also come from different issuers: State Street and Xtrackers. Their fees differ too: 0.12% for EUCO.L and 0.16% for XZE5.L.