EXHD.DE vs. IBCA.DE
EXHD.DE (iShares eb.rexx Government Germany 5.5-10.5yr UCITS ETF (DE)) and IBCA.DE (iShares Euro Government Bond 1-3yr UCITS ETF (Dist)) are both European Government Bonds funds from iShares - EXHD.DE tracks the eb.rexx® Government Germany 5.5-10.5 while IBCA.DE tracks the Bloomberg Euro Government Bond 1-3. Both are passively managed. Over the past 10 years, EXHD.DE returned -1.06%/yr vs 0.36%/yr for IBCA.DE. At a 0.39 correlation, their price movements are largely independent. EXHD.DE charges 0.16%/yr vs 0.15%/yr for IBCA.DE.
Performance
EXHD.DE vs. IBCA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EXHD.DE achieves a -0.51% return, which is significantly lower than IBCA.DE's 0.16% return. Over the past 10 years, EXHD.DE has underperformed IBCA.DE with an annualized return of -1.06%, while IBCA.DE has yielded a comparatively higher 0.36% annualized return.
EXHD.DE
- 1D
- 0.17%
- 1M
- -0.45%
- YTD
- -0.51%
- 6M
- -0.74%
- 1Y
- -0.85%
- 3Y*
- 1.05%
- 5Y*
- -2.82%
- 10Y*
- -1.06%
IBCA.DE
- 1D
- 0.06%
- 1M
- 0.09%
- YTD
- 0.16%
- 6M
- 0.30%
- 1Y
- 1.12%
- 3Y*
- 2.71%
- 5Y*
- 0.81%
- 10Y*
- 0.36%
EXHD.DE vs. IBCA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EXHD.DE iShares eb.rexx Government Germany 5.5-10.5yr UCITS ETF (DE) | -0.51% | -0.38% | -0.04% | 6.26% | -17.27% | -2.39% | 2.08% | 2.53% | 2.35% | -1.12% |
IBCA.DE iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 0.16% | 2.31% | 3.05% | 3.50% | -4.26% | -0.84% | -0.15% | 0.14% | -0.27% | 0.02% |
Correlation
The correlation between EXHD.DE and IBCA.DE is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2006 | 0.39 |
Over the past year, EXHD.DE and IBCA.DE have become more correlated (0.74) than their long-term average of 0.39, meaning their price movements have been converging.
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Return for Risk
EXHD.DE vs. IBCA.DE — Risk / Return Rank
EXHD.DE
IBCA.DE
EXHD.DE vs. IBCA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares eb.rexx Government Germany 5.5-10.5yr UCITS ETF (DE) (EXHD.DE) and iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.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.
| EXHD.DE | IBCA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.02 | ||
| Sortino ratioReturn per unit of downside risk | -1.41 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.15 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.35 | 0.84 | -1.19 |
| Martin ratioReturn relative to average drawdown | -0.91 | 2.70 | -3.60 |
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
| EXHD.DE | IBCA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.31 | 0.71 | -1.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.44 | 0.52 | -0.96 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.20 | 0.09 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.25 | +0.09 |
Drawdowns
EXHD.DE vs. IBCA.DE - Drawdown Comparison
The maximum EXHD.DE drawdown since its inception was -22.41%, which is greater than IBCA.DE's maximum drawdown of -8.31%. Use the drawdown chart below to compare losses from any high point for EXHD.DE and IBCA.DE.
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Drawdown Indicators
| EXHD.DE | IBCA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.41% | -8.31% | -14.10% |
Max Drawdown (1Y)Largest decline over 1 year | -3.79% | -1.14% | -2.65% |
Max Drawdown (3Y)Largest decline over 3 years | -4.84% | -1.14% | -3.70% |
Max Drawdown (5Y)Largest decline over 5 years | -20.34% | -5.21% | -15.13% |
Max Drawdown (10Y)Largest decline over 10 years | -22.41% | -8.31% | -14.10% |
Current DrawdownCurrent decline from peak | -17.09% | -0.45% | -16.64% |
Average DrawdownAverage peak-to-trough decline | -5.58% | -1.03% | -4.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.48% | 0.36% | +1.12% |
Volatility
EXHD.DE vs. IBCA.DE - Volatility Comparison
iShares eb.rexx Government Germany 5.5-10.5yr UCITS ETF (DE) (EXHD.DE) has a higher volatility of 1.99% compared to iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.DE) at 0.64%. This indicates that EXHD.DE's price experiences larger fluctuations and is considered to be riskier than IBCA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EXHD.DE | IBCA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 0.64% | +1.35% |
Volatility (6M)Calculated over the trailing 6-month period | 3.57% | 1.27% | +2.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.30% | 1.36% | +2.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.35% | 1.55% | +4.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.16% | 3.81% | +1.35% |
EXHD.DE vs. IBCA.DE - Expense Ratio Comparison
EXHD.DE has a 0.16% expense ratio, which is higher than IBCA.DE's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EXHD.DE vs. IBCA.DE - Dividend Comparison
EXHD.DE's dividend yield for the trailing twelve months is around 1.37%, less than IBCA.DE's 2.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXHD.DE iShares eb.rexx Government Germany 5.5-10.5yr UCITS ETF (DE) | 1.37% | 1.73% | 1.44% | 0.88% | 1.26% | 1.35% | 1.01% | 0.96% | 1.00% | 1.26% | 1.40% | 1.77% |
IBCA.DE iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 2.18% | 2.45% | 2.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.04% | 0.29% |
Frequently Asked Questions
EXHD.DE and IBCA.DE have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBCA.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBCA.DE is cheaper with a 0.15% expense ratio, compared with 0.16% for EXHD.DE.
EXHD.DE tracks eb.rexx® Government Germany 5.5-10.5, while IBCA.DE tracks Bloomberg Euro Government Bond 1-3. Their fees differ too: 0.16% for EXHD.DE and 0.15% for IBCA.DE.
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