GB1E.DE vs. UEEF.DE
GB1E.DE (Invesco Global High Yield Corporate Bond ESG Climate Transition UCITS ETF EUR PfHdg Acc) and UEEF.DE (iShares $ High Yield Corp Bond ESG SRI UCITS ETF EUR Hedged (Acc)) are both High Yield Bonds funds - GB1E.DE tracks the Bloomberg MSCI Global High Yield Liquid Corporate Climate Transition ESG Bond Index while UEEF.DE tracks the Bloomberg MSCI US Corporate High Yield ESG SRI Bond Index (EUR Hedged). Both are passively managed. Over the past 3 years, GB1E.DE returned 6.43%/yr vs 6.52%/yr for UEEF.DE. A 0.73 correlation means they provide meaningful diversification when combined. GB1E.DE charges 0.30%/yr vs 0.27%/yr for UEEF.DE.
Performance
GB1E.DE vs. UEEF.DE - Performance Comparison
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Returns By Period
In the year-to-date period, GB1E.DE achieves a 1.22% return, which is significantly higher than UEEF.DE's 0.70% return.
GB1E.DE
- 1D
- 0.00%
- 1M
- 0.53%
- 6M
- 1.23%
- YTD
- 1.22%
- 1Y
- 3.23%
- 3Y*
- 6.43%
- 5Y*
- —
- 10Y*
- —
UEEF.DE
- 1D
- -0.17%
- 1M
- 0.52%
- 6M
- 0.87%
- YTD
- 0.70%
- 1Y
- 3.21%
- 3Y*
- 6.52%
- 5Y*
- 1.44%
- 10Y*
- —
GB1E.DE vs. UEEF.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GB1E.DE Invesco Global High Yield Corporate Bond ESG Climate Transition UCITS ETF EUR PfHdg Acc | 1.22% | 5.84% | 5.89% | 6.74% |
UEEF.DE iShares $ High Yield Corp Bond ESG SRI UCITS ETF EUR Hedged (Acc) | 0.70% | 6.88% | 5.91% | 6.72% |
Correlation
The correlation between GB1E.DE and UEEF.DE is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Apr 12, 2023 | 0.73 |
The correlation between GB1E.DE and UEEF.DE has been stable across timeframes, ranging from 0.68 to 0.73 - a consistent structural relationship.
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Return for Risk
GB1E.DE vs. UEEF.DE — Risk / Return Rank
GB1E.DE
UEEF.DE
GB1E.DE vs. UEEF.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global High Yield Corporate Bond ESG Climate Transition UCITS ETF EUR PfHdg Acc (GB1E.DE) and iShares $ High Yield Corp Bond ESG SRI UCITS ETF EUR Hedged (Acc) (UEEF.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.
| GB1E.DE | UEEF.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.14 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.04 | 1.15 | -0.11 |
| Martin ratioReturn relative to average drawdown | 4.32 | 4.84 | -0.52 |
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Drawdowns
GB1E.DE vs. UEEF.DE - Drawdown Comparison
The maximum GB1E.DE drawdown since its inception was -4.31%, smaller than the maximum UEEF.DE drawdown of -17.83%. Use the drawdown chart below to compare losses from any high point for GB1E.DE and UEEF.DE.
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Drawdown Indicators
| GB1E.DE | UEEF.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.31% | -17.83% | +13.52% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -2.77% | -0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -4.31% | -5.10% | +0.79% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.83% | — |
Current DrawdownCurrent decline from peak | -0.08% | -0.17% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -0.55% | -4.89% | +4.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 0.65% | +0.10% |
Volatility
GB1E.DE vs. UEEF.DE - Volatility Comparison
The current volatility for Invesco Global High Yield Corporate Bond ESG Climate Transition UCITS ETF EUR PfHdg Acc (GB1E.DE) is 1.05%, while iShares $ High Yield Corp Bond ESG SRI UCITS ETF EUR Hedged (Acc) (UEEF.DE) has a volatility of 1.20%. This indicates that GB1E.DE experiences smaller price fluctuations and is considered to be less risky than UEEF.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GB1E.DE | UEEF.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 1.20% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 3.46% | 3.80% | -0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.94% | 4.53% | -0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.26% | 7.11% | -2.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.26% | 6.78% | -2.52% |
GB1E.DE vs. UEEF.DE - Expense Ratio Comparison
GB1E.DE has a 0.30% expense ratio, which is higher than UEEF.DE's 0.27% expense ratio.
Dividends
GB1E.DE vs. UEEF.DE - Dividend Comparison
Neither GB1E.DE nor UEEF.DE has paid dividends to shareholders.
Frequently Asked Questions
GB1E.DE and UEEF.DE have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UEEF.DE is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UEEF.DE is cheaper with a 0.27% expense ratio, compared with 0.30% for GB1E.DE.
GB1E.DE tracks Bloomberg MSCI Global High Yield Liquid Corporate Climate Transition ESG Bond Index, while UEEF.DE tracks Bloomberg MSCI US Corporate High Yield ESG SRI Bond Index (EUR Hedged). They also come from different issuers: Invesco and iShares. Their fees differ too: 0.30% for GB1E.DE and 0.27% for UEEF.DE.
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