GFEA.DE vs. IBC2.DE
GFEA.DE (VanEck Global Fallen Angel High Yield Bond UCITS ETF) and IBC2.DE (iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist)) are both High Yield Bonds funds - GFEA.DE tracks the ICE Global Fallen Angel High Yield 10% Constrained while IBC2.DE tracks the Markit iBoxx USD Liquid High Yield Capped Index (EUR Hedged). Both are passively managed. Over the past 5 years, GFEA.DE returned 3.70%/yr vs 1.66%/yr for IBC2.DE. At a 0.35 correlation, their price movements are largely independent. GFEA.DE charges 0.40%/yr vs 0.55%/yr for IBC2.DE.
Performance
GFEA.DE vs. IBC2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, GFEA.DE achieves a 6.88% return, which is significantly higher than IBC2.DE's 0.98% return.
GFEA.DE
- 1D
- 0.21%
- 1M
- 0.94%
- 6M
- 6.78%
- YTD
- 6.88%
- 1Y
- 8.93%
- 3Y*
- 7.74%
- 5Y*
- 3.70%
- 10Y*
- —
IBC2.DE
- 1D
- 0.26%
- 1M
- -0.00%
- 6M
- 0.73%
- YTD
- 0.98%
- 1Y
- 4.12%
- 3Y*
- 5.86%
- 5Y*
- 1.66%
- 10Y*
- —
GFEA.DE vs. IBC2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GFEA.DE VanEck Global Fallen Angel High Yield Bond UCITS ETF | 6.88% | -2.31% | 12.21% | 6.69% | -7.67% | 10.64% | 6.81% | 16.29% | -16.16% |
IBC2.DE iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) | 0.98% | 7.02% | 4.85% | 8.05% | -11.78% | 3.08% | 2.84% | 10.03% | -4.22% |
Correlation
The correlation between GFEA.DE and IBC2.DE is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2018 | 0.35 |
The correlation between GFEA.DE and IBC2.DE shifts across timeframes, from 0.25 (1 year) to 0.37 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
GFEA.DE vs. IBC2.DE — Risk / Return Rank
GFEA.DE
IBC2.DE
GFEA.DE vs. IBC2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFEA.DE) and iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) (IBC2.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.
| GFEA.DE | IBC2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.20 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.63 | 1.36 | +2.28 |
| Martin ratioReturn relative to average drawdown | 11.55 | 6.04 | +5.52 |
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Drawdowns
GFEA.DE vs. IBC2.DE - Drawdown Comparison
The maximum GFEA.DE drawdown since its inception was -22.88%, roughly equal to the maximum IBC2.DE drawdown of -22.54%. Use the drawdown chart below to compare losses from any high point for GFEA.DE and IBC2.DE.
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Drawdown Indicators
| GFEA.DE | IBC2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.88% | -22.54% | -0.34% |
Max Drawdown (1Y)Largest decline over 1 year | -2.45% | -3.03% | +0.58% |
Max Drawdown (3Y)Largest decline over 3 years | -9.97% | -4.22% | -5.75% |
Max Drawdown (5Y)Largest decline over 5 years | -10.96% | -15.71% | +4.75% |
Current DrawdownCurrent decline from peak | -1.20% | -0.00% | -1.20% |
Average DrawdownAverage peak-to-trough decline | -4.99% | -3.56% | -1.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.68% | +0.09% |
Volatility
GFEA.DE vs. IBC2.DE - Volatility Comparison
VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFEA.DE) has a higher volatility of 3.15% compared to iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) (IBC2.DE) at 0.79%. This indicates that GFEA.DE's price experiences larger fluctuations and is considered to be riskier than IBC2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GFEA.DE | IBC2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.15% | 0.79% | +2.36% |
Volatility (6M)Calculated over the trailing 6-month period | 5.40% | 3.27% | +2.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.01% | 4.17% | +2.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.85% | 6.95% | +0.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.56% | 8.20% | +2.36% |
GFEA.DE vs. IBC2.DE - Expense Ratio Comparison
GFEA.DE has a 0.40% expense ratio, which is lower than IBC2.DE's 0.55% expense ratio.
Dividends
GFEA.DE vs. IBC2.DE - Dividend Comparison
GFEA.DE has not paid dividends to shareholders, while IBC2.DE's dividend yield for the trailing twelve months is around 6.19%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
GFEA.DE VanEck Global Fallen Angel High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IBC2.DE iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) | 6.19% | 6.07% | 6.33% | 5.59% | 5.13% | 4.34% | 4.82% | 5.58% | 3.90% |
Frequently Asked Questions
GFEA.DE and IBC2.DE have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GFEA.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GFEA.DE is cheaper with a 0.40% expense ratio, compared with 0.55% for IBC2.DE.
GFEA.DE tracks ICE Global Fallen Angel High Yield 10% Constrained, while IBC2.DE tracks Markit iBoxx USD Liquid High Yield Capped Index (EUR Hedged). They also come from different issuers: VanEck and iShares. Their fees differ too: 0.40% for GFEA.DE and 0.55% for IBC2.DE.
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