GFEA.DE vs. IBC9.DE
GFEA.DE (VanEck Global Fallen Angel High Yield Bond UCITS ETF) and IBC9.DE (iShares Global High Yield Corporate Bond UCITS ETF) are both High Yield Bonds funds - GFEA.DE tracks the ICE Global Fallen Angel High Yield 10% Constrained while IBC9.DE tracks the iBoxx® Global Developed Markets Liquid High Yield Capped. Both are passively managed. Over the past 5 years, GFEA.DE returned 4.25%/yr vs 3.91%/yr for IBC9.DE. A 0.54 correlation means they provide meaningful diversification when combined. GFEA.DE charges 0.40%/yr vs 0.50%/yr for IBC9.DE.
Performance
GFEA.DE vs. IBC9.DE - Performance Comparison
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Returns By Period
In the year-to-date period, GFEA.DE achieves a 5.14% return, which is significantly higher than IBC9.DE's 1.87% return.
GFEA.DE
- 1D
- -0.60%
- 1M
- 1.51%
- YTD
- 5.14%
- 6M
- 4.54%
- 1Y
- 7.23%
- 3Y*
- 6.53%
- 5Y*
- 4.25%
- 10Y*
- —
IBC9.DE
- 1D
- -0.13%
- 1M
- 0.64%
- YTD
- 1.87%
- 6M
- 1.54%
- 1Y
- 4.30%
- 3Y*
- 6.02%
- 5Y*
- 3.91%
- 10Y*
- 4.28%
GFEA.DE vs. IBC9.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 | 5.14% | -2.31% | 12.20% | 6.70% | -7.42% | 10.35% | 6.62% | 16.50% | 1.86% |
IBC9.DE iShares Global High Yield Corporate Bond UCITS ETF | 1.87% | 1.08% | 9.31% | 9.25% | -6.54% | 8.54% | -2.13% | 14.97% | 1.76% |
Correlation
The correlation between GFEA.DE and IBC9.DE is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Apr 26, 2018 | 0.54 |
The correlation between GFEA.DE and IBC9.DE shifts across timeframes, from 0.54 (all time) to 0.65 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
GFEA.DE vs. IBC9.DE — Risk / Return Rank
GFEA.DE
IBC9.DE
GFEA.DE vs. IBC9.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 Global High Yield Corporate Bond UCITS ETF (IBC9.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.
| GFEA.DE | IBC9.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.20 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 1.88 | +1.04 |
| Martin ratioReturn relative to average drawdown | 9.56 | 6.58 | +2.98 |
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
| GFEA.DE | IBC9.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 1.10 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | 0.69 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.54 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.56 | +0.21 |
Drawdowns
GFEA.DE vs. IBC9.DE - Drawdown Comparison
The maximum GFEA.DE drawdown since its inception was -22.87%, roughly equal to the maximum IBC9.DE drawdown of -22.34%. Use the drawdown chart below to compare losses from any high point for GFEA.DE and IBC9.DE.
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Drawdown Indicators
| GFEA.DE | IBC9.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.87% | -22.34% | -0.53% |
Max Drawdown (1Y)Largest decline over 1 year | -2.44% | -2.13% | -0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -9.98% | -6.78% | -3.20% |
Max Drawdown (5Y)Largest decline over 5 years | -10.97% | -10.01% | -0.96% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.34% | — |
Current DrawdownCurrent decline from peak | -0.60% | -0.13% | -0.47% |
Average DrawdownAverage peak-to-trough decline | -3.37% | -3.23% | -0.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 0.61% | +0.14% |
Volatility
GFEA.DE vs. IBC9.DE - Volatility Comparison
VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFEA.DE) has a higher volatility of 1.85% compared to iShares Global High Yield Corporate Bond UCITS ETF (IBC9.DE) at 0.84%. This indicates that GFEA.DE's price experiences larger fluctuations and is considered to be riskier than IBC9.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 | IBC9.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.85% | 0.84% | +1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 4.63% | 2.76% | +1.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.85% | 3.64% | +2.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.72% | 5.64% | +2.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.51% | 7.85% | +1.66% |
GFEA.DE vs. IBC9.DE - Expense Ratio Comparison
GFEA.DE has a 0.40% expense ratio, which is lower than IBC9.DE's 0.50% expense ratio.
Dividends
GFEA.DE vs. IBC9.DE - Dividend Comparison
GFEA.DE has not paid dividends to shareholders, while IBC9.DE's dividend yield for the trailing twelve months is around 5.56%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
IBC9.DE iShares Global High Yield Corporate Bond UCITS ETF | 5.56% | 5.55% | 5.32% | 4.88% | 4.06% | 3.76% | 4.80% | 4.78% | 4.77% | 5.03% | 4.78% | 5.18% |
Frequently Asked Questions
GFEA.DE and IBC9.DE have a correlation of 0.61, 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 0.50% for IBC9.DE.
GFEA.DE tracks ICE Global Fallen Angel High Yield 10% Constrained, while IBC9.DE tracks iBoxx® Global Developed Markets Liquid High Yield Capped. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.40% for GFEA.DE and 0.50% for IBC9.DE.
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