IB01.L vs. SMEA.L
IB01.L (iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)) and SMEA.L (iShares Core MSCI Europe UCITS ETF EUR (Acc)) are both exchange-traded funds - IB01.L is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index, while SMEA.L is a Europe Equities fund tracking the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, IB01.L returned 3.23%/yr vs 9.14%/yr for SMEA.L. At a 0.04 correlation, their price movements are largely independent. IB01.L charges 0.07%/yr vs 0.12%/yr for SMEA.L.
Performance
IB01.L vs. SMEA.L - Performance Comparison
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Different Trading Currencies
IB01.L is traded in USD, while SMEA.L is traded in GBp. To make them comparable, the SMEA.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IB01.L achieves a 1.56% return, which is significantly lower than SMEA.L's 7.90% return.
IB01.L
- 1D
- 0.03%
- 1M
- 0.28%
- YTD
- 1.56%
- 6M
- 1.77%
- 1Y
- 3.96%
- 3Y*
- 4.71%
- 5Y*
- 3.23%
- 10Y*
- —
SMEA.L
- 1D
- 0.42%
- 1M
- 4.88%
- YTD
- 7.90%
- 6M
- 9.43%
- 1Y
- 19.83%
- 3Y*
- 15.95%
- 5Y*
- 9.14%
- 10Y*
- 10.16%
IB01.L vs. SMEA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) | 1.56% | 4.34% | 5.25% | 4.92% | 1.08% | -0.85% | 0.88% | 2.06% |
SMEA.L iShares Core MSCI Europe UCITS ETF EUR (Acc) | 7.90% | 35.38% | 1.96% | 19.34% | -13.80% | 15.88% | 5.57% | 14.57% |
Correlation
The correlation between IB01.L and SMEA.L is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2019 | 0.04 |
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Return for Risk
IB01.L vs. SMEA.L — Risk / Return Rank
IB01.L
SMEA.L
IB01.L vs. SMEA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L) and iShares Core MSCI Europe UCITS ETF EUR (Acc) (SMEA.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.
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.
| IB01.L | SMEA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +10.54 | ||
| Sortino ratioReturn per unit of downside risk | +34.78 | ||
| Omega ratioGain probability vs. loss probability | 7.99 | 1.25 | +6.74 |
| Calmar ratioReturn relative to maximum drawdown | 114.79 | 1.69 | +113.10 |
| Martin ratioReturn relative to average drawdown | 574.12 | 6.02 | +568.10 |
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Drawdowns
IB01.L vs. SMEA.L - Drawdown Comparison
The maximum IB01.L drawdown since its inception was -1.28%, smaller than the maximum SMEA.L drawdown of -36.21%. Use the drawdown chart below to compare losses from any high point for IB01.L and SMEA.L.
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Drawdown Indicators
| IB01.L | SMEA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.28% | -36.21% | +34.93% |
Max Drawdown (1Y)Largest decline over 1 year | -0.03% | -11.68% | +11.65% |
Max Drawdown (3Y)Largest decline over 3 years | -0.09% | -14.39% | +14.30% |
Max Drawdown (5Y)Largest decline over 5 years | -1.15% | -31.25% | +30.10% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.21% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.35% | +0.35% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -9.19% | +8.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 3.27% | -3.26% |
Volatility
IB01.L vs. SMEA.L - Volatility Comparison
The current volatility for iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L) is 0.09%, while iShares Core MSCI Europe UCITS ETF EUR (Acc) (SMEA.L) has a volatility of 4.14%. This indicates that IB01.L experiences smaller price fluctuations and is considered to be less risky than SMEA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IB01.L | SMEA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.09% | 4.14% | -4.05% |
Volatility (6M)Calculated over the trailing 6-month period | 0.23% | 12.07% | -11.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.33% | 14.48% | -14.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.54% | 21.00% | -20.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.79% | 19.46% | -18.67% |
IB01.L vs. SMEA.L - Expense Ratio Comparison
IB01.L has a 0.07% expense ratio, which is lower than SMEA.L's 0.12% 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
IB01.L vs. SMEA.L - Dividend Comparison
Neither IB01.L nor SMEA.L has paid dividends to shareholders.
Frequently Asked Questions
IB01.L and SMEA.L have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IB01.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IB01.L is cheaper with a 0.07% expense ratio, compared with 0.12% for SMEA.L.
IB01.L is categorized as Government Bonds, while SMEA.L is Europe Equities. IB01.L tracks ICE U.S. Treasury Short Bond Index, while SMEA.L tracks MSCI Europe NR EUR. Their fees differ too: 0.07% for IB01.L and 0.12% for SMEA.L.
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