IBC2.DE vs. GFEA.DE
IBC2.DE (iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist)) and GFEA.DE (VanEck Global Fallen Angel High Yield Bond UCITS ETF) are both High Yield Bonds funds - IBC2.DE tracks the Markit iBoxx USD Liquid High Yield Capped Index (EUR Hedged) while GFEA.DE tracks the ICE Global Fallen Angel High Yield 10% Constrained. Both are passively managed. Over the past 5 years, IBC2.DE returned 1.62%/yr vs 3.94%/yr for GFEA.DE. At a 0.35 correlation, their price movements are largely independent. IBC2.DE charges 0.55%/yr vs 0.40%/yr for GFEA.DE.
Performance
IBC2.DE vs. GFEA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBC2.DE achieves a 0.98% return, which is significantly lower than GFEA.DE's 7.75% return.
IBC2.DE
- 1D
- 0.00%
- 1M
- 0.52%
- 6M
- 0.98%
- YTD
- 0.98%
- 1Y
- 3.60%
- 3Y*
- 6.22%
- 5Y*
- 1.62%
- 10Y*
- —
GFEA.DE
- 1D
- 0.27%
- 1M
- 1.87%
- 6M
- 7.70%
- YTD
- 7.75%
- 1Y
- 10.30%
- 3Y*
- 7.44%
- 5Y*
- 3.94%
- 10Y*
- —
IBC2.DE vs. GFEA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% |
GFEA.DE VanEck Global Fallen Angel High Yield Bond UCITS ETF | 7.75% | -2.31% | 12.21% | 6.69% | -7.67% | 10.64% | 6.81% | 16.29% | -16.16% |
Correlation
The correlation between IBC2.DE and GFEA.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 IBC2.DE and GFEA.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
IBC2.DE vs. GFEA.DE — Risk / Return Rank
IBC2.DE
GFEA.DE
IBC2.DE vs. GFEA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) (IBC2.DE) and VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFEA.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.
| IBC2.DE | GFEA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.28 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.18 | 4.19 | -3.01 |
| Martin ratioReturn relative to average drawdown | 5.24 | 13.66 | -8.42 |
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Drawdowns
IBC2.DE vs. GFEA.DE - Drawdown Comparison
The maximum IBC2.DE drawdown since its inception was -22.54%, roughly equal to the maximum GFEA.DE drawdown of -22.88%. Use the drawdown chart below to compare losses from any high point for IBC2.DE and GFEA.DE.
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Drawdown Indicators
| IBC2.DE | GFEA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.54% | -22.88% | +0.34% |
Max Drawdown (1Y)Largest decline over 1 year | -3.03% | -2.45% | -0.58% |
Max Drawdown (3Y)Largest decline over 3 years | -4.22% | -9.97% | +5.75% |
Max Drawdown (5Y)Largest decline over 5 years | -15.71% | -10.96% | -4.75% |
Current DrawdownCurrent decline from peak | -0.00% | -0.40% | +0.40% |
Average DrawdownAverage peak-to-trough decline | -3.57% | -5.00% | +1.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 0.75% | -0.06% |
Volatility
IBC2.DE vs. GFEA.DE - Volatility Comparison
The current volatility for iShares $ High Yield Corp Bond UCITS ETF EUR Hedged (Dist) (IBC2.DE) is 0.91%, while VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFEA.DE) has a volatility of 2.77%. This indicates that IBC2.DE experiences smaller price fluctuations and is considered to be less risky than GFEA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBC2.DE | GFEA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 2.77% | -1.86% |
Volatility (6M)Calculated over the trailing 6-month period | 3.27% | 5.52% | -2.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 6.86% | -2.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.95% | 7.82% | -0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.21% | 10.56% | -2.35% |
IBC2.DE vs. GFEA.DE - Expense Ratio Comparison
IBC2.DE has a 0.55% expense ratio, which is higher than GFEA.DE's 0.40% expense ratio.
Dividends
IBC2.DE vs. GFEA.DE - Dividend Comparison
IBC2.DE's dividend yield for the trailing twelve months is around 6.19%, while GFEA.DE has not paid dividends to shareholders.
| 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
IBC2.DE and GFEA.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.
IBC2.DE tracks Markit iBoxx USD Liquid High Yield Capped Index (EUR Hedged), while GFEA.DE tracks ICE Global Fallen Angel High Yield 10% Constrained. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.55% for IBC2.DE and 0.40% for GFEA.DE.
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