IBCA.DE vs. EUNA.DE
IBCA.DE (iShares Euro Government Bond 1-3yr UCITS ETF (Dist)) and EUNA.DE (iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc) are both exchange-traded funds - IBCA.DE is a European Government Bonds fund tracking the Bloomberg Euro Government Bond 1-3, while EUNA.DE is a Global Bonds fund tracking the Bloomberg Global Aggregate Bond (EUR Hedged). Both are passively managed. Over the past 5 years, IBCA.DE returned 0.81%/yr vs -1.29%/yr for EUNA.DE. A 0.52 correlation means they provide meaningful diversification when combined. IBCA.DE charges 0.15%/yr vs 0.10%/yr for EUNA.DE.
Performance
IBCA.DE vs. EUNA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBCA.DE achieves a 0.16% return, which is significantly higher than EUNA.DE's -0.46% return.
IBCA.DE
- 1D
- 0.06%
- 1M
- 0.22%
- YTD
- 0.16%
- 6M
- 0.27%
- 1Y
- 0.96%
- 3Y*
- 2.71%
- 5Y*
- 0.81%
- 10Y*
- 0.36%
EUNA.DE
- 1D
- 0.22%
- 1M
- -0.12%
- YTD
- -0.46%
- 6M
- -0.07%
- 1Y
- 1.32%
- 3Y*
- 2.28%
- 5Y*
- -1.29%
- 10Y*
- —
IBCA.DE vs. EUNA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBCA.DE iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 0.16% | 2.31% | 3.05% | 3.50% | -4.26% | -0.84% | -0.15% | 0.14% | -0.27% | -0.21% |
EUNA.DE iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc | -0.46% | 2.79% | 1.60% | 4.36% | -13.52% | -2.37% | 3.70% | 5.06% | -1.17% | -0.54% |
Correlation
The correlation between IBCA.DE and EUNA.DE is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2017 | 0.52 |
The correlation between IBCA.DE and EUNA.DE shifts across timeframes, from 0.52 (all time) to 0.65 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBCA.DE vs. EUNA.DE — Risk / Return Rank
IBCA.DE
EUNA.DE
IBCA.DE vs. EUNA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.DE) and iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (EUNA.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.
| IBCA.DE | EUNA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.06 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 0.43 | +0.41 |
| Martin ratioReturn relative to average drawdown | 2.70 | 1.18 | +1.52 |
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
| IBCA.DE | EUNA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.71 | 0.34 | +0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | -0.28 | +0.80 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.09 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | -0.05 | +0.30 |
Drawdowns
IBCA.DE vs. EUNA.DE - Drawdown Comparison
The maximum IBCA.DE drawdown since its inception was -8.31%, smaller than the maximum EUNA.DE drawdown of -17.79%. Use the drawdown chart below to compare losses from any high point for IBCA.DE and EUNA.DE.
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Drawdown Indicators
| IBCA.DE | EUNA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.31% | -17.79% | +9.48% |
Max Drawdown (1Y)Largest decline over 1 year | -1.14% | -2.75% | +1.61% |
Max Drawdown (3Y)Largest decline over 3 years | -1.14% | -4.02% | +2.88% |
Max Drawdown (5Y)Largest decline over 5 years | -5.21% | -17.03% | +11.82% |
Max Drawdown (10Y)Largest decline over 10 years | -8.31% | — | — |
Current DrawdownCurrent decline from peak | -0.45% | -8.66% | +8.21% |
Average DrawdownAverage peak-to-trough decline | -1.03% | -6.76% | +5.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 0.99% | -0.63% |
Volatility
IBCA.DE vs. EUNA.DE - Volatility Comparison
The current volatility for iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.DE) is 0.64%, while iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (EUNA.DE) has a volatility of 1.35%. This indicates that IBCA.DE experiences smaller price fluctuations and is considered to be less risky than EUNA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBCA.DE | EUNA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 1.35% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 1.27% | 2.82% | -1.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.36% | 3.46% | -2.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.55% | 4.64% | -3.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.81% | 4.27% | -0.46% |
IBCA.DE vs. EUNA.DE - Expense Ratio Comparison
IBCA.DE has a 0.15% expense ratio, which is higher than EUNA.DE's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IBCA.DE vs. EUNA.DE - Dividend Comparison
IBCA.DE's dividend yield for the trailing twelve months is around 2.18%, while EUNA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUNA.DE iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IBCA.DE iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 2.18% | 2.45% | 2.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.04% | 0.29% |
Frequently Asked Questions
IBCA.DE and EUNA.DE have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNA.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNA.DE is cheaper with a 0.10% expense ratio, compared with 0.15% for IBCA.DE.
IBCA.DE is categorized as European Government Bonds, while EUNA.DE is Global Bonds. IBCA.DE tracks Bloomberg Euro Government Bond 1-3, while EUNA.DE tracks Bloomberg Global Aggregate Bond (EUR Hedged). Their fees differ too: 0.15% for IBCA.DE and 0.10% for EUNA.DE.
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