IBCA.DE vs. IS0L.DE
IBCA.DE (iShares Euro Government Bond 1-3yr UCITS ETF (Dist)) and IS0L.DE (iShares Germany Government Bond UCITS ETF (Dist)) are both European Government Bonds funds from iShares - IBCA.DE tracks the Bloomberg Euro Government Bond 1-3 while IS0L.DE tracks the Bloomberg Euro Treasury Germany. Both are passively managed. Over the past 10 years, IBCA.DE returned 0.36%/yr vs -1.31%/yr for IS0L.DE. At a 0.44 correlation, their price movements are largely independent. IBCA.DE charges 0.15%/yr vs 0.20%/yr for IS0L.DE.
Performance
IBCA.DE vs. IS0L.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 IS0L.DE's -0.09% return. Over the past 10 years, IBCA.DE has outperformed IS0L.DE with an annualized return of 0.36%, while IS0L.DE has yielded a comparatively lower -1.31% annualized return.
IBCA.DE
- 1D
- 0.06%
- 1M
- 0.09%
- YTD
- 0.16%
- 6M
- 0.30%
- 1Y
- 1.12%
- 3Y*
- 2.71%
- 5Y*
- 0.81%
- 10Y*
- 0.36%
IS0L.DE
- 1D
- 0.09%
- 1M
- -0.08%
- YTD
- -0.09%
- 6M
- -0.26%
- 1Y
- -1.03%
- 3Y*
- 0.83%
- 5Y*
- -3.06%
- 10Y*
- -1.31%
IBCA.DE vs. IS0L.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% | 0.02% |
IS0L.DE iShares Germany Government Bond UCITS ETF (Dist) | -0.09% | -1.50% | 0.13% | 5.16% | -17.86% | -2.55% | 2.69% | 2.82% | 2.31% | -1.63% |
Correlation
The correlation between IBCA.DE and IS0L.DE is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2012 | 0.44 |
Over the past year, IBCA.DE and IS0L.DE have become more correlated (0.69) than their long-term average of 0.44, meaning their price movements have been converging.
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Return for Risk
IBCA.DE vs. IS0L.DE — Risk / Return Rank
IBCA.DE
IS0L.DE
IBCA.DE vs. IS0L.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 Germany Government Bond UCITS ETF (Dist) (IS0L.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 | IS0L.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.11 | ||
| Sortino ratioReturn per unit of downside risk | +1.54 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.94 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | -0.48 | +1.32 |
| Martin ratioReturn relative to average drawdown | 2.70 | -1.02 | +3.72 |
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 | IS0L.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.71 | -0.40 | +1.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | -0.50 | +1.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.09 | -0.25 | +0.34 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | -0.03 | +0.28 |
Drawdowns
IBCA.DE vs. IS0L.DE - Drawdown Comparison
The maximum IBCA.DE drawdown since its inception was -8.31%, smaller than the maximum IS0L.DE drawdown of -23.96%. Use the drawdown chart below to compare losses from any high point for IBCA.DE and IS0L.DE.
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Drawdown Indicators
| IBCA.DE | IS0L.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.31% | -23.96% | +15.65% |
Max Drawdown (1Y)Largest decline over 1 year | -1.14% | -2.93% | +1.79% |
Max Drawdown (3Y)Largest decline over 3 years | -1.14% | -4.96% | +3.82% |
Max Drawdown (5Y)Largest decline over 5 years | -5.21% | -21.24% | +16.03% |
Max Drawdown (10Y)Largest decline over 10 years | -8.31% | -23.96% | +15.65% |
Current DrawdownCurrent decline from peak | -0.45% | -19.49% | +19.04% |
Average DrawdownAverage peak-to-trough decline | -1.03% | -7.79% | +6.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 1.39% | -1.03% |
Volatility
IBCA.DE vs. IS0L.DE - Volatility Comparison
The current volatility for iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.DE) is 0.64%, while iShares Germany Government Bond UCITS ETF (Dist) (IS0L.DE) has a volatility of 1.37%. This indicates that IBCA.DE experiences smaller price fluctuations and is considered to be less risky than IS0L.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 | IS0L.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 1.37% | -0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 1.27% | 2.74% | -1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.36% | 3.54% | -2.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.55% | 6.10% | -4.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.81% | 5.27% | -1.46% |
IBCA.DE vs. IS0L.DE - Expense Ratio Comparison
IBCA.DE has a 0.15% expense ratio, which is lower than IS0L.DE's 0.20% 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
IBCA.DE vs. IS0L.DE - Dividend Comparison
IBCA.DE's dividend yield for the trailing twelve months is around 2.18%, which matches IS0L.DE's 2.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IS0L.DE iShares Germany Government Bond UCITS ETF (Dist) | 2.19% | 2.19% | 2.13% | 0.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.35% |
Frequently Asked Questions
IBCA.DE and IS0L.DE have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBCA.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBCA.DE is cheaper with a 0.15% expense ratio, compared with 0.20% for IS0L.DE.
IBCA.DE tracks Bloomberg Euro Government Bond 1-3, while IS0L.DE tracks Bloomberg Euro Treasury Germany. Their fees differ too: 0.15% for IBCA.DE and 0.20% for IS0L.DE.
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