IBCA.DE vs. VGEA.DE
IBCA.DE (iShares Euro Government Bond 1-3yr UCITS ETF (Dist)) and VGEA.DE (Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating) are both European Government Bonds funds - IBCA.DE tracks the Bloomberg Euro Government Bond 1-3 while VGEA.DE tracks the Bloomberg Euro Aggregate Treasury. Both are passively managed. Over the past 5 years, IBCA.DE returned 0.81%/yr vs -2.24%/yr for VGEA.DE. A 0.73 correlation means they provide meaningful diversification when combined. IBCA.DE charges 0.15%/yr vs 0.07%/yr for VGEA.DE.
Performance
IBCA.DE vs. VGEA.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 VGEA.DE's 0.11% 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%
VGEA.DE
- 1D
- 0.06%
- 1M
- -0.02%
- YTD
- 0.11%
- 6M
- 0.18%
- 1Y
- 0.33%
- 3Y*
- 2.38%
- 5Y*
- -2.24%
- 10Y*
- —
IBCA.DE vs. VGEA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% | 0.20% |
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | 0.11% | 0.67% | 1.54% | 6.93% | -18.30% | -3.32% | 4.81% | 5.94% |
Correlation
The correlation between IBCA.DE and VGEA.DE is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2019 | 0.73 |
The correlation between IBCA.DE and VGEA.DE shifts across timeframes, from 0.72 (1 year) to 0.82 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBCA.DE vs. VGEA.DE — Risk / Return Rank
IBCA.DE
VGEA.DE
IBCA.DE vs. VGEA.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 Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.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 | VGEA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.72 | ||
| Sortino ratioReturn per unit of downside risk | +1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.00 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | -0.01 | +0.86 |
| Martin ratioReturn relative to average drawdown | 2.70 | -0.04 | +2.74 |
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 | VGEA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.71 | -0.01 | +0.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | -0.35 | +0.87 |
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 | -0.10 | +0.34 |
Drawdowns
IBCA.DE vs. VGEA.DE - Drawdown Comparison
The maximum IBCA.DE drawdown since its inception was -8.31%, smaller than the maximum VGEA.DE drawdown of -22.34%. Use the drawdown chart below to compare losses from any high point for IBCA.DE and VGEA.DE.
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Drawdown Indicators
| IBCA.DE | VGEA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.31% | -22.34% | +14.03% |
Max Drawdown (1Y)Largest decline over 1 year | -1.14% | -3.44% | +2.30% |
Max Drawdown (3Y)Largest decline over 3 years | -1.14% | -4.00% | +2.86% |
Max Drawdown (5Y)Largest decline over 5 years | -5.21% | -21.47% | +16.26% |
Max Drawdown (10Y)Largest decline over 10 years | -8.31% | — | — |
Current DrawdownCurrent decline from peak | -0.45% | -13.91% | +13.46% |
Average DrawdownAverage peak-to-trough decline | -1.03% | -10.30% | +9.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 1.33% | -0.97% |
Volatility
IBCA.DE vs. VGEA.DE - Volatility Comparison
The current volatility for iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.DE) is 0.64%, while Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE) has a volatility of 1.67%. This indicates that IBCA.DE experiences smaller price fluctuations and is considered to be less risky than VGEA.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 | VGEA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 1.67% | -1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.27% | 3.62% | -2.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.36% | 4.33% | -2.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.55% | 6.39% | -4.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.81% | 5.86% | -2.05% |
IBCA.DE vs. VGEA.DE - Expense Ratio Comparison
IBCA.DE has a 0.15% expense ratio, which is higher than VGEA.DE's 0.07% 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. VGEA.DE - Dividend Comparison
IBCA.DE's dividend yield for the trailing twelve months is around 2.18%, while VGEA.DE has not paid dividends to shareholders.
| 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% |
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBCA.DE and VGEA.DE have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGEA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEA.DE is cheaper with a 0.07% expense ratio, compared with 0.15% for IBCA.DE.
IBCA.DE tracks Bloomberg Euro Government Bond 1-3, while VGEA.DE tracks Bloomberg Euro Aggregate Treasury. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for IBCA.DE and 0.07% for VGEA.DE.
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