IBCA.DE vs. XZEB.DE
IBCA.DE (iShares Euro Government Bond 1-3yr UCITS ETF (Dist)) and XZEB.DE (Xtrackers II ESG Eurozone Government Bond UCITS ETF) are both European Government Bonds funds - IBCA.DE tracks the Bloomberg Euro Government Bond 1-3 while XZEB.DE tracks the FTSE ESG Select EMU Government Bond. Both are passively managed. Over the past 3 years, IBCA.DE returned 2.71%/yr vs 1.37%/yr for XZEB.DE. Their correlation of 0.81 suggests significant overlap in exposure. Both charge a 0.15% expense ratio.
Performance
IBCA.DE vs. XZEB.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 lower than XZEB.DE's 0.20% 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%
XZEB.DE
- 1D
- 0.07%
- 1M
- 0.46%
- YTD
- 0.20%
- 6M
- 0.05%
- 1Y
- -0.71%
- 3Y*
- 1.37%
- 5Y*
- —
- 10Y*
- —
IBCA.DE vs. XZEB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IBCA.DE iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 0.16% | 2.31% | 3.05% | 3.50% | -2.44% |
XZEB.DE Xtrackers II ESG Eurozone Government Bond UCITS ETF | 0.20% | -0.59% | 0.01% | 5.77% | -7.62% |
Correlation
The correlation between IBCA.DE and XZEB.DE is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2022 | 0.81 |
The correlation between IBCA.DE and XZEB.DE has been stable across timeframes, ranging from 0.73 to 0.81 - a consistent structural relationship.
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Return for Risk
IBCA.DE vs. XZEB.DE — Risk / Return Rank
IBCA.DE
XZEB.DE
IBCA.DE vs. XZEB.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 Xtrackers II ESG Eurozone Government Bond UCITS ETF (XZEB.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 | XZEB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 0.97 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | -0.24 | +1.08 |
| Martin ratioReturn relative to average drawdown | 2.70 | -0.53 | +3.23 |
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 | XZEB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.71 | -0.17 | +0.88 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | — | — |
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 | -0.11 | +0.35 |
Drawdowns
IBCA.DE vs. XZEB.DE - Drawdown Comparison
The maximum IBCA.DE drawdown since its inception was -8.31%, smaller than the maximum XZEB.DE drawdown of -13.98%. Use the drawdown chart below to compare losses from any high point for IBCA.DE and XZEB.DE.
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Drawdown Indicators
| IBCA.DE | XZEB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.31% | -13.98% | +5.67% |
Max Drawdown (1Y)Largest decline over 1 year | -1.14% | -2.97% | +1.83% |
Max Drawdown (3Y)Largest decline over 3 years | -1.14% | -4.45% | +3.31% |
Max Drawdown (5Y)Largest decline over 5 years | -5.21% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -8.31% | — | — |
Current DrawdownCurrent decline from peak | -0.45% | -7.28% | +6.83% |
Average DrawdownAverage peak-to-trough decline | -1.03% | -8.40% | +7.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 1.33% | -0.97% |
Volatility
IBCA.DE vs. XZEB.DE - Volatility Comparison
The current volatility for iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.DE) is 0.64%, while Xtrackers II ESG Eurozone Government Bond UCITS ETF (XZEB.DE) has a volatility of 1.57%. This indicates that IBCA.DE experiences smaller price fluctuations and is considered to be less risky than XZEB.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 | XZEB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 1.57% | -0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 1.27% | 3.45% | -2.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.36% | 4.14% | -2.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.55% | 6.32% | -4.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.81% | 6.32% | -2.51% |
IBCA.DE vs. XZEB.DE - Expense Ratio Comparison
Both IBCA.DE and XZEB.DE have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IBCA.DE vs. XZEB.DE - Dividend Comparison
IBCA.DE's dividend yield for the trailing twelve months is around 2.18%, while XZEB.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% |
XZEB.DE Xtrackers II ESG Eurozone Government Bond UCITS ETF | 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 XZEB.DE have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IBCA.DE and XZEB.DE have the same expense ratio: 0.15% per year.
IBCA.DE tracks Bloomberg Euro Government Bond 1-3, while XZEB.DE tracks FTSE ESG Select EMU Government Bond. They also come from different issuers: iShares and Xtrackers.
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