IBCC.DE vs. XUTE.DE
IBCC.DE (iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist)) and XUTE.DE (Xtrackers II US Treasuries UCITS ETF EUR Hedged (Dist)) are both Government Bonds funds - IBCC.DE tracks the ICE US Treasury Short Bond Index while XUTE.DE tracks the iBoxx USD Treasuries Index (EUR Hedged). Both are passively managed. Over the past 5 years, IBCC.DE returned 4.12%/yr vs -2.68%/yr for XUTE.DE. At a correlation of -0.18, they often move in opposite directions. IBCC.DE charges 0.07%/yr vs 0.10%/yr for XUTE.DE.
Performance
IBCC.DE vs. XUTE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBCC.DE achieves a 4.60% return, which is significantly higher than XUTE.DE's -1.03% return.
IBCC.DE
- 1D
- 0.00%
- 1M
- 1.63%
- 6M
- 3.15%
- YTD
- 4.60%
- 1Y
- 5.10%
- 3Y*
- 4.00%
- 5Y*
- 4.12%
- 10Y*
- —
XUTE.DE
- 1D
- 0.22%
- 1M
- -0.39%
- 6M
- -0.88%
- YTD
- -1.03%
- 1Y
- 1.43%
- 3Y*
- 0.90%
- 5Y*
- -2.68%
- 10Y*
- —
IBCC.DE vs. XUTE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBCC.DE iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.60% | -7.23% | 11.42% | 1.23% | 7.25% | 8.42% | -8.13% | -8.71% |
XUTE.DE Xtrackers II US Treasuries UCITS ETF EUR Hedged (Dist) | -1.03% | 4.18% | -1.19% | 1.61% | -14.67% | -3.37% | 6.64% | 3.53% |
Correlation
The correlation between IBCC.DE and XUTE.DE is -0.39, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.27 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2019 | -0.18 |
Over the past year, the inverse relationship between IBCC.DE and XUTE.DE has strengthened: their correlation has moved from -0.18 to -0.39, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
IBCC.DE vs. XUTE.DE — Risk / Return Rank
IBCC.DE
XUTE.DE
IBCC.DE vs. XUTE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBCC.DE) and Xtrackers II US Treasuries UCITS ETF EUR Hedged (Dist) (XUTE.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.
| IBCC.DE | XUTE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.07 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 0.41 | +1.16 |
| Martin ratioReturn relative to average drawdown | 3.59 | 0.99 | +2.60 |
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Drawdowns
IBCC.DE vs. XUTE.DE - Drawdown Comparison
The maximum IBCC.DE drawdown since its inception was -16.17%, smaller than the maximum XUTE.DE drawdown of -23.77%. Use the drawdown chart below to compare losses from any high point for IBCC.DE and XUTE.DE.
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Drawdown Indicators
| IBCC.DE | XUTE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.17% | -23.77% | +7.60% |
Max Drawdown (1Y)Largest decline over 1 year | -3.24% | -3.49% | +0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -11.59% | -5.77% | -5.82% |
Max Drawdown (5Y)Largest decline over 5 years | -11.69% | -20.57% | +8.88% |
Current DrawdownCurrent decline from peak | -5.33% | -16.92% | +11.59% |
Average DrawdownAverage peak-to-trough decline | -7.97% | -9.88% | +1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.42% | 1.43% | -0.01% |
Volatility
IBCC.DE vs. XUTE.DE - Volatility Comparison
iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBCC.DE) has a higher volatility of 1.36% compared to Xtrackers II US Treasuries UCITS ETF EUR Hedged (Dist) (XUTE.DE) at 1.00%. This indicates that IBCC.DE's price experiences larger fluctuations and is considered to be riskier than XUTE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBCC.DE | XUTE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 1.00% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 4.32% | 2.74% | +1.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.13% | 3.71% | +2.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.57% | 5.70% | +1.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.41% | 5.08% | +3.33% |
IBCC.DE vs. XUTE.DE - Expense Ratio Comparison
IBCC.DE has a 0.07% expense ratio, which is lower than XUTE.DE's 0.10% 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
IBCC.DE vs. XUTE.DE - Dividend Comparison
IBCC.DE's dividend yield for the trailing twelve months is around 3.99%, more than XUTE.DE's 3.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IBCC.DE iShares $ Treasury Bond 0-1yr UCITS ETF USD (Dist) | 3.99% | 4.63% | 6.49% | 4.14% | 0.47% | 0.09% | 1.39% | 1.22% | 0.00% |
XUTE.DE Xtrackers II US Treasuries UCITS ETF EUR Hedged (Dist) | 3.40% | 3.36% | 3.56% | 2.27% | 2.15% | 3.30% | 1.87% | 1.28% | 0.85% |
Frequently Asked Questions
IBCC.DE and XUTE.DE have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBCC.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBCC.DE is cheaper with a 0.07% expense ratio, compared with 0.10% for XUTE.DE.
IBCC.DE tracks ICE US Treasury Short Bond Index, while XUTE.DE tracks iBoxx USD Treasuries Index (EUR Hedged). They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.07% for IBCC.DE and 0.10% for XUTE.DE.
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