IBCL.DE vs. EUNA.DE
IBCL.DE (iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist)) and EUNA.DE (iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc) are both exchange-traded funds - IBCL.DE is a Government Bonds fund tracking the Bloomberg Euro Government Bond 15-30 Year Index, 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, IBCL.DE returned -7.37%/yr vs -1.36%/yr for EUNA.DE. A 0.71 correlation means they provide meaningful diversification when combined. IBCL.DE charges 0.15%/yr vs 0.10%/yr for EUNA.DE.
Performance
IBCL.DE vs. EUNA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBCL.DE achieves a 1.09% return, which is significantly higher than EUNA.DE's -0.40% return.
IBCL.DE
- 1D
- -0.28%
- 1M
- 1.11%
- 6M
- 1.89%
- YTD
- 1.09%
- 1Y
- -1.73%
- 3Y*
- 0.28%
- 5Y*
- -7.37%
- 10Y*
- -2.57%
EUNA.DE
- 1D
- -0.20%
- 1M
- 0.41%
- 6M
- 0.20%
- YTD
- -0.40%
- 1Y
- 0.82%
- 3Y*
- 2.34%
- 5Y*
- -1.36%
- 10Y*
- —
IBCL.DE vs. EUNA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBCL.DE iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) | 1.09% | -5.38% | -0.90% | 9.73% | -34.35% | -6.57% | 11.60% | 15.55% | 3.25% | -1.33% |
EUNA.DE iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc | -0.40% | 2.91% | 1.48% | 4.41% | -13.52% | -2.42% | 3.86% | 5.07% | -1.20% | -0.20% |
Correlation
The correlation between IBCL.DE and EUNA.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 | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Nov 21, 2017 | 0.71 |
The correlation between IBCL.DE and EUNA.DE has been stable across timeframes, ranging from 0.71 to 0.76 - a consistent structural relationship.
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Return for Risk
IBCL.DE vs. EUNA.DE — Risk / Return Rank
IBCL.DE
EUNA.DE
IBCL.DE vs. EUNA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) (IBCL.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.
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.
| IBCL.DE | EUNA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.54 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.04 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 0.29 | -0.57 |
| Martin ratioReturn relative to average drawdown | -0.58 | 0.78 | -1.36 |
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Drawdowns
IBCL.DE vs. EUNA.DE - Drawdown Comparison
The maximum IBCL.DE drawdown since its inception was -43.80%, which is greater than EUNA.DE's maximum drawdown of -17.81%. Use the drawdown chart below to compare losses from any high point for IBCL.DE and EUNA.DE.
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Drawdown Indicators
| IBCL.DE | EUNA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.80% | -17.81% | -25.99% |
Max Drawdown (1Y)Largest decline over 1 year | -6.13% | -2.80% | -3.33% |
Max Drawdown (3Y)Largest decline over 3 years | -11.97% | -4.11% | -7.86% |
Max Drawdown (5Y)Largest decline over 5 years | -42.19% | -17.04% | -25.15% |
Max Drawdown (10Y)Largest decline over 10 years | -43.80% | — | — |
Current DrawdownCurrent decline from peak | -36.74% | -8.53% | -28.21% |
Average DrawdownAverage peak-to-trough decline | -12.51% | -6.71% | -5.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.93% | 1.05% | +1.88% |
Volatility
IBCL.DE vs. EUNA.DE - Volatility Comparison
iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) (IBCL.DE) has a higher volatility of 2.18% compared to iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (EUNA.DE) at 0.86%. This indicates that IBCL.DE's price experiences larger fluctuations and is considered to be riskier 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
| IBCL.DE | EUNA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.18% | 0.86% | +1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 7.15% | 2.83% | +4.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.15% | 3.73% | +5.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.67% | 4.84% | +8.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.50% | 4.44% | +7.06% |
IBCL.DE vs. EUNA.DE - Expense Ratio Comparison
IBCL.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
IBCL.DE vs. EUNA.DE - Dividend Comparison
IBCL.DE's dividend yield for the trailing twelve months is around 3.63%, 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% |
IBCL.DE iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) | 3.63% | 3.53% | 3.19% | 2.64% | 1.31% | 0.53% | 0.74% | 1.26% | 1.50% | 1.35% | 1.47% | 1.83% |
Frequently Asked Questions
IBCL.DE and EUNA.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, 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 IBCL.DE.
IBCL.DE is categorized as Government Bonds, while EUNA.DE is Global Bonds. IBCL.DE tracks Bloomberg Euro Government Bond 15-30 Year Index, while EUNA.DE tracks Bloomberg Global Aggregate Bond (EUR Hedged). Their fees differ too: 0.15% for IBCL.DE and 0.10% for EUNA.DE.
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