IBCL.DE vs. XBO2.DE
IBCL.DE (iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist)) and XBO2.DE (Xtrackers II Italy Government Bond 0-1 Swap UCITS ETF (Acc)) are both Government Bonds funds - IBCL.DE tracks the Bloomberg Euro Government Bond 15-30 Year Index while XBO2.DE tracks the FTSE Eurozone BOT Index. Both are passively managed. Over the past 10 years, IBCL.DE returned -2.67%/yr vs 0.71%/yr for XBO2.DE. At a 0.16 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.
Performance
IBCL.DE vs. XBO2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBCL.DE achieves a -1.15% return, which is significantly lower than XBO2.DE's 0.65% return. Over the past 10 years, IBCL.DE has underperformed XBO2.DE with an annualized return of -2.67%, while XBO2.DE has yielded a comparatively higher 0.71% annualized return.
IBCL.DE
- 1D
- 0.25%
- 1M
- -2.80%
- 6M
- -2.31%
- YTD
- -1.15%
- 1Y
- -2.15%
- 3Y*
- -0.84%
- 5Y*
- -8.15%
- 10Y*
- -2.67%
XBO2.DE
- 1D
- 0.00%
- 1M
- 0.15%
- 6M
- 0.86%
- YTD
- 0.65%
- 1Y
- 1.73%
- 3Y*
- 2.81%
- 5Y*
- 1.73%
- 10Y*
- 0.71%
IBCL.DE vs. XBO2.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) | -1.15% | -5.38% | -0.90% | 9.73% | -34.35% | -6.57% | 11.60% | 15.55% | 3.25% | -1.49% |
XBO2.DE Xtrackers II Italy Government Bond 0-1 Swap UCITS ETF (Acc) | 0.65% | 2.42% | 3.53% | 3.03% | -0.64% | -0.60% | -0.22% | 0.03% | -0.47% | -0.44% |
Correlation
The correlation between IBCL.DE and XBO2.DE is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2012 | 0.16 |
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Return for Risk
IBCL.DE vs. XBO2.DE — Risk / Return Rank
IBCL.DE
XBO2.DE
IBCL.DE vs. XBO2.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 Xtrackers II Italy Government Bond 0-1 Swap UCITS ETF (Acc) (XBO2.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 | XBO2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.76 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.19 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.35 | 1.54 | -1.89 |
| Martin ratioReturn relative to average drawdown | -0.70 | 4.21 | -4.92 |
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Drawdowns
IBCL.DE vs. XBO2.DE - Drawdown Comparison
The maximum IBCL.DE drawdown since its inception was -43.80%, which is greater than XBO2.DE's maximum drawdown of -3.92%. Use the drawdown chart below to compare losses from any high point for IBCL.DE and XBO2.DE.
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Drawdown Indicators
| IBCL.DE | XBO2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.80% | -3.92% | -39.88% |
Max Drawdown (1Y)Largest decline over 1 year | -6.13% | -1.12% | -5.01% |
Max Drawdown (3Y)Largest decline over 3 years | -11.97% | -1.12% | -10.85% |
Max Drawdown (5Y)Largest decline over 5 years | -42.19% | -1.31% | -40.88% |
Max Drawdown (10Y)Largest decline over 10 years | -43.80% | -3.77% | -40.03% |
Current DrawdownCurrent decline from peak | -38.14% | -0.58% | -37.56% |
Average DrawdownAverage peak-to-trough decline | -12.56% | -0.71% | -11.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.06% | 0.41% | +2.65% |
Volatility
IBCL.DE vs. XBO2.DE - Volatility Comparison
iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) (IBCL.DE) has a higher volatility of 2.55% compared to Xtrackers II Italy Government Bond 0-1 Swap UCITS ETF (Acc) (XBO2.DE) at 1.48%. This indicates that IBCL.DE's price experiences larger fluctuations and is considered to be riskier than XBO2.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 | XBO2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.55% | 1.48% | +1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 7.30% | 2.61% | +4.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.24% | 3.29% | +5.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.68% | 1.53% | +12.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.50% | 1.64% | +9.86% |
IBCL.DE vs. XBO2.DE - Expense Ratio Comparison
Both IBCL.DE and XBO2.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
IBCL.DE vs. XBO2.DE - Dividend Comparison
IBCL.DE's dividend yield for the trailing twelve months is around 3.71%, while XBO2.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBCL.DE iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) | 3.71% | 3.53% | 3.19% | 2.64% | 1.31% | 0.53% | 0.74% | 1.26% | 1.50% | 1.35% | 1.47% | 1.83% |
XBO2.DE Xtrackers II Italy Government Bond 0-1 Swap UCITS ETF (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% |
Frequently Asked Questions
IBCL.DE and XBO2.DE have a correlation of 0.20, 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.
IBCL.DE and XBO2.DE have the same expense ratio: 0.15% per year.
IBCL.DE tracks Bloomberg Euro Government Bond 15-30 Year Index, while XBO2.DE tracks FTSE Eurozone BOT Index. They also come from different issuers: iShares and Xtrackers.
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