IBCL.DE vs. XCS2.DE
IBCL.DE (iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist)) and XCS2.DE (Xtrackers II Australia Government Bond UCITS ETF (Acc)) are both Government Bonds funds - IBCL.DE tracks the Bloomberg Euro Government Bond 15-30 Year Index while XCS2.DE tracks the FTSE Australian Government Bond Index. Both are passively managed. Over the past 10 years, IBCL.DE returned -2.57%/yr vs -0.09%/yr for XCS2.DE. At a 0.29 correlation, their price movements are largely independent. IBCL.DE charges 0.15%/yr vs 0.25%/yr for XCS2.DE.
Performance
IBCL.DE vs. XCS2.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 lower than XCS2.DE's 8.74% return. Over the past 10 years, IBCL.DE has underperformed XCS2.DE with an annualized return of -2.57%, while XCS2.DE has yielded a comparatively higher -0.09% annualized 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%
XCS2.DE
- 1D
- 0.64%
- 1M
- 0.17%
- 6M
- 8.57%
- YTD
- 8.74%
- 1Y
- 9.20%
- 3Y*
- 2.45%
- 5Y*
- -1.91%
- 10Y*
- -0.09%
IBCL.DE vs. XCS2.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% | -1.49% |
XCS2.DE Xtrackers II Australia Government Bond UCITS ETF (Acc) | 8.74% | -2.17% | -1.70% | 0.78% | -13.88% | -0.26% | 4.13% | 9.65% | -0.82% | -2.48% |
Correlation
The correlation between IBCL.DE and XCS2.DE is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since May 19, 2010 | 0.29 |
The correlation between IBCL.DE and XCS2.DE shifts across timeframes, from 0.29 (all time) to 0.53 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBCL.DE vs. XCS2.DE — Risk / Return Rank
IBCL.DE
XCS2.DE
IBCL.DE vs. XCS2.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 Australia Government Bond UCITS ETF (Acc) (XCS2.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 | XCS2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.23 | ||
| Sortino ratioReturn per unit of downside risk | -1.76 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.19 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 2.01 | -2.29 |
| Martin ratioReturn relative to average drawdown | -0.58 | 6.68 | -7.26 |
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Drawdowns
IBCL.DE vs. XCS2.DE - Drawdown Comparison
The maximum IBCL.DE drawdown since its inception was -43.80%, which is greater than XCS2.DE's maximum drawdown of -41.58%. Use the drawdown chart below to compare losses from any high point for IBCL.DE and XCS2.DE.
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Drawdown Indicators
| IBCL.DE | XCS2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.80% | -41.58% | -2.22% |
Max Drawdown (1Y)Largest decline over 1 year | -6.13% | -4.56% | -1.57% |
Max Drawdown (3Y)Largest decline over 3 years | -11.97% | -12.00% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -42.19% | -22.36% | -19.83% |
Max Drawdown (10Y)Largest decline over 10 years | -43.80% | -41.58% | -2.22% |
Current DrawdownCurrent decline from peak | -36.74% | -32.78% | -3.96% |
Average DrawdownAverage peak-to-trough decline | -12.51% | -25.75% | +13.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.93% | 1.37% | +1.56% |
Volatility
IBCL.DE vs. XCS2.DE - Volatility Comparison
iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) (IBCL.DE) and Xtrackers II Australia Government Bond UCITS ETF (Acc) (XCS2.DE) have volatilities of 2.18% and 2.20%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBCL.DE | XCS2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.18% | 2.20% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 7.15% | 7.40% | -0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.15% | 8.80% | +0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.67% | 10.13% | +3.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.50% | 21.02% | -9.52% |
IBCL.DE vs. XCS2.DE - Expense Ratio Comparison
IBCL.DE has a 0.15% expense ratio, which is lower than XCS2.DE's 0.25% 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
IBCL.DE vs. XCS2.DE - Dividend Comparison
IBCL.DE's dividend yield for the trailing twelve months is around 3.63%, while XCS2.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) | 3.63% | 3.53% | 3.19% | 2.64% | 1.31% | 0.53% | 0.74% | 1.26% | 1.50% | 1.35% | 1.47% | 1.83% |
XCS2.DE Xtrackers II Australia Government Bond 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 XCS2.DE have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBCL.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBCL.DE is cheaper with a 0.15% expense ratio, compared with 0.25% for XCS2.DE.
IBCL.DE tracks Bloomberg Euro Government Bond 15-30 Year Index, while XCS2.DE tracks FTSE Australian Government Bond Index. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.15% for IBCL.DE and 0.25% for XCS2.DE.
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