IBCM.DE vs. H4ZK.DE
IBCM.DE (iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist)) and H4ZK.DE (HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR) are both European Government Bonds funds - IBCM.DE tracks the Bloomberg Euro Government Bond 10 while H4ZK.DE tracks the Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index. Both are passively managed. Over the past year, IBCM.DE returned 0.32% vs 0.79% for H4ZK.DE. At a 0.50 correlation, their price movements are largely independent. IBCM.DE charges 0.15%/yr vs 0.14%/yr for H4ZK.DE.
Performance
IBCM.DE vs. H4ZK.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBCM.DE achieves a -0.18% return, which is significantly lower than H4ZK.DE's 0.20% return.
IBCM.DE
- 1D
- -0.25%
- 1M
- -1.30%
- 6M
- -1.02%
- YTD
- -0.18%
- 1Y
- 0.32%
- 3Y*
- 2.62%
- 5Y*
- -2.68%
- 10Y*
- -0.38%
H4ZK.DE
- 1D
- 0.10%
- 1M
- -0.10%
- 6M
- 0.00%
- YTD
- 0.20%
- 1Y
- 0.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBCM.DE vs. H4ZK.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IBCM.DE iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | -0.18% | 2.19% |
H4ZK.DE HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR | 0.20% | 2.30% |
Correlation
The correlation between IBCM.DE and H4ZK.DE is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025 | 0.50 |
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Return for Risk
IBCM.DE vs. H4ZK.DE — Risk / Return Rank
IBCM.DE
H4ZK.DE
IBCM.DE vs. H4ZK.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBCM.DE) and HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR (H4ZK.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.
| IBCM.DE | H4ZK.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.13 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.08 | 0.62 | -0.54 |
| Martin ratioReturn relative to average drawdown | 0.19 | 2.06 | -1.87 |
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Drawdowns
IBCM.DE vs. H4ZK.DE - Drawdown Comparison
The maximum IBCM.DE drawdown since its inception was -23.25%, which is greater than H4ZK.DE's maximum drawdown of -1.26%. Use the drawdown chart below to compare losses from any high point for IBCM.DE and H4ZK.DE.
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Drawdown Indicators
| IBCM.DE | H4ZK.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.25% | -1.26% | -21.99% |
Max Drawdown (1Y)Largest decline over 1 year | -4.09% | -1.26% | -2.83% |
Max Drawdown (3Y)Largest decline over 3 years | -4.52% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -22.90% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -23.25% | — | — |
Current DrawdownCurrent decline from peak | -14.10% | -0.29% | -13.81% |
Average DrawdownAverage peak-to-trough decline | -5.23% | -0.19% | -5.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 0.38% | +1.29% |
Volatility
IBCM.DE vs. H4ZK.DE - Volatility Comparison
iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBCM.DE) has a higher volatility of 1.30% compared to HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR (H4ZK.DE) at 0.41%. This indicates that IBCM.DE's price experiences larger fluctuations and is considered to be riskier than H4ZK.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBCM.DE | H4ZK.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.30% | 0.41% | +0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 4.26% | 1.23% | +3.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.07% | 1.38% | +3.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.40% | 1.40% | +6.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.03% | 1.40% | +4.63% |
IBCM.DE vs. H4ZK.DE - Expense Ratio Comparison
IBCM.DE has a 0.15% expense ratio, which is higher than H4ZK.DE's 0.14% 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
IBCM.DE vs. H4ZK.DE - Dividend Comparison
IBCM.DE's dividend yield for the trailing twelve months is around 2.93%, while H4ZK.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
H4ZK.DE HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IBCM.DE iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | 2.93% | 2.82% | 2.73% | 1.97% | 0.13% | 0.00% | 0.09% | 0.63% | 0.75% | 0.76% | 0.80% | 1.09% |
Frequently Asked Questions
IBCM.DE and H4ZK.DE have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZK.DE is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZK.DE is cheaper with a 0.14% expense ratio, compared with 0.15% for IBCM.DE.
IBCM.DE tracks Bloomberg Euro Government Bond 10, while H4ZK.DE tracks Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.15% for IBCM.DE and 0.14% for H4ZK.DE.
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