IBCM.DE vs. SGOV
IBCM.DE (iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist)) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - IBCM.DE is a European Government Bonds fund tracking the Bloomberg Euro Government Bond 10, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. Over the past 5 years, IBCM.DE returned -2.34%/yr vs 4.51%/yr for SGOV. At a correlation of -0.05, they often move in opposite directions. IBCM.DE charges 0.15%/yr vs 0.09%/yr for SGOV.
Performance
IBCM.DE vs. SGOV - Performance Comparison
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Different Trading Currencies
IBCM.DE is traded in EUR, while SGOV is traded in USD. To make them comparable, the SGOV values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IBCM.DE achieves a 0.27% return, which is significantly lower than SGOV's 2.72% return.
IBCM.DE
- 1D
- 0.06%
- 1M
- 0.50%
- YTD
- 0.27%
- 6M
- -0.09%
- 1Y
- 0.13%
- 3Y*
- 2.61%
- 5Y*
- -2.34%
- 10Y*
- -0.17%
SGOV
- 1D
- 0.00%
- 1M
- 1.01%
- YTD
- 2.72%
- 6M
- 2.11%
- 1Y
- 2.25%
- 3Y*
- 1.95%
- 5Y*
- 4.51%
- 10Y*
- —
IBCM.DE vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IBCM.DE iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | 0.27% | 1.53% | 0.84% | 8.74% | -19.91% | -3.09% | 3.37% |
SGOV iShares 0-3 Month Treasury Bond ETF | 2.67% | -8.13% | 12.22% | 1.97% | 7.88% | 7.52% | -9.25% |
Correlation
The correlation between IBCM.DE and SGOV is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since May 29, 2020 | -0.05 |
Over the past year, the inverse relationship between IBCM.DE and SGOV has strengthened: their correlation has moved from -0.05 to -0.28, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
IBCM.DE vs. SGOV — Risk / Return Rank
IBCM.DE
SGOV
IBCM.DE vs. SGOV - 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 iShares 0-3 Month Treasury Bond ETF (SGOV). 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.
| IBCM.DE | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.07 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.03 | 0.59 | -0.56 |
| Martin ratioReturn relative to average drawdown | 0.08 | 1.34 | -1.26 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBCM.DE | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.03 | 0.36 | -0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.31 | 0.59 | -0.90 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.03 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.29 | +0.30 |
Drawdowns
IBCM.DE vs. SGOV - Drawdown Comparison
The maximum IBCM.DE drawdown since its inception was -23.25%, which is greater than SGOV's maximum drawdown of -11.59%. Use the drawdown chart below to compare losses from any high point for IBCM.DE and SGOV.
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Drawdown Indicators
| IBCM.DE | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.25% | -11.59% | -11.66% |
Max Drawdown (1Y)Largest decline over 1 year | -4.08% | -3.84% | -0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -4.53% | -11.53% | +7.00% |
Max Drawdown (5Y)Largest decline over 5 years | -22.90% | -11.59% | -11.31% |
Max Drawdown (10Y)Largest decline over 10 years | -23.25% | — | — |
Current DrawdownCurrent decline from peak | -13.71% | -6.77% | -6.94% |
Average DrawdownAverage peak-to-trough decline | -5.23% | -5.75% | +0.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.53% | 1.68% | -0.15% |
Volatility
IBCM.DE vs. SGOV - Volatility Comparison
iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBCM.DE) has a higher volatility of 1.94% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 1.26%. This indicates that IBCM.DE's price experiences larger fluctuations and is considered to be riskier than SGOV 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 | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.94% | 1.26% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 4.20% | 4.33% | -0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.00% | 6.29% | -1.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.39% | 7.70% | -0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.03% | 7.47% | -1.44% |
IBCM.DE vs. SGOV - Expense Ratio Comparison
IBCM.DE has a 0.15% expense ratio, which is higher than SGOV's 0.09% 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. SGOV - Dividend Comparison
IBCM.DE's dividend yield for the trailing twelve months is around 2.92%, less than SGOV's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBCM.DE iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | 2.92% | 2.82% | 2.73% | 1.97% | 0.13% | 0.00% | 0.09% | 0.63% | 0.75% | 0.76% | 0.80% | 1.09% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.86% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBCM.DE and SGOV have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGOV is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.15% for IBCM.DE.
IBCM.DE is categorized as European Government Bonds, while SGOV is Ultrashort Bond. IBCM.DE tracks Bloomberg Euro Government Bond 10, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. Their fees differ too: 0.15% for IBCM.DE and 0.09% for SGOV.
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