IBCM.DE vs. SYBG.DE
IBCM.DE (iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist)) and SYBG.DE (SPDR Bloomberg UK Gilt UCITS ETF) are both European Government Bonds funds - IBCM.DE tracks the Bloomberg Euro Government Bond 10 while SYBG.DE tracks the Bloomberg UK Gilt. Both are passively managed. Over the past 10 years, IBCM.DE returned -0.11%/yr vs -1.64%/yr for SYBG.DE. A 0.53 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.
Performance
IBCM.DE vs. SYBG.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IBCM.DE having a 1.66% return and SYBG.DE slightly higher at 1.73%. Over the past 10 years, IBCM.DE has outperformed SYBG.DE with an annualized return of -0.11%, while SYBG.DE has yielded a comparatively lower -1.64% annualized return.
IBCM.DE
- 1D
- 0.10%
- 1M
- 1.10%
- YTD
- 1.66%
- 6M
- 1.58%
- 1Y
- 1.66%
- 3Y*
- 2.84%
- 5Y*
- -2.01%
- 10Y*
- -0.11%
SYBG.DE
- 1D
- 0.06%
- 1M
- 2.08%
- YTD
- 1.73%
- 6M
- 2.20%
- 1Y
- 1.77%
- 3Y*
- 2.55%
- 5Y*
- -4.68%
- 10Y*
- -1.64%
IBCM.DE vs. SYBG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBCM.DE iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | 1.66% | 1.53% | 0.84% | 8.74% | -19.91% | -3.09% | 4.08% | 6.64% | 1.32% | 0.88% |
SYBG.DE SPDR Bloomberg UK Gilt UCITS ETF | 1.73% | 0.15% | 0.07% | 5.36% | -28.98% | 2.15% | 2.00% | 11.90% | 0.08% | -1.95% |
Correlation
The correlation between IBCM.DE and SYBG.DE is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since May 17, 2012 | 0.53 |
The correlation between IBCM.DE and SYBG.DE shifts across timeframes, from 0.53 (all time) to 0.72 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBCM.DE vs. SYBG.DE — Risk / Return Rank
IBCM.DE
SYBG.DE
IBCM.DE vs. SYBG.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 SPDR Bloomberg UK Gilt UCITS ETF (SYBG.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 | SYBG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.04 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 0.33 | +0.08 |
| Martin ratioReturn relative to average drawdown | 1.03 | 0.77 | +0.27 |
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Drawdowns
IBCM.DE vs. SYBG.DE - Drawdown Comparison
The maximum IBCM.DE drawdown since its inception was -23.25%, smaller than the maximum SYBG.DE drawdown of -36.66%. Use the drawdown chart below to compare losses from any high point for IBCM.DE and SYBG.DE.
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Drawdown Indicators
| IBCM.DE | SYBG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.25% | -36.66% | +13.41% |
Max Drawdown (1Y)Largest decline over 1 year | -4.09% | -5.42% | +1.33% |
Max Drawdown (3Y)Largest decline over 3 years | -4.52% | -8.78% | +4.26% |
Max Drawdown (5Y)Largest decline over 5 years | -22.90% | -36.25% | +13.35% |
Max Drawdown (10Y)Largest decline over 10 years | -23.25% | -36.66% | +13.41% |
Current DrawdownCurrent decline from peak | -12.52% | -26.43% | +13.91% |
Average DrawdownAverage peak-to-trough decline | -5.16% | -13.42% | +8.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 2.08% | -0.48% |
Volatility
IBCM.DE vs. SYBG.DE - Volatility Comparison
The current volatility for iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBCM.DE) is 1.21%, while SPDR Bloomberg UK Gilt UCITS ETF (SYBG.DE) has a volatility of 1.73%. This indicates that IBCM.DE experiences smaller price fluctuations and is considered to be less risky than SYBG.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 | SYBG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 1.73% | -0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 4.21% | 6.10% | -1.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.01% | 8.13% | -3.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.39% | 11.76% | -4.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.03% | 13.84% | -7.81% |
IBCM.DE vs. SYBG.DE - Expense Ratio Comparison
Both IBCM.DE and SYBG.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
IBCM.DE vs. SYBG.DE - Dividend Comparison
IBCM.DE's dividend yield for the trailing twelve months is around 2.88%, less than SYBG.DE's 3.73% 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) | 2.88% | 2.82% | 2.73% | 1.97% | 0.13% | 0.00% | 0.09% | 0.63% | 0.75% | 0.76% | 0.80% | 1.09% |
SYBG.DE SPDR Bloomberg UK Gilt UCITS ETF | 3.73% | 3.64% | 2.65% | 1.69% | 1.22% | 0.82% | 1.11% | 1.14% | 1.27% | 1.60% | 1.77% | 1.89% |
Frequently Asked Questions
IBCM.DE and SYBG.DE have a correlation of 0.66, 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.
IBCM.DE and SYBG.DE have the same expense ratio: 0.15% per year.
IBCM.DE tracks Bloomberg Euro Government Bond 10, while SYBG.DE tracks Bloomberg UK Gilt. They also come from different issuers: iShares and State Street.
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