IBCN.DE vs. EXHB.DE
IBCN.DE (iShares Euro Government Bond 3-5yr UCITS ETF) and EXHB.DE (iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE)) are both European Government Bonds funds from iShares - IBCN.DE tracks the Bloomberg Euro Government Bond 5 while EXHB.DE tracks the eb.rexx® Government Germany 1.5-2.5. Both are passively managed. Over the past 10 years, IBCN.DE returned 0.17%/yr vs -0.27%/yr for EXHB.DE. A 0.52 correlation means they provide meaningful diversification when combined. IBCN.DE charges 0.15%/yr vs 0.16%/yr for EXHB.DE.
Performance
IBCN.DE vs. EXHB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBCN.DE achieves a 0.05% return, which is significantly higher than EXHB.DE's 0.01% return. Over the past 10 years, IBCN.DE has outperformed EXHB.DE with an annualized return of 0.17%, while EXHB.DE has yielded a comparatively lower -0.27% annualized return.
IBCN.DE
- 1D
- 0.06%
- 1M
- 0.01%
- YTD
- 0.05%
- 6M
- -0.06%
- 1Y
- 0.68%
- 3Y*
- 2.68%
- 5Y*
- -0.39%
- 10Y*
- 0.17%
EXHB.DE
- 1D
- 0.06%
- 1M
- 0.01%
- YTD
- 0.01%
- 6M
- 0.02%
- 1Y
- 0.58%
- 3Y*
- 2.11%
- 5Y*
- 0.21%
- 10Y*
- -0.27%
IBCN.DE vs. EXHB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBCN.DE iShares Euro Government Bond 3-5yr UCITS ETF | 0.05% | 2.24% | 2.15% | 5.23% | -10.13% | -1.37% | 1.01% | 1.69% | 0.69% | 0.45% |
EXHB.DE iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) | 0.01% | 1.65% | 2.56% | 2.58% | -5.04% | -0.96% | -0.80% | -0.87% | -0.54% | -1.07% |
Correlation
The correlation between IBCN.DE and EXHB.DE is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Apr 26, 2007 | 0.52 |
Over the past year, IBCN.DE and EXHB.DE have become more correlated (0.75) than their long-term average of 0.52, meaning their price movements have been converging.
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Return for Risk
IBCN.DE vs. EXHB.DE — Risk / Return Rank
IBCN.DE
EXHB.DE
IBCN.DE vs. EXHB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Government Bond 3-5yr UCITS ETF (IBCN.DE) and iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) (EXHB.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.
| IBCN.DE | EXHB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.07 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.14 | 0.36 | -0.22 |
| Martin ratioReturn relative to average drawdown | 0.40 | 1.07 | -0.66 |
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
| IBCN.DE | EXHB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.14 | 0.34 | -0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.11 | 0.12 | -0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.06 | -0.19 | +0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.16 | +0.29 |
Drawdowns
IBCN.DE vs. EXHB.DE - Drawdown Comparison
The maximum IBCN.DE drawdown since its inception was -12.52%, which is greater than EXHB.DE's maximum drawdown of -10.06%. Use the drawdown chart below to compare losses from any high point for IBCN.DE and EXHB.DE.
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Drawdown Indicators
| IBCN.DE | EXHB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.52% | -10.06% | -2.46% |
Max Drawdown (1Y)Largest decline over 1 year | -2.41% | -1.17% | -1.24% |
Max Drawdown (3Y)Largest decline over 3 years | -2.41% | -1.17% | -1.24% |
Max Drawdown (5Y)Largest decline over 5 years | -12.15% | -6.45% | -5.70% |
Max Drawdown (10Y)Largest decline over 10 years | -12.52% | -10.06% | -2.46% |
Current DrawdownCurrent decline from peak | -2.93% | -2.91% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -2.32% | -2.72% | +0.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 0.40% | +0.46% |
Volatility
IBCN.DE vs. EXHB.DE - Volatility Comparison
iShares Euro Government Bond 3-5yr UCITS ETF (IBCN.DE) has a higher volatility of 0.91% compared to iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) (EXHB.DE) at 0.49%. This indicates that IBCN.DE's price experiences larger fluctuations and is considered to be riskier than EXHB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBCN.DE | EXHB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 0.49% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 2.24% | 1.12% | +1.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.53% | 1.25% | +1.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.63% | 1.72% | +1.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.96% | 1.44% | +1.52% |
IBCN.DE vs. EXHB.DE - Expense Ratio Comparison
IBCN.DE has a 0.15% expense ratio, which is lower than EXHB.DE's 0.16% 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
IBCN.DE vs. EXHB.DE - Dividend Comparison
IBCN.DE's dividend yield for the trailing twelve months is around 2.44%, more than EXHB.DE's 1.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXHB.DE iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) | 1.39% | 0.96% | 0.72% | 0.60% | 1.05% | 0.97% | 0.80% | 1.06% | 0.87% | 1.50% | 1.42% | 1.49% |
IBCN.DE iShares Euro Government Bond 3-5yr UCITS ETF | 2.44% | 2.51% | 2.61% | 0.80% | 0.00% | 0.00% | 0.00% | 0.07% | 0.12% | 0.08% | 0.13% | 0.61% |
Frequently Asked Questions
IBCN.DE and EXHB.DE have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBCN.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBCN.DE is cheaper with a 0.15% expense ratio, compared with 0.16% for EXHB.DE.
IBCN.DE tracks Bloomberg Euro Government Bond 5, while EXHB.DE tracks eb.rexx® Government Germany 1.5-2.5. Their fees differ too: 0.15% for IBCN.DE and 0.16% for EXHB.DE.
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