IBCN.DE vs. IEI

Last updated Apr 3, 2026

Compare and contrast key facts about iShares Euro Government Bond 3-5yr UCITS ETF (IBCN.DE) and iShares 3-7 Year Treasury Bond ETF (IEI).

IBCN.DE and IEI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IBCN.DE is a passively managed fund by iShares that tracks the performance of the Bloomberg Euro Government Bond 5. It was launched on Dec 8, 2006. IEI is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. 3-7 Year Treasury Bond Index. It was launched on Jan 11, 2007. Both IBCN.DE and IEI are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IBCN.DE vs. IEI - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Euro Government Bond 3-5yr UCITS ETF (IBCN.DE) and iShares 3-7 Year Treasury Bond ETF (IEI). The values are adjusted to include any dividend payments, if applicable.

IBCN.DE vs. IEI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IBCN.DE iShares Euro Government Bond 3-5yr UCITS ETF	-0.41%	2.24%	2.15%	5.23%	-10.13%	-1.37%	1.01%	1.69%	0.69%	0.45%
IEI iShares 3-7 Year Treasury Bond ETF	1.81%	-5.73%	8.54%	1.29%	-3.90%	4.75%	-1.87%	8.09%	6.12%	-11.22%

Different Trading Currencies

IBCN.DE is traded in EUR, while IEI is traded in USD. To make them comparable, the IEI values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IBCN.DE achieves a -0.41% return, which is significantly lower than IEI's 1.81% return. Over the past 10 years, IBCN.DE has underperformed IEI with an annualized return of 0.14%, while IEI has yielded a comparatively higher 1.22% annualized return.

IBCN.DE

• 1D: 0.11%
• 1M: -1.18%
• YTD: -0.41%
• 6M: -0.33%
• 1Y: 1.21%
• 3Y*: 2.50%
• 5Y*: -0.54%
• 10Y*: 0.14%

IEI

• 1D: 0.58%
• 1M: -0.33%
• YTD: 1.81%
• 6M: 2.36%
• 1Y: -2.40%
• 3Y*: 1.40%
• 5Y*: 0.89%
• 10Y*: 1.22%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBCN.DE vs. IEI - Expense Ratio Comparison

Both IBCN.DE and IEI 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%.

IBCN.DE

iShares Euro Government Bond 3-5yr UCITS ETF

IEI

iShares 3-7 Year Treasury Bond ETF

Return for Risk

IBCN.DE vs. IEI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IBCN.DE

IBCN.DE Risk / Return Rank: 22
IBCN.DE Sharpe Ratio Rank: 28
IBCN.DE Sortino Ratio Rank: 23
IBCN.DE Omega Ratio Rank: 23
IBCN.DE Calmar Ratio Rank: 16
IBCN.DE Martin Ratio Rank: 19

IEI

IEI Risk / Return Rank: 57
IEI Sharpe Ratio Rank: 62
IEI Sortino Ratio Rank: 65
IEI Omega Ratio Rank: 52
IEI Calmar Ratio Rank: 59
IEI Martin Ratio Rank: 49

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBCN.DE vs. IEI - 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 3-7 Year Treasury Bond ETF (IEI). 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	IEI	Difference
Sharpe ratio Return per unit of total volatility	0.55	-0.33	+0.87
Sortino ratio Return per unit of downside risk	0.74	-0.39	+1.12
Omega ratio Gain probability vs. loss probability	1.10	0.95	+0.15
Calmar ratio Return relative to maximum drawdown	0.35	-0.41	+0.75
Martin ratio Return relative to average drawdown	1.44	-0.65	+2.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBCN.DE vs. IEI - Sharpe Ratio Comparison

The current IBCN.DE Sharpe Ratio is 0.55, which is higher than the IEI Sharpe Ratio of -0.33. The chart below compares the historical Sharpe Ratios of IBCN.DE and IEI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IBCN.DE	IEI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.55	-0.33	+0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.15	0.12	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.05	0.16	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.39	+0.06

Correlation

The correlation between IBCN.DE and IEI is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

IBCN.DE vs. IEI - Dividend Comparison

IBCN.DE's dividend yield for the trailing twelve months is around 2.52%, less than IEI's 3.58% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBCN.DE iShares Euro Government Bond 3-5yr UCITS ETF	2.52%	2.51%	2.61%	0.80%	0.00%	0.00%	0.00%	0.07%	0.12%	0.08%	0.13%	0.61%
IEI iShares 3-7 Year Treasury Bond ETF	3.58%	3.48%	3.18%	2.36%	1.37%	0.73%	1.12%	2.01%	1.95%	1.51%	1.33%	1.39%

Drawdowns

IBCN.DE vs. IEI - Drawdown Comparison

The maximum IBCN.DE drawdown since its inception was -12.52%, smaller than the maximum IEI drawdown of -17.29%. Use the drawdown chart below to compare losses from any high point for IBCN.DE and IEI.

Drawdown Indicators

	IBCN.DE	IEI	Difference
Max Drawdown Largest peak-to-trough decline	-12.52%	-14.60%	+2.08%
Max Drawdown (1Y) Largest decline over 1 year	-2.41%	-2.20%	-0.21%
Max Drawdown (5Y) Largest decline over 5 years	-12.15%	-13.88%	+1.73%
Max Drawdown (10Y) Largest decline over 10 years	-12.52%	-14.60%	+2.08%
Current Drawdown Current decline from peak	-3.38%	-1.44%	-1.94%
Average Drawdown Average peak-to-trough decline	-2.32%	-2.68%	+0.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	0.70%	-0.12%

Volatility

IBCN.DE vs. IEI - Volatility Comparison

The current volatility for iShares Euro Government Bond 3-5yr UCITS ETF (IBCN.DE) is 1.19%, while iShares 3-7 Year Treasury Bond ETF (IEI) has a volatility of 2.19%. This indicates that IBCN.DE experiences smaller price fluctuations and is considered to be less risky than IEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBCN.DE	IEI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.19%	2.19%	-1.00%
Volatility (6M) Calculated over the trailing 6-month period	1.54%	4.33%	-2.79%
Volatility (1Y) Calculated over the trailing 1-year period	2.20%	7.41%	-5.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.55%	7.65%	-4.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.91%	7.47%	-4.56%