IBCN.DE vs. ITUB

Last updated Jun 5, 2026

IBCN.DE (iShares Euro Government Bond 3-5yr UCITS ETF) is European Government Bonds fund tracking the Bloomberg Euro Government Bond 5, while ITUB (Itaú Unibanco Holding S.A.) is a stock. Over the past 10 years, IBCN.DE returned 0.17%/yr vs 16.69%/yr for ITUB. At a 0.02 correlation, their price movements are largely independent.

Performance

IBCN.DE vs. ITUB - 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 Itaú Unibanco Holding S.A. (ITUB). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IBCN.DE is traded in EUR, while ITUB is traded in USD. To make them comparable, the ITUB 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 0.05% return, which is significantly lower than ITUB's 8.61% return. Over the past 10 years, IBCN.DE has underperformed ITUB with an annualized return of 0.17%, while ITUB has yielded a comparatively higher 16.69% 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%

ITUB

• 1D: -0.52%
• 1M: -8.97%
• YTD: 8.61%
• 6M: 11.36%
• 1Y: 29.55%
• 3Y*: 22.35%
• 5Y*: 23.49%
• 10Y*: 16.69%

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

IBCN.DE vs. ITUB - 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%
ITUB Itaú Unibanco Holding S.A.	8.61%	63.98%	-18.44%	49.90%	38.93%	0.97%	-36.20%	10.91%	17.97%	14.81%

Correlation

The correlation between IBCN.DE and ITUB is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Aug 29, 2007	0.02

Over the past year, IBCN.DE and ITUB have become more correlated (0.23) than their long-term average of 0.02, meaning their price movements have been converging.

Return for Risk

IBCN.DE vs. ITUB — 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: 11
IBCN.DE Sharpe Ratio Rank: 11
IBCN.DE Sortino Ratio Rank: 10
IBCN.DE Omega Ratio Rank: 10
IBCN.DE Calmar Ratio Rank: 11
IBCN.DE Martin Ratio Rank: 11

ITUB

ITUB Risk / Return Rank: 68
ITUB Sharpe Ratio Rank: 71
ITUB Sortino Ratio Rank: 65
ITUB Omega Ratio Rank: 63
ITUB Calmar Ratio Rank: 69
ITUB Martin Ratio Rank: 72

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. ITUB - 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 Itaú Unibanco Holding S.A. (ITUB). 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	ITUB	Difference
Sharpe ratio: Return per unit of total volatility	0.14	1.02	-0.88
Sortino ratio: Return per unit of downside risk	0.21	1.51	-1.30
Omega ratio: Gain probability vs. loss probability	1.03	1.18	-0.16
Calmar ratio: Return relative to maximum drawdown	0.14	1.64	-1.50
Martin ratio: Return relative to average drawdown	0.40	4.34	-3.93
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. ITUB - Sharpe Ratio Comparison

The current IBCN.DE Sharpe Ratio is 0.14, which is lower than the ITUB Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of IBCN.DE and ITUB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IBCN.DE	ITUB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.14	1.02	-0.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.11	0.72	-0.82
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.06	0.44	-0.38
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.23	+0.23

Drawdowns

IBCN.DE vs. ITUB - Drawdown Comparison

The maximum IBCN.DE drawdown since its inception was -12.52%, smaller than the maximum ITUB drawdown of -62.27%. Use the drawdown chart below to compare losses from any high point for IBCN.DE and ITUB.

Drawdown Indicators

	IBCN.DE	ITUB	Difference
Max Drawdown Largest peak-to-trough decline	-12.52%	-62.27%	+49.75%
Max Drawdown (1Y) Largest decline over 1 year	-2.41%	-18.06%	+15.65%
Max Drawdown (3Y) Largest decline over 3 years	-2.41%	-24.44%	+22.03%
Max Drawdown (5Y) Largest decline over 5 years	-12.15%	-32.66%	+20.51%
Max Drawdown (10Y) Largest decline over 10 years	-12.52%	-60.40%	+47.88%
Current Drawdown Current decline from peak	-2.93%	-18.06%	+15.13%
Average Drawdown Average peak-to-trough decline	-2.32%	-20.44%	+18.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	6.83%	-5.97%

Volatility

IBCN.DE vs. ITUB - Volatility Comparison

The current volatility for iShares Euro Government Bond 3-5yr UCITS ETF (IBCN.DE) is 0.91%, while Itaú Unibanco Holding S.A. (ITUB) has a volatility of 9.14%. This indicates that IBCN.DE experiences smaller price fluctuations and is considered to be less risky than ITUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBCN.DE	ITUB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.91%	9.14%	-8.23%
Volatility (6M) Calculated over the trailing 6-month period	2.24%	23.97%	-21.73%
Volatility (1Y) Calculated over the trailing 1-year period	2.53%	29.17%	-26.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.63%	32.83%	-29.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.96%	37.86%	-34.90%

Dividends

IBCN.DE vs. ITUB - Dividend Comparison

IBCN.DE's dividend yield for the trailing twelve months is around 2.44%, less than ITUB's 8.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
ITUB Itaú Unibanco Holding S.A.	8.46%	11.26%	9.20%	3.61%	4.21%	29.81%	4.80%	8.21%	6.93%	3.35%	15.63%	3.89%

Frequently Asked Questions

Can I hold both IBCN.DE and ITUB in my portfolio?

IBCN.DE and ITUB have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.