IBCS.DE vs. ECMA.DE
IBCS.DE (iShares Euro Corporate Bond Large Cap UCITS ETF) and ECMA.DE (Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc) are both European Corporate Bonds funds - IBCS.DE tracks the iBoxx® EUR Liquid Corporates Large Cap while ECMA.DE tracks the Invesco EUR Corporate Bond ESG Multi-Factor. Both are passively managed. Over the past 3 years, IBCS.DE returned 4.46%/yr vs 4.66%/yr for ECMA.DE. Their correlation of 0.92 suggests significant overlap in exposure. IBCS.DE charges 0.20%/yr vs 0.19%/yr for ECMA.DE.
Performance
IBCS.DE vs. ECMA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBCS.DE achieves a 1.40% return, which is significantly higher than ECMA.DE's 1.12% return.
IBCS.DE
- 1D
- 0.10%
- 1M
- 0.70%
- YTD
- 1.40%
- 6M
- 1.59%
- 1Y
- 2.39%
- 3Y*
- 4.46%
- 5Y*
- -0.10%
- 10Y*
- 0.79%
ECMA.DE
- 1D
- 0.00%
- 1M
- 0.61%
- YTD
- 1.12%
- 6M
- 1.33%
- 1Y
- 2.13%
- 3Y*
- 4.66%
- 5Y*
- —
- 10Y*
- —
IBCS.DE vs. ECMA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IBCS.DE iShares Euro Corporate Bond Large Cap UCITS ETF | 1.40% | 2.83% | 3.66% | 7.36% | -0.47% |
ECMA.DE Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc | 1.12% | 2.90% | 4.30% | 7.06% | -0.85% |
Correlation
The correlation between IBCS.DE and ECMA.DE is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2022 | 0.92 |
The correlation between IBCS.DE and ECMA.DE has been stable across timeframes, ranging from 0.84 to 0.92 - a consistent structural relationship.
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Return for Risk
IBCS.DE vs. ECMA.DE — Risk / Return Rank
IBCS.DE
ECMA.DE
IBCS.DE vs. ECMA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Corporate Bond Large Cap UCITS ETF (IBCS.DE) and Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc (ECMA.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.
| IBCS.DE | ECMA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.14 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | 0.80 | +0.06 |
| Martin ratioReturn relative to average drawdown | 2.92 | 2.63 | +0.29 |
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Drawdowns
IBCS.DE vs. ECMA.DE - Drawdown Comparison
The maximum IBCS.DE drawdown since its inception was -17.87%, which is greater than ECMA.DE's maximum drawdown of -8.91%. Use the drawdown chart below to compare losses from any high point for IBCS.DE and ECMA.DE.
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Drawdown Indicators
| IBCS.DE | ECMA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.87% | -8.91% | -8.96% |
Max Drawdown (1Y)Largest decline over 1 year | -2.78% | -2.68% | -0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -2.78% | -2.68% | -0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -17.87% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -17.87% | — | — |
Current DrawdownCurrent decline from peak | -2.06% | -0.15% | -1.91% |
Average DrawdownAverage peak-to-trough decline | -2.98% | -2.08% | -0.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.81% | +0.01% |
Volatility
IBCS.DE vs. ECMA.DE - Volatility Comparison
iShares Euro Corporate Bond Large Cap UCITS ETF (IBCS.DE) has a higher volatility of 0.83% compared to Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc (ECMA.DE) at 0.78%. This indicates that IBCS.DE's price experiences larger fluctuations and is considered to be riskier than ECMA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBCS.DE | ECMA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 0.78% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.94% | 2.77% | +0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.38% | 3.11% | +0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.74% | 4.16% | +0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.47% | 4.16% | +0.31% |
IBCS.DE vs. ECMA.DE - Expense Ratio Comparison
IBCS.DE has a 0.20% expense ratio, which is higher than ECMA.DE's 0.19% 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
IBCS.DE vs. ECMA.DE - Dividend Comparison
IBCS.DE's dividend yield for the trailing twelve months is around 3.11%, while ECMA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ECMA.DE Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IBCS.DE iShares Euro Corporate Bond Large Cap UCITS ETF | 3.11% | 3.03% | 2.74% | 2.31% | 1.05% | 0.73% | 0.85% | 0.99% | 1.10% | 1.09% | 1.27% | 1.57% |
Frequently Asked Questions
IBCS.DE and ECMA.DE have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ECMA.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ECMA.DE is cheaper with a 0.19% expense ratio, compared with 0.20% for IBCS.DE.
IBCS.DE tracks iBoxx® EUR Liquid Corporates Large Cap, while ECMA.DE tracks Invesco EUR Corporate Bond ESG Multi-Factor. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.20% for IBCS.DE and 0.19% for ECMA.DE.
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