IBCS.DE vs. EUNR.DE
IBCS.DE (iShares Euro Corporate Bond Large Cap UCITS ETF) and EUNR.DE (iShares EUR Corporate Bond ex-Financials UCITS ETF EUR (Dist)) are both European Corporate Bonds funds from iShares - IBCS.DE tracks the iBoxx® EUR Liquid Corporates Large Cap while EUNR.DE tracks the Bloomberg Euro Corporate ex-Financials Bond. Both are passively managed. Over the past 10 years, IBCS.DE returned 0.79%/yr vs 0.82%/yr for EUNR.DE. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.
Performance
IBCS.DE vs. EUNR.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 EUNR.DE's 1.25% return. Both investments have delivered pretty close results over the past 10 years, with IBCS.DE having a 0.79% annualized return and EUNR.DE not far ahead at 0.82%.
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%
EUNR.DE
- 1D
- 0.05%
- 1M
- 0.75%
- YTD
- 1.25%
- 6M
- 1.43%
- 1Y
- 2.33%
- 3Y*
- 4.19%
- 5Y*
- -0.11%
- 10Y*
- 0.82%
IBCS.DE vs. EUNR.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBCS.DE iShares Euro Corporate Bond Large Cap UCITS ETF | 1.40% | 2.83% | 3.66% | 7.36% | -14.02% | -1.42% | 2.71% | 6.17% | -1.32% | 1.59% |
EUNR.DE iShares EUR Corporate Bond ex-Financials UCITS ETF EUR (Dist) | 1.25% | 2.63% | 3.48% | 7.31% | -13.61% | -1.23% | 2.84% | 6.34% | -1.21% | 1.58% |
Correlation
The correlation between IBCS.DE and EUNR.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 (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2009 | 0.84 |
The correlation between IBCS.DE and EUNR.DE has been stable across timeframes, ranging from 0.83 to 0.92 - a consistent structural relationship.
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Return for Risk
IBCS.DE vs. EUNR.DE — Risk / Return Rank
IBCS.DE
EUNR.DE
IBCS.DE vs. EUNR.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 iShares EUR Corporate Bond ex-Financials UCITS ETF EUR (Dist) (EUNR.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 | EUNR.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.14 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | 0.88 | -0.02 |
| Martin ratioReturn relative to average drawdown | 2.92 | 2.87 | +0.05 |
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Drawdowns
IBCS.DE vs. EUNR.DE - Drawdown Comparison
The maximum IBCS.DE drawdown since its inception was -17.87%, roughly equal to the maximum EUNR.DE drawdown of -17.49%. Use the drawdown chart below to compare losses from any high point for IBCS.DE and EUNR.DE.
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Drawdown Indicators
| IBCS.DE | EUNR.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.87% | -17.49% | -0.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.78% | -2.65% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -2.78% | -2.65% | -0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -17.87% | -17.49% | -0.38% |
Max Drawdown (10Y)Largest decline over 10 years | -17.87% | -17.49% | -0.38% |
Current DrawdownCurrent decline from peak | -2.06% | -2.20% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -2.98% | -3.26% | +0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.81% | +0.01% |
Volatility
IBCS.DE vs. EUNR.DE - Volatility Comparison
iShares Euro Corporate Bond Large Cap UCITS ETF (IBCS.DE) has a higher volatility of 0.83% compared to iShares EUR Corporate Bond ex-Financials UCITS ETF EUR (Dist) (EUNR.DE) at 0.70%. This indicates that IBCS.DE's price experiences larger fluctuations and is considered to be riskier than EUNR.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 | EUNR.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 0.70% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 2.94% | 2.71% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.38% | 3.12% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.74% | 4.58% | +0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.47% | 4.54% | -0.07% |
IBCS.DE vs. EUNR.DE - Expense Ratio Comparison
Both IBCS.DE and EUNR.DE have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IBCS.DE vs. EUNR.DE - Dividend Comparison
IBCS.DE's dividend yield for the trailing twelve months is around 3.11%, more than EUNR.DE's 2.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUNR.DE iShares EUR Corporate Bond ex-Financials UCITS ETF EUR (Dist) | 2.80% | 2.65% | 2.25% | 1.50% | 0.90% | 0.81% | 0.88% | 1.25% | 1.35% | 1.42% | 1.84% | 1.03% |
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 EUNR.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.
Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IBCS.DE and EUNR.DE have the same expense ratio: 0.20% per year.
IBCS.DE tracks iBoxx® EUR Liquid Corporates Large Cap, while EUNR.DE tracks Bloomberg Euro Corporate ex-Financials Bond.
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