IBCS.DE vs. IEXA.DE
IBCS.DE (iShares Euro Corporate Bond Large Cap UCITS ETF) and IEXA.DE (iShares EUR Corporate Bond ex-Financials UCITS ETF EUR Acc) are both European Corporate Bonds funds from iShares - IBCS.DE tracks the iBoxx® EUR Liquid Corporates Large Cap while IEXA.DE tracks the Bloomberg Euro Corporate ex-Financials Bond. Both are passively managed. Over the past 3 years, IBCS.DE returned 4.46%/yr vs 4.16%/yr for IEXA.DE. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.
Performance
IBCS.DE vs. IEXA.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 IEXA.DE's 1.30% 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%
IEXA.DE
- 1D
- 0.00%
- 1M
- 0.74%
- YTD
- 1.30%
- 6M
- 1.48%
- 1Y
- 2.24%
- 3Y*
- 4.16%
- 5Y*
- —
- 10Y*
- —
IBCS.DE vs. IEXA.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% | -5.65% |
IEXA.DE iShares EUR Corporate Bond ex-Financials UCITS ETF EUR Acc | 1.30% | 2.47% | 3.54% | 7.38% | -5.39% |
Correlation
The correlation between IBCS.DE and IEXA.DE is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since May 27, 2022 | 0.88 |
The correlation between IBCS.DE and IEXA.DE has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.
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Return for Risk
IBCS.DE vs. IEXA.DE — Risk / Return Rank
IBCS.DE
IEXA.DE
IBCS.DE vs. IEXA.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 Acc (IEXA.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 | IEXA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.14 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | 0.87 | -0.02 |
| Martin ratioReturn relative to average drawdown | 2.92 | 2.79 | +0.13 |
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Drawdowns
IBCS.DE vs. IEXA.DE - Drawdown Comparison
The maximum IBCS.DE drawdown since its inception was -17.87%, which is greater than IEXA.DE's maximum drawdown of -9.06%. Use the drawdown chart below to compare losses from any high point for IBCS.DE and IEXA.DE.
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Drawdown Indicators
| IBCS.DE | IEXA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.87% | -9.06% | -8.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.78% | -2.56% | -0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -2.78% | -2.56% | -0.22% |
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% | 0.00% | -2.06% |
Average DrawdownAverage peak-to-trough decline | -2.98% | -2.24% | -0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.80% | +0.02% |
Volatility
IBCS.DE vs. IEXA.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 Acc (IEXA.DE) at 0.78%. This indicates that IBCS.DE's price experiences larger fluctuations and is considered to be riskier than IEXA.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 | IEXA.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% | 3.26% | +0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.74% | 4.77% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.47% | 4.77% | -0.30% |
IBCS.DE vs. IEXA.DE - Expense Ratio Comparison
Both IBCS.DE and IEXA.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. IEXA.DE - Dividend Comparison
IBCS.DE's dividend yield for the trailing twelve months is around 3.11%, while IEXA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IEXA.DE iShares EUR Corporate Bond ex-Financials UCITS ETF EUR 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% |
Frequently Asked Questions
IBCS.DE and IEXA.DE have a correlation of 0.81, 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 IEXA.DE have the same expense ratio: 0.20% per year.
IBCS.DE tracks iBoxx® EUR Liquid Corporates Large Cap, while IEXA.DE tracks Bloomberg Euro Corporate ex-Financials Bond.
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