IBCS.DE vs. IPAB.DE
IBCS.DE (iShares Euro Corporate Bond Large Cap UCITS ETF) and IPAB.DE (iShares EUR Corporate Bond ESG Paris-Aligned Climate UCITS ETF EUR Acc) are both European Corporate Bonds funds from iShares - IBCS.DE tracks the iBoxx® EUR Liquid Corporates Large Cap while IPAB.DE tracks the Bloomberg MSCI Euro Corporate Climate Paris Aligned ESG Select. Both are passively managed. Over the past 3 years, IBCS.DE returned 3.91%/yr vs 4.20%/yr for IPAB.DE. Their correlation of 0.85 suggests significant overlap in exposure. IBCS.DE charges 0.20%/yr vs 0.15%/yr for IPAB.DE.
Performance
IBCS.DE vs. IPAB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBCS.DE achieves a 0.49% return, which is significantly higher than IPAB.DE's 0.36% return.
IBCS.DE
- 1D
- -0.05%
- 1M
- -0.52%
- 6M
- -0.01%
- YTD
- 0.49%
- 1Y
- 1.14%
- 3Y*
- 3.91%
- 5Y*
- -0.46%
- 10Y*
- 0.51%
IPAB.DE
- 1D
- 0.00%
- 1M
- -0.71%
- 6M
- 0.00%
- YTD
- 0.36%
- 1Y
- 1.08%
- 3Y*
- 4.20%
- 5Y*
- —
- 10Y*
- —
IBCS.DE vs. IPAB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IBCS.DE iShares Euro Corporate Bond Large Cap UCITS ETF | 0.49% | 2.83% | 3.66% | 7.36% | -4.08% |
IPAB.DE iShares EUR Corporate Bond ESG Paris-Aligned Climate UCITS ETF EUR Acc | 0.36% | 2.95% | 4.43% | 7.23% | -3.20% |
Correlation
The correlation between IBCS.DE and IPAB.DE is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jun 9, 2022 | 0.85 |
Over the past year, the correlation between IBCS.DE and IPAB.DE has dropped to 0.62 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.
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Return for Risk
IBCS.DE vs. IPAB.DE — Risk / Return Rank
IBCS.DE
IPAB.DE
IBCS.DE vs. IPAB.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 ESG Paris-Aligned Climate UCITS ETF EUR Acc (IPAB.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 | IPAB.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 | 1.06 | 1.07 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 0.41 | 0.00 |
| Martin ratioReturn relative to average drawdown | 1.37 | 1.48 | -0.11 |
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Drawdowns
IBCS.DE vs. IPAB.DE - Drawdown Comparison
The maximum IBCS.DE drawdown since its inception was -17.87%, which is greater than IPAB.DE's maximum drawdown of -9.09%. Use the drawdown chart below to compare losses from any high point for IBCS.DE and IPAB.DE.
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Drawdown Indicators
| IBCS.DE | IPAB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.87% | -9.09% | -8.78% |
Max Drawdown (1Y)Largest decline over 1 year | -2.78% | -2.66% | -0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -2.78% | -2.66% | -0.12% |
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 | -2.93% | -0.88% | -2.05% |
Average DrawdownAverage peak-to-trough decline | -2.98% | -2.06% | -0.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 0.73% | +0.10% |
Volatility
IBCS.DE vs. IPAB.DE - Volatility Comparison
iShares Euro Corporate Bond Large Cap UCITS ETF (IBCS.DE) and iShares EUR Corporate Bond ESG Paris-Aligned Climate UCITS ETF EUR Acc (IPAB.DE) have volatilities of 0.78% and 0.79%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBCS.DE | IPAB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 0.79% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 2.60% | +0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.41% | 3.11% | +0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.75% | 4.47% | +0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.47% | 4.47% | 0.00% |
IBCS.DE vs. IPAB.DE - Expense Ratio Comparison
IBCS.DE has a 0.20% expense ratio, which is higher than IPAB.DE's 0.15% 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. IPAB.DE - Dividend Comparison
IBCS.DE's dividend yield for the trailing twelve months is around 3.14%, while IPAB.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 | 3.14% | 3.03% | 2.74% | 2.31% | 1.05% | 0.73% | 0.85% | 0.99% | 1.10% | 1.09% | 1.27% | 1.57% |
IPAB.DE iShares EUR Corporate Bond ESG Paris-Aligned Climate 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 IPAB.DE have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IPAB.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IPAB.DE is cheaper with a 0.15% expense ratio, compared with 0.20% for IBCS.DE.
IBCS.DE tracks iBoxx® EUR Liquid Corporates Large Cap, while IPAB.DE tracks Bloomberg MSCI Euro Corporate Climate Paris Aligned ESG Select. Their fees differ too: 0.20% for IBCS.DE and 0.15% for IPAB.DE.
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