IBCX.L vs. IEAC.L
IBCX.L (iShares Euro Corporate Bond Large Cap UCITS ETF) and IEAC.L (iShares Core € Corp Bond UCITS ETF EUR (Dist)) are both European Corporate Bonds funds from iShares - IBCX.L tracks the Bloomberg Euro Corp TR EUR while IEAC.L tracks the BBG Euro Corporate Index (EUR). Both are passively managed. Over the past 10 years, IBCX.L returned 0.53%/yr vs 0.64%/yr for IEAC.L. Their correlation of 0.85 suggests significant overlap in exposure. IBCX.L charges 0.20%/yr vs 0.09%/yr for IEAC.L.
Performance
IBCX.L vs. IEAC.L - Performance Comparison
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Returns By Period
In the year-to-date period, IBCX.L achieves a 0.41% return, which is significantly higher than IEAC.L's -1.30% return. Over the past 10 years, IBCX.L has underperformed IEAC.L with an annualized return of 0.53%, while IEAC.L has yielded a comparatively higher 0.64% annualized return.
IBCX.L
- 1D
- 0.03%
- 1M
- -0.43%
- 6M
- 0.09%
- YTD
- 0.41%
- 1Y
- 1.30%
- 3Y*
- 3.95%
- 5Y*
- -0.44%
- 10Y*
- 0.53%
IEAC.L
- 1D
- 0.03%
- 1M
- -0.43%
- 6M
- 0.07%
- YTD
- -1.30%
- 1Y
- -0.34%
- 3Y*
- 3.69%
- 5Y*
- -0.44%
- 10Y*
- 0.64%
IBCX.L vs. IEAC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBCX.L iShares Euro Corporate Bond Large Cap UCITS ETF | 0.41% | 3.15% | 3.48% | 7.33% | -13.95% | -1.48% | 2.83% | 6.04% | -1.28% | 1.61% |
IEAC.L iShares Core € Corp Bond UCITS ETF EUR (Dist) | -1.30% | 3.22% | 4.32% | 7.42% | -13.36% | -1.07% | 2.60% | 6.20% | -1.47% | 2.20% |
Correlation
The correlation between IBCX.L and IEAC.L is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2009 | 0.85 |
The correlation between IBCX.L and IEAC.L has been stable across timeframes, ranging from 0.85 to 0.94 - a consistent structural relationship.
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Return for Risk
IBCX.L vs. IEAC.L — Risk / Return Rank
IBCX.L
IEAC.L
IBCX.L vs. IEAC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Corporate Bond Large Cap UCITS ETF (IBCX.L) and iShares Core € Corp Bond UCITS ETF EUR (Dist) (IEAC.L). 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.
| IBCX.L | IEAC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.15 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.47 | -0.01 | +0.49 |
| Martin ratioReturn relative to average drawdown | 1.63 | -0.17 | +1.80 |
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Drawdowns
IBCX.L vs. IEAC.L - Drawdown Comparison
The maximum IBCX.L drawdown since its inception was -17.79%, smaller than the maximum IEAC.L drawdown of -24.28%. Use the drawdown chart below to compare losses from any high point for IBCX.L and IEAC.L.
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Drawdown Indicators
| IBCX.L | IEAC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.79% | -24.28% | +6.49% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -23.42% | +20.69% |
Max Drawdown (3Y)Largest decline over 3 years | -2.73% | -23.42% | +20.69% |
Max Drawdown (5Y)Largest decline over 5 years | -17.79% | -24.28% | +6.49% |
Max Drawdown (10Y)Largest decline over 10 years | -17.79% | -24.28% | +6.49% |
Current DrawdownCurrent decline from peak | -2.84% | -2.79% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -2.94% | -3.03% | +0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 2.02% | -1.23% |
Volatility
IBCX.L vs. IEAC.L - Volatility Comparison
iShares Euro Corporate Bond Large Cap UCITS ETF (IBCX.L) and iShares Core € Corp Bond UCITS ETF EUR (Dist) (IEAC.L) have volatilities of 0.85% and 0.86%, 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
| IBCX.L | IEAC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | 0.86% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.73% | 36.11% | -33.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.14% | 36.42% | -33.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.66% | 16.86% | -12.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.79% | 12.32% | -7.53% |
IBCX.L vs. IEAC.L - Expense Ratio Comparison
IBCX.L has a 0.20% expense ratio, which is higher than IEAC.L's 0.09% 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
IBCX.L vs. IEAC.L - Dividend Comparison
IBCX.L's dividend yield for the trailing twelve months is around 3.14%, more than IEAC.L's 1.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBCX.L iShares Euro Corporate Bond Large Cap UCITS ETF | 3.14% | 3.02% | 2.74% | 2.31% | 1.05% | 0.73% | 0.84% | 0.99% | 1.10% | 1.09% | 1.27% | 1.57% |
IEAC.L iShares Core € Corp Bond UCITS ETF EUR (Dist) | 1.65% | 3.29% | 3.39% | 2.51% | 0.84% | 0.81% | 0.84% | 1.10% | 0.98% | 1.52% | 1.66% | 0.90% |
Frequently Asked Questions
IBCX.L and IEAC.L have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEAC.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEAC.L is cheaper with a 0.09% expense ratio, compared with 0.20% for IBCX.L.
IBCX.L tracks Bloomberg Euro Corp TR EUR, while IEAC.L tracks BBG Euro Corporate Index (EUR). Their fees differ too: 0.20% for IBCX.L and 0.09% for IEAC.L.
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