IBCX.L vs. IS15.L
IBCX.L (iShares Euro Corporate Bond Large Cap UCITS ETF) and IS15.L (iShares GBP Corporate Bond 0-5yr UCITS ETF) are both European Corporate Bonds funds from iShares - IBCX.L tracks the Bloomberg Euro Corp TR EUR while IS15.L tracks the Markit iBoxx GBP NonGilts 1-5 TR. Both are passively managed. Over the past 10 years, IBCX.L returned 0.73%/yr vs 1.27%/yr for IS15.L. At a 0.25 correlation, their price movements are largely independent. Both charge a 0.20% expense ratio.
Performance
IBCX.L vs. IS15.L - Performance Comparison
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Different Trading Currencies
IBCX.L is traded in EUR, while IS15.L is traded in GBP. To make them comparable, the IS15.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IBCX.L achieves a 0.49% return, which is significantly lower than IS15.L's 1.58% return. Over the past 10 years, IBCX.L has underperformed IS15.L with an annualized return of 0.73%, while IS15.L has yielded a comparatively higher 1.27% annualized return.
IBCX.L
- 1D
- 0.06%
- 1M
- 0.76%
- YTD
- 0.49%
- 6M
- 0.44%
- 1Y
- 1.83%
- 3Y*
- 4.28%
- 5Y*
- -0.26%
- 10Y*
- 0.73%
IS15.L
- 1D
- -0.27%
- 1M
- 0.71%
- YTD
- 1.58%
- 6M
- 2.14%
- 1Y
- 1.83%
- 3Y*
- 5.91%
- 5Y*
- 2.21%
- 10Y*
- 1.27%
IBCX.L vs. IS15.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 | 0.49% | 3.14% | 3.48% | 7.33% | -13.95% | -1.48% | 2.83% | 6.04% | -1.28% | 1.60% |
IS15.L iShares GBP Corporate Bond 0-5yr UCITS ETF | 1.58% | 0.70% | 9.95% | 9.43% | -10.93% | 5.61% | -2.24% | 11.19% | -1.71% | -2.25% |
Correlation
The correlation between IBCX.L and IS15.L is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2011 | 0.25 |
The correlation between IBCX.L and IS15.L shifts across timeframes, from 0.25 (all time) to 0.40 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBCX.L vs. IS15.L — Risk / Return Rank
IBCX.L
IS15.L
IBCX.L vs. IS15.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 GBP Corporate Bond 0-5yr UCITS ETF (IS15.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.
| IBCX.L | IS15.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.07 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.67 | 0.77 | -0.10 |
| Martin ratioReturn relative to average drawdown | 2.36 | 1.62 | +0.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBCX.L | IS15.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.58 | 0.40 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.05 | 0.34 | -0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.15 | 0.16 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.36 | -0.07 |
Drawdowns
IBCX.L vs. IS15.L - Drawdown Comparison
The maximum IBCX.L drawdown since its inception was -23.17%, roughly equal to the maximum IS15.L drawdown of -23.72%. Use the drawdown chart below to compare losses from any high point for IBCX.L and IS15.L.
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Drawdown Indicators
| IBCX.L | IS15.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.17% | -23.72% | +0.55% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -2.40% | -0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -2.73% | -5.58% | +2.85% |
Max Drawdown (5Y)Largest decline over 5 years | -17.79% | -17.00% | -0.79% |
Max Drawdown (10Y)Largest decline over 10 years | -17.79% | -18.73% | +0.94% |
Current DrawdownCurrent decline from peak | -2.76% | -0.27% | -2.49% |
Average DrawdownAverage peak-to-trough decline | -2.99% | -7.61% | +4.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 1.14% | -0.37% |
Volatility
IBCX.L vs. IS15.L - Volatility Comparison
The current volatility for iShares Euro Corporate Bond Large Cap UCITS ETF (IBCX.L) is 1.08%, while iShares GBP Corporate Bond 0-5yr UCITS ETF (IS15.L) has a volatility of 1.24%. This indicates that IBCX.L experiences smaller price fluctuations and is considered to be less risky than IS15.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBCX.L | IS15.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.08% | 1.24% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 2.67% | 3.28% | -0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.12% | 4.63% | -1.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.65% | 6.52% | -1.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.79% | 7.92% | -3.13% |
IBCX.L vs. IS15.L - Expense Ratio Comparison
Both IBCX.L and IS15.L 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
IBCX.L vs. IS15.L - Dividend Comparison
IBCX.L's dividend yield for the trailing twelve months is around 3.07%, less than IS15.L's 4.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBCX.L iShares Euro Corporate Bond Large Cap UCITS ETF | 3.07% | 3.02% | 2.74% | 2.31% | 1.05% | 0.73% | 0.84% | 0.99% | 1.10% | 1.09% | 1.27% | 1.57% |
IS15.L iShares GBP Corporate Bond 0-5yr UCITS ETF | 4.54% | 4.35% | 4.06% | 3.05% | 1.80% | 1.72% | 1.81% | 2.03% | 2.08% | 2.15% | 2.55% | 2.91% |
Frequently Asked Questions
IBCX.L and IS15.L have a correlation of 0.37, 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.
IBCX.L and IS15.L have the same expense ratio: 0.20% per year.
IBCX.L tracks Bloomberg Euro Corp TR EUR, while IS15.L tracks Markit iBoxx GBP NonGilts 1-5 TR.
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