IBCX.L vs. SE15.L
IBCX.L (iShares Euro Corporate Bond Large Cap UCITS ETF) and SE15.L (iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist)) are both European Corporate Bonds funds from iShares - IBCX.L tracks the Bloomberg Euro Corp TR EUR while SE15.L tracks the Bloomberg Euro Agg Corp 1-3 Yr TR EUR. Both are passively managed. Over the past 10 years, IBCX.L returned 0.73%/yr vs 1.21%/yr for SE15.L. At a 0.32 correlation, their price movements are largely independent. Both charge a 0.20% expense ratio.
Performance
IBCX.L vs. SE15.L - Performance Comparison
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Different Trading Currencies
IBCX.L is traded in EUR, while SE15.L is traded in GBP. To make them comparable, the SE15.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 SE15.L's 0.55% return. Over the past 10 years, IBCX.L has underperformed SE15.L with an annualized return of 0.73%, while SE15.L has yielded a comparatively higher 1.21% 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%
SE15.L
- 1D
- 0.13%
- 1M
- 0.54%
- YTD
- 0.55%
- 6M
- 0.72%
- 1Y
- 2.31%
- 3Y*
- 4.69%
- 5Y*
- 1.37%
- 10Y*
- 1.21%
IBCX.L vs. SE15.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% |
SE15.L iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist) | 0.55% | 3.69% | 4.83% | 6.24% | -7.66% | -0.57% | 0.90% | 3.82% | -0.89% | 0.39% |
Correlation
The correlation between IBCX.L and SE15.L is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2009 | 0.32 |
The correlation between IBCX.L and SE15.L shifts across timeframes, from 0.32 (all time) to 0.59 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBCX.L vs. SE15.L — Risk / Return Rank
IBCX.L
SE15.L
IBCX.L vs. SE15.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 EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist) (SE15.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 | SE15.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.14 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.67 | 1.08 | -0.42 |
| Martin ratioReturn relative to average drawdown | 2.36 | 3.82 | -1.46 |
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 | SE15.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.58 | 0.82 | -0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.05 | 0.35 | -0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.15 | 0.27 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.39 | -0.10 |
Drawdowns
IBCX.L vs. SE15.L - Drawdown Comparison
The maximum IBCX.L drawdown since its inception was -23.17%, which is greater than SE15.L's maximum drawdown of -11.13%. Use the drawdown chart below to compare losses from any high point for IBCX.L and SE15.L.
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Drawdown Indicators
| IBCX.L | SE15.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.17% | -11.13% | -12.04% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -2.12% | -0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -2.73% | -2.12% | -0.61% |
Max Drawdown (5Y)Largest decline over 5 years | -17.79% | -10.82% | -6.97% |
Max Drawdown (10Y)Largest decline over 10 years | -17.79% | -10.84% | -6.95% |
Current DrawdownCurrent decline from peak | -2.76% | -0.51% | -2.25% |
Average DrawdownAverage peak-to-trough decline | -2.99% | -1.65% | -1.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.60% | +0.17% |
Volatility
IBCX.L vs. SE15.L - Volatility Comparison
iShares Euro Corporate Bond Large Cap UCITS ETF (IBCX.L) and iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist) (SE15.L) have volatilities of 1.08% and 1.04%, 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 | SE15.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.08% | 1.04% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.67% | 2.28% | +0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.12% | 2.79% | +0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.65% | 3.93% | +0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.79% | 4.56% | +0.23% |
IBCX.L vs. SE15.L - Expense Ratio Comparison
Both IBCX.L and SE15.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. SE15.L - Dividend Comparison
IBCX.L's dividend yield for the trailing twelve months is around 3.07%, less than SE15.L's 3.51% 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% |
SE15.L iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist) | 3.51% | 3.34% | 3.02% | 1.62% | 0.58% | 0.68% | 0.66% | 0.73% | 0.69% | 0.77% | 1.05% | 0.77% |
Frequently Asked Questions
IBCX.L and SE15.L have a correlation of 0.51, 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 SE15.L have the same expense ratio: 0.20% per year.
IBCX.L tracks Bloomberg Euro Corp TR EUR, while SE15.L tracks Bloomberg Euro Agg Corp 1-3 Yr TR EUR.
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