IBTM.L vs. CEUG.L
IBTM.L (iShares USD Treasury Bond 7-10yr UCITS ETF (Dist)) and CEUG.L (iShares MSCI EMU UCITS ETF GBP Hedged (Dist)) are both exchange-traded funds - IBTM.L is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while CEUG.L is a Europe Equities fund tracking the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, IBTM.L returned -0.07%/yr vs 12.17%/yr for CEUG.L. At a correlation of -0.31, they often move in opposite directions. IBTM.L charges 0.07%/yr vs 0.12%/yr for CEUG.L.
Performance
IBTM.L vs. CEUG.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IBTM.L achieves a -0.44% return, which is significantly lower than CEUG.L's 11.57% return.
IBTM.L
- 1D
- -0.27%
- 1M
- 1.13%
- YTD
- -0.44%
- 6M
- -0.61%
- 1Y
- 4.98%
- 3Y*
- 0.81%
- 5Y*
- -0.07%
- 10Y*
- 1.18%
CEUG.L
- 1D
- 2.06%
- 1M
- 5.84%
- YTD
- 11.57%
- 6M
- 13.31%
- 1Y
- 22.80%
- 3Y*
- 18.00%
- 5Y*
- 12.17%
- 10Y*
- —
IBTM.L vs. CEUG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IBTM.L iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) | -0.44% | 0.89% | 1.46% | -2.26% | -4.74% | -1.77% | 6.02% | 5.50% | 6.90% |
CEUG.L iShares MSCI EMU UCITS ETF GBP Hedged (Dist) | 11.57% | 26.85% | 10.80% | 20.45% | -10.50% | 22.91% | -0.24% | 26.08% | -12.18% |
Correlation
The correlation between IBTM.L and CEUG.L is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.30 |
Correlation (All Time) Calculated using the full available price history since May 31, 2018 | -0.31 |
The correlation between IBTM.L and CEUG.L shifts across timeframes, from -0.31 (all time) to -0.16 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IBTM.L vs. CEUG.L — Risk / Return Rank
IBTM.L
CEUG.L
IBTM.L vs. CEUG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) (IBTM.L) and iShares MSCI EMU UCITS ETF GBP Hedged (Dist) (CEUG.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.
| IBTM.L | CEUG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.30 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.89 | 2.26 | -1.37 |
| Martin ratioReturn relative to average drawdown | 2.08 | 8.53 | -6.45 |
Loading charts...
Drawdowns
IBTM.L vs. CEUG.L - Drawdown Comparison
The maximum IBTM.L drawdown since its inception was -52.39%, which is greater than CEUG.L's maximum drawdown of -38.52%. Use the drawdown chart below to compare losses from any high point for IBTM.L and CEUG.L.
Loading charts...
Drawdown Indicators
| IBTM.L | CEUG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.39% | -38.52% | -13.87% |
Max Drawdown (1Y)Largest decline over 1 year | -5.57% | -10.04% | +4.47% |
Max Drawdown (3Y)Largest decline over 3 years | -7.57% | -15.35% | +7.78% |
Max Drawdown (5Y)Largest decline over 5 years | -16.29% | -24.06% | +7.77% |
Max Drawdown (10Y)Largest decline over 10 years | -26.54% | — | — |
Current DrawdownCurrent decline from peak | -21.38% | 0.00% | -21.38% |
Average DrawdownAverage peak-to-trough decline | -20.63% | -5.50% | -15.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.38% | 2.67% | -0.29% |
Volatility
IBTM.L vs. CEUG.L - Volatility Comparison
The current volatility for iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) (IBTM.L) is 1.55%, while iShares MSCI EMU UCITS ETF GBP Hedged (Dist) (CEUG.L) has a volatility of 4.17%. This indicates that IBTM.L experiences smaller price fluctuations and is considered to be less risky than CEUG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IBTM.L | CEUG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 4.17% | -2.62% |
Volatility (6M)Calculated over the trailing 6-month period | 4.49% | 11.63% | -7.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.25% | 14.27% | -8.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.47% | 16.25% | -6.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.58% | 18.09% | -7.51% |
IBTM.L vs. CEUG.L - Expense Ratio Comparison
IBTM.L has a 0.07% expense ratio, which is lower than CEUG.L's 0.12% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IBTM.L vs. CEUG.L - Dividend Comparison
IBTM.L's dividend yield for the trailing twelve months is around 4.36%, more than CEUG.L's 2.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEUG.L iShares MSCI EMU UCITS ETF GBP Hedged (Dist) | 2.32% | 2.53% | 2.81% | 2.73% | 2.84% | 1.81% | 1.77% | 3.05% | 0.38% | 0.00% | 0.00% | 0.00% |
IBTM.L iShares USD Treasury Bond 7-10yr UCITS ETF (Dist) | 4.36% | 4.19% | 3.94% | 3.16% | 1.96% | 1.14% | 1.69% | 2.53% | 2.34% | 2.02% | 1.79% | 1.97% |
Frequently Asked Questions
IBTM.L and CEUG.L have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTM.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTM.L is cheaper with a 0.07% expense ratio, compared with 0.12% for CEUG.L.
IBTM.L is categorized as Government Bonds, while CEUG.L is Europe Equities. IBTM.L tracks ICE U.S. Treasury 7-10 Year Bond Index, while CEUG.L tracks MSCI Europe NR EUR. Their fees differ too: 0.07% for IBTM.L and 0.12% for CEUG.L.
Find the right allocation for IBTM.L and CEUG.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer