IEAA.L vs. EUCO.L
IEAA.L (iShares Core Euro Corporate Bond UCITS ETF (Acc)) and EUCO.L (SPDR Bloomberg Euro Corporate Bond UCITS ETF) are both European Corporate Bonds funds tracking the Bloomberg Euro Corp TR EUR, from iShares and State Street respectively. Both are passively managed. Over the past 5 years, IEAA.L returned 0.09%/yr vs 0.01%/yr for EUCO.L. Their correlation of 0.86 suggests significant overlap in exposure. IEAA.L charges 0.20%/yr vs 0.12%/yr for EUCO.L.
Performance
IEAA.L vs. EUCO.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IEAA.L achieves a 0.56% return, which is significantly higher than EUCO.L's 0.53% return.
IEAA.L
- 1D
- 0.13%
- 1M
- 0.35%
- YTD
- 0.56%
- 6M
- 0.50%
- 1Y
- 2.22%
- 3Y*
- 4.59%
- 5Y*
- 0.09%
- 10Y*
- —
EUCO.L
- 1D
- 0.09%
- 1M
- 0.70%
- YTD
- 0.53%
- 6M
- 0.41%
- 1Y
- 1.90%
- 3Y*
- 4.56%
- 5Y*
- 0.01%
- 10Y*
- 1.02%
IEAA.L vs. EUCO.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEAA.L iShares Core Euro Corporate Bond UCITS ETF (Acc) | 0.56% | 3.10% | 4.31% | 7.51% | -13.40% | -1.11% | 2.70% | 6.24% | -1.48% | 0.45% |
EUCO.L SPDR Bloomberg Euro Corporate Bond UCITS ETF | 0.53% | 2.91% | 4.46% | 7.64% | -13.67% | -1.21% | 2.64% | 6.74% | -1.39% | 0.39% |
Correlation
The correlation between IEAA.L and EUCO.L is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2017 | 0.86 |
The correlation between IEAA.L and EUCO.L has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.
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
IEAA.L vs. EUCO.L — Risk / Return Rank
IEAA.L
EUCO.L
IEAA.L vs. EUCO.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Euro Corporate Bond UCITS ETF (Acc) (IEAA.L) and SPDR Bloomberg Euro Corporate Bond UCITS ETF (EUCO.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.
| IEAA.L | EUCO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.11 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.72 | 0.71 | 0.00 |
| Martin ratioReturn relative to average drawdown | 2.55 | 2.45 | +0.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IEAA.L | EUCO.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.63 | 0.59 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.00 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.23 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.27 | -0.09 |
Drawdowns
IEAA.L vs. EUCO.L - Drawdown Comparison
The maximum IEAA.L drawdown since its inception was -17.29%, roughly equal to the maximum EUCO.L drawdown of -17.53%. Use the drawdown chart below to compare losses from any high point for IEAA.L and EUCO.L.
Loading charts...
Drawdown Indicators
| IEAA.L | EUCO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.29% | -17.53% | +0.24% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -2.66% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -2.73% | -2.66% | -0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -17.29% | -17.53% | +0.24% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.53% | — |
Current DrawdownCurrent decline from peak | -1.07% | -1.45% | +0.38% |
Average DrawdownAverage peak-to-trough decline | -4.56% | -3.86% | -0.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.77% | 0.00% |
Volatility
IEAA.L vs. EUCO.L - Volatility Comparison
iShares Core Euro Corporate Bond UCITS ETF (Acc) (IEAA.L) has a higher volatility of 1.30% compared to SPDR Bloomberg Euro Corporate Bond UCITS ETF (EUCO.L) at 1.18%. This indicates that IEAA.L's price experiences larger fluctuations and is considered to be riskier than EUCO.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IEAA.L | EUCO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.30% | 1.18% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 2.70% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.11% | 3.19% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.47% | 4.52% | -0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.68% | 4.45% | +0.23% |
IEAA.L vs. EUCO.L - Expense Ratio Comparison
IEAA.L has a 0.20% expense ratio, which is higher than EUCO.L's 0.12% 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
IEAA.L vs. EUCO.L - Dividend Comparison
IEAA.L has not paid dividends to shareholders, while EUCO.L's dividend yield for the trailing twelve months is around 3.26%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUCO.L SPDR Bloomberg Euro Corporate Bond UCITS ETF | 3.26% | 3.25% | 3.07% | 2.13% | 0.96% | 0.89% | 0.86% | 1.38% | 0.89% | 1.21% | 1.36% | 1.71% |
IEAA.L iShares Core Euro Corporate Bond UCITS ETF (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
IEAA.L and EUCO.L have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUCO.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUCO.L is cheaper with a 0.12% expense ratio, compared with 0.20% for IEAA.L.
Both ETFs track Bloomberg Euro Corp TR EUR. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for IEAA.L and 0.12% for EUCO.L.
Find the right allocation for IEAA.L and EUCO.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