IEAA.L vs. FLOA.L
IEAA.L (iShares Core Euro Corporate Bond UCITS ETF (Acc)) and FLOA.L (iShares USD Floating Rate Bond UCITS ETF USD (Acc)) are both exchange-traded funds - IEAA.L is a European Corporate Bonds fund tracking the Bloomberg Euro Corp TR EUR, while FLOA.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD. Both are passively managed. Over the past 5 years, IEAA.L returned 0.09%/yr vs 5.25%/yr for FLOA.L. At a correlation of -0.04, they often move in opposite directions. IEAA.L charges 0.20%/yr vs 0.10%/yr for FLOA.L.
Performance
IEAA.L vs. FLOA.L - Performance Comparison
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Different Trading Currencies
IEAA.L is traded in EUR, while FLOA.L is traded in USD. To make them comparable, the FLOA.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IEAA.L achieves a 0.56% return, which is significantly lower than FLOA.L's 3.21% 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*
- —
FLOA.L
- 1D
- -0.07%
- 1M
- 1.49%
- YTD
- 3.21%
- 6M
- 2.48%
- 1Y
- 3.51%
- 3Y*
- 2.93%
- 5Y*
- 5.25%
- 10Y*
- —
IEAA.L vs. FLOA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | -0.92% |
FLOA.L iShares USD Floating Rate Bond UCITS ETF USD (Acc) | 3.21% | -7.48% | 13.44% | 3.42% | 7.63% | 7.94% | -7.45% | 6.52% | 8.28% |
Correlation
The correlation between IEAA.L and FLOA.L is -0.24, 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 | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Mar 29, 2018 | -0.04 |
Over the past year, the inverse relationship between IEAA.L and FLOA.L has strengthened: their correlation has moved from -0.04 to -0.24, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
IEAA.L vs. FLOA.L — Risk / Return Rank
IEAA.L
FLOA.L
IEAA.L vs. FLOA.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 iShares USD Floating Rate Bond UCITS ETF USD (Acc) (FLOA.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 | FLOA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.09 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.72 | 0.90 | -0.18 |
| Martin ratioReturn relative to average drawdown | 2.55 | 2.06 | +0.49 |
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
| IEAA.L | FLOA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.63 | 0.51 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.68 | -0.66 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.51 | -0.33 |
Drawdowns
IEAA.L vs. FLOA.L - Drawdown Comparison
The maximum IEAA.L drawdown since its inception was -17.29%, which is greater than FLOA.L's maximum drawdown of -13.98%. Use the drawdown chart below to compare losses from any high point for IEAA.L and FLOA.L.
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Drawdown Indicators
| IEAA.L | FLOA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.29% | -13.98% | -3.31% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -3.62% | +0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -2.73% | -11.27% | +8.54% |
Max Drawdown (5Y)Largest decline over 5 years | -17.29% | -11.27% | -6.02% |
Current DrawdownCurrent decline from peak | -1.07% | -5.70% | +4.63% |
Average DrawdownAverage peak-to-trough decline | -4.56% | -4.68% | +0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 1.58% | -0.81% |
Volatility
IEAA.L vs. FLOA.L - Volatility Comparison
The current volatility for iShares Core Euro Corporate Bond UCITS ETF (Acc) (IEAA.L) is 1.30%, while iShares USD Floating Rate Bond UCITS ETF USD (Acc) (FLOA.L) has a volatility of 1.41%. This indicates that IEAA.L experiences smaller price fluctuations and is considered to be less risky than FLOA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEAA.L | FLOA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.30% | 1.41% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 4.45% | -1.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.11% | 6.36% | -3.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.47% | 7.74% | -3.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.68% | 8.09% | -3.41% |
IEAA.L vs. FLOA.L - Expense Ratio Comparison
IEAA.L has a 0.20% expense ratio, which is higher than FLOA.L's 0.10% 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. FLOA.L - Dividend Comparison
Neither IEAA.L nor FLOA.L has paid dividends to shareholders.
Frequently Asked Questions
IEAA.L and FLOA.L have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FLOA.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FLOA.L is cheaper with a 0.10% expense ratio, compared with 0.20% for IEAA.L.
IEAA.L is categorized as European Corporate Bonds, while FLOA.L is Corporate Bonds. IEAA.L tracks Bloomberg Euro Corp TR EUR, while FLOA.L tracks Bloomberg US Corp Bond TR USD. Their fees differ too: 0.20% for IEAA.L and 0.10% for FLOA.L.
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