IEAA.L vs. SEUC.L
IEAA.L (iShares Core Euro Corporate Bond UCITS ETF (Acc)) and SEUC.L (SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF) are both European Corporate Bonds funds - IEAA.L tracks the Bloomberg Euro Corp TR EUR while SEUC.L tracks the Bloomberg Euro Agg Corp 1-3 Yr TR EUR. Both are passively managed. Over the past 5 years, IEAA.L returned 0.09%/yr vs 1.59%/yr for SEUC.L. A 0.65 correlation means they provide meaningful diversification when combined. Both charge a 0.20% expense ratio.
Performance
IEAA.L vs. SEUC.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with IEAA.L having a 0.56% return and SEUC.L slightly lower at 0.55%.
IEAA.L
- 1D
- 0.13%
- 1M
- 0.35%
- YTD
- 0.56%
- 6M
- 0.50%
- 1Y
- 2.22%
- 3Y*
- 4.59%
- 5Y*
- 0.09%
- 10Y*
- —
SEUC.L
- 1D
- 0.05%
- 1M
- 0.35%
- YTD
- 0.55%
- 6M
- 0.70%
- 1Y
- 1.91%
- 3Y*
- 3.72%
- 5Y*
- 1.59%
- 10Y*
- 0.86%
IEAA.L vs. SEUC.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% |
SEUC.L SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF | 0.55% | 3.03% | 4.21% | 4.17% | -3.54% | -0.27% | 0.22% | 0.79% | -0.53% | -0.10% |
Correlation
The correlation between IEAA.L and SEUC.L is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2017 | 0.65 |
The correlation between IEAA.L and SEUC.L has been stable across timeframes, ranging from 0.65 to 0.74 - a consistent structural relationship.
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Return for Risk
IEAA.L vs. SEUC.L — Risk / Return Rank
IEAA.L
SEUC.L
IEAA.L vs. SEUC.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 0-3 Year Corporate Bond UCITS ETF (SEUC.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 | SEUC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.14 | ||
| Sortino ratioReturn per unit of downside risk | -1.96 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.40 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.72 | 2.28 | -1.57 |
| Martin ratioReturn relative to average drawdown | 2.55 | 9.27 | -6.72 |
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 | SEUC.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.63 | 1.77 | -1.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 1.18 | -1.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.40 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.47 | -0.29 |
Drawdowns
IEAA.L vs. SEUC.L - Drawdown Comparison
The maximum IEAA.L drawdown since its inception was -17.29%, which is greater than SEUC.L's maximum drawdown of -7.82%. Use the drawdown chart below to compare losses from any high point for IEAA.L and SEUC.L.
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Drawdown Indicators
| IEAA.L | SEUC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.29% | -7.82% | -9.47% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -0.83% | -1.90% |
Max Drawdown (3Y)Largest decline over 3 years | -2.73% | -0.83% | -1.90% |
Max Drawdown (5Y)Largest decline over 5 years | -17.29% | -4.90% | -12.39% |
Max Drawdown (10Y)Largest decline over 10 years | — | -7.82% | — |
Current DrawdownCurrent decline from peak | -1.07% | -0.10% | -0.97% |
Average DrawdownAverage peak-to-trough decline | -4.56% | -0.65% | -3.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.21% | +0.56% |
Volatility
IEAA.L vs. SEUC.L - Volatility Comparison
iShares Core Euro Corporate Bond UCITS ETF (Acc) (IEAA.L) has a higher volatility of 1.30% compared to SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF (SEUC.L) at 0.36%. This indicates that IEAA.L's price experiences larger fluctuations and is considered to be riskier than SEUC.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 | SEUC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.30% | 0.36% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 0.95% | +1.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.11% | 1.08% | +2.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.47% | 1.35% | +3.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.68% | 2.15% | +2.53% |
IEAA.L vs. SEUC.L - Expense Ratio Comparison
Both IEAA.L and SEUC.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
IEAA.L vs. SEUC.L - Dividend Comparison
IEAA.L has not paid dividends to shareholders, while SEUC.L's dividend yield for the trailing twelve months is around 2.96%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SEUC.L SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF | 2.96% | 3.05% | 2.59% | 1.27% | 0.19% | 0.30% | 0.23% | 0.17% | 0.11% | 0.28% | 0.50% | 0.72% |
Frequently Asked Questions
IEAA.L and SEUC.L have a correlation of 0.67, 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.
IEAA.L and SEUC.L have the same expense ratio: 0.20% per year.
IEAA.L tracks Bloomberg Euro Corp TR EUR, while SEUC.L tracks Bloomberg Euro Agg Corp 1-3 Yr TR EUR. They also come from different issuers: iShares and State Street.
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