IEBC.L vs. IBCX.L
IEBC.L (iShares Core Euro Corporate Bond UCITS ETF (Dist)) and IBCX.L (iShares Euro Corporate Bond Large Cap UCITS ETF) are both European Corporate Bonds funds from iShares tracking the Bloomberg Euro Corp TR EUR. Both are passively managed. Over the past 10 years, IEBC.L returned 2.30%/yr vs 1.71%/yr for IBCX.L. A 0.74 correlation means they provide meaningful diversification when combined. Both charge a 0.20% expense ratio.
Performance
IEBC.L vs. IBCX.L - Performance Comparison
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Different Trading Currencies
IEBC.L is traded in GBP, while IBCX.L is traded in EUR. To make them comparable, the IBCX.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, IEBC.L achieves a -0.13% return, which is significantly higher than IBCX.L's -0.25% return. Over the past 10 years, IEBC.L has outperformed IBCX.L with an annualized return of 2.30%, while IBCX.L has yielded a comparatively lower 1.71% annualized return.
IEBC.L
- 1D
- 0.26%
- 1M
- 1.06%
- YTD
- -0.13%
- 6M
- -0.18%
- 1Y
- 5.35%
- 3Y*
- 5.31%
- 5Y*
- 0.63%
- 10Y*
- 2.30%
IBCX.L
- 1D
- 0.19%
- 1M
- 0.99%
- YTD
- -0.25%
- 6M
- -0.53%
- 1Y
- 4.58%
- 3Y*
- 4.43%
- 5Y*
- -0.11%
- 10Y*
- 1.71%
IEBC.L vs. IBCX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEBC.L iShares Core Euro Corporate Bond UCITS ETF (Dist) | -0.13% | 9.43% | -0.07% | 5.85% | -8.39% | -7.87% | 8.96% | 1.12% | -0.45% | 5.98% |
IBCX.L iShares Euro Corporate Bond Large Cap UCITS ETF | -0.25% | 8.66% | -1.22% | 5.19% | -9.50% | -7.33% | 8.64% | 0.03% | -0.30% | 5.94% |
Correlation
The correlation between IEBC.L and IBCX.L is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2009 | 0.74 |
The correlation between IEBC.L and IBCX.L shifts across timeframes, from 0.74 (all time) to 0.87 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IEBC.L vs. IBCX.L — Risk / Return Rank
IEBC.L
IBCX.L
IEBC.L vs. IBCX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Euro Corporate Bond UCITS ETF (Dist) (IEBC.L) and iShares Euro Corporate Bond Large Cap UCITS ETF (IBCX.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.
| IEBC.L | IBCX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.16 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 1.21 | +0.15 |
| Martin ratioReturn relative to average drawdown | 3.53 | 3.16 | +0.37 |
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
| IEBC.L | IBCX.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | 0.93 | +0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | -0.02 | +0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | 0.22 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.41 | +0.02 |
Drawdowns
IEBC.L vs. IBCX.L - Drawdown Comparison
The maximum IEBC.L drawdown since its inception was -21.31%, roughly equal to the maximum IBCX.L drawdown of -22.27%. Use the drawdown chart below to compare losses from any high point for IEBC.L and IBCX.L.
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Drawdown Indicators
| IEBC.L | IBCX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.31% | -22.27% | +0.96% |
Max Drawdown (1Y)Largest decline over 1 year | -3.92% | -3.77% | -0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -3.92% | -4.03% | +0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -16.80% | -17.46% | +0.66% |
Max Drawdown (10Y)Largest decline over 10 years | -21.31% | -22.27% | +0.96% |
Current DrawdownCurrent decline from peak | -3.97% | -7.87% | +3.90% |
Average DrawdownAverage peak-to-trough decline | -6.66% | -6.89% | +0.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.51% | 1.45% | +0.06% |
Volatility
IEBC.L vs. IBCX.L - Volatility Comparison
The current volatility for iShares Core Euro Corporate Bond UCITS ETF (Dist) (IEBC.L) is 1.37%, while iShares Euro Corporate Bond Large Cap UCITS ETF (IBCX.L) has a volatility of 1.52%. This indicates that IEBC.L experiences smaller price fluctuations and is considered to be less risky than IBCX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEBC.L | IBCX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.37% | 1.52% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 3.62% | 3.74% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.73% | 4.92% | -0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.19% | 6.47% | -0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.65% | 7.83% | -0.18% |
IEBC.L vs. IBCX.L - Expense Ratio Comparison
Both IEBC.L and IBCX.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
IEBC.L vs. IBCX.L - Dividend Comparison
IEBC.L's dividend yield for the trailing twelve months is around 3.85%, more than IBCX.L's 3.07% 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% |
IEBC.L iShares Core Euro Corporate Bond UCITS ETF (Dist) | 3.85% | 3.76% | 4.10% | 2.89% | 0.94% | 0.97% | 0.93% | 1.30% | 1.09% | 1.72% | 1.94% | 1.22% |
Frequently Asked Questions
IEBC.L and IBCX.L have a correlation of 0.87, 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.
IEBC.L and IBCX.L have the same expense ratio: 0.20% per year.
Both ETFs track Bloomberg Euro Corp TR EUR.
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