IEBC.L vs. ISXF.L
IEBC.L (iShares Core Euro Corporate Bond UCITS ETF (Dist)) and ISXF.L (iShares GBP Corporate Bond ex-Financials UCITS ETF) are both European Corporate Bonds funds from iShares - IEBC.L tracks the Bloomberg Euro Corp TR EUR while ISXF.L tracks the Markit iBoxx GBP NonGilts TR. Both are passively managed. Over the past 10 years, IEBC.L returned 2.30%/yr vs 1.39%/yr for ISXF.L. At a 0.35 correlation, their price movements are largely independent. Both charge a 0.20% expense ratio.
Performance
IEBC.L vs. ISXF.L - Performance Comparison
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Returns By Period
In the year-to-date period, IEBC.L achieves a -0.13% return, which is significantly higher than ISXF.L's -0.58% return. Over the past 10 years, IEBC.L has outperformed ISXF.L with an annualized return of 2.30%, while ISXF.L has yielded a comparatively lower 1.39% 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%
ISXF.L
- 1D
- 0.33%
- 1M
- 2.17%
- YTD
- -0.58%
- 6M
- -0.21%
- 1Y
- 4.58%
- 3Y*
- 5.20%
- 5Y*
- -1.41%
- 10Y*
- 1.39%
IEBC.L vs. ISXF.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% |
ISXF.L iShares GBP Corporate Bond ex-Financials UCITS ETF | -0.58% | 6.93% | -0.18% | 8.72% | -19.96% | -4.01% | 8.54% | 11.27% | -2.05% | 3.40% |
Correlation
The correlation between IEBC.L and ISXF.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2009 | 0.35 |
The correlation between IEBC.L and ISXF.L shifts across timeframes, from 0.35 (all time) to 0.49 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IEBC.L vs. ISXF.L — Risk / Return Rank
IEBC.L
ISXF.L
IEBC.L vs. ISXF.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 GBP Corporate Bond ex-Financials UCITS ETF (ISXF.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 | ISXF.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.15 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 0.97 | +0.39 |
| Martin ratioReturn relative to average drawdown | 3.53 | 2.74 | +0.80 |
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 | ISXF.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | 0.79 | +0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | -0.18 | +0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | 0.19 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.54 | -0.10 |
Drawdowns
IEBC.L vs. ISXF.L - Drawdown Comparison
The maximum IEBC.L drawdown since its inception was -21.31%, smaller than the maximum ISXF.L drawdown of -32.38%. Use the drawdown chart below to compare losses from any high point for IEBC.L and ISXF.L.
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Drawdown Indicators
| IEBC.L | ISXF.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.31% | -32.38% | +11.07% |
Max Drawdown (1Y)Largest decline over 1 year | -3.92% | -4.73% | +0.81% |
Max Drawdown (3Y)Largest decline over 3 years | -3.92% | -4.73% | +0.81% |
Max Drawdown (5Y)Largest decline over 5 years | -16.80% | -31.23% | +14.43% |
Max Drawdown (10Y)Largest decline over 10 years | -21.31% | -32.38% | +11.07% |
Current DrawdownCurrent decline from peak | -3.97% | -11.65% | +7.68% |
Average DrawdownAverage peak-to-trough decline | -6.66% | -6.57% | -0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.51% | 1.67% | -0.16% |
Volatility
IEBC.L vs. ISXF.L - Volatility Comparison
The current volatility for iShares Core Euro Corporate Bond UCITS ETF (Dist) (IEBC.L) is 1.37%, while iShares GBP Corporate Bond ex-Financials UCITS ETF (ISXF.L) has a volatility of 2.43%. This indicates that IEBC.L experiences smaller price fluctuations and is considered to be less risky than ISXF.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 | ISXF.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.37% | 2.43% | -1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.62% | 5.10% | -1.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.73% | 5.77% | -1.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.19% | 7.92% | -1.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.65% | 7.28% | +0.37% |
IEBC.L vs. ISXF.L - Expense Ratio Comparison
Both IEBC.L and ISXF.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. ISXF.L - Dividend Comparison
IEBC.L's dividend yield for the trailing twelve months is around 3.85%, less than ISXF.L's 4.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ISXF.L iShares GBP Corporate Bond ex-Financials UCITS ETF | 4.54% | 4.23% | 3.97% | 3.15% | 2.93% | 2.31% | 2.30% | 2.66% | 2.87% | 2.87% | 3.48% | 1.95% |
Frequently Asked Questions
IEBC.L and ISXF.L have a correlation of 0.40, 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 ISXF.L have the same expense ratio: 0.20% per year.
IEBC.L tracks Bloomberg Euro Corp TR EUR, while ISXF.L tracks Markit iBoxx GBP NonGilts TR.
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