IEF vs. SDEU.L
IEF (iShares 7-10 Year Treasury Bond ETF) and SDEU.L (iShares Germany Government Bond UCITS ETF (Dist)) are both exchange-traded funds - IEF is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while SDEU.L is a European Government Bonds fund tracking the Bloomberg Euro Agg Govt TR EUR. Both are passively managed. Over the past 10 years, IEF returned 0.53%/yr vs -1.13%/yr for SDEU.L. At a 0.45 correlation, their price movements are largely independent. IEF charges 0.15%/yr vs 0.20%/yr for SDEU.L.
Performance
IEF vs. SDEU.L - Performance Comparison
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Different Trading Currencies
IEF is traded in USD, while SDEU.L is traded in GBP. To make them comparable, the SDEU.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IEF achieves a -1.16% return, which is significantly higher than SDEU.L's -2.22% return. Over the past 10 years, IEF has outperformed SDEU.L with an annualized return of 0.53%, while SDEU.L has yielded a comparatively lower -1.13% annualized return.
IEF
- 1D
- -0.11%
- 1M
- -1.19%
- YTD
- -1.16%
- 6M
- -0.96%
- 1Y
- 3.91%
- 3Y*
- 2.43%
- 5Y*
- -1.34%
- 10Y*
- 0.53%
SDEU.L
- 1D
- 0.12%
- 1M
- -2.24%
- YTD
- -2.22%
- 6M
- -0.83%
- 1Y
- -0.16%
- 3Y*
- 3.14%
- 5Y*
- -4.21%
- 10Y*
- -1.13%
IEF vs. SDEU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEF iShares 7-10 Year Treasury Bond ETF | -1.16% | 8.03% | -0.63% | 3.64% | -15.15% | -3.33% | 10.01% | 8.03% | 0.99% | 2.55% |
SDEU.L iShares Germany Government Bond UCITS ETF (Dist) | -2.22% | 11.34% | -5.80% | 8.51% | -22.46% | -9.88% | 11.78% | 1.74% | -2.72% | 11.56% |
Correlation
The correlation between IEF and SDEU.L is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since May 9, 2012 | 0.45 |
The correlation between IEF and SDEU.L shifts across timeframes, from 0.45 (all time) to 0.61 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IEF vs. SDEU.L — Risk / Return Rank
IEF
SDEU.L
IEF vs. SDEU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 7-10 Year Treasury Bond ETF (IEF) and iShares Germany Government Bond UCITS ETF (Dist) (SDEU.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.
| IEF | SDEU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.86 | ||
| Sortino ratioReturn per unit of downside risk | +1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.00 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.96 | -0.03 | +0.99 |
| Martin ratioReturn relative to average drawdown | 2.79 | -0.06 | +2.85 |
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
| IEF | SDEU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | -0.02 | +0.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.17 | -0.42 | +0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.08 | -0.12 | +0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | -0.22 | +0.71 |
Drawdowns
IEF vs. SDEU.L - Drawdown Comparison
The maximum IEF drawdown since its inception was -23.93%, smaller than the maximum SDEU.L drawdown of -41.52%. Use the drawdown chart below to compare losses from any high point for IEF and SDEU.L.
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Drawdown Indicators
| IEF | SDEU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.93% | -41.52% | +17.59% |
Max Drawdown (1Y)Largest decline over 1 year | -4.07% | -5.67% | +1.60% |
Max Drawdown (3Y)Largest decline over 3 years | -7.74% | -10.32% | +2.58% |
Max Drawdown (5Y)Largest decline over 5 years | -21.40% | -34.26% | +12.86% |
Max Drawdown (10Y)Largest decline over 10 years | -23.93% | -37.02% | +13.09% |
Current DrawdownCurrent decline from peak | -11.80% | -28.28% | +16.48% |
Average DrawdownAverage peak-to-trough decline | -5.35% | -22.07% | +16.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.40% | 2.49% | -1.09% |
Volatility
IEF vs. SDEU.L - Volatility Comparison
The current volatility for iShares 7-10 Year Treasury Bond ETF (IEF) is 1.51%, while iShares Germany Government Bond UCITS ETF (Dist) (SDEU.L) has a volatility of 2.39%. This indicates that IEF experiences smaller price fluctuations and is considered to be less risky than SDEU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEF | SDEU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.51% | 2.39% | -0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 3.36% | 5.97% | -2.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.69% | 8.05% | -3.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.71% | 10.12% | -2.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.63% | 9.32% | -2.69% |
IEF vs. SDEU.L - Expense Ratio Comparison
IEF has a 0.15% expense ratio, which is lower than SDEU.L's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IEF vs. SDEU.L - Dividend Comparison
IEF's dividend yield for the trailing twelve months is around 3.92%, more than SDEU.L's 2.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEF iShares 7-10 Year Treasury Bond ETF | 3.92% | 3.77% | 3.62% | 2.91% | 1.96% | 0.83% | 1.08% | 2.08% | 2.24% | 1.82% | 1.81% | 1.90% |
SDEU.L iShares Germany Government Bond UCITS ETF (Dist) | 2.19% | 2.16% | 2.14% | 0.18% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.34% |
Frequently Asked Questions
IEF and SDEU.L have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEF is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEF is cheaper with a 0.15% expense ratio, compared with 0.20% for SDEU.L.
IEF is categorized as Government Bonds, while SDEU.L is European Government Bonds. IEF tracks ICE U.S. Treasury 7-10 Year Bond Index, while SDEU.L tracks Bloomberg Euro Agg Govt TR EUR. Their fees differ too: 0.15% for IEF and 0.20% for SDEU.L.
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