IG35.DE vs. COVR.DE

Last updated Jun 5, 2026

IG35.DE (iShares iBonds December 2035 Term EUR Corporate UCITS ETF (Acc)) and COVR.DE (PIMCO Covered Bond UCITS ETF Dist) are both European Corporate Bonds funds - IG35.DE tracks the Bloomberg MSCI December 2035 Maturity EUR Corporate ESG Screened Index while COVR.DE tracks the PIMCO Covered Bond. Both are passively managed. A 0.73 correlation means they provide meaningful diversification when combined. IG35.DE charges 0.12%/yr vs 0.43%/yr for COVR.DE.

Performance

IG35.DE vs. COVR.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares iBonds December 2035 Term EUR Corporate UCITS ETF (Acc) (IG35.DE) and PIMCO Covered Bond UCITS ETF Dist (COVR.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IG35.DE achieves a 0.90% return, which is significantly higher than COVR.DE's -0.22% return.

IG35.DE

• 1D: 0.25%
• 1M: 1.23%
• YTD: 0.90%
• 6M: 0.47%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

COVR.DE

• 1D: -0.00%
• 1M: 0.44%
• YTD: -0.22%
• 6M: -0.48%
• 1Y: 0.65%
• 3Y*: 3.61%
• 5Y*: -0.49%
• 10Y*: 0.53%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IG35.DE vs. COVR.DE - Yearly Performance Comparison

	2026 (YTD)	2025
IG35.DE iShares iBonds December 2035 Term EUR Corporate UCITS ETF (Acc)	0.90%	-0.54%
COVR.DE PIMCO Covered Bond UCITS ETF Dist	-0.22%	-0.34%

Correlation

The correlation between IG35.DE and COVR.DE is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 15, 2025	0.73

Return for Risk

IG35.DE vs. COVR.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

COVR.DE

COVR.DE Risk / Return Rank: 12
COVR.DE Sharpe Ratio Rank: 13
COVR.DE Sortino Ratio Rank: 11
COVR.DE Omega Ratio Rank: 12
COVR.DE Calmar Ratio Rank: 12
COVR.DE Martin Ratio Rank: 12

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IG35.DE vs. COVR.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds December 2035 Term EUR Corporate UCITS ETF (Acc) (IG35.DE) and PIMCO Covered Bond UCITS ETF Dist (COVR.DE). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IG35.DE	COVR.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.26	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.13	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.18	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.21	-0.10

Drawdowns

IG35.DE vs. COVR.DE - Drawdown Comparison

The maximum IG35.DE drawdown since its inception was -4.08%, smaller than the maximum COVR.DE drawdown of -16.36%. Use the drawdown chart below to compare losses from any high point for IG35.DE and COVR.DE.

Drawdown Indicators

	IG35.DE	COVR.DE	Difference
Max Drawdown Largest peak-to-trough decline	-4.08%	-16.36%	+12.28%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.85%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-2.85%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.69%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-16.36%	—
Current Drawdown Current decline from peak	-1.08%	-4.21%	+3.13%
Average Drawdown Average peak-to-trough decline	-1.38%	-4.10%	+2.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.00%	—

Volatility

Volatility by Period

	IG35.DE	COVR.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.92%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.11%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.22%	2.48%	+2.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.22%	3.77%	+1.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.22%	2.98%	+2.24%

IG35.DE vs. COVR.DE - Expense Ratio Comparison

IG35.DE has a 0.12% expense ratio, which is lower than COVR.DE's 0.43% expense ratio.

Dividends

IG35.DE vs. COVR.DE - Dividend Comparison

IG35.DE has not paid dividends to shareholders, while COVR.DE's dividend yield for the trailing twelve months is around 2.49%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COVR.DE PIMCO Covered Bond UCITS ETF Dist	2.49%	2.43%	1.66%	0.56%	0.00%	0.00%	0.42%	1.20%	0.78%	0.57%	0.74%	0.86%
IG35.DE iShares iBonds December 2035 Term EUR Corporate 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%

Frequently Asked Questions

Can I hold both IG35.DE and COVR.DE in my portfolio?

IG35.DE and COVR.DE have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IG35.DE or COVR.DE?

On fees, IG35.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IG35.DE or COVR.DE?

IG35.DE is cheaper with a 0.12% expense ratio, compared with 0.43% for COVR.DE.

What is the main difference between IG35.DE and COVR.DE?

IG35.DE tracks Bloomberg MSCI December 2035 Maturity EUR Corporate ESG Screened Index, while COVR.DE tracks PIMCO Covered Bond. They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.12% for IG35.DE and 0.43% for COVR.DE.