IGCB.L vs. SE15.L

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco GBP Corporate Bond UCITS ETF Dist (IGCB.L) and iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist) (SE15.L).

IGCB.L and SE15.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IGCB.L is a passively managed fund by Invesco that tracks the performance of the Markit iBoxx GBP NonGilts TR. It was launched on Mar 5, 2020. SE15.L is a passively managed fund by iShares that tracks the performance of the Bloomberg Euro Agg Corp 1-3 Yr TR EUR. It was launched on Sep 25, 2009. Both IGCB.L and SE15.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IGCB.L vs. SE15.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco GBP Corporate Bond UCITS ETF Dist (IGCB.L) and iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist) (SE15.L). The values are adjusted to include any dividend payments, if applicable.

IGCB.L vs. SE15.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
IGCB.L Invesco GBP Corporate Bond UCITS ETF Dist	-1.36%	6.83%	1.93%	9.20%	-18.57%	-4.00%	8.69%
SE15.L iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist)	-0.57%	9.40%	0.01%	4.04%	-2.64%	-6.64%	4.96%

Different Trading Currencies

IGCB.L is traded in GBp, while SE15.L is traded in GBP. To make them comparable, the SE15.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, IGCB.L achieves a -1.36% return, which is significantly lower than SE15.L's -0.57% return.

IGCB.L

• 1D: 0.68%
• 1M: -1.94%
• YTD: -1.36%
• 6M: 0.92%
• 1Y: 5.26%
• 3Y*: 4.80%
• 5Y*: -0.75%
• 10Y*: —

SE15.L

• 1D: 0.15%
• 1M: -1.36%
• YTD: -0.57%
• 6M: 0.22%
• 1Y: 6.82%
• 3Y*: 4.20%
• 5Y*: 1.65%
• 10Y*: 1.98%

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

IGCB.L vs. SE15.L - Expense Ratio Comparison

IGCB.L has a 0.10% expense ratio, which is lower than SE15.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%.

SE15.L

iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist)

IGCB.L

Invesco GBP Corporate Bond UCITS ETF Dist

Return for Risk

IGCB.L vs. SE15.L — Risk / Return Rank

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

IGCB.L

IGCB.L Risk / Return Rank: 42
IGCB.L Sharpe Ratio Rank: 43
IGCB.L Sortino Ratio Rank: 39
IGCB.L Omega Ratio Rank: 37
IGCB.L Calmar Ratio Rank: 44
IGCB.L Martin Ratio Rank: 48

SE15.L

SE15.L Risk / Return Rank: 69
SE15.L Sharpe Ratio Rank: 75
SE15.L Sortino Ratio Rank: 80
SE15.L Omega Ratio Rank: 66
SE15.L Calmar Ratio Rank: 71
SE15.L Martin Ratio Rank: 51

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.

IGCB.L vs. SE15.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco GBP Corporate Bond UCITS ETF Dist (IGCB.L) and iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist) (SE15.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.

	IGCB.L	SE15.L	Difference
Sharpe ratio Return per unit of total volatility	0.85	1.43	-0.58
Sortino ratio Return per unit of downside risk	1.18	2.18	-1.00
Omega ratio Gain probability vs. loss probability	1.16	1.26	-0.10
Calmar ratio Return relative to maximum drawdown	1.27	2.07	-0.80
Martin ratio Return relative to average drawdown	5.07	5.61	-0.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGCB.L vs. SE15.L - Sharpe Ratio Comparison

The current IGCB.L Sharpe Ratio is 0.85, which is lower than the SE15.L Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of IGCB.L and SE15.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IGCB.L	SE15.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.85	1.43	-0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	0.30	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.28	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	0.25	-0.25

Correlation

The correlation between IGCB.L and SE15.L is 0.26, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

IGCB.L vs. SE15.L - Dividend Comparison

IGCB.L's dividend yield for the trailing twelve months is around 5.33%, more than SE15.L's 3.52% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGCB.L Invesco GBP Corporate Bond UCITS ETF Dist	5.33%	5.18%	5.18%	4.26%	2.54%	1.74%	1.22%	0.00%	0.00%	0.00%	0.00%	0.00%
SE15.L iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist)	3.52%	3.34%	3.02%	1.62%	0.58%	0.68%	0.66%	0.73%	0.69%	0.77%	1.05%	0.77%

Drawdowns

IGCB.L vs. SE15.L - Drawdown Comparison

The maximum IGCB.L drawdown since its inception was -30.44%, which is greater than SE15.L's maximum drawdown of -15.78%. Use the drawdown chart below to compare losses from any high point for IGCB.L and SE15.L.

Drawdown Indicators

	IGCB.L	SE15.L	Difference
Max Drawdown Largest peak-to-trough decline	-30.44%	-15.78%	-14.66%
Max Drawdown (1Y) Largest decline over 1 year	-4.00%	-3.25%	-0.75%
Max Drawdown (5Y) Largest decline over 5 years	-29.39%	-10.52%	-18.87%
Max Drawdown (10Y) Largest decline over 10 years	—	-15.55%	—
Current Drawdown Current decline from peak	-8.57%	-2.07%	-6.50%
Average Drawdown Average peak-to-trough decline	-11.39%	-6.37%	-5.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.01%	1.20%	-0.19%

Volatility

IGCB.L vs. SE15.L - Volatility Comparison

Invesco GBP Corporate Bond UCITS ETF Dist (IGCB.L) has a higher volatility of 2.91% compared to iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist) (SE15.L) at 1.53%. This indicates that IGCB.L's price experiences larger fluctuations and is considered to be riskier than SE15.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGCB.L	SE15.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.91%	1.53%	+1.38%
Volatility (6M) Calculated over the trailing 6-month period	4.36%	3.14%	+1.22%
Volatility (1Y) Calculated over the trailing 1-year period	6.18%	4.76%	+1.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.55%	5.55%	+2.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.73%	7.16%	+0.57%