IRCP.L vs. XBLC.L
IRCP.L (iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist)) and XBLC.L (Xtrackers II EUR Corporate Bond UCITS ETF 1C) are both European Corporate Bonds funds - IRCP.L tracks the Bloomberg MSCI EUR Corporate Interest Rate Hedged ESG SRI Index while XBLC.L tracks the Bloomberg Euro Corp TR EUR. Both are passively managed. Over the past 5 years, IRCP.L returned 2.73%/yr vs -0.11%/yr for XBLC.L. At a 0.27 correlation, their price movements are largely independent. IRCP.L charges 0.25%/yr vs 0.12%/yr for XBLC.L.
Performance
IRCP.L vs. XBLC.L - Performance Comparison
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Returns By Period
In the year-to-date period, IRCP.L achieves a 1.43% return, which is significantly higher than XBLC.L's 0.42% return.
IRCP.L
- 1D
- -0.01%
- 1M
- 0.50%
- 6M
- 1.32%
- YTD
- 1.43%
- 1Y
- 3.03%
- 3Y*
- 5.13%
- 5Y*
- 2.73%
- 10Y*
- 1.57%
XBLC.L
- 1D
- -0.02%
- 1M
- -0.55%
- 6M
- 0.03%
- YTD
- 0.42%
- 1Y
- 1.29%
- 3Y*
- 4.22%
- 5Y*
- -0.11%
- 10Y*
- —
IRCP.L vs. XBLC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IRCP.L iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) | 1.43% | 4.21% | 6.47% | 5.14% | -2.74% | -0.24% | 0.84% | 4.00% | -3.63% | 0.40% |
XBLC.L Xtrackers II EUR Corporate Bond UCITS ETF 1C | 0.42% | 2.95% | 4.36% | 7.50% | -13.29% | -1.05% | 2.52% | 6.28% | -1.53% | 0.63% |
Correlation
The correlation between IRCP.L and XBLC.L is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2017 | 0.27 |
The correlation between IRCP.L and XBLC.L shifts across timeframes, from 0.12 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IRCP.L vs. XBLC.L — Risk / Return Rank
IRCP.L
XBLC.L
IRCP.L vs. XBLC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) (IRCP.L) and Xtrackers II EUR Corporate Bond UCITS ETF 1C (XBLC.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IRCP.L | XBLC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.08 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.94 | 0.48 | +2.46 |
| Martin ratioReturn relative to average drawdown | 12.04 | 1.62 | +10.42 |
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Drawdowns
IRCP.L vs. XBLC.L - Drawdown Comparison
The maximum IRCP.L drawdown since its inception was -14.44%, smaller than the maximum XBLC.L drawdown of -17.18%. Use the drawdown chart below to compare losses from any high point for IRCP.L and XBLC.L.
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Drawdown Indicators
| IRCP.L | XBLC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.44% | -17.18% | +2.74% |
Max Drawdown (1Y)Largest decline over 1 year | -1.03% | -2.67% | +1.64% |
Max Drawdown (3Y)Largest decline over 3 years | -1.96% | -2.67% | +0.71% |
Max Drawdown (5Y)Largest decline over 5 years | -7.06% | -17.18% | +10.12% |
Max Drawdown (10Y)Largest decline over 10 years | -14.44% | — | — |
Current DrawdownCurrent decline from peak | -0.19% | -1.18% | +0.99% |
Average DrawdownAverage peak-to-trough decline | -1.31% | -4.45% | +3.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.25% | 0.79% | -0.54% |
Volatility
IRCP.L vs. XBLC.L - Volatility Comparison
The current volatility for iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) (IRCP.L) is 0.60%, while Xtrackers II EUR Corporate Bond UCITS ETF 1C (XBLC.L) has a volatility of 0.77%. This indicates that IRCP.L experiences smaller price fluctuations and is considered to be less risky than XBLC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IRCP.L | XBLC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.60% | 0.77% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.45% | 2.72% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.67% | 3.05% | -0.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.96% | 4.39% | -1.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.79% | 4.68% | -0.89% |
IRCP.L vs. XBLC.L - Expense Ratio Comparison
IRCP.L has a 0.25% expense ratio, which is higher than XBLC.L's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IRCP.L vs. XBLC.L - Dividend Comparison
IRCP.L's dividend yield for the trailing twelve months is around 2.58%, while XBLC.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IRCP.L iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) | 2.58% | 2.91% | 3.70% | 2.52% | 0.43% | 0.70% | 0.82% | 0.92% | 0.58% | 0.71% | 1.35% | 1.47% |
XBLC.L Xtrackers II EUR Corporate Bond UCITS ETF 1C | 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
IRCP.L and XBLC.L have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XBLC.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XBLC.L is cheaper with a 0.12% expense ratio, compared with 0.25% for IRCP.L.
IRCP.L tracks Bloomberg MSCI EUR Corporate Interest Rate Hedged ESG SRI Index, while XBLC.L tracks Bloomberg Euro Corp TR EUR. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.25% for IRCP.L and 0.12% for XBLC.L.
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