IS0L.DE vs. IUSB
IS0L.DE (iShares Germany Government Bond UCITS ETF (Dist)) and IUSB (iShares Core Universal USD Bond ETF) are both exchange-traded funds - IS0L.DE is a European Government Bonds fund tracking the Bloomberg Euro Treasury Germany, while IUSB is a Intermediate Core-Plus Bond fund tracking the Bloomberg U.S. Universal Index. Both are passively managed. Over the past 10 years, IS0L.DE returned -1.31%/yr vs 1.75%/yr for IUSB. At a 0.34 correlation, their price movements are largely independent. IS0L.DE charges 0.20%/yr vs 0.06%/yr for IUSB.
Performance
IS0L.DE vs. IUSB - Performance Comparison
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Different Trading Currencies
IS0L.DE is traded in EUR, while IUSB is traded in USD. To make them comparable, the IUSB values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IS0L.DE achieves a -0.09% return, which is significantly lower than IUSB's 1.71% return. Over the past 10 years, IS0L.DE has underperformed IUSB with an annualized return of -1.31%, while IUSB has yielded a comparatively higher 1.75% annualized return.
IS0L.DE
- 1D
- 0.09%
- 1M
- 0.49%
- YTD
- -0.09%
- 6M
- -0.46%
- 1Y
- -1.42%
- 3Y*
- 0.83%
- 5Y*
- -3.06%
- 10Y*
- -1.31%
IUSB
- 1D
- -0.01%
- 1M
- 0.93%
- YTD
- 1.71%
- 6M
- 0.90%
- 1Y
- 3.29%
- 3Y*
- 1.78%
- 5Y*
- 1.40%
- 10Y*
- 1.75%
IS0L.DE vs. IUSB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IS0L.DE iShares Germany Government Bond UCITS ETF (Dist) | -0.09% | -1.50% | 0.13% | 5.16% | -17.86% | -2.55% | 2.69% | 2.82% | 2.31% | -1.63% |
IUSB iShares Core Universal USD Bond ETF | 1.71% | -5.36% | 8.85% | 3.05% | -7.65% | 6.05% | -1.25% | 11.60% | 4.41% | -8.94% |
Correlation
The correlation between IS0L.DE and IUSB is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2014 | 0.34 |
Over the past year, the correlation between IS0L.DE and IUSB has dropped to 0.08 - well below their long-term average of 0.34, suggesting their price drivers have been diverging.
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Return for Risk
IS0L.DE vs. IUSB — Risk / Return Rank
IS0L.DE
IUSB
IS0L.DE vs. IUSB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Germany Government Bond UCITS ETF (Dist) (IS0L.DE) and iShares Core Universal USD Bond ETF (IUSB). 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.
| IS0L.DE | IUSB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.39 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.11 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 0.82 | -1.31 |
| Martin ratioReturn relative to average drawdown | -1.02 | 2.47 | -3.49 |
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
| IS0L.DE | IUSB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.40 | 0.57 | -0.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.50 | 0.18 | -0.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.25 | 0.23 | -0.48 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.03 | 0.43 | -0.46 |
Drawdowns
IS0L.DE vs. IUSB - Drawdown Comparison
The maximum IS0L.DE drawdown since its inception was -23.96%, which is greater than IUSB's maximum drawdown of -15.33%. Use the drawdown chart below to compare losses from any high point for IS0L.DE and IUSB.
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Drawdown Indicators
| IS0L.DE | IUSB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.96% | -15.33% | -8.63% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -4.00% | +1.07% |
Max Drawdown (3Y)Largest decline over 3 years | -4.96% | -11.12% | +6.16% |
Max Drawdown (5Y)Largest decline over 5 years | -21.24% | -11.78% | -9.46% |
Max Drawdown (10Y)Largest decline over 10 years | -23.96% | -15.33% | -8.63% |
Current DrawdownCurrent decline from peak | -19.49% | -6.05% | -13.44% |
Average DrawdownAverage peak-to-trough decline | -7.79% | -5.37% | -2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 1.38% | +0.01% |
Volatility
IS0L.DE vs. IUSB - Volatility Comparison
iShares Germany Government Bond UCITS ETF (Dist) (IS0L.DE) has a higher volatility of 1.37% compared to iShares Core Universal USD Bond ETF (IUSB) at 0.88%. This indicates that IS0L.DE's price experiences larger fluctuations and is considered to be riskier than IUSB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IS0L.DE | IUSB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.37% | 0.88% | +0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 2.74% | 4.26% | -1.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.54% | 5.76% | -2.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.10% | 7.92% | -1.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.27% | 7.69% | -2.42% |
IS0L.DE vs. IUSB - Expense Ratio Comparison
IS0L.DE has a 0.20% expense ratio, which is higher than IUSB's 0.06% 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
IS0L.DE vs. IUSB - Dividend Comparison
IS0L.DE's dividend yield for the trailing twelve months is around 2.19%, less than IUSB's 4.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS0L.DE iShares Germany Government Bond UCITS ETF (Dist) | 2.19% | 2.19% | 2.13% | 0.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.35% |
IUSB iShares Core Universal USD Bond ETF | 4.23% | 4.17% | 4.04% | 3.46% | 2.53% | 1.74% | 2.68% | 3.04% | 2.98% | 2.56% | 2.60% | 1.95% |
Frequently Asked Questions
IS0L.DE and IUSB have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUSB is cheaper at 0.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUSB is cheaper with a 0.06% expense ratio, compared with 0.20% for IS0L.DE.
IS0L.DE is categorized as European Government Bonds, while IUSB is Intermediate Core-Plus Bond. IS0L.DE tracks Bloomberg Euro Treasury Germany, while IUSB tracks Bloomberg U.S. Universal Index. Their fees differ too: 0.20% for IS0L.DE and 0.06% for IUSB.
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