IS0M.DE vs. VGEB.DE
IS0M.DE (iShares Italy Government Bond UCITS ETF EUR Dist) and VGEB.DE (Vanguard EUR Eurozone Government Bond UCITS ETF Distributing) are both European Government Bonds funds - IS0M.DE tracks the Bloomberg Italy Treasury Bond while VGEB.DE tracks the Bloomberg Euro Aggregate Treasury. Both are passively managed. Over the past 5 years, IS0M.DE returned -0.79%/yr vs -2.17%/yr for VGEB.DE. Their correlation of 0.86 suggests significant overlap in exposure. IS0M.DE charges 0.20%/yr vs 0.07%/yr for VGEB.DE.
Performance
IS0M.DE vs. VGEB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS0M.DE achieves a -0.32% return, which is significantly lower than VGEB.DE's 0.13% return.
IS0M.DE
- 1D
- 0.01%
- 1M
- 0.82%
- YTD
- -0.32%
- 6M
- -0.34%
- 1Y
- 0.84%
- 3Y*
- 4.15%
- 5Y*
- -0.79%
- 10Y*
- 0.92%
VGEB.DE
- 1D
- 0.03%
- 1M
- 0.64%
- YTD
- 0.13%
- 6M
- 0.07%
- 1Y
- -0.09%
- 3Y*
- 2.38%
- 5Y*
- -2.17%
- 10Y*
- —
IS0M.DE vs. VGEB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IS0M.DE iShares Italy Government Bond UCITS ETF EUR Dist | -0.32% | 3.07% | 4.66% | 9.14% | -17.24% | -2.99% | 7.54% | 10.45% | -1.48% | -0.37% |
VGEB.DE Vanguard EUR Eurozone Government Bond UCITS ETF Distributing | 0.13% | 0.69% | 1.55% | 6.99% | -18.10% | -3.26% | 4.75% | 7.05% | 1.21% | -0.03% |
Correlation
The correlation between IS0M.DE and VGEB.DE is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.86 |
The correlation between IS0M.DE and VGEB.DE has been stable across timeframes, ranging from 0.86 to 0.94 - a consistent structural relationship.
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Return for Risk
IS0M.DE vs. VGEB.DE — Risk / Return Rank
IS0M.DE
VGEB.DE
IS0M.DE vs. VGEB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Italy Government Bond UCITS ETF EUR Dist (IS0M.DE) and Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VGEB.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.
| IS0M.DE | VGEB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.00 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | -0.03 | +0.22 |
| Martin ratioReturn relative to average drawdown | 0.58 | -0.06 | +0.65 |
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
| IS0M.DE | VGEB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.17 | -0.02 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.11 | -0.34 | +0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.14 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | -0.03 | +0.52 |
Drawdowns
IS0M.DE vs. VGEB.DE - Drawdown Comparison
The maximum IS0M.DE drawdown since its inception was -21.08%, roughly equal to the maximum VGEB.DE drawdown of -22.15%. Use the drawdown chart below to compare losses from any high point for IS0M.DE and VGEB.DE.
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Drawdown Indicators
| IS0M.DE | VGEB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.08% | -22.15% | +1.07% |
Max Drawdown (1Y)Largest decline over 1 year | -4.28% | -3.43% | -0.85% |
Max Drawdown (3Y)Largest decline over 3 years | -4.42% | -4.05% | -0.37% |
Max Drawdown (5Y)Largest decline over 5 years | -20.85% | -21.25% | +0.40% |
Max Drawdown (10Y)Largest decline over 10 years | -21.08% | — | — |
Current DrawdownCurrent decline from peak | -6.33% | -13.65% | +7.32% |
Average DrawdownAverage peak-to-trough decline | -5.53% | -8.83% | +3.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.43% | 1.35% | +0.08% |
Volatility
IS0M.DE vs. VGEB.DE - Volatility Comparison
iShares Italy Government Bond UCITS ETF EUR Dist (IS0M.DE) has a higher volatility of 1.99% compared to Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VGEB.DE) at 1.63%. This indicates that IS0M.DE's price experiences larger fluctuations and is considered to be riskier than VGEB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IS0M.DE | VGEB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 1.63% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 4.25% | 3.47% | +0.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.84% | 4.16% | +0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.80% | 6.32% | +0.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.73% | 5.52% | +1.21% |
IS0M.DE vs. VGEB.DE - Expense Ratio Comparison
IS0M.DE has a 0.20% expense ratio, which is higher than VGEB.DE's 0.07% 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
IS0M.DE vs. VGEB.DE - Dividend Comparison
IS0M.DE's dividend yield for the trailing twelve months is around 2.83%, less than VGEB.DE's 2.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS0M.DE iShares Italy Government Bond UCITS ETF EUR Dist | 2.83% | 2.82% | 2.66% | 2.10% | 1.05% | 0.74% | 0.98% | 1.45% | 1.37% | 1.37% | 1.47% | 1.83% |
VGEB.DE Vanguard EUR Eurozone Government Bond UCITS ETF Distributing | 2.89% | 2.88% | 2.56% | 1.96% | 0.66% | 0.08% | 0.19% | 0.74% | 0.80% | 0.09% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, IS0M.DE and VGEB.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, VGEB.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEB.DE is cheaper with a 0.07% expense ratio, compared with 0.20% for IS0M.DE.
IS0M.DE tracks Bloomberg Italy Treasury Bond, while VGEB.DE tracks Bloomberg Euro Aggregate Treasury. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.20% for IS0M.DE and 0.07% for VGEB.DE.
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