IS0P.DE vs. EXHB.DE
IS0P.DE (iShares Spain Government Bond UCITS ETF Dist) and EXHB.DE (iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE)) are both European Government Bonds funds from iShares - IS0P.DE tracks the Bloomberg Spain Treasury Bond while EXHB.DE tracks the eb.rexx® Government Germany 1.5-2.5. Both are passively managed. Over the past 10 years, IS0P.DE returned 0.26%/yr vs -0.26%/yr for EXHB.DE. At a 0.42 correlation, their price movements are largely independent. IS0P.DE charges 0.20%/yr vs 0.16%/yr for EXHB.DE.
Performance
IS0P.DE vs. EXHB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS0P.DE achieves a -0.28% return, which is significantly lower than EXHB.DE's 0.14% return. Over the past 10 years, IS0P.DE has outperformed EXHB.DE with an annualized return of 0.26%, while EXHB.DE has yielded a comparatively lower -0.26% annualized return.
IS0P.DE
- 1D
- -0.01%
- 1M
- -0.70%
- 6M
- -0.53%
- YTD
- -0.28%
- 1Y
- 1.28%
- 3Y*
- 3.21%
- 5Y*
- -1.97%
- 10Y*
- 0.26%
EXHB.DE
- 1D
- 0.03%
- 1M
- -0.09%
- 6M
- -0.13%
- YTD
- 0.14%
- 1Y
- 0.49%
- 3Y*
- 2.26%
- 5Y*
- 0.25%
- 10Y*
- -0.26%
IS0P.DE vs. EXHB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IS0P.DE iShares Spain Government Bond UCITS ETF Dist | -0.28% | 1.84% | 2.83% | 6.58% | -17.73% | -3.10% | 3.98% | 8.51% | 2.38% | 0.56% |
EXHB.DE iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) | 0.14% | 1.66% | 2.55% | 2.59% | -5.04% | -0.96% | -0.80% | -0.87% | -0.45% | -1.07% |
Correlation
The correlation between IS0P.DE and EXHB.DE is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since May 8, 2012 | 0.42 |
Over the past year, IS0P.DE and EXHB.DE have become more correlated (0.68) than their long-term average of 0.42, meaning their price movements have been converging.
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Return for Risk
IS0P.DE vs. EXHB.DE — Risk / Return Rank
IS0P.DE
EXHB.DE
IS0P.DE vs. EXHB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Spain Government Bond UCITS ETF Dist (IS0P.DE) and iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) (EXHB.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.
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.
| IS0P.DE | EXHB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.07 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.37 | 0.41 | -0.04 |
| Martin ratioReturn relative to average drawdown | 0.95 | 1.14 | -0.19 |
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Drawdowns
IS0P.DE vs. EXHB.DE - Drawdown Comparison
The maximum IS0P.DE drawdown since its inception was -21.93%, which is greater than EXHB.DE's maximum drawdown of -9.97%. Use the drawdown chart below to compare losses from any high point for IS0P.DE and EXHB.DE.
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Drawdown Indicators
| IS0P.DE | EXHB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.93% | -9.97% | -11.96% |
Max Drawdown (1Y)Largest decline over 1 year | -3.42% | -1.18% | -2.24% |
Max Drawdown (3Y)Largest decline over 3 years | -3.98% | -1.18% | -2.80% |
Max Drawdown (5Y)Largest decline over 5 years | -20.84% | -6.45% | -14.39% |
Max Drawdown (10Y)Largest decline over 10 years | -21.93% | -9.94% | -11.99% |
Current DrawdownCurrent decline from peak | -11.78% | -2.69% | -9.09% |
Average DrawdownAverage peak-to-trough decline | -5.99% | -2.11% | -3.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.34% | 0.43% | +0.91% |
Volatility
IS0P.DE vs. EXHB.DE - Volatility Comparison
iShares Spain Government Bond UCITS ETF Dist (IS0P.DE) has a higher volatility of 1.16% compared to iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) (EXHB.DE) at 0.38%. This indicates that IS0P.DE's price experiences larger fluctuations and is considered to be riskier than EXHB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IS0P.DE | EXHB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 0.38% | +0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 3.71% | 1.15% | +2.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.41% | 1.28% | +3.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.24% | 1.73% | +4.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.49% | 1.44% | +4.05% |
IS0P.DE vs. EXHB.DE - Expense Ratio Comparison
IS0P.DE has a 0.20% expense ratio, which is higher than EXHB.DE's 0.16% 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
IS0P.DE vs. EXHB.DE - Dividend Comparison
IS0P.DE's dividend yield for the trailing twelve months is around 2.51%, more than EXHB.DE's 1.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXHB.DE iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) | 1.39% | 0.96% | 0.72% | 0.60% | 1.05% | 0.97% | 0.80% | 1.06% | 0.97% | 1.50% | 1.42% | 1.49% |
IS0P.DE iShares Spain Government Bond UCITS ETF Dist | 2.51% | 2.38% | 1.96% | 1.22% | 0.63% | 0.46% | 0.45% | 0.75% | 1.08% | 1.29% | 1.38% | 1.67% |
Frequently Asked Questions
IS0P.DE and EXHB.DE have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EXHB.DE is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EXHB.DE is cheaper with a 0.16% expense ratio, compared with 0.20% for IS0P.DE.
IS0P.DE tracks Bloomberg Spain Treasury Bond, while EXHB.DE tracks eb.rexx® Government Germany 1.5-2.5. Their fees differ too: 0.20% for IS0P.DE and 0.16% for EXHB.DE.
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