IS0P.DE vs. IBCM.DE
IS0P.DE (iShares Spain Government Bond UCITS ETF Dist) and IBCM.DE (iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist)) are both European Government Bonds funds from iShares - IS0P.DE tracks the Bloomberg Spain Treasury Bond while IBCM.DE tracks the Bloomberg Euro Government Bond 10. Both are passively managed. Over the past 10 years, IS0P.DE returned 0.26%/yr vs -0.35%/yr for IBCM.DE. A 0.80 correlation means they provide meaningful diversification when combined. IS0P.DE charges 0.20%/yr vs 0.15%/yr for IBCM.DE.
Performance
IS0P.DE vs. IBCM.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 IBCM.DE's 0.07% return. Over the past 10 years, IS0P.DE has outperformed IBCM.DE with an annualized return of 0.26%, while IBCM.DE has yielded a comparatively lower -0.35% 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%
IBCM.DE
- 1D
- 0.03%
- 1M
- -0.84%
- 6M
- -0.78%
- YTD
- 0.07%
- 1Y
- 0.88%
- 3Y*
- 2.76%
- 5Y*
- -2.63%
- 10Y*
- -0.35%
IS0P.DE vs. IBCM.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% |
IBCM.DE iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | 0.07% | 1.53% | 0.84% | 8.74% | -19.91% | -3.09% | 4.08% | 6.64% | 1.32% | 0.88% |
Correlation
The correlation between IS0P.DE and IBCM.DE is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since May 8, 2012 | 0.80 |
The correlation between IS0P.DE and IBCM.DE shifts across timeframes, from 0.80 (all time) to 0.97 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IS0P.DE vs. IBCM.DE — Risk / Return Rank
IS0P.DE
IBCM.DE
IS0P.DE vs. IBCM.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 Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBCM.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 | IBCM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.03 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.37 | 0.21 | +0.16 |
| Martin ratioReturn relative to average drawdown | 0.95 | 0.53 | +0.43 |
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Drawdowns
IS0P.DE vs. IBCM.DE - Drawdown Comparison
The maximum IS0P.DE drawdown since its inception was -21.93%, smaller than the maximum IBCM.DE drawdown of -23.25%. Use the drawdown chart below to compare losses from any high point for IS0P.DE and IBCM.DE.
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Drawdown Indicators
| IS0P.DE | IBCM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.93% | -23.25% | +1.32% |
Max Drawdown (1Y)Largest decline over 1 year | -3.42% | -4.09% | +0.67% |
Max Drawdown (3Y)Largest decline over 3 years | -3.98% | -4.52% | +0.54% |
Max Drawdown (5Y)Largest decline over 5 years | -20.84% | -22.90% | +2.06% |
Max Drawdown (10Y)Largest decline over 10 years | -21.93% | -23.25% | +1.32% |
Current DrawdownCurrent decline from peak | -11.78% | -13.88% | +2.10% |
Average DrawdownAverage peak-to-trough decline | -5.99% | -5.23% | -0.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.34% | 1.66% | -0.32% |
Volatility
IS0P.DE vs. IBCM.DE - Volatility Comparison
The current volatility for iShares Spain Government Bond UCITS ETF Dist (IS0P.DE) is 1.16%, while iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBCM.DE) has a volatility of 1.29%. This indicates that IS0P.DE experiences smaller price fluctuations and is considered to be less risky than IBCM.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 | IBCM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 1.29% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 3.71% | 4.26% | -0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.41% | 5.06% | -0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.24% | 7.40% | -1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.49% | 6.03% | -0.54% |
IS0P.DE vs. IBCM.DE - Expense Ratio Comparison
IS0P.DE has a 0.20% expense ratio, which is higher than IBCM.DE's 0.15% 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. IBCM.DE - Dividend Comparison
IS0P.DE's dividend yield for the trailing twelve months is around 2.51%, less than IBCM.DE's 2.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBCM.DE iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | 2.92% | 2.82% | 2.73% | 1.97% | 0.13% | 0.00% | 0.09% | 0.63% | 0.75% | 0.76% | 0.80% | 1.09% |
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
With a correlation of 0.90, IS0P.DE and IBCM.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, IBCM.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBCM.DE is cheaper with a 0.15% expense ratio, compared with 0.20% for IS0P.DE.
IS0P.DE tracks Bloomberg Spain Treasury Bond, while IBCM.DE tracks Bloomberg Euro Government Bond 10. Their fees differ too: 0.20% for IS0P.DE and 0.15% for IBCM.DE.
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