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ISXF.L vs. SEUC.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ISXF.L vs. SEUC.L

Last updated Jun 5, 2026

ISXF.L (iShares GBP Corporate Bond ex-Financials UCITS ETF) and SEUC.L (SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF) are both European Corporate Bonds funds - ISXF.L tracks the Markit iBoxx GBP NonGilts TR while SEUC.L tracks the Bloomberg Euro Agg Corp 1-3 Yr TR EUR. Both are passively managed. Over the past 10 years, ISXF.L returned 1.39%/yr vs 1.85%/yr for SEUC.L. At a 0.17 correlation, their price movements are largely independent. Both charge a 0.20% expense ratio.

Performance

ISXF.L vs. SEUC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares GBP Corporate Bond ex-Financials UCITS ETF (ISXF.L) and SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF (SEUC.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

ISXF.L is traded in GBP, while SEUC.L is traded in EUR. To make them comparable, the SEUC.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, ISXF.L achieves a -0.58% return, which is significantly lower than SEUC.L's -0.19% return. Over the past 10 years, ISXF.L has underperformed SEUC.L with an annualized return of 1.39%, while SEUC.L has yielded a comparatively higher 1.85% annualized return.

ISXF.L

1D
0.33%
1M
2.17%
YTD
-0.58%
6M
-0.21%
1Y
4.58%
3Y*
5.20%
5Y*
-1.41%
10Y*
1.39%

SEUC.L

1D
0.17%
1M
0.58%
YTD
-0.19%
6M
-0.27%
1Y
4.67%
3Y*
3.87%
5Y*
1.74%
10Y*
1.85%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ISXF.L vs. SEUC.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ISXF.L
iShares GBP Corporate Bond ex-Financials UCITS ETF		-0.58%6.93%-0.18%8.72%-19.96%-4.01%8.54%11.27%-2.05%3.40%
SEUC.L
SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF		-0.19%8.55%-0.52%2.10%1.44%-6.18%5.89%-4.93%0.45%4.34%

Correlation

The correlation between ISXF.L and SEUC.L is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.15

Correlation (3Y)
Calculated over the trailing 3-year period

0.14

Correlation (5Y)
Calculated over the trailing 5-year period

0.12

Correlation (10Y)
Calculated over the trailing 10-year period

0.15

Correlation (All Time)
Calculated using the full available price history since Sep 10, 2013

0.17

Compare stocks, funds, or ETFs

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iShares GBP Corporate Bond ex-Financials UCITS ETF

SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF

Often compared with ISXF.L:
ISXF.L vs. EUHD.LISXF.L vs. IEAA.LISXF.L vs. PRIC.LISXF.L vs. VECP.LISXF.L vs. IS15.LISXF.L vs. GBP5.LISXF.L vs. XBLC.L
Often compared with SEUC.L:
SEUC.L vs. IEAC.ASSEUC.L vs. IBCX.LSEUC.L vs. J15R.LSEUC.L vs. VYMISEUC.L vs. ECRP.LSEUC.L vs. IGCB.LSEUC.L vs. VECA.L

Return for Risk

ISXF.L vs. SEUC.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ISXF.L
ISXF.L Risk / Return Rank: 2323
Overall Rank
ISXF.L Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
ISXF.L Sortino Ratio Rank: 2222
Sortino Ratio Rank
ISXF.L Omega Ratio Rank: 2323
Omega Ratio Rank
ISXF.L Calmar Ratio Rank: 2222
Calmar Ratio Rank
ISXF.L Martin Ratio Rank: 2323
Martin Ratio Rank
SEUC.L
SEUC.L Risk / Return Rank: 5757
Overall Rank
SEUC.L Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
SEUC.L Sortino Ratio Rank: 6262
Sortino Ratio Rank
SEUC.L Omega Ratio Rank: 6969
Omega Ratio Rank
SEUC.L Calmar Ratio Rank: 4747
Calmar Ratio Rank
SEUC.L Martin Ratio Rank: 5454
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ISXF.L vs. SEUC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares GBP Corporate Bond ex-Financials UCITS ETF (ISXF.L) and SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF (SEUC.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.

ISXF.LSEUC.LDifference
Sharpe ratioReturn per unit of total volatility
0.79
1.14

-0.35

Sortino ratioReturn per unit of downside risk
1.16
1.73

-0.58

Omega ratioGain probability vs. loss probability

1.15

1.20

-0.05

Calmar ratioReturn relative to maximum drawdown

0.97

2.06

-1.10

Martin ratioReturn relative to average drawdown

2.74

4.57

-1.83

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISXF.L vs. SEUC.L - Sharpe Ratio Comparison

The current ISXF.L Sharpe Ratio is 0.79, which is lower than the SEUC.L Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of ISXF.L and SEUC.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

ISXF.LSEUC.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.79

1.14

-0.35

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.18

0.32

-0.50

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.19

0.26

-0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.54

0.15

+0.38

Drawdowns

ISXF.L vs. SEUC.L - Drawdown Comparison

The maximum ISXF.L drawdown since its inception was -32.38%, which is greater than SEUC.L's maximum drawdown of -17.58%. Use the drawdown chart below to compare losses from any high point for ISXF.L and SEUC.L.

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Drawdown Indicators

ISXF.LSEUC.LDifference

Max Drawdown

Largest peak-to-trough decline

-32.38%

-17.58%

-14.80%

Max Drawdown (1Y)

Largest decline over 1 year

-4.73%

-2.25%

-2.48%

Max Drawdown (3Y)

Largest decline over 3 years

-4.73%

-2.84%

-1.89%

Max Drawdown (5Y)

Largest decline over 5 years

-31.23%

-5.79%

-25.44%

Max Drawdown (10Y)

Largest decline over 10 years

-32.38%

-12.34%

-20.04%

Current Drawdown

Current decline from peak

-11.65%

-1.25%

-10.40%

Average Drawdown

Average peak-to-trough decline

-6.57%

-6.39%

-0.18%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.67%

1.02%

+0.65%

Volatility

ISXF.L vs. SEUC.L - Volatility Comparison

iShares GBP Corporate Bond ex-Financials UCITS ETF (ISXF.L) has a higher volatility of 2.43% compared to SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF (SEUC.L) at 1.16%. This indicates that ISXF.L's price experiences larger fluctuations and is considered to be riskier than SEUC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ISXF.LSEUC.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.43%

1.16%

+1.27%

Volatility (6M)

Calculated over the trailing 6-month period

5.10%

2.78%

+2.32%

Volatility (1Y)

Calculated over the trailing 1-year period

5.77%

4.09%

+1.68%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.92%

5.40%

+2.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.28%

7.10%

+0.18%

ISXF.L vs. SEUC.L - Expense Ratio Comparison

Both ISXF.L and SEUC.L have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

ISXF.L vs. SEUC.L - Dividend Comparison

ISXF.L's dividend yield for the trailing twelve months is around 4.54%, more than SEUC.L's 2.96% yield.

PositionTTM20252024202320222021202020192018201720162015
ISXF.L
iShares GBP Corporate Bond ex-Financials UCITS ETF		4.54%4.23%3.97%3.15%2.93%2.31%2.30%2.66%2.87%2.87%3.48%1.95%
SEUC.L
SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF		2.96%3.05%2.59%1.27%0.19%0.30%0.23%0.17%0.11%0.28%0.50%0.72%

Frequently Asked Questions

ISXF.L and SEUC.L have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

ISXF.L and SEUC.L have the same expense ratio: 0.20% per year.

ISXF.L tracks Markit iBoxx GBP NonGilts TR, while SEUC.L tracks Bloomberg Euro Agg Corp 1-3 Yr TR EUR. They also come from different issuers: iShares and State Street.

Portfolio Optimizer

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