IUAE.L vs. IE15.L

Last updated Jul 16, 2026

IUAE.L (iShares US Aggregate Bond UCITS ETF) and IE15.L (iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist)) are both Global Bonds funds from iShares - IUAE.L tracks the iShares US Aggregate Bond UCITS ETF while IE15.L tracks the iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist). Both are passively managed. Over the past 5 years, IUAE.L returned -2.40%/yr vs 0.69%/yr for IE15.L. At a 0.45 correlation, their price movements are largely independent. IUAE.L charges 0.30%/yr vs 0.20%/yr for IE15.L.

Performance

IUAE.L vs. IE15.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares US Aggregate Bond UCITS ETF (IUAE.L) and iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist) (IE15.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IUAE.L achieves a -1.30% return, which is significantly lower than IE15.L's -1.14% return.

IUAE.L

• 1D: -0.07%
• 1M: -0.90%
• 6M: -1.30%
• YTD: -1.30%
• 1Y: 2.05%
• 3Y*: 1.62%
• 5Y*: -2.40%
• 10Y*: —

IE15.L

• 1D: -0.18%
• 1M: -0.30%
• 6M: -1.34%
• YTD: -1.14%
• 1Y: -0.17%
• 3Y*: 3.65%
• 5Y*: 0.69%
• 10Y*: 0.76%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IUAE.L vs. IE15.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
IUAE.L iShares US Aggregate Bond UCITS ETF	-1.30%	4.73%	-0.64%	2.65%	-15.00%	-2.82%	5.50%	5.75%	-1.04%
IE15.L iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist)	-1.14%	3.42%	4.34%	5.77%	-7.79%	-0.34%	1.06%	2.63%	-0.49%

Correlation

The correlation between IUAE.L and IE15.L is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Apr 10, 2018	0.45

The correlation between IUAE.L and IE15.L shifts across timeframes, from 0.45 (all time) to 0.57 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

IUAE.L vs. IE15.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IUAE.L

IUAE.L Risk / Return Rank: 18
IUAE.L Sharpe Ratio Rank: 19
IUAE.L Sortino Ratio Rank: 17
IUAE.L Omega Ratio Rank: 17
IUAE.L Calmar Ratio Rank: 18
IUAE.L Martin Ratio Rank: 19

IE15.L

IE15.L Risk / Return Rank: 8
IE15.L Sharpe Ratio Rank: 8
IE15.L Sortino Ratio Rank: 7
IE15.L Omega Ratio Rank: 7
IE15.L Calmar Ratio Rank: 8
IE15.L Martin Ratio Rank: 8

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.

IUAE.L vs. IE15.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares US Aggregate Bond UCITS ETF (IUAE.L) and iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist) (IE15.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.

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.

	IUAE.L	IE15.L	Difference
Sharpe ratio: Return per unit of total volatility	0.49	-0.11	+0.61
Sortino ratio: Return per unit of downside risk	0.76	-0.13	+0.88
Omega ratio: Gain probability vs. loss probability	1.09	0.98	+0.11
Calmar ratio: Return relative to maximum drawdown	0.59	-0.10	+0.69
Martin ratio: Return relative to average drawdown	1.55	-0.25	+1.80

IUAE.L vs. IE15.L - Sharpe Ratio Comparison

The current IUAE.L Sharpe Ratio is 0.49, which is higher than the IE15.L Sharpe Ratio of -0.11. The chart below compares the historical Sharpe Ratios of IUAE.L and IE15.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.

Drawdowns

IUAE.L vs. IE15.L - Drawdown Comparison

The maximum IUAE.L drawdown since its inception was -22.73%, which is greater than IE15.L's maximum drawdown of -10.14%. Use the drawdown chart below to compare losses from any high point for IUAE.L and IE15.L.

Drawdown Indicators

	IUAE.L	IE15.L	Difference
Max Drawdown Largest peak-to-trough decline	-22.73%	-10.14%	-12.59%
Max Drawdown (1Y) Largest decline over 1 year	-3.45%	-2.86%	-0.59%
Max Drawdown (3Y) Largest decline over 3 years	-6.30%	-2.86%	-3.44%
Max Drawdown (5Y) Largest decline over 5 years	-21.15%	-10.14%	-11.01%
Max Drawdown (10Y) Largest decline over 10 years	—	-10.14%	—
Current Drawdown Current decline from peak	-13.83%	-1.39%	-12.44%
Average Drawdown Average peak-to-trough decline	-9.19%	-1.46%	-7.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.32%	1.16%	+0.16%

Volatility

IUAE.L vs. IE15.L - Volatility Comparison

iShares US Aggregate Bond UCITS ETF (IUAE.L) has a higher volatility of 1.22% compared to iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist) (IE15.L) at 0.59%. This indicates that IUAE.L's price experiences larger fluctuations and is considered to be riskier than IE15.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IUAE.L	IE15.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.22%	0.59%	+0.63%
Volatility (6M) Calculated over the trailing 6-month period	3.19%	1.85%	+1.34%
Volatility (1Y) Calculated over the trailing 1-year period	4.13%	2.50%	+1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.16%	2.75%	+3.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.51%	3.32%	+2.19%

IUAE.L vs. IE15.L - Expense Ratio Comparison

IUAE.L has a 0.30% expense ratio, which is higher than IE15.L's 0.20% expense ratio.

Dividends

IUAE.L vs. IE15.L - Dividend Comparison

IUAE.L has not paid dividends to shareholders, while IE15.L's dividend yield for the trailing twelve months is around 3.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IE15.L iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist)	3.00%	2.92%	2.50%	1.41%	0.51%	0.57%	0.59%	0.62%	0.62%	0.68%	0.90%	0.56%
IUAE.L iShares US Aggregate Bond UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IUAE.L and IE15.L in my portfolio?

IUAE.L and IE15.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IUAE.L or IE15.L?

On fees, IE15.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IUAE.L or IE15.L?

IE15.L is cheaper with a 0.20% expense ratio, compared with 0.30% for IUAE.L.

What is the main difference between IUAE.L and IE15.L?

IUAE.L tracks iShares US Aggregate Bond UCITS ETF, while IE15.L tracks iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist). Their fees differ too: 0.30% for IUAE.L and 0.20% for IE15.L.