LDCE.DE vs. COVR.DE

Last updated Apr 2, 2026

Compare and contrast key facts about PIMCO Euro Low Duration Corporate Bond UCITS ETF Dist (LDCE.DE) and PIMCO Covered Bond UCITS ETF Dist (COVR.DE).

LDCE.DE and COVR.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LDCE.DE is a passively managed fund by PIMCO that tracks the performance of the PIMCO Low Duration Euro Corporate Bond. It was launched on Nov 17, 2014. COVR.DE is a passively managed fund by PIMCO that tracks the performance of the PIMCO Covered Bond. It was launched on Dec 17, 2013. Both LDCE.DE and COVR.DE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

LDCE.DE vs. COVR.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in PIMCO Euro Low Duration Corporate Bond UCITS ETF Dist (LDCE.DE) and PIMCO Covered Bond UCITS ETF Dist (COVR.DE). The values are adjusted to include any dividend payments, if applicable.

LDCE.DE vs. COVR.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LDCE.DE PIMCO Euro Low Duration Corporate Bond UCITS ETF Dist	-1.01%	4.19%	4.68%	6.54%	-8.43%	0.32%	1.14%	2.80%	-0.73%	0.97%
COVR.DE PIMCO Covered Bond UCITS ETF Dist	-0.83%	2.66%	3.80%	6.11%	-12.85%	-2.27%	3.03%	3.98%	0.05%	2.43%

Returns By Period

In the year-to-date period, LDCE.DE achieves a -1.01% return, which is significantly lower than COVR.DE's -0.83% return. Over the past 10 years, LDCE.DE has outperformed COVR.DE with an annualized return of 1.21%, while COVR.DE has yielded a comparatively lower 0.54% annualized return.

LDCE.DE

• 1D: 0.22%
• 1M: -1.84%
• YTD: -1.01%
• 6M: -0.58%
• 1Y: 2.00%
• 3Y*: 4.44%
• 5Y*: 1.03%
• 10Y*: 1.21%

COVR.DE

• 1D: 0.11%
• 1M: -2.15%
• YTD: -0.83%
• 6M: -0.72%
• 1Y: 1.12%
• 3Y*: 3.46%
• 5Y*: -0.72%
• 10Y*: 0.54%

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

LDCE.DE vs. COVR.DE - Expense Ratio Comparison

LDCE.DE has a 0.49% expense ratio, which is higher than COVR.DE's 0.43% expense ratio.

LDCE.DE

PIMCO Euro Low Duration Corporate Bond UCITS ETF Dist

COVR.DE

PIMCO Covered Bond UCITS ETF Dist

Return for Risk

LDCE.DE vs. COVR.DE — Risk / Return Rank

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

LDCE.DE

LDCE.DE Risk / Return Rank: 32
LDCE.DE Sharpe Ratio Rank: 35
LDCE.DE Sortino Ratio Rank: 32
LDCE.DE Omega Ratio Rank: 30
LDCE.DE Calmar Ratio Rank: 28
LDCE.DE Martin Ratio Rank: 33

COVR.DE

COVR.DE Risk / Return Rank: 22
COVR.DE Sharpe Ratio Rank: 25
COVR.DE Sortino Ratio Rank: 22
COVR.DE Omega Ratio Rank: 21
COVR.DE Calmar Ratio Rank: 19
COVR.DE Martin Ratio Rank: 23

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.

LDCE.DE vs. COVR.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Euro Low Duration Corporate Bond UCITS ETF Dist (LDCE.DE) and PIMCO Covered Bond UCITS ETF Dist (COVR.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.

	LDCE.DE	COVR.DE	Difference
Sharpe ratio Return per unit of total volatility	0.72	0.49	+0.23
Sortino ratio Return per unit of downside risk	1.00	0.68	+0.32
Omega ratio Gain probability vs. loss probability	1.13	1.09	+0.04
Calmar ratio Return relative to maximum drawdown	0.79	0.44	+0.36
Martin ratio Return relative to average drawdown	3.48	1.94	+1.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LDCE.DE vs. COVR.DE - Sharpe Ratio Comparison

The current LDCE.DE Sharpe Ratio is 0.72, which is higher than the COVR.DE Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of LDCE.DE and COVR.DE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	LDCE.DE	COVR.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.72	0.49	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	-0.19	+0.56
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.18	+0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.20	+0.38

Correlation

The correlation between LDCE.DE and COVR.DE is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

LDCE.DE vs. COVR.DE - Dividend Comparison

LDCE.DE's dividend yield for the trailing twelve months is around 3.41%, more than COVR.DE's 2.51% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LDCE.DE PIMCO Euro Low Duration Corporate Bond UCITS ETF Dist	3.41%	3.22%	2.73%	1.72%	0.94%	0.51%	0.51%	0.63%	0.65%	0.71%	0.95%	0.93%
COVR.DE PIMCO Covered Bond UCITS ETF Dist	2.51%	2.43%	1.66%	0.56%	0.00%	0.00%	0.42%	1.20%	0.78%	0.57%	0.74%	0.86%

Drawdowns

LDCE.DE vs. COVR.DE - Drawdown Comparison

The maximum LDCE.DE drawdown since its inception was -11.07%, smaller than the maximum COVR.DE drawdown of -16.36%. Use the drawdown chart below to compare losses from any high point for LDCE.DE and COVR.DE.

Drawdown Indicators

	LDCE.DE	COVR.DE	Difference
Max Drawdown Largest peak-to-trough decline	-11.07%	-16.36%	+5.29%
Max Drawdown (1Y) Largest decline over 1 year	-2.63%	-2.85%	+0.22%
Max Drawdown (5Y) Largest decline over 5 years	-11.07%	-15.69%	+4.62%
Max Drawdown (10Y) Largest decline over 10 years	-11.07%	-16.36%	+5.29%
Current Drawdown Current decline from peak	-2.09%	-4.79%	+2.70%
Average Drawdown Average peak-to-trough decline	-1.76%	-4.10%	+2.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.60%	0.64%	-0.04%

Volatility

LDCE.DE vs. COVR.DE - Volatility Comparison

PIMCO Euro Low Duration Corporate Bond UCITS ETF Dist (LDCE.DE) has a higher volatility of 1.34% compared to PIMCO Covered Bond UCITS ETF Dist (COVR.DE) at 1.08%. This indicates that LDCE.DE's price experiences larger fluctuations and is considered to be riskier than COVR.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LDCE.DE	COVR.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.34%	1.08%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	2.17%	1.61%	+0.56%
Volatility (1Y) Calculated over the trailing 1-year period	2.76%	2.25%	+0.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.75%	3.72%	-0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.37%	2.95%	-0.58%