SDEU.L vs. AUDUSD=X
SDEU.L (iShares Germany Government Bond UCITS ETF (Dist)) is European Government Bonds fund tracking the Bloomberg Euro Agg Govt TR EUR, while AUDUSD=X (AUD/USD) is a currency. Over the past 10 years, SDEU.L returned -0.29%/yr vs 0.29%/yr for AUDUSD=X. At a 0.27 correlation, their price movements are largely independent.
Performance
SDEU.L vs. AUDUSD=X - Performance Comparison
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Different Trading Currencies
SDEU.L is traded in GBP, while AUDUSD=X is traded in USD. To make them comparable, the AUDUSD=X values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SDEU.L achieves a -1.11% return, which is significantly lower than AUDUSD=X's 6.53% return. Over the past 10 years, SDEU.L has underperformed AUDUSD=X with an annualized return of -0.29%, while AUDUSD=X has yielded a comparatively higher 0.29% annualized return.
SDEU.L
- 1D
- 0.24%
- 1M
- 0.20%
- YTD
- -1.11%
- 6M
- -1.01%
- 1Y
- 2.04%
- 3Y*
- 1.13%
- 5Y*
- -2.81%
- 10Y*
- -0.29%
AUDUSD=X
- 1D
- -0.71%
- 1M
- -0.90%
- YTD
- 6.53%
- 6M
- 5.95%
- 1Y
- 10.09%
- 3Y*
- -0.59%
- 5Y*
- -0.70%
- 10Y*
- 0.29%
SDEU.L vs. AUDUSD=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SDEU.L iShares Germany Government Bond UCITS ETF (Dist) | -1.11% | 3.89% | -3.80% | 2.90% | -13.18% | -9.06% | 8.46% | -2.18% | 3.12% | 1.86% |
AUDUSD=X AUD/USD | 6.53% | 0.13% | -7.53% | -5.06% | 4.87% | -4.68% | 6.53% | -4.16% | -4.38% | -1.01% |
Correlation
The correlation between SDEU.L and AUDUSD=X is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since May 10, 2012 | 0.27 |
The correlation between SDEU.L and AUDUSD=X shifts across timeframes, from 0.17 (5 years) to 0.30 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
SDEU.L vs. AUDUSD=X — Risk / Return Rank
SDEU.L
AUDUSD=X
SDEU.L vs. AUDUSD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Germany Government Bond UCITS ETF (Dist) (SDEU.L) and AUD/USD (AUDUSD=X). 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.
| SDEU.L | AUDUSD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.27 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.39 | 2.55 | -2.17 |
| Martin ratioReturn relative to average drawdown | 0.81 | 8.23 | -7.42 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SDEU.L | AUDUSD=X | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.31 | 1.49 | -1.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.38 | -0.09 | -0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.03 | 0.03 | -0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.06 | 0.10 | -0.04 |
Drawdowns
SDEU.L vs. AUDUSD=X - Drawdown Comparison
The maximum SDEU.L drawdown since its inception was -27.61%, smaller than the maximum AUDUSD=X drawdown of -34.55%. Use the drawdown chart below to compare losses from any high point for SDEU.L and AUDUSD=X.
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Drawdown Indicators
| SDEU.L | AUDUSD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.61% | -34.55% | +6.94% |
Max Drawdown (1Y)Largest decline over 1 year | -4.18% | -3.15% | -1.03% |
Max Drawdown (3Y)Largest decline over 3 years | -7.00% | -14.01% | +7.01% |
Max Drawdown (5Y)Largest decline over 5 years | -20.62% | -23.23% | +2.61% |
Max Drawdown (10Y)Largest decline over 10 years | -27.61% | -26.18% | -1.43% |
Current DrawdownCurrent decline from peak | -23.00% | -23.82% | +0.82% |
Average DrawdownAverage peak-to-trough decline | -11.22% | -16.28% | +5.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.00% | 0.91% | +1.09% |
Volatility
SDEU.L vs. AUDUSD=X - Volatility Comparison
iShares Germany Government Bond UCITS ETF (Dist) (SDEU.L) and AUD/USD (AUDUSD=X) have volatilities of 1.61% and 1.54%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDEU.L | AUDUSD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.61% | 1.54% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 3.81% | 3.89% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.15% | 5.40% | -0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.39% | 7.16% | +0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.60% | 8.49% | +0.11% |
Frequently Asked Questions
SDEU.L and AUDUSD=X have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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