SDEU.L vs. HG=F
SDEU.L (iShares Germany Government Bond UCITS ETF (Dist)) is European Government Bonds fund tracking the Bloomberg Euro Agg Govt TR EUR, while HG=F (Copper) is an asset. Over the past 10 years, SDEU.L returned -0.29%/yr vs 12.73%/yr for HG=F. At a 0.07 correlation, their price movements are largely independent.
Performance
SDEU.L vs. HG=F - Performance Comparison
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Different Trading Currencies
SDEU.L is traded in GBP, while HG=F is traded in USD. To make them comparable, the HG=F 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 HG=F's 16.41% return. Over the past 10 years, SDEU.L has underperformed HG=F with an annualized return of -0.29%, while HG=F has yielded a comparatively higher 12.73% 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%
HG=F
- 1D
- 0.72%
- 1M
- 7.75%
- YTD
- 16.41%
- 6M
- 18.72%
- 1Y
- 33.84%
- 3Y*
- 17.02%
- 5Y*
- 8.73%
- 10Y*
- 12.73%
SDEU.L vs. HG=F - 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% |
HG=F Copper | 16.41% | 29.86% | 5.30% | -3.00% | -4.48% | 28.04% | 22.12% | 2.27% | -15.56% | 20.34% |
Correlation
The correlation between SDEU.L and HG=F is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since May 10, 2012 | 0.07 |
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Return for Risk
SDEU.L vs. HG=F — Risk / Return Rank
SDEU.L
HG=F
SDEU.L vs. HG=F - 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 Copper (HG=F). 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 | HG=F | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.23 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.39 | 1.26 | -0.87 |
| Martin ratioReturn relative to average drawdown | 0.81 | 2.77 | -1.96 |
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 | HG=F | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.31 | 0.88 | -0.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.38 | 0.32 | -0.70 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.03 | 0.53 | -0.57 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.06 | 0.21 | -0.15 |
Drawdowns
SDEU.L vs. HG=F - Drawdown Comparison
The maximum SDEU.L drawdown since its inception was -27.61%, smaller than the maximum HG=F drawdown of -57.86%. Use the drawdown chart below to compare losses from any high point for SDEU.L and HG=F.
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Drawdown Indicators
| SDEU.L | HG=F | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.61% | -57.86% | +30.25% |
Max Drawdown (1Y)Largest decline over 1 year | -4.18% | -24.39% | +20.21% |
Max Drawdown (3Y)Largest decline over 3 years | -7.00% | -24.39% | +17.39% |
Max Drawdown (5Y)Largest decline over 5 years | -20.62% | -27.16% | +6.54% |
Max Drawdown (10Y)Largest decline over 10 years | -27.61% | -29.41% | +1.80% |
Current DrawdownCurrent decline from peak | -23.00% | -1.48% | -21.52% |
Average DrawdownAverage peak-to-trough decline | -11.22% | -20.96% | +9.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.00% | 11.69% | -9.69% |
Volatility
SDEU.L vs. HG=F - Volatility Comparison
The current volatility for iShares Germany Government Bond UCITS ETF (Dist) (SDEU.L) is 1.61%, while Copper (HG=F) has a volatility of 7.92%. This indicates that SDEU.L experiences smaller price fluctuations and is considered to be less risky than HG=F based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDEU.L | HG=F | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.61% | 7.92% | -6.31% |
Volatility (6M)Calculated over the trailing 6-month period | 3.81% | 20.77% | -16.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.15% | 34.84% | -29.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.39% | 25.28% | -17.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.60% | 22.87% | -14.27% |
Frequently Asked Questions
SDEU.L and HG=F have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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