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SE15.L vs. ISXF.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SE15.L vs. ISXF.L

Last updated Jun 5, 2026

SE15.L (iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist)) and ISXF.L (iShares GBP Corporate Bond ex-Financials UCITS ETF) are both European Corporate Bonds funds from iShares - SE15.L tracks the Bloomberg Euro Agg Corp 1-3 Yr TR EUR while ISXF.L tracks the Markit iBoxx GBP NonGilts TR. Both are passively managed. Over the past 10 years, SE15.L returned 2.18%/yr vs 1.39%/yr for ISXF.L. At a 0.23 correlation, their price movements are largely independent. Both charge a 0.20% expense ratio.

Performance

SE15.L vs. ISXF.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist) (SE15.L) and iShares GBP Corporate Bond ex-Financials UCITS ETF (ISXF.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SE15.L achieves a -0.33% return, which is significantly higher than ISXF.L's -0.58% return. Over the past 10 years, SE15.L has outperformed ISXF.L with an annualized return of 2.18%, while ISXF.L has yielded a comparatively lower 1.39% annualized return.

SE15.L

1D
0.22%
1M
0.73%
YTD
-0.33%
6M
-0.28%
1Y
5.05%
3Y*
4.84%
5Y*
1.50%
10Y*
2.18%

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

SE15.L vs. ISXF.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SE15.L
iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist)		-0.33%9.40%0.01%4.04%-2.64%-6.64%6.70%-2.39%0.34%4.51%
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%

Correlation

The correlation between SE15.L and ISXF.L is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.26

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

0.32

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

0.32

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

0.28

Correlation (All Time)
Calculated using the full available price history since Sep 30, 2009

0.23

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iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist)

iShares GBP Corporate Bond ex-Financials UCITS ETF

Often compared with SE15.L:
SE15.L vs. PRIC.LSE15.L vs. J15R.LSE15.L vs. VECA.LSE15.L vs. IEAA.LSE15.L vs. IGCB.LSE15.L vs. ECRP.LSE15.L vs. IS15.L
Often compared with ISXF.L:
ISXF.L vs. EUHD.LISXF.L vs. PRIC.LISXF.L vs. IEAA.LISXF.L vs. VECP.LISXF.L vs. IS15.LISXF.L vs. XBLC.LISXF.L vs. GBP5.L

Return for Risk

SE15.L vs. ISXF.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SE15.L
SE15.L Risk / Return Rank: 3131
Overall Rank
SE15.L Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
SE15.L Sortino Ratio Rank: 3434
Sortino Ratio Rank
SE15.L Omega Ratio Rank: 3030
Omega Ratio Rank
SE15.L Calmar Ratio Rank: 3232
Calmar Ratio Rank
SE15.L Martin Ratio Rank: 2828
Martin Ratio Rank
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
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.

SE15.L vs. ISXF.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist) (SE15.L) and iShares GBP Corporate Bond ex-Financials UCITS ETF (ISXF.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.

SE15.LISXF.LDifference
Sharpe ratioReturn per unit of total volatility
1.17
0.79

+0.37

Sortino ratioReturn per unit of downside risk
1.76
1.16

+0.60

Omega ratioGain probability vs. loss probability

1.20

1.15

+0.05

Calmar ratioReturn relative to maximum drawdown

1.55

0.97

+0.58

Martin ratioReturn relative to average drawdown

3.96

2.74

+1.22

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

SE15.L vs. ISXF.L - Sharpe Ratio Comparison

The current SE15.L Sharpe Ratio is 1.17, which is higher than the ISXF.L Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of SE15.L and ISXF.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

SE15.LISXF.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.17

0.79

+0.37

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.27

-0.18

+0.45

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.31

0.19

+0.12

Sharpe Ratio (All Time)

Calculated using the full available price history

0.25

0.54

-0.29

Drawdowns

SE15.L vs. ISXF.L - Drawdown Comparison

The maximum SE15.L drawdown since its inception was -15.78%, smaller than the maximum ISXF.L drawdown of -32.38%. Use the drawdown chart below to compare losses from any high point for SE15.L and ISXF.L.

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Drawdown Indicators

SE15.LISXF.LDifference

Max Drawdown

Largest peak-to-trough decline

-15.78%

-32.38%

+16.60%

Max Drawdown (1Y)

Largest decline over 1 year

-3.25%

-4.73%

+1.48%

Max Drawdown (3Y)

Largest decline over 3 years

-3.25%

-4.73%

+1.48%

Max Drawdown (5Y)

Largest decline over 5 years

-10.15%

-31.23%

+21.08%

Max Drawdown (10Y)

Largest decline over 10 years

-15.55%

-32.38%

+16.83%

Current Drawdown

Current decline from peak

-1.85%

-11.65%

+9.80%

Average Drawdown

Average peak-to-trough decline

-6.32%

-6.57%

+0.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.27%

1.67%

-0.40%

Volatility

SE15.L vs. ISXF.L - Volatility Comparison

The current volatility for iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist) (SE15.L) is 1.31%, while iShares GBP Corporate Bond ex-Financials UCITS ETF (ISXF.L) has a volatility of 2.43%. This indicates that SE15.L experiences smaller price fluctuations and is considered to be less risky than ISXF.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SE15.LISXF.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.31%

2.43%

-1.12%

Volatility (6M)

Calculated over the trailing 6-month period

3.13%

5.10%

-1.97%

Volatility (1Y)

Calculated over the trailing 1-year period

4.32%

5.77%

-1.45%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.48%

7.92%

-2.44%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.05%

7.28%

-0.23%

SE15.L vs. ISXF.L - Expense Ratio Comparison

Both SE15.L and ISXF.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

SE15.L vs. ISXF.L - Dividend Comparison

SE15.L's dividend yield for the trailing twelve months is around 3.51%, less than ISXF.L's 4.54% 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%
SE15.L
iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist)		3.51%3.34%3.02%1.62%0.58%0.68%0.66%0.73%0.69%0.77%1.05%0.77%

Frequently Asked Questions

SE15.L and ISXF.L have a correlation of 0.26, 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.

SE15.L and ISXF.L have the same expense ratio: 0.20% per year.

SE15.L tracks Bloomberg Euro Agg Corp 1-3 Yr TR EUR, while ISXF.L tracks Markit iBoxx GBP NonGilts TR.

Portfolio Optimizer

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