SE15.L vs. SEUC.L
SE15.L (iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist)) and SEUC.L (SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF) are both European Corporate Bonds funds tracking the Bloomberg Euro Agg Corp 1-3 Yr TR EUR, from iShares and State Street respectively. Both are passively managed. Over the past 10 years, SE15.L returned 2.18%/yr vs 1.85%/yr for SEUC.L. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.
Performance
SE15.L vs. SEUC.L - Performance Comparison
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Different Trading Currencies
SE15.L is traded in GBP, while SEUC.L is traded in EUR. To make them comparable, the SEUC.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SE15.L achieves a -0.33% return, which is significantly lower than SEUC.L's -0.19% return. Over the past 10 years, SE15.L has outperformed SEUC.L with an annualized return of 2.18%, while SEUC.L has yielded a comparatively lower 1.85% 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%
SEUC.L
- 1D
- 0.17%
- 1M
- 0.58%
- YTD
- -0.19%
- 6M
- -0.27%
- 1Y
- 4.67%
- 3Y*
- 3.87%
- 5Y*
- 1.74%
- 10Y*
- 1.85%
SE15.L vs. SEUC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
SEUC.L SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF | -0.19% | 8.55% | -0.52% | 2.10% | 1.44% | -6.18% | 5.89% | -4.93% | 0.45% | 4.34% |
Correlation
The correlation between SE15.L and SEUC.L is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2013 | 0.83 |
The correlation between SE15.L and SEUC.L has been stable across timeframes, ranging from 0.80 to 0.83 - a consistent structural relationship.
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Return for Risk
SE15.L vs. SEUC.L — Risk / Return Rank
SE15.L
SEUC.L
SE15.L vs. SEUC.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 SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF (SEUC.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.L | SEUC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.20 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 2.06 | -0.51 |
| Martin ratioReturn relative to average drawdown | 3.96 | 4.57 | -0.61 |
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
| SE15.L | SEUC.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.17 | 1.14 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.32 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | 0.26 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.15 | +0.09 |
Drawdowns
SE15.L vs. SEUC.L - Drawdown Comparison
The maximum SE15.L drawdown since its inception was -15.78%, smaller than the maximum SEUC.L drawdown of -17.58%. Use the drawdown chart below to compare losses from any high point for SE15.L and SEUC.L.
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Drawdown Indicators
| SE15.L | SEUC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.78% | -17.58% | +1.80% |
Max Drawdown (1Y)Largest decline over 1 year | -3.25% | -2.25% | -1.00% |
Max Drawdown (3Y)Largest decline over 3 years | -3.25% | -2.84% | -0.41% |
Max Drawdown (5Y)Largest decline over 5 years | -10.15% | -5.79% | -4.36% |
Max Drawdown (10Y)Largest decline over 10 years | -15.55% | -12.34% | -3.21% |
Current DrawdownCurrent decline from peak | -1.85% | -1.25% | -0.60% |
Average DrawdownAverage peak-to-trough decline | -6.32% | -6.39% | +0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.27% | 1.02% | +0.25% |
Volatility
SE15.L vs. SEUC.L - Volatility Comparison
iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist) (SE15.L) has a higher volatility of 1.31% compared to SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF (SEUC.L) at 1.16%. This indicates that SE15.L's price experiences larger fluctuations and is considered to be riskier than SEUC.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.L | SEUC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 1.16% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 3.13% | 2.78% | +0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.32% | 4.09% | +0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.48% | 5.40% | +0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.05% | 7.10% | -0.05% |
SE15.L vs. SEUC.L - Expense Ratio Comparison
Both SE15.L and SEUC.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. SEUC.L - Dividend Comparison
SE15.L's dividend yield for the trailing twelve months is around 3.51%, more than SEUC.L's 2.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SEUC.L SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF | 2.96% | 3.05% | 2.59% | 1.27% | 0.19% | 0.30% | 0.23% | 0.17% | 0.11% | 0.28% | 0.50% | 0.72% |
Frequently Asked Questions
SE15.L and SEUC.L have a correlation of 0.82, 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 SEUC.L have the same expense ratio: 0.20% per year.
Both ETFs track Bloomberg Euro Agg Corp 1-3 Yr TR EUR. They also come from different issuers: iShares and State Street.
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