SE15.L vs. UKCO.L
SE15.L (iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist)) and UKCO.L (SPDR Bloomberg Sterling Corporate Bond UCITS ETF) are both European Corporate Bonds funds - SE15.L tracks the Bloomberg Euro Agg Corp 1-3 Yr TR EUR while UKCO.L tracks the Markit iBoxx GBP NonGilts TR. Both are passively managed. Over the past 10 years, SE15.L returned 2.18%/yr vs 1.34%/yr for UKCO.L. At a 0.26 correlation, their price movements are largely independent. Both charge a 0.20% expense ratio.
Performance
SE15.L vs. UKCO.L - Performance Comparison
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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 UKCO.L's -2.41% return. Over the past 10 years, SE15.L has outperformed UKCO.L with an annualized return of 2.18%, while UKCO.L has yielded a comparatively lower 1.34% 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%
UKCO.L
- 1D
- 0.32%
- 1M
- 1.74%
- YTD
- -2.41%
- 6M
- -2.30%
- 1Y
- -0.06%
- 3Y*
- 4.33%
- 5Y*
- -1.76%
- 10Y*
- 1.34%
SE15.L vs. UKCO.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% |
UKCO.L SPDR Bloomberg Sterling Corporate Bond UCITS ETF | -2.41% | 4.42% | 1.65% | 8.85% | -19.34% | -3.36% | 8.76% | 11.28% | -2.44% | 4.28% |
Correlation
The correlation between SE15.L and UKCO.L is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since May 28, 2012 | 0.26 |
The correlation between SE15.L and UKCO.L shifts across timeframes, from 0.16 (1 year) to 0.28 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SE15.L vs. UKCO.L — Risk / Return Rank
SE15.L
UKCO.L
SE15.L vs. UKCO.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 Sterling Corporate Bond UCITS ETF (UKCO.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 | UKCO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.18 | ||
| Sortino ratioReturn per unit of downside risk | +1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.00 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | -0.01 | +1.56 |
| Martin ratioReturn relative to average drawdown | 3.96 | -0.02 | +3.98 |
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 | UKCO.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.17 | -0.01 | +1.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | -0.22 | +0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | 0.16 | +0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.40 | -0.15 |
Drawdowns
SE15.L vs. UKCO.L - Drawdown Comparison
The maximum SE15.L drawdown since its inception was -15.78%, smaller than the maximum UKCO.L drawdown of -30.79%. Use the drawdown chart below to compare losses from any high point for SE15.L and UKCO.L.
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Drawdown Indicators
| SE15.L | UKCO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.78% | -30.79% | +15.01% |
Max Drawdown (1Y)Largest decline over 1 year | -3.25% | -5.99% | +2.74% |
Max Drawdown (3Y)Largest decline over 3 years | -3.25% | -5.99% | +2.74% |
Max Drawdown (5Y)Largest decline over 5 years | -10.15% | -29.89% | +19.74% |
Max Drawdown (10Y)Largest decline over 10 years | -15.55% | -30.79% | +15.24% |
Current DrawdownCurrent decline from peak | -1.85% | -12.38% | +10.53% |
Average DrawdownAverage peak-to-trough decline | -6.32% | -6.60% | +0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.27% | 2.70% | -1.43% |
Volatility
SE15.L vs. UKCO.L - Volatility Comparison
The current volatility for iShares EUR Corporate Bond 1-5yr UCITS ETF EUR (Dist) (SE15.L) is 1.31%, while SPDR Bloomberg Sterling Corporate Bond UCITS ETF (UKCO.L) has a volatility of 2.30%. This indicates that SE15.L experiences smaller price fluctuations and is considered to be less risky than UKCO.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 | UKCO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 2.30% | -0.99% |
Volatility (6M)Calculated over the trailing 6-month period | 3.13% | 5.16% | -2.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.32% | 6.55% | -2.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.48% | 7.96% | -2.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.05% | 8.29% | -1.24% |
SE15.L vs. UKCO.L - Expense Ratio Comparison
Both SE15.L and UKCO.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. UKCO.L - Dividend Comparison
SE15.L's dividend yield for the trailing twelve months is around 3.51%, while UKCO.L has not paid dividends to shareholders.
| 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% |
UKCO.L SPDR Bloomberg Sterling Corporate Bond UCITS ETF | 0.00% | 2.16% | 4.11% | 3.30% | 2.79% | 2.28% | 2.40% | 2.51% | 2.69% | 3.09% | 3.17% | 3.50% |
Frequently Asked Questions
SE15.L and UKCO.L have a correlation of 0.16, 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 UKCO.L have the same expense ratio: 0.20% per year.
SE15.L tracks Bloomberg Euro Agg Corp 1-3 Yr TR EUR, while UKCO.L tracks Markit iBoxx GBP NonGilts TR. They also come from different issuers: iShares and State Street.
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