SEUC.L vs. EFRN.L

Last updated Jun 5, 2026

SEUC.L (SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF) and EFRN.L (iShares EUR Floating Rate Bond ESG UCITS ETF EUR (Dist)) are both European Corporate Bonds funds tracking the Bloomberg Euro Agg Corp 1-3 Yr TR EUR, from State Street and iShares respectively. Both are passively managed. At a 0.07 correlation, their price movements are largely independent. SEUC.L charges 0.20%/yr vs 0.10%/yr for EFRN.L.

Performance

SEUC.L vs. EFRN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF (SEUC.L) and iShares EUR Floating Rate Bond ESG UCITS ETF EUR (Dist) (EFRN.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SEUC.L

• 1D: 0.05%
• 1M: 0.22%
• YTD: 0.55%
• 6M: 0.73%
• 1Y: 2.01%
• 3Y*: 3.72%
• 5Y*: 1.59%
• 10Y*: 0.86%

EFRN.L

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SEUC.L vs. EFRN.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SEUC.L SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF	0.55%	3.03%	4.21%	4.17%	-3.54%	-0.27%	0.22%	0.79%	-0.35%
EFRN.L iShares EUR Floating Rate Bond ESG UCITS ETF EUR (Dist)	0.00%	2.41%	4.35%	3.98%	-0.12%	-0.18%	0.03%	1.08%	-0.78%

Correlation

The correlation between SEUC.L and EFRN.L is 0.04, 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	0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (All Time) Calculated using the full available price history since Jul 6, 2018	0.07

SEUC.L vs. EFRN.L - Sectors Allocation Comparison

Sectors	SEUC.L	EFRN.L
Financial Services	27.8%	27.8%
Industrials	4.9%	1.8%
Consumer Cyclical	4.8%	-
Consumer Defensive	3.4%	0.3%
Healthcare	3.0%	-
Real Estate	2.4%	-
Communication Services	2.2%	-
Utilities	2.1%	-
Basic Materials	1.6%	-
Energy	1.1%	-
Technology	1.1%	-

Return for Risk

SEUC.L vs. EFRN.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SEUC.L

SEUC.L Risk / Return Rank: 57
SEUC.L Sharpe Ratio Rank: 52
SEUC.L Sortino Ratio Rank: 62
SEUC.L Omega Ratio Rank: 69
SEUC.L Calmar Ratio Rank: 47
SEUC.L Martin Ratio Rank: 54

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.

SEUC.L vs. EFRN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF (SEUC.L) and iShares EUR Floating Rate Bond ESG UCITS ETF EUR (Dist) (EFRN.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.

	SEUC.L	EFRN.L	Difference
Sharpe ratio: Return per unit of total volatility	1.77	—	—
Sortino ratio: Return per unit of downside risk	2.90	—	—
Omega ratio: Gain probability vs. loss probability	1.40	—	—
Calmar ratio: Return relative to maximum drawdown	2.28	—	—
Martin ratio: Return relative to average drawdown	9.27	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SEUC.L	EFRN.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.18	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	—	—

Drawdowns

Drawdown Indicators

	SEUC.L	EFRN.L	Difference
Max Drawdown Largest peak-to-trough decline	-7.82%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-0.83%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-0.83%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-4.90%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-7.82%	—	—
Current Drawdown Current decline from peak	-0.10%	—	—
Average Drawdown Average peak-to-trough decline	-0.65%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.21%	—	—

Volatility

Volatility by Period

	SEUC.L	EFRN.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.36%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.95%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.08%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.35%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.15%	—	—

SEUC.L vs. EFRN.L - Expense Ratio Comparison

SEUC.L has a 0.20% expense ratio, which is higher than EFRN.L's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SEUC.L vs. EFRN.L - Dividend Comparison

SEUC.L's dividend yield for the trailing twelve months is around 2.96%, while EFRN.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFRN.L iShares EUR Floating Rate Bond ESG UCITS ETF EUR (Dist)	0.00%	1.59%	4.22%	2.93%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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

Can I hold both SEUC.L and EFRN.L in my portfolio?

SEUC.L and EFRN.L have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SEUC.L or EFRN.L?

On fees, EFRN.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SEUC.L or EFRN.L?

EFRN.L is cheaper with a 0.10% expense ratio, compared with 0.20% for SEUC.L.

What is the main difference between SEUC.L and EFRN.L?

Both ETFs track Bloomberg Euro Agg Corp 1-3 Yr TR EUR. They also come from different issuers: State Street and iShares. Their fees differ too: 0.20% for SEUC.L and 0.10% for EFRN.L.