SEUC.L vs. IRCP.L
SEUC.L (SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF) and IRCP.L (iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist)) are both European Corporate Bonds funds - SEUC.L tracks the Bloomberg Euro Agg Corp 1-3 Yr TR EUR while IRCP.L tracks the Bloomberg MSCI EUR Corporate Interest Rate Hedged ESG SRI Index. Both are passively managed. Over the past 10 years, SEUC.L returned 0.85%/yr vs 1.57%/yr for IRCP.L. At a 0.23 correlation, their price movements are largely independent. SEUC.L charges 0.20%/yr vs 0.25%/yr for IRCP.L.
Performance
SEUC.L vs. IRCP.L - Performance Comparison
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Returns By Period
In the year-to-date period, SEUC.L achieves a 0.63% return, which is significantly lower than IRCP.L's 1.43% return. Over the past 10 years, SEUC.L has underperformed IRCP.L with an annualized return of 0.85%, while IRCP.L has yielded a comparatively higher 1.57% annualized return.
SEUC.L
- 1D
- -0.03%
- 1M
- -0.07%
- 6M
- 0.50%
- YTD
- 0.63%
- 1Y
- 1.53%
- 3Y*
- 3.58%
- 5Y*
- 1.60%
- 10Y*
- 0.85%
IRCP.L
- 1D
- -0.01%
- 1M
- 0.50%
- 6M
- 1.32%
- YTD
- 1.43%
- 1Y
- 3.03%
- 3Y*
- 5.13%
- 5Y*
- 2.73%
- 10Y*
- 1.57%
SEUC.L vs. IRCP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SEUC.L SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF | 0.63% | 3.03% | 4.21% | 4.17% | -3.54% | -0.27% | 0.20% | 0.80% | -0.55% | 0.08% |
IRCP.L iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) | 1.43% | 4.21% | 6.47% | 5.14% | -2.74% | -0.24% | 0.84% | 4.00% | -3.63% | 1.46% |
Correlation
The correlation between SEUC.L and IRCP.L is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Sep 2, 2013 | 0.23 |
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Return for Risk
SEUC.L vs. IRCP.L — Risk / Return Rank
SEUC.L
IRCP.L
SEUC.L vs. IRCP.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 € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) (IRCP.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SEUC.L | IRCP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.24 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 2.94 | -1.11 |
| Martin ratioReturn relative to average drawdown | 7.11 | 12.04 | -4.93 |
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Drawdowns
SEUC.L vs. IRCP.L - Drawdown Comparison
The maximum SEUC.L drawdown since its inception was -7.84%, smaller than the maximum IRCP.L drawdown of -14.44%. Use the drawdown chart below to compare losses from any high point for SEUC.L and IRCP.L.
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Drawdown Indicators
| SEUC.L | IRCP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.84% | -14.44% | +6.60% |
Max Drawdown (1Y)Largest decline over 1 year | -0.83% | -1.03% | +0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -0.83% | -1.96% | +1.13% |
Max Drawdown (5Y)Largest decline over 5 years | -4.88% | -7.06% | +2.18% |
Max Drawdown (10Y)Largest decline over 10 years | -7.84% | -14.44% | +6.60% |
Current DrawdownCurrent decline from peak | -0.30% | -0.19% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -0.64% | -1.31% | +0.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.25% | -0.04% |
Volatility
SEUC.L vs. IRCP.L - Volatility Comparison
The current volatility for SPDR Bloomberg 0-3 Year Corporate Bond UCITS ETF (SEUC.L) is 0.25%, while iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) (IRCP.L) has a volatility of 0.60%. This indicates that SEUC.L experiences smaller price fluctuations and is considered to be less risky than IRCP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SEUC.L | IRCP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.25% | 0.60% | -0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 0.96% | 2.45% | -1.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.07% | 2.67% | -1.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.39% | 2.96% | -1.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.16% | 3.79% | -1.63% |
SEUC.L vs. IRCP.L - Expense Ratio Comparison
SEUC.L has a 0.20% expense ratio, which is lower than IRCP.L's 0.25% expense ratio. Despite the difference, 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. IRCP.L - Dividend Comparison
SEUC.L's dividend yield for the trailing twelve months is around 2.96%, more than IRCP.L's 2.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IRCP.L iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) | 2.58% | 2.91% | 3.70% | 2.52% | 0.43% | 0.70% | 0.82% | 0.92% | 0.58% | 0.71% | 1.35% | 1.47% |
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
SEUC.L and IRCP.L have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SEUC.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SEUC.L is cheaper with a 0.20% expense ratio, compared with 0.25% for IRCP.L.
SEUC.L tracks Bloomberg Euro Agg Corp 1-3 Yr TR EUR, while IRCP.L tracks Bloomberg MSCI EUR Corporate Interest Rate Hedged ESG SRI Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.20% for SEUC.L and 0.25% for IRCP.L.
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