SMEA.L vs. IB01.L
SMEA.L (iShares Core MSCI Europe UCITS ETF EUR (Acc)) and IB01.L (iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)) are both exchange-traded funds - SMEA.L is a Europe Equities fund tracking the MSCI Europe NR EUR, while IB01.L is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 5 years, SMEA.L returned 10.14%/yr vs 4.49%/yr for IB01.L. At a correlation of -0.03, they often move in opposite directions. SMEA.L charges 0.12%/yr vs 0.07%/yr for IB01.L.
Performance
SMEA.L vs. IB01.L - Performance Comparison
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Different Trading Currencies
SMEA.L is traded in GBp, while IB01.L is traded in USD. To make them comparable, the IB01.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, SMEA.L achieves a 6.71% return, which is significantly higher than IB01.L's 1.79% return.
SMEA.L
- 1D
- 0.75%
- 1M
- 3.62%
- YTD
- 6.71%
- 6M
- 8.81%
- 1Y
- 19.31%
- 3Y*
- 13.80%
- 5Y*
- 10.14%
- 10Y*
- 10.22%
IB01.L
- 1D
- 0.00%
- 1M
- 1.13%
- YTD
- 1.79%
- 6M
- 0.98%
- 1Y
- 4.92%
- 3Y*
- 2.08%
- 5Y*
- 4.49%
- 10Y*
- —
SMEA.L vs. IB01.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SMEA.L iShares Core MSCI Europe UCITS ETF EUR (Acc) | 6.71% | 25.88% | 3.68% | 13.36% | -3.48% | 16.94% | 2.44% | 12.21% |
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) | 1.86% | -3.10% | 7.09% | -0.32% | 13.10% | 0.95% | -2.08% | 0.41% |
Correlation
The correlation between SMEA.L and IB01.L is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2019 | -0.03 |
The correlation between SMEA.L and IB01.L shifts across timeframes, from -0.13 (5 years) to -0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SMEA.L vs. IB01.L — Risk / Return Rank
SMEA.L
IB01.L
SMEA.L vs. IB01.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Europe UCITS ETF EUR (Acc) (SMEA.L) and iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.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.
| SMEA.L | IB01.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.86 | ||
| Sortino ratioReturn per unit of downside risk | +1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.13 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 0.95 | +0.87 |
| Martin ratioReturn relative to average drawdown | 6.51 | 2.58 | +3.92 |
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
| SMEA.L | IB01.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.60 | 0.74 | +0.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | 0.53 | +0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.26 | +0.34 |
Drawdowns
SMEA.L vs. IB01.L - Drawdown Comparison
The maximum SMEA.L drawdown since its inception was -28.48%, which is greater than IB01.L's maximum drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for SMEA.L and IB01.L.
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Drawdown Indicators
| SMEA.L | IB01.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.48% | -19.26% | -9.22% |
Max Drawdown (1Y)Largest decline over 1 year | -10.56% | -5.16% | -5.40% |
Max Drawdown (3Y)Largest decline over 3 years | -12.46% | -9.81% | -2.65% |
Max Drawdown (5Y)Largest decline over 5 years | -15.76% | -15.94% | +0.18% |
Max Drawdown (10Y)Largest decline over 10 years | -28.48% | — | — |
Current DrawdownCurrent decline from peak | -1.27% | -6.11% | +4.84% |
Average DrawdownAverage peak-to-trough decline | -4.54% | -9.35% | +4.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 1.90% | +1.06% |
Volatility
SMEA.L vs. IB01.L - Volatility Comparison
iShares Core MSCI Europe UCITS ETF EUR (Acc) (SMEA.L) has a higher volatility of 3.91% compared to iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L) at 1.81%. This indicates that SMEA.L's price experiences larger fluctuations and is considered to be riskier than IB01.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMEA.L | IB01.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.91% | 1.81% | +2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 10.09% | 4.97% | +5.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.02% | 6.60% | +5.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.64% | 8.47% | +5.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.04% | 8.81% | +6.23% |
SMEA.L vs. IB01.L - Expense Ratio Comparison
SMEA.L has a 0.12% expense ratio, which is higher than IB01.L's 0.07% 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
SMEA.L vs. IB01.L - Dividend Comparison
Neither SMEA.L nor IB01.L has paid dividends to shareholders.
Frequently Asked Questions
SMEA.L and IB01.L have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IB01.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IB01.L is cheaper with a 0.07% expense ratio, compared with 0.12% for SMEA.L.
SMEA.L is categorized as Europe Equities, while IB01.L is Government Bonds. SMEA.L tracks MSCI Europe NR EUR, while IB01.L tracks ICE U.S. Treasury Short Bond Index. Their fees differ too: 0.12% for SMEA.L and 0.07% for IB01.L.
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