SPEH.L vs. IB01.L
SPEH.L (iShares Spain Govt Bond UCITS ETF USD Hedged (Acc)) and IB01.L (iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)) are both Government Bonds funds from iShares - SPEH.L tracks the iShares Spain Govt Bond UCITS ETF USD Hedged (Acc) while IB01.L tracks the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 5 years, SPEH.L returned -0.14%/yr vs 3.29%/yr for IB01.L. At a 0.15 correlation, their price movements are largely independent. SPEH.L charges 0.22%/yr vs 0.07%/yr for IB01.L.
Performance
SPEH.L vs. IB01.L - Performance Comparison
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Returns By Period
In the year-to-date period, SPEH.L achieves a 0.87% return, which is significantly lower than IB01.L's 1.83% return.
SPEH.L
- 1D
- -0.17%
- 1M
- -0.68%
- 6M
- 0.34%
- YTD
- 0.87%
- 1Y
- 3.37%
- 3Y*
- 5.12%
- 5Y*
- -0.14%
- 10Y*
- —
IB01.L
- 1D
- 0.00%
- 1M
- 0.27%
- 6M
- 1.77%
- YTD
- 1.83%
- 1Y
- 3.90%
- 3Y*
- 4.66%
- 5Y*
- 3.29%
- 10Y*
- —
SPEH.L vs. IB01.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SPEH.L iShares Spain Govt Bond UCITS ETF USD Hedged (Acc) | 0.87% | 3.59% | 4.70% | 9.02% | -16.01% | -2.52% | 5.30% | 9.90% |
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) | 1.83% | 4.34% | 5.25% | 4.92% | 1.08% | -0.85% | 0.88% | 2.06% |
Correlation
The correlation between SPEH.L and IB01.L is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2019 | 0.15 |
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Return for Risk
SPEH.L vs. IB01.L — Risk / Return Rank
SPEH.L
IB01.L
SPEH.L vs. IB01.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Spain Govt Bond UCITS ETF USD Hedged (Acc) (SPEH.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.
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.
| SPEH.L | IB01.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -11.15 | ||
| Sortino ratioReturn per unit of downside risk | -36.22 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 8.35 | -7.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.04 | 114.58 | -113.53 |
| Martin ratioReturn relative to average drawdown | 3.13 | 560.87 | -557.74 |
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Drawdowns
SPEH.L vs. IB01.L - Drawdown Comparison
The maximum SPEH.L drawdown since its inception was -19.03%, which is greater than IB01.L's maximum drawdown of -1.28%. Use the drawdown chart below to compare losses from any high point for SPEH.L and IB01.L.
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Drawdown Indicators
| SPEH.L | IB01.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.03% | -1.28% | -17.75% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -0.03% | -3.19% |
Max Drawdown (3Y)Largest decline over 3 years | -3.54% | -0.09% | -3.45% |
Max Drawdown (5Y)Largest decline over 5 years | -18.21% | -1.12% | -17.09% |
Current DrawdownCurrent decline from peak | -2.84% | 0.00% | -2.84% |
Average DrawdownAverage peak-to-trough decline | -6.16% | -0.23% | -5.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 0.01% | +1.06% |
Volatility
SPEH.L vs. IB01.L - Volatility Comparison
iShares Spain Govt Bond UCITS ETF USD Hedged (Acc) (SPEH.L) has a higher volatility of 1.16% compared to iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L) at 0.08%. This indicates that SPEH.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
| SPEH.L | IB01.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 0.08% | +1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.60% | 0.22% | +3.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.30% | 0.33% | +3.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.25% | 0.54% | +5.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.82% | 0.78% | +5.04% |
SPEH.L vs. IB01.L - Expense Ratio Comparison
SPEH.L has a 0.22% 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
SPEH.L vs. IB01.L - Dividend Comparison
Neither SPEH.L nor IB01.L has paid dividends to shareholders.
Frequently Asked Questions
SPEH.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 0.22% for SPEH.L.
SPEH.L tracks iShares Spain Govt Bond UCITS ETF USD Hedged (Acc), while IB01.L tracks ICE U.S. Treasury Short Bond Index. Their fees differ too: 0.22% for SPEH.L and 0.07% for IB01.L.
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