SUOE.L vs. IRCP.L
SUOE.L (iShares EUR Corporate Bond ESG UCITS ETF (Dist)) and IRCP.L (iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist)) are both European Corporate Bonds funds from iShares - SUOE.L tracks the Bloomberg Euro Corp TR EUR while IRCP.L tracks the Bloomberg MSCI EUR Corporate Interest Rate Hedged ESG SRI Index. Both are passively managed. Over the past 5 years, SUOE.L returned -0.16%/yr vs 2.73%/yr for IRCP.L. At a 0.24 correlation, their price movements are largely independent. SUOE.L charges 0.15%/yr vs 0.25%/yr for IRCP.L.
Performance
SUOE.L vs. IRCP.L - Performance Comparison
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Returns By Period
In the year-to-date period, SUOE.L achieves a 0.33% return, which is significantly lower than IRCP.L's 1.43% return.
SUOE.L
- 1D
- -0.21%
- 1M
- -0.64%
- 6M
- -0.09%
- YTD
- 0.33%
- 1Y
- 1.12%
- 3Y*
- 4.18%
- 5Y*
- -0.16%
- 10Y*
- —
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%
SUOE.L vs. IRCP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SUOE.L iShares EUR Corporate Bond ESG UCITS ETF (Dist) | 0.33% | 3.04% | 4.13% | 7.20% | -13.07% | -1.23% | 2.51% | 6.06% | -0.50% |
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% | -1.54% |
Correlation
The correlation between SUOE.L and IRCP.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 | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2018 | 0.24 |
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Return for Risk
SUOE.L vs. IRCP.L — Risk / Return Rank
SUOE.L
IRCP.L
SUOE.L vs. IRCP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares EUR Corporate Bond ESG UCITS ETF (Dist) (SUOE.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.
| SUOE.L | IRCP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.24 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 2.94 | -2.52 |
| Martin ratioReturn relative to average drawdown | 1.36 | 12.04 | -10.67 |
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Drawdowns
SUOE.L vs. IRCP.L - Drawdown Comparison
The maximum SUOE.L drawdown since its inception was -17.08%, which is greater than IRCP.L's maximum drawdown of -14.44%. Use the drawdown chart below to compare losses from any high point for SUOE.L and IRCP.L.
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Drawdown Indicators
| SUOE.L | IRCP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.08% | -14.44% | -2.64% |
Max Drawdown (1Y)Largest decline over 1 year | -2.71% | -1.03% | -1.68% |
Max Drawdown (3Y)Largest decline over 3 years | -2.71% | -1.96% | -0.75% |
Max Drawdown (5Y)Largest decline over 5 years | -17.08% | -7.06% | -10.02% |
Max Drawdown (10Y)Largest decline over 10 years | — | -14.44% | — |
Current DrawdownCurrent decline from peak | -1.35% | -0.19% | -1.16% |
Average DrawdownAverage peak-to-trough decline | -4.69% | -1.31% | -3.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.25% | +0.57% |
Volatility
SUOE.L vs. IRCP.L - Volatility Comparison
iShares EUR Corporate Bond ESG UCITS ETF (Dist) (SUOE.L) has a higher volatility of 0.99% compared to iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) (IRCP.L) at 0.60%. This indicates that SUOE.L's price experiences larger fluctuations and is considered to be riskier 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
| SUOE.L | IRCP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.99% | 0.60% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 2.97% | 2.45% | +0.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.46% | 2.67% | +0.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.00% | 2.96% | +2.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.63% | 3.79% | +1.84% |
SUOE.L vs. IRCP.L - Expense Ratio Comparison
SUOE.L has a 0.15% 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
SUOE.L vs. IRCP.L - Dividend Comparison
SUOE.L's dividend yield for the trailing twelve months is around 3.28%, 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% |
SUOE.L iShares EUR Corporate Bond ESG UCITS ETF (Dist) | 3.28% | 3.23% | 3.19% | 2.52% | 0.82% | 0.47% | 0.57% | 0.77% | 0.30% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SUOE.L and IRCP.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.
On fees, SUOE.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SUOE.L is cheaper with a 0.15% expense ratio, compared with 0.25% for IRCP.L.
SUOE.L tracks Bloomberg Euro Corp TR EUR, while IRCP.L tracks Bloomberg MSCI EUR Corporate Interest Rate Hedged ESG SRI Index. Their fees differ too: 0.15% for SUOE.L and 0.25% for IRCP.L.
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