SXRM.DE vs. PICB
SXRM.DE (iShares USD Treasury Bond 7-10yr UCITS ETF (Acc)) and PICB (Invesco International Corporate Bond ETF) are both exchange-traded funds - SXRM.DE is a Government Bonds fund tracking the ICE US Treasury 7-10 Year, while PICB is a Corporate Bonds fund tracking the S&P International Corporate Bond Index. Both are passively managed. Over the past 10 years, SXRM.DE returned 0.67%/yr vs 0.82%/yr for PICB. At a 0.31 correlation, their price movements are largely independent. SXRM.DE charges 0.07%/yr vs 0.50%/yr for PICB.
Performance
SXRM.DE vs. PICB - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SXRM.DE having a -0.59% return and PICB slightly higher at -0.57%. Over the past 10 years, SXRM.DE has underperformed PICB with an annualized return of 0.67%, while PICB has yielded a comparatively higher 0.82% annualized return.
SXRM.DE
- 1D
- 0.38%
- 1M
- 0.09%
- YTD
- -0.59%
- 6M
- 0.05%
- 1Y
- 4.19%
- 3Y*
- 2.95%
- 5Y*
- -1.07%
- 10Y*
- 0.67%
PICB
- 1D
- 0.00%
- 1M
- 0.31%
- YTD
- -0.57%
- 6M
- 0.05%
- 1Y
- 1.63%
- 3Y*
- 6.17%
- 5Y*
- -2.27%
- 10Y*
- 0.82%
SXRM.DE vs. PICB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SXRM.DE iShares USD Treasury Bond 7-10yr UCITS ETF (Acc) | -0.59% | 8.56% | -0.51% | 3.57% | -14.86% | -3.03% | 9.73% | 9.02% | 0.39% | 2.66% |
PICB Invesco International Corporate Bond ETF | -0.57% | 14.33% | -3.45% | 11.56% | -22.64% | -6.87% | 12.87% | 9.40% | -7.27% | 14.43% |
Correlation
The correlation between SXRM.DE and PICB is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2010 | 0.31 |
The correlation between SXRM.DE and PICB shifts across timeframes, from 0.31 (all time) to 0.50 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SXRM.DE vs. PICB — Risk / Return Rank
SXRM.DE
PICB
SXRM.DE vs. PICB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 7-10yr UCITS ETF (Acc) (SXRM.DE) and Invesco International Corporate Bond ETF (PICB). 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.
| SXRM.DE | PICB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.03 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.93 | 0.17 | +0.75 |
| Martin ratioReturn relative to average drawdown | 2.74 | 0.47 | +2.27 |
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Drawdowns
SXRM.DE vs. PICB - Drawdown Comparison
The maximum SXRM.DE drawdown since its inception was -23.31%, smaller than the maximum PICB drawdown of -37.10%. Use the drawdown chart below to compare losses from any high point for SXRM.DE and PICB.
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Drawdown Indicators
| SXRM.DE | PICB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.31% | -37.10% | +13.79% |
Max Drawdown (1Y)Largest decline over 1 year | -4.02% | -6.41% | +2.39% |
Max Drawdown (3Y)Largest decline over 3 years | -7.24% | -9.76% | +2.52% |
Max Drawdown (5Y)Largest decline over 5 years | -20.90% | -36.25% | +15.35% |
Max Drawdown (10Y)Largest decline over 10 years | -23.31% | -37.10% | +13.79% |
Current DrawdownCurrent decline from peak | -10.34% | -11.78% | +1.44% |
Average DrawdownAverage peak-to-trough decline | -6.45% | -9.67% | +3.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.37% | 2.39% | -1.02% |
Volatility
SXRM.DE vs. PICB - Volatility Comparison
The current volatility for iShares USD Treasury Bond 7-10yr UCITS ETF (Acc) (SXRM.DE) is 1.86%, while Invesco International Corporate Bond ETF (PICB) has a volatility of 2.56%. This indicates that SXRM.DE experiences smaller price fluctuations and is considered to be less risky than PICB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SXRM.DE | PICB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.86% | 2.56% | -0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 3.41% | 6.08% | -2.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.60% | 7.86% | -3.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.38% | 10.20% | -2.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.30% | 10.06% | -3.76% |
SXRM.DE vs. PICB - Expense Ratio Comparison
SXRM.DE has a 0.07% expense ratio, which is lower than PICB's 0.50% expense ratio.
Dividends
SXRM.DE vs. PICB - Dividend Comparison
SXRM.DE has not paid dividends to shareholders, while PICB's dividend yield for the trailing twelve months is around 3.34%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PICB Invesco International Corporate Bond ETF | 3.34% | 3.17% | 3.19% | 2.24% | 1.64% | 1.34% | 1.22% | 1.42% | 1.70% | 1.47% | 2.20% | 2.39% |
SXRM.DE iShares USD Treasury Bond 7-10yr UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SXRM.DE and PICB have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SXRM.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SXRM.DE is cheaper with a 0.07% expense ratio, compared with 0.50% for PICB.
SXRM.DE is categorized as Government Bonds, while PICB is Corporate Bonds. SXRM.DE tracks ICE US Treasury 7-10 Year, while PICB tracks S&P International Corporate Bond Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.07% for SXRM.DE and 0.50% for PICB.
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