SYBL.DE vs. IBCA.DE
SYBL.DE (SPDR Bloomberg 15+ Year Gilt UCITS ETF) and IBCA.DE (iShares Euro Government Bond 1-3yr UCITS ETF (Dist)) are both European Government Bonds funds - SYBL.DE tracks the Bloomberg UK Gilt 15+ while IBCA.DE tracks the Bloomberg Euro Government Bond 1-3. Both are passively managed. Over the past 10 years, SYBL.DE returned -4.51%/yr vs 0.36%/yr for IBCA.DE. At a 0.31 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.
Performance
SYBL.DE vs. IBCA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SYBL.DE achieves a -3.01% return, which is significantly lower than IBCA.DE's 0.16% return. Over the past 10 years, SYBL.DE has underperformed IBCA.DE with an annualized return of -4.51%, while IBCA.DE has yielded a comparatively higher 0.36% annualized return.
SYBL.DE
- 1D
- 0.30%
- 1M
- 0.76%
- YTD
- -3.01%
- 6M
- -2.76%
- 1Y
- -2.42%
- 3Y*
- -1.08%
- 5Y*
- -10.98%
- 10Y*
- -4.51%
IBCA.DE
- 1D
- 0.06%
- 1M
- 0.09%
- YTD
- 0.16%
- 6M
- 0.30%
- 1Y
- 1.12%
- 3Y*
- 2.71%
- 5Y*
- 0.81%
- 10Y*
- 0.36%
SYBL.DE vs. IBCA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SYBL.DE SPDR Bloomberg 15+ Year Gilt UCITS ETF | -3.01% | -1.00% | -6.77% | 3.36% | -43.17% | 0.20% | 6.07% | 17.90% | -1.01% | -0.58% |
IBCA.DE iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 0.16% | 2.31% | 3.05% | 3.50% | -4.26% | -0.84% | -0.15% | 0.14% | -0.27% | 0.02% |
Correlation
The correlation between SYBL.DE and IBCA.DE is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since May 21, 2012 | 0.31 |
Over the past year, SYBL.DE and IBCA.DE have become more correlated (0.52) than their long-term average of 0.31, meaning their price movements have been converging.
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Return for Risk
SYBL.DE vs. IBCA.DE — Risk / Return Rank
SYBL.DE
IBCA.DE
SYBL.DE vs. IBCA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 15+ Year Gilt UCITS ETF (SYBL.DE) and iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.DE). 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.
| SYBL.DE | IBCA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.89 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.15 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | -0.24 | 0.84 | -1.08 |
| Martin ratioReturn relative to average drawdown | -0.57 | 2.70 | -3.27 |
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
| SYBL.DE | IBCA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.19 | 0.71 | -0.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.53 | 0.52 | -1.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.25 | 0.09 | -0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.07 | 0.25 | -0.32 |
Drawdowns
SYBL.DE vs. IBCA.DE - Drawdown Comparison
The maximum SYBL.DE drawdown since its inception was -57.50%, which is greater than IBCA.DE's maximum drawdown of -8.31%. Use the drawdown chart below to compare losses from any high point for SYBL.DE and IBCA.DE.
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Drawdown Indicators
| SYBL.DE | IBCA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.50% | -8.31% | -49.19% |
Max Drawdown (1Y)Largest decline over 1 year | -10.35% | -1.14% | -9.21% |
Max Drawdown (3Y)Largest decline over 3 years | -17.73% | -1.14% | -16.59% |
Max Drawdown (5Y)Largest decline over 5 years | -55.48% | -5.21% | -50.27% |
Max Drawdown (10Y)Largest decline over 10 years | -57.50% | -8.31% | -49.19% |
Current DrawdownCurrent decline from peak | -52.83% | -0.45% | -52.38% |
Average DrawdownAverage peak-to-trough decline | -20.87% | -1.03% | -19.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.39% | 0.36% | +4.03% |
Volatility
SYBL.DE vs. IBCA.DE - Volatility Comparison
SPDR Bloomberg 15+ Year Gilt UCITS ETF (SYBL.DE) has a higher volatility of 5.80% compared to iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.DE) at 0.64%. This indicates that SYBL.DE's price experiences larger fluctuations and is considered to be riskier than IBCA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SYBL.DE | IBCA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.80% | 0.64% | +5.16% |
Volatility (6M)Calculated over the trailing 6-month period | 10.48% | 1.27% | +9.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.44% | 1.36% | +12.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.69% | 1.55% | +19.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.69% | 3.81% | +13.88% |
SYBL.DE vs. IBCA.DE - Expense Ratio Comparison
Both SYBL.DE and IBCA.DE have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SYBL.DE vs. IBCA.DE - Dividend Comparison
SYBL.DE's dividend yield for the trailing twelve months is around 5.11%, more than IBCA.DE's 2.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBCA.DE iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 2.18% | 2.45% | 2.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.04% | 0.29% |
SYBL.DE SPDR Bloomberg 15+ Year Gilt UCITS ETF | 5.11% | 4.88% | 4.32% | 2.96% | 1.73% | 0.85% | 1.05% | 1.36% | 1.58% | 1.90% | 2.13% | 2.55% |
Frequently Asked Questions
SYBL.DE and IBCA.DE have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SYBL.DE and IBCA.DE have the same expense ratio: 0.15% per year.
SYBL.DE tracks Bloomberg UK Gilt 15+, while IBCA.DE tracks Bloomberg Euro Government Bond 1-3. They also come from different issuers: State Street and iShares.
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