SYBN.DE vs. XAT1.DE
SYBN.DE (SPDR Bloomberg 10+ Year US Corporate Bond UCITS ETF) and XAT1.DE (Invesco AT1 Capital Bond ETF EUR Hedged Dist) are both Corporate Bonds funds - SYBN.DE tracks the Bloomberg US Corporate 10+ while XAT1.DE tracks the Markit iBoxx USD Contingent Convertible Liquid Developed Market AT1 (8% Issuer Cap) TR Index - USD. Both are passively managed. Over the past 5 years, SYBN.DE returned -0.75%/yr vs 0.67%/yr for XAT1.DE. At a 0.12 correlation, their price movements are largely independent. SYBN.DE charges 0.12%/yr vs 0.39%/yr for XAT1.DE.
Performance
SYBN.DE vs. XAT1.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SYBN.DE achieves a 1.97% return, which is significantly higher than XAT1.DE's 0.23% return.
SYBN.DE
- 1D
- 0.30%
- 1M
- 1.49%
- YTD
- 1.97%
- 6M
- 0.93%
- 1Y
- 5.57%
- 3Y*
- 1.80%
- 5Y*
- -0.75%
- 10Y*
- 2.22%
XAT1.DE
- 1D
- -0.09%
- 1M
- -1.42%
- YTD
- 0.23%
- 6M
- 0.99%
- 1Y
- 5.49%
- 3Y*
- 8.79%
- 5Y*
- 0.67%
- 10Y*
- —
SYBN.DE vs. XAT1.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SYBN.DE SPDR Bloomberg 10+ Year US Corporate Bond UCITS ETF | 1.97% | -4.34% | 4.09% | 6.87% | -20.46% | 6.88% | 3.21% | 27.52% | 0.75% |
XAT1.DE Invesco AT1 Capital Bond ETF EUR Hedged Dist | 0.23% | 8.61% | 8.34% | -0.02% | -12.08% | 2.58% | 5.80% | 15.11% | -0.93% |
Correlation
The correlation between SYBN.DE and XAT1.DE is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018 | 0.12 |
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Return for Risk
SYBN.DE vs. XAT1.DE — Risk / Return Rank
SYBN.DE
XAT1.DE
SYBN.DE vs. XAT1.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 10+ Year US Corporate Bond UCITS ETF (SYBN.DE) and Invesco AT1 Capital Bond ETF EUR Hedged Dist (XAT1.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.
| SYBN.DE | XAT1.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.24 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.02 | 1.55 | -0.53 |
| Martin ratioReturn relative to average drawdown | 2.15 | 6.31 | -4.16 |
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
| SYBN.DE | XAT1.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.63 | 1.15 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.06 | 0.08 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.18 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.31 | -0.10 |
Drawdowns
SYBN.DE vs. XAT1.DE - Drawdown Comparison
The maximum SYBN.DE drawdown since its inception was -28.03%, roughly equal to the maximum XAT1.DE drawdown of -28.95%. Use the drawdown chart below to compare losses from any high point for SYBN.DE and XAT1.DE.
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Drawdown Indicators
| SYBN.DE | XAT1.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.03% | -28.95% | +0.92% |
Max Drawdown (1Y)Largest decline over 1 year | -4.99% | -3.63% | -1.36% |
Max Drawdown (3Y)Largest decline over 3 years | -15.40% | -4.67% | -10.73% |
Max Drawdown (5Y)Largest decline over 5 years | -28.03% | -27.74% | -0.29% |
Max Drawdown (10Y)Largest decline over 10 years | -28.03% | — | — |
Current DrawdownCurrent decline from peak | -16.22% | -1.42% | -14.80% |
Average DrawdownAverage peak-to-trough decline | -9.94% | -6.38% | -3.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 0.89% | +1.48% |
Volatility
SYBN.DE vs. XAT1.DE - Volatility Comparison
SPDR Bloomberg 10+ Year US Corporate Bond UCITS ETF (SYBN.DE) has a higher volatility of 2.10% compared to Invesco AT1 Capital Bond ETF EUR Hedged Dist (XAT1.DE) at 1.69%. This indicates that SYBN.DE's price experiences larger fluctuations and is considered to be riskier than XAT1.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SYBN.DE | XAT1.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.10% | 1.69% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 5.72% | 4.41% | +1.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.15% | 4.91% | +3.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.47% | 8.18% | +4.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.40% | 10.25% | +2.15% |
SYBN.DE vs. XAT1.DE - Expense Ratio Comparison
SYBN.DE has a 0.12% expense ratio, which is lower than XAT1.DE's 0.39% expense ratio.
Dividends
SYBN.DE vs. XAT1.DE - Dividend Comparison
SYBN.DE's dividend yield for the trailing twelve months is around 5.43%, less than XAT1.DE's 5.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
SYBN.DE SPDR Bloomberg 10+ Year US Corporate Bond UCITS ETF | 5.43% | 5.75% | 5.08% | 4.61% | 4.65% | 3.20% | 3.62% | 3.61% | 3.99% | 4.44% | 2.62% |
XAT1.DE Invesco AT1 Capital Bond ETF EUR Hedged Dist | 5.94% | 5.95% | 6.40% | 6.17% | 6.02% | 4.42% | 5.23% | 5.59% | 2.63% | 0.00% | 0.00% |
Frequently Asked Questions
SYBN.DE and XAT1.DE have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SYBN.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SYBN.DE is cheaper with a 0.12% expense ratio, compared with 0.39% for XAT1.DE.
SYBN.DE tracks Bloomberg US Corporate 10+, while XAT1.DE tracks Markit iBoxx USD Contingent Convertible Liquid Developed Market AT1 (8% Issuer Cap) TR Index - USD. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.12% for SYBN.DE and 0.39% for XAT1.DE.
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