TCBT.DE vs. ^TNX
TCBT.DE (VanEck iBoxx EUR Corporates UCITS ETF) is European Corporate Bonds fund tracking the iBoxx® SD-KPI EUR Liquid Corporates, while ^TNX (Treasury Yield 10 Years) is an index. Over the past 5 years, TCBT.DE returned -0.18%/yr vs 24.62%/yr for ^TNX. At a correlation of -0.40, they often move in opposite directions.
Performance
TCBT.DE vs. ^TNX - Performance Comparison
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Different Trading Currencies
TCBT.DE is traded in EUR, while ^TNX is traded in USD. To make them comparable, the ^TNX values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, TCBT.DE achieves a 0.36% return, which is significantly lower than ^TNX's 8.77% return.
TCBT.DE
- 1D
- -0.09%
- 1M
- 0.63%
- YTD
- 0.36%
- 6M
- 0.02%
- 1Y
- 1.34%
- 3Y*
- 3.98%
- 5Y*
- -0.18%
- 10Y*
- —
^TNX
- 1D
- -0.45%
- 1M
- 3.96%
- YTD
- 8.77%
- 6M
- 8.42%
- 1Y
- 0.40%
- 3Y*
- 3.79%
- 5Y*
- 24.62%
- 10Y*
- 9.78%
TCBT.DE vs. ^TNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TCBT.DE VanEck iBoxx EUR Corporates UCITS ETF | 0.36% | 2.42% | 3.35% | 8.23% | -13.49% | -1.27% | 2.29% | 6.99% | 0.16% |
^TNX Treasury Yield 10 Years | 8.77% | -19.77% | 26.10% | -3.32% | 172.45% | 77.22% | -56.15% | -26.94% | -7.90% |
Correlation
The correlation between TCBT.DE and ^TNX is -0.48, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.53 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2018 | -0.40 |
The correlation between TCBT.DE and ^TNX shifts across timeframes, from -0.53 (5 years) to -0.40 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TCBT.DE vs. ^TNX — Risk / Return Rank
TCBT.DE
^TNX
TCBT.DE vs. ^TNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck iBoxx EUR Corporates UCITS ETF (TCBT.DE) and Treasury Yield 10 Years (^TNX). 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.
| TCBT.DE | ^TNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.02 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.40 | 0.06 | +0.34 |
| Martin ratioReturn relative to average drawdown | 1.19 | 0.09 | +1.10 |
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
| TCBT.DE | ^TNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.30 | 0.05 | +0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.04 | 0.71 | -0.74 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.20 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.02 | +0.17 |
Drawdowns
TCBT.DE vs. ^TNX - Drawdown Comparison
The maximum TCBT.DE drawdown since its inception was -16.90%, smaller than the maximum ^TNX drawdown of -87.07%. Use the drawdown chart below to compare losses from any high point for TCBT.DE and ^TNX.
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Drawdown Indicators
| TCBT.DE | ^TNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.90% | -87.07% | +70.17% |
Max Drawdown (1Y)Largest decline over 1 year | -3.39% | -15.34% | +11.95% |
Max Drawdown (3Y)Largest decline over 3 years | -3.39% | -30.99% | +27.60% |
Max Drawdown (5Y)Largest decline over 5 years | -16.88% | -30.99% | +14.11% |
Max Drawdown (10Y)Largest decline over 10 years | — | -84.69% | — |
Current DrawdownCurrent decline from peak | -2.09% | -18.22% | +16.13% |
Average DrawdownAverage peak-to-trough decline | -5.10% | -37.81% | +32.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 9.03% | -7.90% |
Volatility
TCBT.DE vs. ^TNX - Volatility Comparison
The current volatility for VanEck iBoxx EUR Corporates UCITS ETF (TCBT.DE) is 1.20%, while Treasury Yield 10 Years (^TNX) has a volatility of 5.93%. This indicates that TCBT.DE experiences smaller price fluctuations and is considered to be less risky than ^TNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TCBT.DE | ^TNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 5.93% | -4.73% |
Volatility (6M)Calculated over the trailing 6-month period | 4.05% | 12.59% | -8.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.46% | 18.93% | -14.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.18% | 35.03% | -29.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.36% | 49.77% | -44.41% |
Frequently Asked Questions
TCBT.DE and ^TNX have a correlation of -0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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