TCBT.DE vs. EHBA.DE
TCBT.DE (VanEck iBoxx EUR Corporates UCITS ETF) and EHBA.DE (Invesco Euro Corporate Hybrid Bond UCITS ETF Acc) are both European Corporate Bonds funds - TCBT.DE tracks the iBoxx® SD-KPI EUR Liquid Corporates while EHBA.DE tracks the Bloomberg Euro Universal Corporate ex Financials Hybrid Capital Securities 8% Capped Bond Index. Both are passively managed. Over the past 5 years, TCBT.DE returned -0.33%/yr vs 1.70%/yr for EHBA.DE. At a 0.44 correlation, their price movements are largely independent. TCBT.DE charges 0.15%/yr vs 0.39%/yr for EHBA.DE.
Performance
TCBT.DE vs. EHBA.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TCBT.DE achieves a 0.17% return, which is significantly lower than EHBA.DE's 0.88% return.
TCBT.DE
- 1D
- 0.00%
- 1M
- -0.65%
- 6M
- -0.30%
- YTD
- 0.17%
- 1Y
- 0.87%
- 3Y*
- 3.58%
- 5Y*
- -0.33%
- 10Y*
- —
EHBA.DE
- 1D
- -0.04%
- 1M
- -0.13%
- 6M
- 0.24%
- YTD
- 0.88%
- 1Y
- 2.92%
- 3Y*
- 7.84%
- 5Y*
- 1.70%
- 10Y*
- —
TCBT.DE vs. EHBA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TCBT.DE VanEck iBoxx EUR Corporates UCITS ETF | 0.17% | 2.41% | 3.36% | 8.26% | -13.48% | -1.32% | 1.66% |
EHBA.DE Invesco Euro Corporate Hybrid Bond UCITS ETF Acc | 0.88% | 5.24% | 10.78% | 9.40% | -14.85% | 1.16% | 3.63% |
Correlation
The correlation between TCBT.DE and EHBA.DE is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Sep 17, 2020 | 0.44 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TCBT.DE vs. EHBA.DE — Risk / Return Rank
TCBT.DE
EHBA.DE
TCBT.DE vs. EHBA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck iBoxx EUR Corporates UCITS ETF (TCBT.DE) and Invesco Euro Corporate Hybrid Bond UCITS ETF Acc (EHBA.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.
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.
| TCBT.DE | EHBA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.13 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.22 | 0.76 | -0.53 |
| Martin ratioReturn relative to average drawdown | 0.62 | 2.66 | -2.04 |
Loading charts...
Drawdowns
TCBT.DE vs. EHBA.DE - Drawdown Comparison
The maximum TCBT.DE drawdown since its inception was -16.87%, smaller than the maximum EHBA.DE drawdown of -20.61%. Use the drawdown chart below to compare losses from any high point for TCBT.DE and EHBA.DE.
Loading charts...
Drawdown Indicators
| TCBT.DE | EHBA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.87% | -20.61% | +3.74% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -3.72% | +0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -3.34% | -3.72% | +0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -16.84% | -20.61% | +3.77% |
Current DrawdownCurrent decline from peak | -2.26% | -1.06% | -1.20% |
Average DrawdownAverage peak-to-trough decline | -5.05% | -5.49% | +0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 1.06% | +0.14% |
Volatility
TCBT.DE vs. EHBA.DE - Volatility Comparison
VanEck iBoxx EUR Corporates UCITS ETF (TCBT.DE) has a higher volatility of 1.89% compared to Invesco Euro Corporate Hybrid Bond UCITS ETF Acc (EHBA.DE) at 1.07%. This indicates that TCBT.DE's price experiences larger fluctuations and is considered to be riskier than EHBA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TCBT.DE | EHBA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.89% | 1.07% | +0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 4.36% | 3.68% | +0.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.72% | 4.20% | +0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.27% | 5.04% | +0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.55% | 4.82% | +0.73% |
TCBT.DE vs. EHBA.DE - Expense Ratio Comparison
TCBT.DE has a 0.15% expense ratio, which is lower than EHBA.DE's 0.39% expense ratio.
Dividends
TCBT.DE vs. EHBA.DE - Dividend Comparison
TCBT.DE's dividend yield for the trailing twelve months is around 2.68%, while EHBA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EHBA.DE Invesco Euro Corporate Hybrid Bond UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TCBT.DE VanEck iBoxx EUR Corporates UCITS ETF | 2.68% | 2.45% | 2.39% | 1.12% | 1.39% | 0.75% | 1.00% | 1.07% | 0.28% |
Frequently Asked Questions
TCBT.DE and EHBA.DE have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TCBT.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TCBT.DE is cheaper with a 0.15% expense ratio, compared with 0.39% for EHBA.DE.
TCBT.DE tracks iBoxx® SD-KPI EUR Liquid Corporates, while EHBA.DE tracks Bloomberg Euro Universal Corporate ex Financials Hybrid Capital Securities 8% Capped Bond Index. They also come from different issuers: VanEck and Invesco. Their fees differ too: 0.15% for TCBT.DE and 0.39% for EHBA.DE.
Find the right allocation for TCBT.DE and EHBA.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer