TCBT.DE vs. EURUSD=X
TCBT.DE (VanEck iBoxx EUR Corporates UCITS ETF) is European Corporate Bonds fund tracking the iBoxx® SD-KPI EUR Liquid Corporates, while EURUSD=X (EUR/USD) is a currency. Over the past 5 years, TCBT.DE returned -0.18%/yr vs -0.00%/yr for EURUSD=X. At a 0.01 correlation, their price movements are largely independent.
Performance
TCBT.DE vs. EURUSD=X - Performance Comparison
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Different Trading Currencies
TCBT.DE is traded in EUR, while EURUSD=X is traded in USD. To make them comparable, the EURUSD=X 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 higher than EURUSD=X's 0.02% return.
TCBT.DE
- 1D
- -0.09%
- 1M
- -0.28%
- YTD
- 0.36%
- 6M
- 0.13%
- 1Y
- 1.72%
- 3Y*
- 3.98%
- 5Y*
- -0.18%
- 10Y*
- —
EURUSD=X
- 1D
- 0.03%
- 1M
- 0.01%
- YTD
- 0.02%
- 6M
- -0.00%
- 1Y
- 0.02%
- 3Y*
- 0.01%
- 5Y*
- -0.00%
- 10Y*
- 0.00%
TCBT.DE vs. EURUSD=X - 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% |
EURUSD=X EUR/USD | 0.02% | -0.03% | 0.01% | 0.07% | -0.18% | 0.16% | -0.12% | 0.27% | -0.16% |
Correlation
The correlation between TCBT.DE and EURUSD=X is -0.11, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2018 | 0.01 |
The correlation between TCBT.DE and EURUSD=X shifts across timeframes, from -0.11 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TCBT.DE vs. EURUSD=X — Risk / Return Rank
TCBT.DE
EURUSD=X
TCBT.DE vs. EURUSD=X - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck iBoxx EUR Corporates UCITS ETF (TCBT.DE) and EUR/USD (EURUSD=X). 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 | EURUSD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.00 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.40 | 0.03 | +0.37 |
| Martin ratioReturn relative to average drawdown | 1.19 | 0.15 | +1.04 |
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 | EURUSD=X | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.30 | 0.02 | +0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.04 | -0.00 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.00 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.00 | +0.18 |
Drawdowns
TCBT.DE vs. EURUSD=X - Drawdown Comparison
The maximum TCBT.DE drawdown since its inception was -16.90%, which is greater than EURUSD=X's maximum drawdown of -1.76%. Use the drawdown chart below to compare losses from any high point for TCBT.DE and EURUSD=X.
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Drawdown Indicators
| TCBT.DE | EURUSD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.90% | -1.76% | -15.14% |
Max Drawdown (1Y)Largest decline over 1 year | -3.39% | -0.43% | -2.96% |
Max Drawdown (3Y)Largest decline over 3 years | -3.39% | -0.81% | -2.58% |
Max Drawdown (5Y)Largest decline over 5 years | -16.88% | -0.81% | -16.07% |
Max Drawdown (10Y)Largest decline over 10 years | — | -1.22% | — |
Current DrawdownCurrent decline from peak | -2.09% | -0.72% | -1.37% |
Average DrawdownAverage peak-to-trough decline | -5.10% | -0.72% | -4.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 0.09% | +1.04% |
Volatility
TCBT.DE vs. EURUSD=X - Volatility Comparison
VanEck iBoxx EUR Corporates UCITS ETF (TCBT.DE) has a higher volatility of 1.20% compared to EUR/USD (EURUSD=X) at 0.23%. This indicates that TCBT.DE's price experiences larger fluctuations and is considered to be riskier than EURUSD=X 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 | EURUSD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 0.23% | +0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 4.05% | 0.56% | +3.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.46% | 0.75% | +3.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.18% | 0.74% | +4.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.36% | 1.15% | +4.21% |
Frequently Asked Questions
TCBT.DE and EURUSD=X have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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