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 (Euro / U.S. Dollar) is a currency. Over the past 5 years, TCBT.DE returned -0.33%/yr vs 0.01%/yr for EURUSD=X. At a 0.02 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
TCBT.DE
- 1D
- 0.00%
- 1M
- -0.65%
- 6M
- -0.30%
- YTD
- 0.17%
- 1Y
- 0.87%
- 3Y*
- 3.58%
- 5Y*
- -0.33%
- 10Y*
- —
EURUSD=X
- 1D
- -0.01%
- 1M
- 0.03%
- 6M
- -0.00%
- YTD
- 0.00%
- 1Y
- -0.03%
- 3Y*
- 0.00%
- 5Y*
- 0.01%
- 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 | 0.17% | 2.41% | 3.36% | 8.26% | -13.48% | -1.32% | 2.33% | 6.97% | 0.62% |
EURUSD=X Euro / U.S. Dollar | 0.00% | -0.03% | 0.01% | 0.07% | -0.18% | 0.16% | -0.12% | 0.27% | -0.17% |
Correlation
The correlation between TCBT.DE and EURUSD=X is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.05 |
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 11, 2018 | 0.02 |
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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 Euro / U.S. Dollar (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.
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 | EURUSD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 0.99 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.22 | -0.05 | +0.28 |
| Martin ratioReturn relative to average drawdown | 0.62 | -0.24 | +0.86 |
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Drawdowns
TCBT.DE vs. EURUSD=X - Drawdown Comparison
The maximum TCBT.DE drawdown since its inception was -16.87%, 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 | -16.87% | -1.76% | -15.11% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -0.43% | -2.91% |
Max Drawdown (3Y)Largest decline over 3 years | -3.34% | -0.81% | -2.53% |
Max Drawdown (5Y)Largest decline over 5 years | -16.84% | -0.81% | -16.03% |
Max Drawdown (10Y)Largest decline over 10 years | — | -1.22% | — |
Current DrawdownCurrent decline from peak | -2.26% | -0.74% | -1.52% |
Average DrawdownAverage peak-to-trough decline | -5.05% | -0.72% | -4.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 0.09% | +1.11% |
Volatility
TCBT.DE vs. EURUSD=X - Volatility Comparison
VanEck iBoxx EUR Corporates UCITS ETF (TCBT.DE) has a higher volatility of 1.89% compared to Euro / U.S. Dollar (EURUSD=X) at 0.15%. 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 | 1.89% | 0.15% | +1.74% |
Volatility (6M)Calculated over the trailing 6-month period | 4.36% | 0.60% | +3.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.72% | 0.75% | +3.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.27% | 0.74% | +4.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.55% | 1.14% | +4.41% |
Frequently Asked Questions
TCBT.DE and EURUSD=X have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for TCBT.DE and EURUSD=X
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