TCBT.DE vs. ICOM.L
TCBT.DE (VanEck iBoxx EUR Corporates UCITS ETF) and ICOM.L (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - TCBT.DE is a European Corporate Bonds fund tracking the iBoxx® SD-KPI EUR Liquid Corporates, while ICOM.L is a Commodities fund tracking the Bloomberg Commodity (Total Return Index). Both are passively managed. Over the past 5 years, TCBT.DE returned -0.18%/yr vs 12.09%/yr for ICOM.L. At a correlation of -0.04, they often move in opposite directions. TCBT.DE charges 0.15%/yr vs 0.19%/yr for ICOM.L.
Performance
TCBT.DE vs. ICOM.L - Performance Comparison
Loading charts...
Different Trading Currencies
TCBT.DE is traded in EUR, while ICOM.L is traded in USD. To make them comparable, the ICOM.L 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 ICOM.L's 26.16% 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*
- —
ICOM.L
- 1D
- -1.40%
- 1M
- -3.00%
- YTD
- 26.16%
- 6M
- 24.53%
- 1Y
- 35.35%
- 3Y*
- 12.59%
- 5Y*
- 12.09%
- 10Y*
- —
TCBT.DE vs. ICOM.L - 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% |
ICOM.L iShares Diversified Commodity Swap UCITS ETF | 26.17% | 2.64% | 12.00% | -10.82% | 21.94% | 36.55% | -11.68% | 9.16% | -7.31% |
Correlation
The correlation between TCBT.DE and ICOM.L is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2018 | -0.04 |
Over the past year, the inverse relationship between TCBT.DE and ICOM.L has strengthened: their correlation has moved from -0.04 to -0.28, meaning they now move in opposite directions more often than their long-term average.
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. ICOM.L — Risk / Return Rank
TCBT.DE
ICOM.L
TCBT.DE vs. ICOM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck iBoxx EUR Corporates UCITS ETF (TCBT.DE) and iShares Diversified Commodity Swap UCITS ETF (ICOM.L). 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 | ICOM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.62 | ||
| Sortino ratioReturn per unit of downside risk | -1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.35 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.40 | 4.20 | -3.80 |
| Martin ratioReturn relative to average drawdown | 1.19 | 9.36 | -8.17 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| TCBT.DE | ICOM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.30 | 1.92 | -1.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.04 | 0.71 | -0.74 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.54 | -0.36 |
Drawdowns
TCBT.DE vs. ICOM.L - Drawdown Comparison
The maximum TCBT.DE drawdown since its inception was -16.90%, smaller than the maximum ICOM.L drawdown of -27.93%. Use the drawdown chart below to compare losses from any high point for TCBT.DE and ICOM.L.
Loading charts...
Drawdown Indicators
| TCBT.DE | ICOM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.90% | -27.93% | +11.03% |
Max Drawdown (1Y)Largest decline over 1 year | -3.39% | -8.39% | +5.00% |
Max Drawdown (3Y)Largest decline over 3 years | -3.39% | -15.83% | +12.44% |
Max Drawdown (5Y)Largest decline over 5 years | -16.88% | -27.93% | +11.05% |
Current DrawdownCurrent decline from peak | -2.09% | -4.66% | +2.57% |
Average DrawdownAverage peak-to-trough decline | -5.10% | -12.70% | +7.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.13% | 3.77% | -2.64% |
Volatility
TCBT.DE vs. ICOM.L - Volatility Comparison
The current volatility for VanEck iBoxx EUR Corporates UCITS ETF (TCBT.DE) is 1.20%, while iShares Diversified Commodity Swap UCITS ETF (ICOM.L) has a volatility of 5.73%. This indicates that TCBT.DE experiences smaller price fluctuations and is considered to be less risky than ICOM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TCBT.DE | ICOM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 5.73% | -4.53% |
Volatility (6M)Calculated over the trailing 6-month period | 4.05% | 15.96% | -11.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.46% | 18.31% | -13.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.18% | 17.08% | -11.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.36% | 15.84% | -10.48% |
TCBT.DE vs. ICOM.L - Expense Ratio Comparison
TCBT.DE has a 0.15% expense ratio, which is lower than ICOM.L's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
TCBT.DE vs. ICOM.L - Dividend Comparison
TCBT.DE's dividend yield for the trailing twelve months is around 2.67%, while ICOM.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
ICOM.L iShares Diversified Commodity Swap UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TCBT.DE VanEck iBoxx EUR Corporates UCITS ETF | 2.67% | 2.45% | 2.39% | 1.12% | 1.39% | 0.75% | 1.00% | 1.07% |
Frequently Asked Questions
TCBT.DE and ICOM.L have a correlation of -0.28, 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 0.19% for ICOM.L.
TCBT.DE is categorized as European Corporate Bonds, while ICOM.L is Commodities. TCBT.DE tracks iBoxx® SD-KPI EUR Liquid Corporates, while ICOM.L tracks Bloomberg Commodity (Total Return Index). They also come from different issuers: VanEck and iShares. Their fees differ too: 0.15% for TCBT.DE and 0.19% for ICOM.L.
Find the right allocation for TCBT.DE and ICOM.L
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