TGBT.DE vs. IBCM.DE
TGBT.DE (VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF) and IBCM.DE (iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist)) are both European Government Bonds funds - TGBT.DE tracks the iBoxx® EUR Liquid Sovereigns Diversified 1-10 while IBCM.DE tracks the Bloomberg Euro Government Bond 10. Both are passively managed. Over the past 5 years, TGBT.DE returned -2.05%/yr vs -2.34%/yr for IBCM.DE. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.15% expense ratio.
Performance
TGBT.DE vs. IBCM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, TGBT.DE achieves a -0.51% return, which is significantly lower than IBCM.DE's 0.27% return.
TGBT.DE
- 1D
- 0.11%
- 1M
- 0.02%
- YTD
- -0.51%
- 6M
- 0.56%
- 1Y
- 0.78%
- 3Y*
- 2.64%
- 5Y*
- -2.05%
- 10Y*
- —
IBCM.DE
- 1D
- 0.06%
- 1M
- 0.02%
- YTD
- 0.27%
- 6M
- 0.03%
- 1Y
- 0.68%
- 3Y*
- 2.61%
- 5Y*
- -2.34%
- 10Y*
- -0.17%
TGBT.DE vs. IBCM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
TGBT.DE VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF | -0.51% | 2.54% | 1.35% | 7.34% | -18.19% | -2.64% | 3.34% | 5.03% | 0.26% |
IBCM.DE iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | 0.27% | 1.53% | 0.84% | 8.74% | -19.91% | -3.09% | 4.08% | 6.64% | 0.63% |
Correlation
The correlation between TGBT.DE and IBCM.DE is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2018 | 0.96 |
The correlation between TGBT.DE and IBCM.DE shifts across timeframes, from 0.80 (1 year) to 0.96 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TGBT.DE vs. IBCM.DE — Risk / Return Rank
TGBT.DE
IBCM.DE
TGBT.DE vs. IBCM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF (TGBT.DE) and iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBCM.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.
| TGBT.DE | IBCM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.01 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | 0.03 | +0.08 |
| Martin ratioReturn relative to average drawdown | 0.29 | 0.08 | +0.21 |
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
| TGBT.DE | IBCM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.08 | 0.03 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.32 | -0.31 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.03 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.09 | 0.59 | -0.68 |
Drawdowns
TGBT.DE vs. IBCM.DE - Drawdown Comparison
The maximum TGBT.DE drawdown since its inception was -21.36%, smaller than the maximum IBCM.DE drawdown of -23.25%. Use the drawdown chart below to compare losses from any high point for TGBT.DE and IBCM.DE.
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Drawdown Indicators
| TGBT.DE | IBCM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.36% | -23.25% | +1.89% |
Max Drawdown (1Y)Largest decline over 1 year | -3.32% | -4.08% | +0.76% |
Max Drawdown (3Y)Largest decline over 3 years | -3.56% | -4.53% | +0.97% |
Max Drawdown (5Y)Largest decline over 5 years | -21.12% | -22.90% | +1.78% |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.25% | — |
Current DrawdownCurrent decline from peak | -11.91% | -13.71% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -9.23% | -5.23% | -4.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 1.53% | -0.27% |
Volatility
TGBT.DE vs. IBCM.DE - Volatility Comparison
The current volatility for VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF (TGBT.DE) is 1.55%, while iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBCM.DE) has a volatility of 1.94%. This indicates that TGBT.DE experiences smaller price fluctuations and is considered to be less risky than IBCM.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TGBT.DE | IBCM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.55% | 1.94% | -0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 3.94% | 4.20% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.44% | 5.00% | -0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.38% | 7.39% | -1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.67% | 6.03% | -0.36% |
TGBT.DE vs. IBCM.DE - Expense Ratio Comparison
Both TGBT.DE and IBCM.DE have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
TGBT.DE vs. IBCM.DE - Dividend Comparison
TGBT.DE's dividend yield for the trailing twelve months is around 1.95%, less than IBCM.DE's 2.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBCM.DE iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) | 2.92% | 2.82% | 2.73% | 1.97% | 0.13% | 0.00% | 0.09% | 0.63% | 0.75% | 0.76% | 0.80% | 1.09% |
TGBT.DE VanEck iBoxx EUR Sovereign Diversified 1-10 UCITS ETF | 1.95% | 2.17% | 1.13% | 0.57% | 0.60% | 0.77% | 0.75% | 0.35% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TGBT.DE and IBCM.DE have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
TGBT.DE and IBCM.DE have the same expense ratio: 0.15% per year.
TGBT.DE tracks iBoxx® EUR Liquid Sovereigns Diversified 1-10, while IBCM.DE tracks Bloomberg Euro Government Bond 10. They also come from different issuers: VanEck and iShares.
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