UEEF.DE vs. GB1E.DE
UEEF.DE (iShares $ High Yield Corp Bond ESG SRI UCITS ETF EUR Hedged (Acc)) and GB1E.DE (Invesco Global High Yield Corporate Bond ESG Climate Transition UCITS ETF EUR PfHdg Acc) are both High Yield Bonds funds - UEEF.DE tracks the Bloomberg MSCI US Corporate High Yield ESG SRI Bond Index (EUR Hedged) while GB1E.DE tracks the Bloomberg MSCI Global High Yield Liquid Corporate Climate Transition ESG Bond Index. Both are passively managed. Over the past 3 years, UEEF.DE returned 6.52%/yr vs 6.43%/yr for GB1E.DE. A 0.73 correlation means they provide meaningful diversification when combined. UEEF.DE charges 0.27%/yr vs 0.30%/yr for GB1E.DE.
Performance
UEEF.DE vs. GB1E.DE - Performance Comparison
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Returns By Period
In the year-to-date period, UEEF.DE achieves a 0.70% return, which is significantly lower than GB1E.DE's 1.22% return.
UEEF.DE
- 1D
- -0.17%
- 1M
- 0.52%
- 6M
- 0.87%
- YTD
- 0.70%
- 1Y
- 3.21%
- 3Y*
- 6.52%
- 5Y*
- 1.44%
- 10Y*
- —
GB1E.DE
- 1D
- 0.00%
- 1M
- 0.53%
- 6M
- 1.23%
- YTD
- 1.22%
- 1Y
- 3.23%
- 3Y*
- 6.43%
- 5Y*
- —
- 10Y*
- —
UEEF.DE vs. GB1E.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
UEEF.DE iShares $ High Yield Corp Bond ESG SRI UCITS ETF EUR Hedged (Acc) | 0.70% | 6.88% | 5.91% | 6.72% |
GB1E.DE Invesco Global High Yield Corporate Bond ESG Climate Transition UCITS ETF EUR PfHdg Acc | 1.22% | 5.84% | 5.89% | 6.74% |
Correlation
The correlation between UEEF.DE and GB1E.DE is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Apr 12, 2023 | 0.73 |
The correlation between UEEF.DE and GB1E.DE has been stable across timeframes, ranging from 0.68 to 0.73 - a consistent structural relationship.
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Return for Risk
UEEF.DE vs. GB1E.DE — Risk / Return Rank
UEEF.DE
GB1E.DE
UEEF.DE vs. GB1E.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ High Yield Corp Bond ESG SRI UCITS ETF EUR Hedged (Acc) (UEEF.DE) and Invesco Global High Yield Corporate Bond ESG Climate Transition UCITS ETF EUR PfHdg Acc (GB1E.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.
| UEEF.DE | GB1E.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.16 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | 1.04 | +0.11 |
| Martin ratioReturn relative to average drawdown | 4.84 | 4.32 | +0.52 |
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Drawdowns
UEEF.DE vs. GB1E.DE - Drawdown Comparison
The maximum UEEF.DE drawdown since its inception was -17.83%, which is greater than GB1E.DE's maximum drawdown of -4.31%. Use the drawdown chart below to compare losses from any high point for UEEF.DE and GB1E.DE.
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Drawdown Indicators
| UEEF.DE | GB1E.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.83% | -4.31% | -13.52% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -3.10% | +0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -5.10% | -4.31% | -0.79% |
Max Drawdown (5Y)Largest decline over 5 years | -17.83% | — | — |
Current DrawdownCurrent decline from peak | -0.17% | -0.08% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -4.89% | -0.55% | -4.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 0.75% | -0.10% |
Volatility
UEEF.DE vs. GB1E.DE - Volatility Comparison
iShares $ High Yield Corp Bond ESG SRI UCITS ETF EUR Hedged (Acc) (UEEF.DE) has a higher volatility of 1.20% compared to Invesco Global High Yield Corporate Bond ESG Climate Transition UCITS ETF EUR PfHdg Acc (GB1E.DE) at 1.05%. This indicates that UEEF.DE's price experiences larger fluctuations and is considered to be riskier than GB1E.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UEEF.DE | GB1E.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 1.05% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 3.80% | 3.46% | +0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.53% | 3.94% | +0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.11% | 4.26% | +2.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.78% | 4.26% | +2.52% |
UEEF.DE vs. GB1E.DE - Expense Ratio Comparison
UEEF.DE has a 0.27% expense ratio, which is lower than GB1E.DE's 0.30% expense ratio.
Dividends
UEEF.DE vs. GB1E.DE - Dividend Comparison
Neither UEEF.DE nor GB1E.DE has paid dividends to shareholders.
Frequently Asked Questions
UEEF.DE and GB1E.DE have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UEEF.DE is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UEEF.DE is cheaper with a 0.27% expense ratio, compared with 0.30% for GB1E.DE.
UEEF.DE tracks Bloomberg MSCI US Corporate High Yield ESG SRI Bond Index (EUR Hedged), while GB1E.DE tracks Bloomberg MSCI Global High Yield Liquid Corporate Climate Transition ESG Bond Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.27% for UEEF.DE and 0.30% for GB1E.DE.
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