UKCO.L vs. IEAC.L
UKCO.L (SPDR Bloomberg Sterling Corporate Bond UCITS ETF) and IEAC.L (iShares Core € Corp Bond UCITS ETF EUR (Dist)) are both European Corporate Bonds funds - UKCO.L tracks the Markit iBoxx GBP NonGilts TR while IEAC.L tracks the BBG Euro Corporate Index (EUR). Both are passively managed. Over the past 10 years, UKCO.L returned 1.28%/yr vs 0.74%/yr for IEAC.L. At a 0.35 correlation, their price movements are largely independent. UKCO.L charges 0.20%/yr vs 0.09%/yr for IEAC.L.
Performance
UKCO.L vs. IEAC.L - Performance Comparison
Loading charts...
Different Trading Currencies
UKCO.L is traded in GBP, while IEAC.L is traded in EUR. To make them comparable, the IEAC.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, UKCO.L achieves a -0.09% return, which is significantly higher than IEAC.L's -3.75% return. Over the past 10 years, UKCO.L has outperformed IEAC.L with an annualized return of 1.28%, while IEAC.L has yielded a comparatively lower 0.74% annualized return.
UKCO.L
- 1D
- 0.18%
- 1M
- -0.97%
- 6M
- -1.05%
- YTD
- -0.09%
- 1Y
- 3.80%
- 3Y*
- 5.89%
- 5Y*
- -1.17%
- 10Y*
- 1.28%
IEAC.L
- 1D
- 0.15%
- 1M
- -2.20%
- 6M
- -1.88%
- YTD
- -3.75%
- 1Y
- -1.98%
- 3Y*
- 3.24%
- 5Y*
- -0.61%
- 10Y*
- 0.74%
UKCO.L vs. IEAC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
UKCO.L SPDR Bloomberg Sterling Corporate Bond UCITS ETF | -0.09% | 6.81% | 1.66% | 8.84% | -19.34% | -3.36% | 8.76% | 11.27% | -2.43% | 4.28% |
IEAC.L iShares Core € Corp Bond UCITS ETF EUR (Dist) | -3.75% | 8.75% | -0.42% | 5.28% | -8.88% | -6.93% | 8.41% | 0.17% | -0.49% | 6.56% |
Correlation
The correlation between UKCO.L and IEAC.L is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since May 17, 2012 | 0.35 |
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
UKCO.L vs. IEAC.L — Risk / Return Rank
UKCO.L
IEAC.L
UKCO.L vs. IEAC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Sterling Corporate Bond UCITS ETF (UKCO.L) and iShares Core € Corp Bond UCITS ETF EUR (Dist) (IEAC.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.
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.
| UKCO.L | IEAC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.09 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | -0.08 | +0.99 |
| Martin ratioReturn relative to average drawdown | 2.52 | -0.65 | +3.16 |
Loading charts...
Drawdowns
UKCO.L vs. IEAC.L - Drawdown Comparison
The maximum UKCO.L drawdown since its inception was -30.78%, which is greater than IEAC.L's maximum drawdown of -27.44%. Use the drawdown chart below to compare losses from any high point for UKCO.L and IEAC.L.
Loading charts...
Drawdown Indicators
| UKCO.L | IEAC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.78% | -27.44% | -3.34% |
Max Drawdown (1Y)Largest decline over 1 year | -4.19% | -24.20% | +20.01% |
Max Drawdown (3Y)Largest decline over 3 years | -4.19% | -24.20% | +20.01% |
Max Drawdown (5Y)Largest decline over 5 years | -29.89% | -24.20% | -5.69% |
Max Drawdown (10Y)Largest decline over 10 years | -30.78% | -27.44% | -3.34% |
Current DrawdownCurrent decline from peak | -8.24% | -9.18% | +0.94% |
Average DrawdownAverage peak-to-trough decline | -6.38% | -7.42% | +1.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.51% | 3.04% | -1.53% |
Volatility
UKCO.L vs. IEAC.L - Volatility Comparison
SPDR Bloomberg Sterling Corporate Bond UCITS ETF (UKCO.L) has a higher volatility of 1.53% compared to iShares Core € Corp Bond UCITS ETF EUR (Dist) (IEAC.L) at 1.33%. This indicates that UKCO.L's price experiences larger fluctuations and is considered to be riskier than IEAC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| UKCO.L | IEAC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.53% | 1.33% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 4.93% | 36.34% | -31.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.76% | 36.52% | -30.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.83% | 17.39% | -9.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.22% | 13.51% | -5.29% |
UKCO.L vs. IEAC.L - Expense Ratio Comparison
UKCO.L has a 0.20% expense ratio, which is higher than IEAC.L's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
UKCO.L vs. IEAC.L - Dividend Comparison
UKCO.L's dividend yield for the trailing twelve months is around 4.61%, more than IEAC.L's 1.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEAC.L iShares Core € Corp Bond UCITS ETF EUR (Dist) | 1.65% | 3.29% | 3.39% | 2.51% | 0.84% | 0.81% | 0.84% | 1.10% | 0.98% | 1.52% | 1.66% | 0.90% |
UKCO.L SPDR Bloomberg Sterling Corporate Bond UCITS ETF | 4.61% | 4.39% | 4.11% | 3.30% | 2.79% | 2.28% | 2.40% | 2.51% | 2.69% | 3.09% | 3.17% | 3.50% |
Frequently Asked Questions
UKCO.L and IEAC.L have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEAC.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEAC.L is cheaper with a 0.09% expense ratio, compared with 0.20% for UKCO.L.
UKCO.L tracks Markit iBoxx GBP NonGilts TR, while IEAC.L tracks BBG Euro Corporate Index (EUR). They also come from different issuers: State Street and iShares. Their fees differ too: 0.20% for UKCO.L and 0.09% for IEAC.L.
Find the right allocation for UKCO.L and IEAC.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