VGEA.DE vs. IBCM.DE
VGEA.DE (Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating) and IBCM.DE (iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist)) are both European Government Bonds funds - VGEA.DE tracks the Bloomberg Euro Aggregate Treasury while IBCM.DE tracks the Bloomberg Euro Government Bond 10. Both are passively managed. Over the past 5 years, VGEA.DE returned -2.24%/yr vs -2.34%/yr for IBCM.DE. Their correlation of 0.92 suggests significant overlap in exposure. VGEA.DE charges 0.07%/yr vs 0.15%/yr for IBCM.DE.
Performance
VGEA.DE vs. IBCM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VGEA.DE achieves a 0.11% return, which is significantly lower than IBCM.DE's 0.27% return.
VGEA.DE
- 1D
- 0.06%
- 1M
- -0.02%
- YTD
- 0.11%
- 6M
- 0.18%
- 1Y
- 0.33%
- 3Y*
- 2.38%
- 5Y*
- -2.24%
- 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%
VGEA.DE vs. IBCM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | 0.11% | 0.67% | 1.54% | 6.93% | -18.30% | -3.32% | 4.81% | 5.94% |
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% | 5.38% |
Correlation
The correlation between VGEA.DE and IBCM.DE is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2019 | 0.92 |
The correlation between VGEA.DE and IBCM.DE has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.
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Return for Risk
VGEA.DE vs. IBCM.DE — Risk / Return Rank
VGEA.DE
IBCM.DE
VGEA.DE vs. IBCM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.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.
| VGEA.DE | IBCM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.01 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 0.03 | -0.05 |
| Martin ratioReturn relative to average drawdown | -0.04 | 0.08 | -0.12 |
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
| VGEA.DE | IBCM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.01 | 0.03 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.35 | -0.31 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.03 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.10 | 0.59 | -0.68 |
Drawdowns
VGEA.DE vs. IBCM.DE - Drawdown Comparison
The maximum VGEA.DE drawdown since its inception was -22.34%, roughly equal to the maximum IBCM.DE drawdown of -23.25%. Use the drawdown chart below to compare losses from any high point for VGEA.DE and IBCM.DE.
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Drawdown Indicators
| VGEA.DE | IBCM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.34% | -23.25% | +0.91% |
Max Drawdown (1Y)Largest decline over 1 year | -3.44% | -4.08% | +0.64% |
Max Drawdown (3Y)Largest decline over 3 years | -4.00% | -4.53% | +0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -21.47% | -22.90% | +1.43% |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.25% | — |
Current DrawdownCurrent decline from peak | -13.91% | -13.71% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -10.30% | -5.23% | -5.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 1.53% | -0.20% |
Volatility
VGEA.DE vs. IBCM.DE - Volatility Comparison
The current volatility for Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE) is 1.67%, while iShares Euro Government Bond 7-10yr UCITS ETF EUR (Dist) (IBCM.DE) has a volatility of 1.94%. This indicates that VGEA.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
| VGEA.DE | IBCM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 1.94% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 3.62% | 4.20% | -0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.33% | 5.00% | -0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.39% | 7.39% | -1.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.86% | 6.03% | -0.17% |
VGEA.DE vs. IBCM.DE - Expense Ratio Comparison
VGEA.DE has a 0.07% expense ratio, which is lower than IBCM.DE's 0.15% 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
VGEA.DE vs. IBCM.DE - Dividend Comparison
VGEA.DE has not paid dividends to shareholders, while IBCM.DE's dividend yield for the trailing twelve months is around 2.92%.
| 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% |
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, VGEA.DE and IBCM.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, VGEA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEA.DE is cheaper with a 0.07% expense ratio, compared with 0.15% for IBCM.DE.
VGEA.DE tracks Bloomberg Euro Aggregate Treasury, while IBCM.DE tracks Bloomberg Euro Government Bond 10. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.07% for VGEA.DE and 0.15% for IBCM.DE.
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