XAT1.DE vs. IS0Y.DE
XAT1.DE (Invesco AT1 Capital Bond ETF EUR Hedged Dist) and IS0Y.DE (iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist)) are both Corporate Bonds funds - XAT1.DE tracks the Markit iBoxx USD Contingent Convertible Liquid Developed Market AT1 (8% Issuer Cap) TR Index - USD while IS0Y.DE tracks the Bloomberg MSCI EUR Corporate Interest Rate Hedged ESG SRI Index. Both are passively managed. Over the past 5 years, XAT1.DE returned 0.68%/yr vs 2.73%/yr for IS0Y.DE. At a 0.46 correlation, their price movements are largely independent. XAT1.DE charges 0.39%/yr vs 0.25%/yr for IS0Y.DE.
Performance
XAT1.DE vs. IS0Y.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XAT1.DE achieves a 0.81% return, which is significantly lower than IS0Y.DE's 1.40% return.
XAT1.DE
- 1D
- 0.00%
- 1M
- 0.06%
- 6M
- 0.39%
- YTD
- 0.81%
- 1Y
- 4.86%
- 3Y*
- 8.49%
- 5Y*
- 0.68%
- 10Y*
- —
IS0Y.DE
- 1D
- -0.01%
- 1M
- -0.02%
- 6M
- 1.29%
- YTD
- 1.40%
- 1Y
- 3.02%
- 3Y*
- 5.12%
- 5Y*
- 2.73%
- 10Y*
- 1.57%
XAT1.DE vs. IS0Y.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
XAT1.DE Invesco AT1 Capital Bond ETF EUR Hedged Dist | 0.81% | 8.65% | 8.27% | 0.01% | -12.09% | 2.57% | 5.81% | 14.57% | -1.46% |
IS0Y.DE iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) | 1.40% | 4.15% | 6.61% | 5.08% | -2.70% | -0.25% | 0.80% | 4.09% | -1.89% |
Correlation
The correlation between XAT1.DE and IS0Y.DE is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2018 | 0.46 |
Over the past year, the correlation between XAT1.DE and IS0Y.DE has dropped to 0.24 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.
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Return for Risk
XAT1.DE vs. IS0Y.DE — Risk / Return Rank
XAT1.DE
IS0Y.DE
XAT1.DE vs. IS0Y.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco AT1 Capital Bond ETF EUR Hedged Dist (XAT1.DE) and iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) (IS0Y.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.
| XAT1.DE | IS0Y.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.25 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | 2.96 | -1.63 |
| Martin ratioReturn relative to average drawdown | 5.15 | 11.26 | -6.11 |
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Drawdowns
XAT1.DE vs. IS0Y.DE - Drawdown Comparison
The maximum XAT1.DE drawdown since its inception was -28.81%, which is greater than IS0Y.DE's maximum drawdown of -13.95%. Use the drawdown chart below to compare losses from any high point for XAT1.DE and IS0Y.DE.
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Drawdown Indicators
| XAT1.DE | IS0Y.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.81% | -13.95% | -14.86% |
Max Drawdown (1Y)Largest decline over 1 year | -3.64% | -1.02% | -2.62% |
Max Drawdown (3Y)Largest decline over 3 years | -4.62% | -2.07% | -2.55% |
Max Drawdown (5Y)Largest decline over 5 years | -27.73% | -6.97% | -20.76% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.95% | — |
Current DrawdownCurrent decline from peak | -0.86% | -0.13% | -0.73% |
Average DrawdownAverage peak-to-trough decline | -6.27% | -1.32% | -4.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.27% | +0.67% |
Volatility
XAT1.DE vs. IS0Y.DE - Volatility Comparison
Invesco AT1 Capital Bond ETF EUR Hedged Dist (XAT1.DE) has a higher volatility of 1.34% compared to iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) (IS0Y.DE) at 0.37%. This indicates that XAT1.DE's price experiences larger fluctuations and is considered to be riskier than IS0Y.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XAT1.DE | IS0Y.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.34% | 0.37% | +0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 4.65% | 1.73% | +2.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.13% | 2.20% | +2.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.19% | 2.85% | +5.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.30% | 3.69% | +6.61% |
XAT1.DE vs. IS0Y.DE - Expense Ratio Comparison
XAT1.DE has a 0.39% expense ratio, which is higher than IS0Y.DE's 0.25% expense ratio.
Dividends
XAT1.DE vs. IS0Y.DE - Dividend Comparison
XAT1.DE's dividend yield for the trailing twelve months is around 6.06%, more than IS0Y.DE's 2.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS0Y.DE iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) | 2.58% | 2.91% | 3.70% | 2.52% | 0.43% | 0.70% | 0.82% | 0.92% | 0.58% | 0.71% | 1.35% | 1.47% |
XAT1.DE Invesco AT1 Capital Bond ETF EUR Hedged Dist | 6.06% | 5.95% | 6.41% | 6.17% | 6.02% | 4.42% | 5.23% | 5.59% | 2.62% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XAT1.DE and IS0Y.DE have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IS0Y.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS0Y.DE is cheaper with a 0.25% expense ratio, compared with 0.39% for XAT1.DE.
XAT1.DE tracks Markit iBoxx USD Contingent Convertible Liquid Developed Market AT1 (8% Issuer Cap) TR Index - USD, while IS0Y.DE tracks Bloomberg MSCI EUR Corporate Interest Rate Hedged ESG SRI Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.39% for XAT1.DE and 0.25% for IS0Y.DE.
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