XZE5.L vs. IGCB.L
XZE5.L (Xtrackers II EUR Corporate Bond Short Duration SRI PAB UCITS ETF 1C) and IGCB.L (Invesco GBP Corporate Bond UCITS ETF Dist) are both European Corporate Bonds funds - XZE5.L tracks the Bloomberg Euro Corp TR EUR while IGCB.L tracks the Markit iBoxx GBP NonGilts TR. Both are passively managed. At a 0.25 correlation, their price movements are largely independent. XZE5.L charges 0.16%/yr vs 0.10%/yr for IGCB.L.
Performance
XZE5.L vs. IGCB.L - Performance Comparison
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Different Trading Currencies
XZE5.L is traded in GBP, while IGCB.L is traded in GBp. To make them comparable, the IGCB.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
XZE5.L
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IGCB.L
- 1D
- 0.24%
- 1M
- 1.78%
- YTD
- -0.24%
- 6M
- 0.09%
- 1Y
- 4.63%
- 3Y*
- 6.06%
- 5Y*
- -0.66%
- 10Y*
- —
XZE5.L vs. IGCB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XZE5.L Xtrackers II EUR Corporate Bond Short Duration SRI PAB UCITS ETF 1C | -0.42% | 8.64% | -0.59% | 3.12% | -1.52% | -6.82% | -0.17% |
IGCB.L Invesco GBP Corporate Bond UCITS ETF Dist | -0.24% | 6.83% | 1.93% | 9.20% | -18.57% | -4.00% | 3.74% |
Correlation
The correlation between XZE5.L and IGCB.L is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jul 30, 2020 | 0.25 |
The correlation between XZE5.L and IGCB.L shifts across timeframes, from 0.10 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XZE5.L vs. IGCB.L — Risk / Return Rank
XZE5.L
IGCB.L
XZE5.L vs. IGCB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II EUR Corporate Bond Short Duration SRI PAB UCITS ETF 1C (XZE5.L) and Invesco GBP Corporate Bond UCITS ETF Dist (IGCB.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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| XZE5.L | IGCB.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 0.78 | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.09 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | — | 0.02 | — |
Drawdowns
XZE5.L vs. IGCB.L - Drawdown Comparison
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Drawdown Indicators
| XZE5.L | IGCB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -30.44% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -4.00% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.00% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.39% | — |
Current DrawdownCurrent decline from peak | — | -7.54% | — |
Average DrawdownAverage peak-to-trough decline | — | -11.31% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.38% | — |
Volatility
XZE5.L vs. IGCB.L - Volatility Comparison
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Volatility by Period
| XZE5.L | IGCB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.17% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 4.95% | — |
Volatility (1Y)Calculated over the trailing 1-year period | — | 5.93% | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | — | 7.65% | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | — | 7.73% | — |
XZE5.L vs. IGCB.L - Expense Ratio Comparison
XZE5.L has a 0.16% expense ratio, which is higher than IGCB.L's 0.10% 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
XZE5.L vs. IGCB.L - Dividend Comparison
XZE5.L has not paid dividends to shareholders, while IGCB.L's dividend yield for the trailing twelve months is around 5.27%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
IGCB.L Invesco GBP Corporate Bond UCITS ETF Dist | 5.27% | 5.18% | 5.18% | 4.26% | 2.54% | 1.74% | 1.22% |
XZE5.L Xtrackers II EUR Corporate Bond Short Duration SRI PAB UCITS ETF 1C | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XZE5.L and IGCB.L have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGCB.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGCB.L is cheaper with a 0.10% expense ratio, compared with 0.16% for XZE5.L.
XZE5.L tracks Bloomberg Euro Corp TR EUR, while IGCB.L tracks Markit iBoxx GBP NonGilts TR. They also come from different issuers: Xtrackers and Invesco. Their fees differ too: 0.16% for XZE5.L and 0.10% for IGCB.L.
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