iShares Euro Inflation Linked Government Bond (IBCI.DE): Historical Returns

Category: Fixed Income
Period: October 1989 - August 2024 (~35 years)
Consolidated Returns as of 31 August 2024
Currency: EUR
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1.00
Initial Capital
September 1994
3.35
Final Capital
August 2024
4.11%
Yearly Return
5.20
Std Deviation
-12.18%
Max Drawdown
29 months
Recovery Period
1.00
Initial Capital
October 1989
4.47
Final Capital
August 2024
4.38%
Yearly Return
5.20
Std Deviation
-12.18%
Max Drawdown
29 months
Recovery Period

The iShares Euro Inflation Linked Government Bond (IBCI.DE) ETF covers to the following investment themes:

  • Asset Class: Bond
  • Region: Eurozone
  • Country: Broad Eurozone
  • Bond - Duration: All-Term

As of August 2024, in the previous 30 Years, the iShares Euro Inflation Linked Government Bond (IBCI.DE) ETF obtained a 4.11% compound annual return, with a 5.20% standard deviation. It suffered a maximum drawdown of -12.18% that required 29 months to be recovered.

Table of contents
Disclaimer: The simulations on this website are provided in good faith but should NOT be taken as investment advice. We are not liable for any errors or actions based on this information. The authors of the website are not affiliated with the ETFs/Assets issuers. Content is for informational, educational, illustrative and entertainment purposes only.
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Investment Returns as of Aug 31, 2024

The iShares Euro Inflation Linked Government Bond (IBCI.DE) ETF guaranteed the following returns.

Returns are calculated in EUR, assuming:
  • no fees or capital gain taxes.
  • dividend reinvestment, when applicable.
  • the actual Euro Inflation rates.
ISHARES EURO INFLATION LINKED GOVERNMENT BOND (IBCI.DE) ETF
Time Period: 1 October 1989 - 31 August 2024 (~35 years)
Swipe left to see all data
  Chg (%) Return (%) Return (%) as of Aug 31, 2024
  1 Day Time ET(*) Sep 2024 YTD
(8M)
1M 6M 1Y 5Y 10Y 30Y MAX
(~35Y)
iShares Euro Inflation Linked Government Bond (IBCI.DE) ETF n.a. n.a. -1.39 -0.46 0.69 1.10 0.28 1.21 4.11 4.38
Euro Inflation Adjusted return -3.34 -0.46 -1.03 -0.92 -3.38 -1.16 2.02 2.06
Returns over 1 year are annualized
(*) Eastern Time (ET - America/New York)
Euro Inflation is updated to Jul 2024. Pending updates, the monthly inflation is set at 0% for the subsequent periods. Inflation (annualized) is 1Y: 2.03% , 5Y: 3.79% , 10Y: 2.40% , 30Y: 2.05%
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Capital Growth as of Aug 31, 2024

An investment of 1€, from September 1994 to August 2024, would be worth 3.35€, with a total return of 235.19% (4.11% annualized).

The Inflation Adjusted Capital would be 1.82€, with a net total return of 82.18% (2.02% annualized).

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An investment of 1€, from October 1989 to August 2024, would be worth 4.47€, with a total return of 347.08% (4.38% annualized).

The Inflation Adjusted Capital would be 2.04€, with a net total return of 103.86% (2.06% annualized).

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Investment Metrics as of Aug 31, 2024

Metrics of iShares Euro Inflation Linked Government Bond (IBCI.DE) ETF, updated as of 31 August 2024, provide a comprehensive overview of the portfolio's performance and risk characteristics.

These metrics include detailed data on returns, volatility, drawdowns and other key performance indicators. By examining them, you can gain insights into how the portfolio has performed over various time periods and understand its risk profile.

Metrics are calculated based on monthly returns, assuming:
  • no fees or capital gain taxes.
  • dividend reinvestment, when applicable.
  • the actual Euro Inflation rates.
ISHARES EURO INFLATION LINKED GOVERNMENT BOND (IBCI.DE) ETF
Advanced Metrics
Time Period: 1 October 1989 - 31 August 2024 (~35 years)
Swipe left to see all data
Metrics as of Aug 31, 2024
YTD
(8M)
1M 3M 6M 1Y 3Y 5Y 10Y 20Y 30Y MAX
(~35Y)
Investment Return (%)
-1.39 -0.46 0.74 0.69 1.10 -1.10 0.28 1.21 2.81 4.11 4.38
Growth of 1€ 0.99 1.00 1.01 1.01 1.01 0.97 1.01 1.13 1.74 3.35 4.47
Infl. Adjusted Return (%)
-3.34 -0.46 0.55 -1.03 -0.92 -6.20 -3.38 -1.16 0.69 2.02 2.06
Euro Inflation (%) 2.02 0.00 0.18 1.74 2.03 5.43 3.79 2.40 2.11 2.05 2.27
Pending updates, the monthly inflation of Aug 2024 and beyond is set at 0%. Returns / Inflation rates over 1 year are annualized.
DRAWDOWN
Inflation Adjusted:
Inflation Adjusted:
Current 1Y 3Y 5Y 10Y 20Y 30Y MAX
Deepest Drawdown Depth (%) -6.70 -3.47 -12.18 -12.18 -12.18 -12.18 -12.18 -12.18
Start to Recovery (# months)
29* 4 29* 29* 29* 29* 29* 29*
Start (yyyy mm) 2023 09 2022 04 2022 04 2022 04 2022 04 2022 04 2022 04
Start to Bottom (# months) 1 6 6 6 6 6 6
Bottom (yyyy mm) 2023 09 2022 09 2022 09 2022 09 2022 09 2022 09 2022 09
Bottom to End (# months) 3 23 23 23 23 23 23
End (yyyy mm) 2023 12 - - - - - -
Longest Drawdown Depth (%) -2.68
same

same

same

same

same

same
Start to Recovery (# months)
8*
Start (yyyy mm) 2024 01 2022 04 2022 04 2022 04 2022 04 2022 04 2022 04
Start to Bottom (# months) 6 6 6 6 6 6 6
Bottom (yyyy mm) 2024 06 2022 09 2022 09 2022 09 2022 09 2022 09 2022 09
Bottom to End (# months) 2 23 23 23 23 23 23
End (yyyy mm) - - - - - - -
Longest negative period (# months)
10 36* 51 60 60 60 60
Start (yyyy mm) 2023 09 2021 09 2019 09 2015 04 2015 04 2015 04 2015 04
End (yyyy mm) 2024 06 2024 08 2023 11 2020 03 2020 03 2020 03 2020 03
Annualized Return (%) -0.27 -1.10 -0.11 -0.20 -0.20 -0.20 -0.20
Drawdowns / Negative periods marked with * are in progress
Deepest Drawdown Depth (%) -18.05 -4.63 -19.93 -20.42 -20.42 -20.42 -20.42 -20.42
Start to Recovery (# months)
37* 8* 33* 37* 37* 37* 37* 37*
Start (yyyy mm) 2024 01 2021 12 2021 08 2021 08 2021 08 2021 08 2021 08
Start to Bottom (# months) 6 22 26 26 26 26 26
Bottom (yyyy mm) 2024 06 2023 09 2023 09 2023 09 2023 09 2023 09 2023 09
Bottom to End (# months) 2 11 11 11 11 11 11
End (yyyy mm) - - - - - - -
Longest Drawdown Depth (%)
same

same

same

same
-10.34 -10.34 -10.34
Start to Recovery (# months)
47 47 47
Start (yyyy mm) 2024 01 2021 12 2021 08 2021 08 2005 09 2005 09 2005 09
Start to Bottom (# months) 6 22 26 26 38 38 38
Bottom (yyyy mm) 2024 06 2023 09 2023 09 2023 09 2008 10 2008 10 2008 10
Bottom to End (# months) 2 11 11 11 9 9 9
End (yyyy mm) - - - - 2009 07 2009 07 2009 07
Longest negative period (# months)
12* 36* 60* 120* 171 171 171
Start (yyyy mm) 2023 09 2021 09 2019 09 2014 09 2010 04 2010 04 2010 04
End (yyyy mm) 2024 08 2024 08 2024 08 2024 08 2024 06 2024 06 2024 06
Annualized Return (%) -0.92 -6.20 -3.38 -1.16 -0.03 -0.03 -0.03
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
1Y 3Y 5Y 10Y 20Y 30Y MAX
Standard Deviation (%) 6.12 8.06 7.49 6.10 5.86 5.20 5.20
Sharpe Ratio -0.69 -0.54 -0.25 -0.04 0.23 0.35 0.33
Sortino Ratio -1.01 -0.73 -0.32 -0.05 0.31 0.46 0.44
Ulcer Index 1.94 6.98 5.70 4.33 3.46 2.85 2.80
Ratio: Return / Standard Deviation 0.18 -0.14 0.04 0.20 0.48 0.79 0.84
Ratio: Return / Deepest Drawdown 0.32 -0.09 0.02 0.10 0.23 0.34 0.36
Positive Months (%)
41.66 50.00 53.33 54.16 58.75 63.05 64.67
Positive Months 5 18 32 65 141 227 271
Negative Months 7 18 28 55 99 133 148
LONG TERM RETURNS
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Best 10 Years Return (%) - Annualized 1.21 4.72 7.50 7.50
Worst 10 Years Return (%) - Annualized 1.21 1.21 1.21
Best 10 Years Return (%) - Annualized -1.16 3.39 5.48 5.48
Worst 10 Years Return (%) - Annualized -1.16 -1.16 -1.16
TIMEFRAMES
Inflation Adjusted:
Inflation Adjusted:
1M 3M 6M 1Y 3Y 5Y 10Y 20Y 30Y MAX
··· As of Aug 2024 - Over the previous 30Y
Best Rolling Return (%) - Annualized 22.93 11.29 9.74 7.50 5.77 4.11
Worst Rolling Return (%) - Annualized -9.29 -1.33 -0.20 1.21 2.81
Positive Periods (%) 79.9 95.3 99.6 100.0 100.0 100.0
Best Rolling Return (%) - Annualized 20.29 9.12 7.50 5.48 3.88 2.02
Worst Rolling Return (%) - Annualized -17.48 -6.28 -3.38 -1.16 0.69
Positive Periods (%) 67.9 82.7 89.3 90.8 100.0 100.0
95% VaR - Value at Risk (%) - Cumulative
2.12 3.24 3.97 2.44 0.00 0.00 0.00 0.00
95% CVaR - Conditional Value at Risk (%) 2.75 4.32 5.49 5.65 1.57 0.00 0.00 0.00
99% VaR - Value at Risk (%) - Cumulative
3.15 5.01 6.47 8.33 3.24 0.00 0.00 0.00
99% CVaR - Conditional Value at Risk (%) 3.80 6.14 8.07 8.98 3.70 0.00 0.00 0.00
Short term VaRs: analytical | 1+ year VaRs: historical data
Safe Withdrawal Rate (%) 90.02 29.08 18.53 9.94 5.88 5.27
Perpetual Withdrawal Rate (%) --- --- --- --- 0.75 2.38
% based on initial capital, inflation-adj. monthly withdrawals afterwards | Credits: BestRetirementPortfolio.com
··· All available data (Oct 1989 - Aug 2024)
Best Rolling Return (%) - Annualized 22.93 11.29 9.74 7.50 6.45 5.33
Worst Rolling Return (%) - Annualized -9.29 -1.33 -0.20 1.21 2.81 4.04
Positive Periods (%) 81.8 96.0 99.7 100.0 100.0 100.0
Best Rolling Return (%) - Annualized 20.29 9.12 7.50 5.48 4.04 3.32
Worst Rolling Return (%) - Annualized -17.48 -6.28 -3.38 -1.16 0.69 1.97
Positive Periods (%) 70.3 85.4 91.1 92.6 100.0 100.0
95% VaR - Value at Risk (%) - Cumulative
2.10 3.17 3.83 2.36 0.00 0.00 0.00 0.00
95% CVaR - Conditional Value at Risk (%) 2.72 4.24 5.35 5.16 1.27 0.00 0.00 0.00
99% VaR - Value at Risk (%) - Cumulative
3.12 4.94 6.33 7.81 2.28 0.00 0.00 0.00
99% CVaR - Conditional Value at Risk (%) 3.77 6.06 7.93 8.77 3.54 0.00 0.00 0.00
Short term VaRs: analytical | 1+ year VaRs: historical data
Safe Withdrawal Rate (%) 90.02 29.08 18.53 9.94 5.88 5.06
Perpetual Withdrawal Rate (%) --- --- --- --- 0.75 2.25
% based on initial capital, inflation-adj. monthly withdrawals afterwards | Credits: BestRetirementPortfolio.com
Terms and Definitions
  • Annualized Portfolio Return: it's the annualized geometric mean return of the portfolio.
  • Deepest/Longest Drawdown: a drawdown refers to the decline in value from a relative peak value to a relative trough. The deepest (or maximum) drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained. The longest drawdown is the period observed from a peak to the subsequent peak with the greatest duration.
  • Longest negative period: it's the maximum period for which an overall negative return has been observed.
  • Standard Deviation: it's a measure of the dispersion of returns around the mean.
  • Sharpe Ratio: it's a measure of risk-adjusted performance of the portfolio. It's calculated by dividing the excess return of the portfolio over the risk-free rate by the portfolio standard deviation. The risk-free rate here considered is the 1-3 Mth T-Bill return.
  • Sortino Ratio: another measure of risk-adjusted performance of the portfolio. It's a modification of the Sharpe Ratio (same formula but the denominator is the portfolio downside standard deviation).
  • Ulcer Index: it's a measure of downside risk that quantifies the depth and duration of drawdowns in an investment portfolio.
  • Best/Worst 10Y returns: the best and the worst 10-year return over a time frame.
  • Rolling Returns: N-year returns over a time frame, calculated over all the available data source (best, worst, % of positive returns). Each rolling period, longer than the longest negative period, yielded a non-negative minimum return.
  • Value at Risk (VaR): it's an evaluation of a cumulative worst-case loss (in absolute value), associated with a probability (95%-99%) and a time horizon. For short term, it's calculated based on the expected return and standard deviation, assuming a normal distribution of monthly returns. For long term is retrieved by the historical rolling return data.
  • Conditional Value at Risk (CVaR): it represents the average expected loss if that worst-case threshold (95%-99%) is ever crossed.
  • Safe Withdrawal Rate (SWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, without the portfolio running out of money in any case (money amount withdrawal).
    For instance: Your initial invested capital is 100.000$; withdrawal rate (annualized) is 4%. This means that, in the first month, you will withdraw 100.000 * 4% * 1/12 = 333.33$. The second month, you’ll withdraw 333.33$ plus the inflation monthly rate. You’ll continue adjusting your withdraw monthly for inflation.
  • Perpetual Withdrawal Rate (PWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, preserving the original invested capital, adjusted for inflation too.
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Correlations as of Aug 31, 2024

Correlation measures to what degree the returns of two assets move in relation to each other. It is a statistical measure that describes the extent to which the returns of one asset are related to the returns of another asset.

The following table shows the monthly correlations of iShares Euro Inflation Linked Government Bond (IBCI.DE) ETF vs the main Asset Classes, over different timeframes. Columns are sortable (click on table header to sort).

ISHARES EURO INFLATION LINKED GOVERNMENT BOND (IBCI.DE) ETF
Monthly correlations as of 31 August 2024
Swipe left to see all data
Correlation vs IBCI.DE
Asset Class 1 Year 5 Years 10 Years 30 Years
SXR8.DE
US Large Cap Blend 0.31 0.59 0.48 0.15
ZPRR.DE
US Small Cap Blend 0.73 0.56 0.43 0.16
IQQ7.DE
US REITs 0.78 0.70 0.59 0.33
NQSE.DE
US Technology 0.49 0.55 0.45 0.15
EUNL.DE
Developed Countries 0.40 0.63 0.53 0.22
SXRT.DE
Euro Large Cap Blend 0.48 0.57 0.52 0.26
IUSQ.DE
World All Countries 0.40 0.64 0.53 0.18
IS3N.DE
Emerging Markets 0.33 0.49 0.44 0.16
CEBW.DE
US Total Bond Market EUR Hdg 0.75 0.55 0.52 0.51
IUSV.DE
US Long Term Treasuries EUR Hdg 0.80 0.32 0.34 0.36
PR1H.DE
US Ultrashort Gov.Bonds EUR Hdg 0.61 0.06 0.04 0.09
UEEF.DE
US High Yield Bonds EUR Hdg 0.79 0.70 0.60 0.41
EUNU.DE
Global Aggregate Bond EUR Hdg 0.66 0.59 0.48 0.22
SPF1.DE
Global Convertible Bonds EUR Hdg 0.65 0.51 0.46 0.32
IS3C.DE
Emerg. Market Bonds EUR Hdg 0.84 0.69 0.64 0.44
SYBA.DE
Euro Total Bond Market 0.94 0.81 0.81 0.75
IBCL.DE
Euro Long Term Gov. Bonds 0.97 0.78 0.77 0.71
EUN6.DE
Euro Ultrashort Gov. Bonds 0.58 0.23 0.20 0.23
XHYG.DE
Euro High Yield Bonds 0.78 0.72 0.67 0.42
PHAU
Gold 0.17 0.24 0.21 0.08
UIQK.DE
Commodities -0.63 0.25 0.14 0.12
Terms and Definitions
Correlation values range between -1 and +1
  • A correlation of +1 indicates that the returns of the two assets move in perfect synchrony; when one asset's returns go up, the other asset's returns also go up by the same percentage, and vice versa. This perfect positive correlation implies that the assets perform similarly in different market conditions.
  • A correlation of -1 indicates a perfect inverse relationship between the returns of the two assets. When one asset's returns go up, the other asset's returns go down by the same percentage. This perfect negative correlation suggests that the assets move in opposite directions, providing a diversification benefit by reducing overall portfolio risk.
  • A correlation of 0 means that there is no linear relationship between the returns of the two assets. The returns of one asset do not predict the returns of the other.
Learn about historical correlations here: see how the main asset classes relate to each other.

Drawdowns

A drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.

ISHARES EURO INFLATION LINKED GOVERNMENT BOND (IBCI.DE) ETF
Drawdown periods
Drawdown periods - Inflation Adjusted
Time Period: 1 September 1994 - 31 August 2024 (30 Years)
Time Period: 1 October 1989 - 31 August 2024 (~35 years)
Inflation Adjusted:

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Rolling Returns

For a detailed rolling return analysis, click here
iShares Euro Inflation Linked Government Bond (IBCI.DE) ETF: Rolling Returns

A rolling return is a measure of investment performance that calculates the return of an investment over a set period of time, with the starting date rolling forward. This approach can provide a more accurate representation of the investment's historical performance and helps investors to evaluate the investment's consistency over time.

ISHARES EURO INFLATION LINKED GOVERNMENT BOND (IBCI.DE) ETF
Annualized Rolling Returns
Annualized Rolling Returns - Inflation Adjusted
Time Period: 1 September 1994 - 31 August 2024 (30 Years)
Time Period: 1 October 1989 - 31 August 2024 (~35 years)
Inflation Adjusted:

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Seasonality

In which months is it better to invest in iShares Euro Inflation Linked Government Bond (IBCI.DE) ETF?

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past. They are retrieved considering the time period from October 1989 to August 2024.

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For further information about the seasonality, check the Asset Class Seasonality page.

Monthly Returns

This section provides a visual/tabular representation of the performance variability in the iShares Euro Inflation Linked Government Bond (IBCI.DE) ETF over time. It illustrates the distribution of monthly returns, showcasing the range and frequency of positive and negative returns.

ISHARES EURO INFLATION LINKED GOVERNMENT BOND (IBCI.DE) ETF
Monthly Returns Distribution
Time Period: 1 September 1994 - 31 August 2024 (30 Years)
Time Period: 1 October 1989 - 31 August 2024 (~35 years)
227 Positive Months (63%) - 133 Negative Months (37%)
271 Positive Months (65%) - 148 Negative Months (35%)

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Methodology

Returns, up to May 2014, have been derived using the historical series of equivalent ETFs / Assets.
You can find additional information on extended Data Sources here.

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