AYE2.DE vs. EFRN.DE
AYE2.DE (iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc) and EFRN.DE (iShares EUR Floating Rate Bond ESG UCITS ETF EUR (Dist)) are both exchange-traded funds - AYE2.DE is a European High Yield Bonds fund tracking the Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond, while EFRN.DE is a European Corporate Bonds fund tracking the Bloomberg Euro Agg Corp 1-3 Yr TR EUR. Both are passively managed. Over the past 5 years, AYE2.DE returned 2.45%/yr vs 2.35%/yr for EFRN.DE. At a 0.06 correlation, their price movements are largely independent. AYE2.DE charges 0.25%/yr vs 0.10%/yr for EFRN.DE.
Performance
AYE2.DE vs. EFRN.DE - Performance Comparison
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Returns By Period
In the year-to-date period, AYE2.DE achieves a 0.71% return, which is significantly lower than EFRN.DE's 0.87% return.
AYE2.DE
- 1D
- -0.10%
- 1M
- 0.88%
- YTD
- 0.71%
- 6M
- 1.00%
- 1Y
- 3.78%
- 3Y*
- 6.88%
- 5Y*
- 2.45%
- 10Y*
- —
EFRN.DE
- 1D
- 0.05%
- 1M
- 0.18%
- YTD
- 0.87%
- 6M
- 1.22%
- 1Y
- 2.55%
- 3Y*
- 3.61%
- 5Y*
- 2.35%
- 10Y*
- —
AYE2.DE vs. EFRN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AYE2.DE iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc | 0.71% | 5.88% | 6.36% | 10.77% | -10.72% | 0.80% |
EFRN.DE iShares EUR Floating Rate Bond ESG UCITS ETF EUR (Dist) | 0.87% | 2.94% | 4.31% | 3.97% | -0.03% | -0.24% |
Correlation
The correlation between AYE2.DE and EFRN.DE is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021 | 0.06 |
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Return for Risk
AYE2.DE vs. EFRN.DE — Risk / Return Rank
AYE2.DE
EFRN.DE
AYE2.DE vs. EFRN.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE) and iShares EUR Floating Rate Bond ESG UCITS ETF EUR (Dist) (EFRN.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.
| AYE2.DE | EFRN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.52 | ||
| Sortino ratioReturn per unit of downside risk | -2.31 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.55 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 8.25 | -7.03 |
| Martin ratioReturn relative to average drawdown | 5.15 | 32.61 | -27.46 |
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
| AYE2.DE | EFRN.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 2.58 | -1.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 2.35 | -1.89 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 1.12 | -0.67 |
Drawdowns
AYE2.DE vs. EFRN.DE - Drawdown Comparison
The maximum AYE2.DE drawdown since its inception was -16.48%, which is greater than EFRN.DE's maximum drawdown of -5.68%. Use the drawdown chart below to compare losses from any high point for AYE2.DE and EFRN.DE.
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Drawdown Indicators
| AYE2.DE | EFRN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.48% | -5.68% | -10.80% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -0.31% | -2.79% |
Max Drawdown (3Y)Largest decline over 3 years | -3.69% | -0.48% | -3.21% |
Max Drawdown (5Y)Largest decline over 5 years | -16.48% | -1.13% | -15.35% |
Current DrawdownCurrent decline from peak | -0.33% | -0.01% | -0.32% |
Average DrawdownAverage peak-to-trough decline | -3.96% | -0.33% | -3.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.08% | +0.65% |
Volatility
AYE2.DE vs. EFRN.DE - Volatility Comparison
iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE) has a higher volatility of 0.98% compared to iShares EUR Floating Rate Bond ESG UCITS ETF EUR (Dist) (EFRN.DE) at 0.34%. This indicates that AYE2.DE's price experiences larger fluctuations and is considered to be riskier than EFRN.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AYE2.DE | EFRN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 0.34% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 3.09% | 0.80% | +2.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 0.98% | +2.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 0.99% | +4.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 1.35% | +3.91% |
AYE2.DE vs. EFRN.DE - Expense Ratio Comparison
AYE2.DE has a 0.25% expense ratio, which is higher than EFRN.DE'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
AYE2.DE vs. EFRN.DE - Dividend Comparison
AYE2.DE has not paid dividends to shareholders, while EFRN.DE's dividend yield for the trailing twelve months is around 2.50%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
AYE2.DE iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EFRN.DE iShares EUR Floating Rate Bond ESG UCITS ETF EUR (Dist) | 2.50% | 2.88% | 4.22% | 2.93% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AYE2.DE and EFRN.DE have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EFRN.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EFRN.DE is cheaper with a 0.10% expense ratio, compared with 0.25% for AYE2.DE.
AYE2.DE is categorized as European High Yield Bonds, while EFRN.DE is European Corporate Bonds. AYE2.DE tracks Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond, while EFRN.DE tracks Bloomberg Euro Agg Corp 1-3 Yr TR EUR. Their fees differ too: 0.25% for AYE2.DE and 0.10% for EFRN.DE.
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