AYE2.DE vs. IEFV.L
AYE2.DE (iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc) and IEFV.L (iShares Edge MSCI Europe Value Factor UCITS ETF) 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 IEFV.L is a Europe Equities fund tracking the MSCI Europe Value NR EUR. Both are passively managed. Over the past 5 years, AYE2.DE returned 2.45%/yr vs 14.49%/yr for IEFV.L. A 0.57 correlation means they provide meaningful diversification when combined. Both charge a 0.25% expense ratio.
Performance
AYE2.DE vs. IEFV.L - Performance Comparison
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Different Trading Currencies
AYE2.DE is traded in EUR, while IEFV.L is traded in GBp. To make them comparable, the IEFV.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, AYE2.DE achieves a 0.71% return, which is significantly lower than IEFV.L's 13.95% return.
AYE2.DE
- 1D
- -0.10%
- 1M
- 0.40%
- YTD
- 0.71%
- 6M
- 1.00%
- 1Y
- 4.01%
- 3Y*
- 6.88%
- 5Y*
- 2.45%
- 10Y*
- —
IEFV.L
- 1D
- 0.18%
- 1M
- 4.81%
- YTD
- 13.95%
- 6M
- 17.23%
- 1Y
- 32.90%
- 3Y*
- 21.60%
- 5Y*
- 14.49%
- 10Y*
- 10.73%
AYE2.DE vs. IEFV.L - 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% |
IEFV.L iShares Edge MSCI Europe Value Factor UCITS ETF | 13.97% | 34.79% | 10.49% | 13.77% | -3.76% | 11.27% |
Correlation
The correlation between AYE2.DE and IEFV.L is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021 | 0.57 |
The correlation between AYE2.DE and IEFV.L has been stable across timeframes, ranging from 0.56 to 0.61 - a consistent structural relationship.
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Return for Risk
AYE2.DE vs. IEFV.L — Risk / Return Rank
AYE2.DE
IEFV.L
AYE2.DE vs. IEFV.L - 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 Edge MSCI Europe Value Factor UCITS ETF (IEFV.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.
| AYE2.DE | IEFV.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.36 | ||
| Sortino ratioReturn per unit of downside risk | -1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.44 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 3.34 | -2.12 |
| Martin ratioReturn relative to average drawdown | 5.15 | 12.31 | -7.15 |
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 | IEFV.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 2.41 | -1.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.94 | -0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.61 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.49 | -0.04 |
Drawdowns
AYE2.DE vs. IEFV.L - Drawdown Comparison
The maximum AYE2.DE drawdown since its inception was -16.48%, smaller than the maximum IEFV.L drawdown of -40.78%. Use the drawdown chart below to compare losses from any high point for AYE2.DE and IEFV.L.
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Drawdown Indicators
| AYE2.DE | IEFV.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.48% | -40.78% | +24.30% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -9.82% | +6.72% |
Max Drawdown (3Y)Largest decline over 3 years | -3.69% | -16.66% | +12.97% |
Max Drawdown (5Y)Largest decline over 5 years | -16.48% | -19.43% | +2.95% |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.78% | — |
Current DrawdownCurrent decline from peak | -0.33% | -0.60% | +0.27% |
Average DrawdownAverage peak-to-trough decline | -3.96% | -7.51% | +3.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 2.67% | -1.94% |
Volatility
AYE2.DE vs. IEFV.L - Volatility Comparison
The current volatility for iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE) is 0.98%, while iShares Edge MSCI Europe Value Factor UCITS ETF (IEFV.L) has a volatility of 4.30%. This indicates that AYE2.DE experiences smaller price fluctuations and is considered to be less risky than IEFV.L 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 | IEFV.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 4.30% | -3.32% |
Volatility (6M)Calculated over the trailing 6-month period | 3.09% | 10.76% | -7.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 13.59% | -10.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 15.44% | -10.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 17.60% | -12.34% |
AYE2.DE vs. IEFV.L - Expense Ratio Comparison
Both AYE2.DE and IEFV.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
AYE2.DE vs. IEFV.L - Dividend Comparison
Neither AYE2.DE nor IEFV.L has paid dividends to shareholders.
Frequently Asked Questions
AYE2.DE and IEFV.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
AYE2.DE and IEFV.L have the same expense ratio: 0.25% per year.
AYE2.DE is categorized as European High Yield Bonds, while IEFV.L is Europe Equities. AYE2.DE tracks Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond, while IEFV.L tracks MSCI Europe Value NR EUR.
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