AYE2.DE vs. VWRD.L
AYE2.DE (iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc) and VWRD.L (Vanguard FTSE All-World 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 VWRD.L is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past 5 years, AYE2.DE returned 2.45%/yr vs 12.28%/yr for VWRD.L. A 0.55 correlation means they provide meaningful diversification when combined. AYE2.DE charges 0.25%/yr vs 0.22%/yr for VWRD.L.
Performance
AYE2.DE vs. VWRD.L - Performance Comparison
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Different Trading Currencies
AYE2.DE is traded in EUR, while VWRD.L is traded in USD. To make them comparable, the VWRD.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 VWRD.L's 12.90% 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*
- —
VWRD.L
- 1D
- -0.24%
- 1M
- 4.98%
- YTD
- 12.90%
- 6M
- 13.31%
- 1Y
- 26.46%
- 3Y*
- 17.87%
- 5Y*
- 12.28%
- 10Y*
- 12.39%
AYE2.DE vs. VWRD.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% |
VWRD.L Vanguard FTSE All-World UCITS ETF | 12.90% | 7.86% | 25.42% | 18.64% | -13.12% | 15.91% |
Correlation
The correlation between AYE2.DE and VWRD.L is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021 | 0.55 |
The correlation between AYE2.DE and VWRD.L shifts across timeframes, from 0.53 (3 years) to 0.65 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AYE2.DE vs. VWRD.L — Risk / Return Rank
AYE2.DE
VWRD.L
AYE2.DE vs. VWRD.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 Vanguard FTSE All-World UCITS ETF (VWRD.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 | VWRD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.08 | ||
| Sortino ratioReturn per unit of downside risk | -1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.40 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 4.11 | -2.90 |
| Martin ratioReturn relative to average drawdown | 5.15 | 15.76 | -10.61 |
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 | VWRD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 2.13 | -1.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.84 | -0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.79 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.82 | -0.37 |
Drawdowns
AYE2.DE vs. VWRD.L - Drawdown Comparison
The maximum AYE2.DE drawdown since its inception was -16.48%, smaller than the maximum VWRD.L drawdown of -33.27%. Use the drawdown chart below to compare losses from any high point for AYE2.DE and VWRD.L.
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Drawdown Indicators
| AYE2.DE | VWRD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.48% | -33.27% | +16.79% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -6.40% | +3.30% |
Max Drawdown (3Y)Largest decline over 3 years | -3.69% | -20.08% | +16.39% |
Max Drawdown (5Y)Largest decline over 5 years | -16.48% | -20.08% | +3.60% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.27% | — |
Current DrawdownCurrent decline from peak | -0.33% | -0.64% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -3.96% | -4.39% | +0.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 1.67% | -0.94% |
Volatility
AYE2.DE vs. VWRD.L - Volatility Comparison
The current volatility for iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE) is 0.98%, while Vanguard FTSE All-World UCITS ETF (VWRD.L) has a volatility of 3.46%. This indicates that AYE2.DE experiences smaller price fluctuations and is considered to be less risky than VWRD.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 | VWRD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 3.46% | -2.48% |
Volatility (6M)Calculated over the trailing 6-month period | 3.09% | 9.33% | -6.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 12.37% | -8.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 14.59% | -9.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 15.60% | -10.34% |
AYE2.DE vs. VWRD.L - Expense Ratio Comparison
AYE2.DE has a 0.25% expense ratio, which is higher than VWRD.L's 0.22% 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. VWRD.L - Dividend Comparison
AYE2.DE has not paid dividends to shareholders, while VWRD.L's dividend yield for the trailing twelve months is around 1.24%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VWRD.L Vanguard FTSE All-World UCITS ETF | 1.24% | 1.38% | 1.52% | 1.69% | 2.05% | 1.48% | 1.47% | 1.88% | 2.29% | 1.82% | 2.04% | 2.07% |
Frequently Asked Questions
AYE2.DE and VWRD.L have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VWRD.L is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VWRD.L is cheaper with a 0.22% expense ratio, compared with 0.25% for AYE2.DE.
AYE2.DE is categorized as European High Yield Bonds, while VWRD.L is Global Equities. AYE2.DE tracks Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond, while VWRD.L tracks FTSE All-World Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.25% for AYE2.DE and 0.22% for VWRD.L.
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