AYEU.DE vs. UEEH.DE
AYEU.DE (iShares Smart City Infrastructure UCITS ETF USD (Acc)) and UEEH.DE (iShares Edge MSCI World Minimum Volatility UCITS ETF USD Dist) are both Global Equities funds from iShares - AYEU.DE tracks the STOXX Global Smart City Infrastructure Index while UEEH.DE tracks the MSCI World Minimum Volatility. Both are passively managed. Over the past 5 years, AYEU.DE returned 9.09%/yr vs 5.97%/yr for UEEH.DE. A 0.55 correlation means they provide meaningful diversification when combined. AYEU.DE charges 0.40%/yr vs 0.30%/yr for UEEH.DE.
Performance
AYEU.DE vs. UEEH.DE - Performance Comparison
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Returns By Period
In the year-to-date period, AYEU.DE achieves a 16.81% return, which is significantly higher than UEEH.DE's 4.56% return.
AYEU.DE
- 1D
- 1.09%
- 1M
- -3.25%
- 6M
- 16.81%
- YTD
- 16.81%
- 1Y
- 22.71%
- 3Y*
- 14.16%
- 5Y*
- 9.09%
- 10Y*
- —
UEEH.DE
- 1D
- 0.00%
- 1M
- 2.86%
- 6M
- 5.51%
- YTD
- 4.56%
- 1Y
- 5.38%
- 3Y*
- 7.50%
- 5Y*
- 5.97%
- 10Y*
- —
AYEU.DE vs. UEEH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AYEU.DE iShares Smart City Infrastructure UCITS ETF USD (Acc) | 16.81% | 7.18% | 16.04% | 15.64% | -17.79% | 20.32% |
UEEH.DE iShares Edge MSCI World Minimum Volatility UCITS ETF USD Dist | 4.56% | -1.30% | 17.87% | 3.61% | -4.41% | 16.74% |
Correlation
The correlation between AYEU.DE and UEEH.DE is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021 | 0.55 |
Over the past year, the correlation between AYEU.DE and UEEH.DE has dropped to 0.24 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.
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Return for Risk
AYEU.DE vs. UEEH.DE — Risk / Return Rank
AYEU.DE
UEEH.DE
AYEU.DE vs. UEEH.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Smart City Infrastructure UCITS ETF USD (Acc) (AYEU.DE) and iShares Edge MSCI World Minimum Volatility UCITS ETF USD Dist (UEEH.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AYEU.DE | UEEH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.12 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.82 | 1.01 | +1.82 |
| Martin ratioReturn relative to average drawdown | 9.05 | 2.54 | +6.51 |
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Drawdowns
AYEU.DE vs. UEEH.DE - Drawdown Comparison
The maximum AYEU.DE drawdown since its inception was -22.12%, which is greater than UEEH.DE's maximum drawdown of -12.87%. Use the drawdown chart below to compare losses from any high point for AYEU.DE and UEEH.DE.
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Drawdown Indicators
| AYEU.DE | UEEH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.12% | -12.87% | -9.25% |
Max Drawdown (1Y)Largest decline over 1 year | -8.00% | -5.33% | -2.67% |
Max Drawdown (3Y)Largest decline over 3 years | -21.76% | -12.87% | -8.89% |
Max Drawdown (5Y)Largest decline over 5 years | -22.12% | -12.87% | -9.25% |
Current DrawdownCurrent decline from peak | -3.25% | -3.86% | +0.61% |
Average DrawdownAverage peak-to-trough decline | -6.29% | -4.38% | -1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.50% | 2.11% | +0.39% |
Volatility
AYEU.DE vs. UEEH.DE - Volatility Comparison
iShares Smart City Infrastructure UCITS ETF USD (Acc) (AYEU.DE) has a higher volatility of 5.11% compared to iShares Edge MSCI World Minimum Volatility UCITS ETF USD Dist (UEEH.DE) at 2.13%. This indicates that AYEU.DE's price experiences larger fluctuations and is considered to be riskier than UEEH.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AYEU.DE | UEEH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 2.13% | +2.98% |
Volatility (6M)Calculated over the trailing 6-month period | 12.83% | 5.72% | +7.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.03% | 8.05% | +7.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.09% | 10.30% | +5.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.87% | 10.21% | +5.66% |
AYEU.DE vs. UEEH.DE - Expense Ratio Comparison
AYEU.DE has a 0.40% expense ratio, which is higher than UEEH.DE's 0.30% expense ratio.
Dividends
AYEU.DE vs. UEEH.DE - Dividend Comparison
AYEU.DE has not paid dividends to shareholders, while UEEH.DE's dividend yield for the trailing twelve months is around 1.65%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
AYEU.DE iShares Smart City Infrastructure UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UEEH.DE iShares Edge MSCI World Minimum Volatility UCITS ETF USD Dist | 1.65% | 1.72% | 1.70% | 1.89% | 1.73% | 1.62% |
Frequently Asked Questions
AYEU.DE and UEEH.DE have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UEEH.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UEEH.DE is cheaper with a 0.30% expense ratio, compared with 0.40% for AYEU.DE.
AYEU.DE tracks STOXX Global Smart City Infrastructure Index, while UEEH.DE tracks MSCI World Minimum Volatility. Their fees differ too: 0.40% for AYEU.DE and 0.30% for UEEH.DE.
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