AYEU.DE vs. UETW.DE
AYEU.DE (iShares Smart City Infrastructure UCITS ETF USD (Acc)) and UETW.DE (UBS ETF (IE) MSCI World UCITS ETF (USD) Acc) are both Global Equities funds - AYEU.DE tracks the STOXX Global Smart City Infrastructure Index while UETW.DE tracks the MSCI World. Both are passively managed. Over the past 5 years, AYEU.DE returned 9.09%/yr vs 12.26%/yr for UETW.DE. Their correlation of 0.87 suggests significant overlap in exposure. AYEU.DE charges 0.40%/yr vs 0.10%/yr for UETW.DE.
Performance
AYEU.DE vs. UETW.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 UETW.DE's 12.59% 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*
- —
UETW.DE
- 1D
- 0.33%
- 1M
- 1.45%
- 6M
- 12.95%
- YTD
- 12.59%
- 1Y
- 24.40%
- 3Y*
- 17.66%
- 5Y*
- 12.26%
- 10Y*
- —
AYEU.DE vs. UETW.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% |
UETW.DE UBS ETF (IE) MSCI World UCITS ETF (USD) Acc | 12.59% | 8.05% | 26.48% | 19.71% | -13.72% | 20.20% |
Correlation
The correlation between AYEU.DE and UETW.DE is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021 | 0.87 |
The correlation between AYEU.DE and UETW.DE has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.
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Return for Risk
AYEU.DE vs. UETW.DE — Risk / Return Rank
AYEU.DE
UETW.DE
AYEU.DE vs. UETW.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 UBS ETF (IE) MSCI World UCITS ETF (USD) Acc (UETW.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 | UETW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.76 | ||
| Sortino ratioReturn per unit of downside risk | -0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.40 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.82 | 3.64 | -0.82 |
| Martin ratioReturn relative to average drawdown | 9.05 | 14.26 | -5.21 |
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Drawdowns
AYEU.DE vs. UETW.DE - Drawdown Comparison
The maximum AYEU.DE drawdown since its inception was -22.12%, smaller than the maximum UETW.DE drawdown of -33.74%. Use the drawdown chart below to compare losses from any high point for AYEU.DE and UETW.DE.
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Drawdown Indicators
| AYEU.DE | UETW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.12% | -33.74% | +11.62% |
Max Drawdown (1Y)Largest decline over 1 year | -8.00% | -6.67% | -1.33% |
Max Drawdown (3Y)Largest decline over 3 years | -21.76% | -21.32% | -0.44% |
Max Drawdown (5Y)Largest decline over 5 years | -22.12% | -21.32% | -0.80% |
Current DrawdownCurrent decline from peak | -3.25% | -0.08% | -3.17% |
Average DrawdownAverage peak-to-trough decline | -6.29% | -4.99% | -1.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.50% | 1.71% | +0.79% |
Volatility
AYEU.DE vs. UETW.DE - Volatility Comparison
iShares Smart City Infrastructure UCITS ETF USD (Acc) (AYEU.DE) has a higher volatility of 5.11% compared to UBS ETF (IE) MSCI World UCITS ETF (USD) Acc (UETW.DE) at 3.13%. This indicates that AYEU.DE's price experiences larger fluctuations and is considered to be riskier than UETW.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 | UETW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 3.13% | +1.98% |
Volatility (6M)Calculated over the trailing 6-month period | 12.83% | 7.96% | +4.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.03% | 11.21% | +4.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.09% | 14.06% | +2.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.87% | 16.58% | -0.71% |
AYEU.DE vs. UETW.DE - Expense Ratio Comparison
AYEU.DE has a 0.40% expense ratio, which is higher than UETW.DE's 0.10% expense ratio.
Dividends
AYEU.DE vs. UETW.DE - Dividend Comparison
Neither AYEU.DE nor UETW.DE has paid dividends to shareholders.
Frequently Asked Questions
AYEU.DE and UETW.DE have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UETW.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UETW.DE is cheaper with a 0.10% expense ratio, compared with 0.40% for AYEU.DE.
AYEU.DE tracks STOXX Global Smart City Infrastructure Index, while UETW.DE tracks MSCI World. They also come from different issuers: iShares and UBS. Their fees differ too: 0.40% for AYEU.DE and 0.10% for UETW.DE.
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