CE31.L vs. VETY.L
CE31.L (iShares Euro Government Bond 1-3yr UCITS ETF (Acc)) and VETY.L (Vanguard EUR Eurozone Government Bond UCITS ETF Distributing) are both European Government Bonds funds - CE31.L tracks the Bloomberg Euro Agg Govt 1-3 Yr TR EUR while VETY.L tracks the Bloomberg Euro Agg Govt TR EUR. Both are passively managed. Over the past 10 years, CE31.L returned 1.34%/yr vs 0.12%/yr for VETY.L. Their correlation of 0.80 suggests significant overlap in exposure. CE31.L charges 0.15%/yr vs 0.07%/yr for VETY.L.
Performance
CE31.L vs. VETY.L - Performance Comparison
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Different Trading Currencies
CE31.L is traded in GBp, while VETY.L is traded in GBP. To make them comparable, the VETY.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, CE31.L achieves a -0.69% return, which is significantly higher than VETY.L's -2.03% return. Over the past 10 years, CE31.L has outperformed VETY.L with an annualized return of 1.34%, while VETY.L has yielded a comparatively lower 0.12% annualized return.
CE31.L
- 1D
- 0.18%
- 1M
- 0.53%
- YTD
- -0.69%
- 6M
- -0.65%
- 1Y
- 3.69%
- 3Y*
- 2.80%
- 5Y*
- 0.96%
- 10Y*
- 1.34%
VETY.L
- 1D
- 0.19%
- 1M
- 0.54%
- YTD
- -2.03%
- 6M
- -2.33%
- 1Y
- -0.25%
- 3Y*
- 0.38%
- 5Y*
- -3.27%
- 10Y*
- 0.12%
CE31.L vs. VETY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CE31.L iShares Euro Government Bond 1-3yr UCITS ETF (Acc) | -0.69% | 7.55% | -1.61% | 1.46% | 1.17% | -7.40% | 5.40% | -4.80% | 0.64% | 3.54% |
VETY.L Vanguard EUR Eurozone Government Bond UCITS ETF Distributing | -2.03% | 2.82% | -5.14% | 5.08% | -13.54% | -9.76% | 10.66% | 1.61% | 1.86% | 3.57% |
Correlation
The correlation between CE31.L and VETY.L is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2016 | 0.80 |
The correlation between CE31.L and VETY.L shifts across timeframes, from 0.70 (5 years) to 0.80 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CE31.L vs. VETY.L — Risk / Return Rank
CE31.L
VETY.L
CE31.L vs. VETY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Government Bond 1-3yr UCITS ETF (Acc) (CE31.L) and Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VETY.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.
| CE31.L | VETY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +1.39 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.00 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | -0.05 | +1.45 |
| Martin ratioReturn relative to average drawdown | 3.13 | -0.10 | +3.24 |
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
| CE31.L | VETY.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.88 | -0.04 | +0.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | -0.43 | +0.61 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 0.01 | +0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | 0.04 | +0.03 |
Drawdowns
CE31.L vs. VETY.L - Drawdown Comparison
The maximum CE31.L drawdown since its inception was -18.33%, smaller than the maximum VETY.L drawdown of -26.39%. Use the drawdown chart below to compare losses from any high point for CE31.L and VETY.L.
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Drawdown Indicators
| CE31.L | VETY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.33% | -26.39% | +8.06% |
Max Drawdown (1Y)Largest decline over 1 year | -2.62% | -5.11% | +2.49% |
Max Drawdown (3Y)Largest decline over 3 years | -3.05% | -7.67% | +4.62% |
Max Drawdown (5Y)Largest decline over 5 years | -5.98% | -20.49% | +14.51% |
Max Drawdown (10Y)Largest decline over 10 years | -13.14% | -26.39% | +13.25% |
Current DrawdownCurrent decline from peak | -3.78% | -23.46% | +19.68% |
Average DrawdownAverage peak-to-trough decline | -7.24% | -12.50% | +5.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 2.44% | -1.27% |
Volatility
CE31.L vs. VETY.L - Volatility Comparison
The current volatility for iShares Euro Government Bond 1-3yr UCITS ETF (Acc) (CE31.L) is 1.27%, while Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VETY.L) has a volatility of 1.84%. This indicates that CE31.L experiences smaller price fluctuations and is considered to be less risky than VETY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CE31.L | VETY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | 1.84% | -0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 4.28% | -1.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.18% | 5.64% | -1.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.29% | 7.56% | -2.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.07% | 8.54% | -1.47% |
CE31.L vs. VETY.L - Expense Ratio Comparison
CE31.L has a 0.15% expense ratio, which is higher than VETY.L's 0.07% 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
CE31.L vs. VETY.L - Dividend Comparison
Neither CE31.L nor VETY.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CE31.L iShares Euro Government Bond 1-3yr UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VETY.L Vanguard EUR Eurozone Government Bond UCITS ETF Distributing | 0.00% | 0.00% | 0.28% | 2.11% | 0.54% | 0.09% | 0.17% | 0.60% | 0.63% | 0.54% | 0.37% |
Frequently Asked Questions
CE31.L and VETY.L have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VETY.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VETY.L is cheaper with a 0.07% expense ratio, compared with 0.15% for CE31.L.
CE31.L tracks Bloomberg Euro Agg Govt 1-3 Yr TR EUR, while VETY.L tracks Bloomberg Euro Agg Govt TR EUR. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for CE31.L and 0.07% for VETY.L.
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