FAEU.DE vs. FWEA.DE

Last updated Jul 4, 2026

FAEU.DE (Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg)) and FWEA.DE (Invesco FTSE All-World UCITS ETF EUR PfHdg Acc) are both exchange-traded funds - FAEU.DE is a High Yield Bonds fund tracking the FTSE Time-Weighted US Fallen Angel Bond Select Index, while FWEA.DE is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past 3 years, FAEU.DE returned 5.35%/yr vs 17.71%/yr for FWEA.DE. A 0.53 correlation means they provide meaningful diversification when combined. FAEU.DE charges 0.50%/yr vs 0.20%/yr for FWEA.DE.

Performance

FAEU.DE vs. FWEA.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg) (FAEU.DE) and Invesco FTSE All-World UCITS ETF EUR PfHdg Acc (FWEA.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAEU.DE achieves a 0.54% return, which is significantly lower than FWEA.DE's 10.02% return.

FAEU.DE

• 1D: 0.04%
• 1M: 0.87%
• 6M: 0.61%
• YTD: 0.54%
• 1Y: 3.10%
• 3Y*: 5.35%
• 5Y*: 0.19%
• 10Y*: —

FWEA.DE

• 1D: 0.00%
• 1M: -0.80%
• 6M: 10.26%
• YTD: 10.02%
• 1Y: 21.71%
• 3Y*: 17.71%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FAEU.DE vs. FWEA.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FAEU.DE Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg)	0.54%	7.55%	2.62%	6.92%
FWEA.DE Invesco FTSE All-World UCITS ETF EUR PfHdg Acc	10.02%	17.53%	19.21%	8.62%

Correlation

The correlation between FAEU.DE and FWEA.DE is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (All Time) Calculated using the full available price history since Jun 26, 2023	0.53

The correlation between FAEU.DE and FWEA.DE has been stable across timeframes, ranging from 0.53 to 0.58 - a consistent structural relationship.

Return for Risk

FAEU.DE vs. FWEA.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FAEU.DE

FAEU.DE Risk / Return Rank: 19
FAEU.DE Sharpe Ratio Rank: 20
FAEU.DE Sortino Ratio Rank: 18
FAEU.DE Omega Ratio Rank: 19
FAEU.DE Calmar Ratio Rank: 17
FAEU.DE Martin Ratio Rank: 19

FWEA.DE

FWEA.DE Risk / Return Rank: 70
FWEA.DE Sharpe Ratio Rank: 69
FWEA.DE Sortino Ratio Rank: 75
FWEA.DE Omega Ratio Rank: 70
FWEA.DE Calmar Ratio Rank: 65
FWEA.DE Martin Ratio Rank: 71

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FAEU.DE vs. FWEA.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg) (FAEU.DE) and Invesco FTSE All-World UCITS ETF EUR PfHdg Acc (FWEA.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.

	FAEU.DE	FWEA.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.59	1.83	-1.24
Sortino ratio: Return per unit of downside risk	0.89	2.75	-1.85
Omega ratio: Gain probability vs. loss probability	1.12	1.34	-0.23
Calmar ratio: Return relative to maximum drawdown	0.57	2.62	-2.05
Martin ratio: Return relative to average drawdown	1.87	10.72	-8.84

FAEU.DE vs. FWEA.DE - Sharpe Ratio Comparison

The current FAEU.DE Sharpe Ratio is 0.59, which is lower than the FWEA.DE Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of FAEU.DE and FWEA.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FAEU.DE vs. FWEA.DE - Drawdown Comparison

The maximum FAEU.DE drawdown since its inception was -29.94%, which is greater than FWEA.DE's maximum drawdown of -17.48%. Use the drawdown chart below to compare losses from any high point for FAEU.DE and FWEA.DE.

Drawdown Indicators

	FAEU.DE	FWEA.DE	Difference
Max Drawdown Largest peak-to-trough decline	-29.94%	-17.48%	-12.46%
Max Drawdown (1Y) Largest decline over 1 year	-5.38%	-8.28%	+2.90%
Max Drawdown (3Y) Largest decline over 3 years	-5.63%	-17.48%	+11.85%
Max Drawdown (5Y) Largest decline over 5 years	-19.80%	—	—
Current Drawdown Current decline from peak	-1.17%	-1.37%	+0.20%
Average Drawdown Average peak-to-trough decline	-6.40%	-1.86%	-4.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	2.03%	-0.38%

Volatility

FAEU.DE vs. FWEA.DE - Volatility Comparison

The current volatility for Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg) (FAEU.DE) is 1.15%, while Invesco FTSE All-World UCITS ETF EUR PfHdg Acc (FWEA.DE) has a volatility of 3.88%. This indicates that FAEU.DE experiences smaller price fluctuations and is considered to be less risky than FWEA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAEU.DE	FWEA.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	3.88%	-2.73%
Volatility (6M) Calculated over the trailing 6-month period	4.29%	9.49%	-5.20%
Volatility (1Y) Calculated over the trailing 1-year period	5.28%	11.88%	-6.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.44%	12.75%	-5.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.55%	12.75%	-2.20%

FAEU.DE vs. FWEA.DE - Expense Ratio Comparison

FAEU.DE has a 0.50% expense ratio, which is higher than FWEA.DE's 0.20% expense ratio.

Dividends

FAEU.DE vs. FWEA.DE - Dividend Comparison

Neither FAEU.DE nor FWEA.DE has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FAEU.DE Invesco US High Yield Fallen Angels UCITS ETF (EUR Hdg)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.05%	0.00%	8.14%
FWEA.DE Invesco FTSE All-World UCITS ETF EUR PfHdg Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FAEU.DE and FWEA.DE in my portfolio?

FAEU.DE and FWEA.DE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FAEU.DE or FWEA.DE?

On fees, FWEA.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FAEU.DE or FWEA.DE?

FWEA.DE is cheaper with a 0.20% expense ratio, compared with 0.50% for FAEU.DE.

What is the main difference between FAEU.DE and FWEA.DE?

FAEU.DE is categorized as High Yield Bonds, while FWEA.DE is Global Equities. FAEU.DE tracks FTSE Time-Weighted US Fallen Angel Bond Select Index, while FWEA.DE tracks FTSE All-World Index. Their fees differ too: 0.50% for FAEU.DE and 0.20% for FWEA.DE.