IBCA.DE vs. VWCE.DE
IBCA.DE (iShares Euro Government Bond 1-3yr UCITS ETF (Dist)) and VWCE.DE (Vanguard FTSE All-World UCITS ETF) are both exchange-traded funds - IBCA.DE is a European Government Bonds fund tracking the Bloomberg Euro Government Bond 1-3, while VWCE.DE is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past 5 years, IBCA.DE returned 0.83%/yr vs 11.89%/yr for VWCE.DE. At a 0.08 correlation, their price movements are largely independent. IBCA.DE charges 0.15%/yr vs 0.19%/yr for VWCE.DE.
Performance
IBCA.DE vs. VWCE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBCA.DE achieves a 0.27% return, which is significantly lower than VWCE.DE's 11.72% return.
IBCA.DE
- 1D
- 0.11%
- 1M
- 0.38%
- YTD
- 0.27%
- 6M
- 0.45%
- 1Y
- 1.04%
- 3Y*
- 2.75%
- 5Y*
- 0.83%
- 10Y*
- 0.40%
VWCE.DE
- 1D
- 1.82%
- 1M
- 2.09%
- YTD
- 11.72%
- 6M
- 13.39%
- 1Y
- 25.76%
- 3Y*
- 17.02%
- 5Y*
- 11.89%
- 10Y*
- —
IBCA.DE vs. VWCE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBCA.DE iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 0.27% | 2.32% | 3.06% | 3.49% | -4.26% | -0.84% | -0.15% | -0.32% |
VWCE.DE Vanguard FTSE All-World UCITS ETF | 11.72% | 9.16% | 24.41% | 18.18% | -13.47% | 28.62% | 5.36% | 7.08% |
Correlation
The correlation between IBCA.DE and VWCE.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 | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2019 | 0.08 |
The correlation between IBCA.DE and VWCE.DE shifts across timeframes, from 0.08 (all time) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IBCA.DE vs. VWCE.DE — Risk / Return Rank
IBCA.DE
VWCE.DE
IBCA.DE vs. VWCE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.DE) and Vanguard FTSE All-World UCITS ETF (VWCE.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.
| IBCA.DE | VWCE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.46 | ||
| Sortino ratioReturn per unit of downside risk | -1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.41 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.91 | 3.92 | -3.01 |
| Martin ratioReturn relative to average drawdown | 2.86 | 16.07 | -13.21 |
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Drawdowns
IBCA.DE vs. VWCE.DE - Drawdown Comparison
The maximum IBCA.DE drawdown since its inception was -8.31%, smaller than the maximum VWCE.DE drawdown of -33.43%. Use the drawdown chart below to compare losses from any high point for IBCA.DE and VWCE.DE.
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Drawdown Indicators
| IBCA.DE | VWCE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.31% | -33.43% | +25.12% |
Max Drawdown (1Y)Largest decline over 1 year | -1.14% | -6.55% | +5.41% |
Max Drawdown (3Y)Largest decline over 3 years | -1.14% | -21.07% | +19.93% |
Max Drawdown (5Y)Largest decline over 5 years | -5.21% | -21.07% | +15.86% |
Max Drawdown (10Y)Largest decline over 10 years | -8.31% | — | — |
Current DrawdownCurrent decline from peak | -0.34% | -1.47% | +1.13% |
Average DrawdownAverage peak-to-trough decline | -0.84% | -4.68% | +3.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 1.60% | -1.24% |
Volatility
IBCA.DE vs. VWCE.DE - Volatility Comparison
The current volatility for iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.DE) is 0.63%, while Vanguard FTSE All-World UCITS ETF (VWCE.DE) has a volatility of 3.40%. This indicates that IBCA.DE experiences smaller price fluctuations and is considered to be less risky than VWCE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBCA.DE | VWCE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 3.40% | -2.77% |
Volatility (6M)Calculated over the trailing 6-month period | 1.30% | 8.51% | -7.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.38% | 11.63% | -10.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.56% | 13.79% | -12.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.81% | 16.16% | -12.35% |
IBCA.DE vs. VWCE.DE - Expense Ratio Comparison
IBCA.DE has a 0.15% expense ratio, which is lower than VWCE.DE's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IBCA.DE vs. VWCE.DE - Dividend Comparison
IBCA.DE's dividend yield for the trailing twelve months is around 2.18%, while VWCE.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBCA.DE iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 2.18% | 2.45% | 2.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.04% | 0.29% |
VWCE.DE Vanguard FTSE All-World UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBCA.DE and VWCE.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, IBCA.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBCA.DE is cheaper with a 0.15% expense ratio, compared with 0.19% for VWCE.DE.
IBCA.DE is categorized as European Government Bonds, while VWCE.DE is Global Equities. IBCA.DE tracks Bloomberg Euro Government Bond 1-3, while VWCE.DE tracks FTSE All-World Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.15% for IBCA.DE and 0.19% for VWCE.DE.
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