IBCZ.DE vs. UEEH.DE
IBCZ.DE (iShares Edge MSCI World Multifactor UCITS ETF USD (Acc)) and UEEH.DE (iShares Edge MSCI World Minimum Volatility UCITS ETF USD Dist) are both Global Equities funds from iShares - IBCZ.DE tracks the MSCI World Diversified Multiple-Factor while UEEH.DE tracks the MSCI World Minimum Volatility. Both are passively managed. Over the past 5 years, IBCZ.DE returned 12.00%/yr vs 5.98%/yr for UEEH.DE. A 0.68 correlation means they provide meaningful diversification when combined. IBCZ.DE charges 0.50%/yr vs 0.30%/yr for UEEH.DE.
Performance
IBCZ.DE vs. UEEH.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBCZ.DE achieves a 13.04% return, which is significantly higher than UEEH.DE's 1.54% return.
IBCZ.DE
- 1D
- -0.16%
- 1M
- 5.84%
- YTD
- 13.04%
- 6M
- 13.70%
- 1Y
- 27.80%
- 3Y*
- 18.64%
- 5Y*
- 12.00%
- 10Y*
- 11.45%
UEEH.DE
- 1D
- -0.04%
- 1M
- 1.51%
- YTD
- 1.54%
- 6M
- 1.62%
- 1Y
- -0.54%
- 3Y*
- 6.19%
- 5Y*
- 5.98%
- 10Y*
- —
IBCZ.DE vs. UEEH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IBCZ.DE iShares Edge MSCI World Multifactor UCITS ETF USD (Acc) | 13.04% | 12.05% | 24.09% | 11.45% | -10.83% | 31.27% | 8.27% |
UEEH.DE iShares Edge MSCI World Minimum Volatility UCITS ETF USD Dist | 1.54% | -1.55% | 17.56% | 3.56% | -4.40% | 23.98% | 0.94% |
Correlation
The correlation between IBCZ.DE and UEEH.DE is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Aug 24, 2020 | 0.68 |
Over the past year, the correlation between IBCZ.DE and UEEH.DE has dropped to 0.38 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.
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Return for Risk
IBCZ.DE vs. UEEH.DE — Risk / Return Rank
IBCZ.DE
UEEH.DE
IBCZ.DE vs. UEEH.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Multifactor UCITS ETF USD (Acc) (IBCZ.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.
| IBCZ.DE | UEEH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.49 | ||
| Sortino ratioReturn per unit of downside risk | +3.45 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.00 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 5.23 | -0.10 | +5.33 |
| Martin ratioReturn relative to average drawdown | 20.97 | -0.22 | +21.18 |
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
| IBCZ.DE | UEEH.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.42 | -0.07 | +2.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 0.59 | +0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 0.65 | +0.04 |
Drawdowns
IBCZ.DE vs. UEEH.DE - Drawdown Comparison
The maximum IBCZ.DE drawdown since its inception was -33.99%, which is greater than UEEH.DE's maximum drawdown of -12.82%. Use the drawdown chart below to compare losses from any high point for IBCZ.DE and UEEH.DE.
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Drawdown Indicators
| IBCZ.DE | UEEH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.99% | -12.82% | -21.17% |
Max Drawdown (1Y)Largest decline over 1 year | -5.29% | -5.49% | +0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -19.98% | -12.82% | -7.16% |
Max Drawdown (5Y)Largest decline over 5 years | -19.98% | -12.82% | -7.16% |
Max Drawdown (10Y)Largest decline over 10 years | -33.99% | — | — |
Current DrawdownCurrent decline from peak | -0.60% | -6.93% | +6.33% |
Average DrawdownAverage peak-to-trough decline | -4.52% | -4.41% | -0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.32% | 2.52% | -1.20% |
Volatility
IBCZ.DE vs. UEEH.DE - Volatility Comparison
iShares Edge MSCI World Multifactor UCITS ETF USD (Acc) (IBCZ.DE) has a higher volatility of 3.05% compared to iShares Edge MSCI World Minimum Volatility UCITS ETF USD Dist (UEEH.DE) at 2.62%. This indicates that IBCZ.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
| IBCZ.DE | UEEH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.05% | 2.62% | +0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 8.16% | 5.56% | +2.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.42% | 7.88% | +3.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.11% | 10.11% | +4.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.13% | 10.26% | +4.87% |
IBCZ.DE vs. UEEH.DE - Expense Ratio Comparison
IBCZ.DE has a 0.50% expense ratio, which is higher than UEEH.DE's 0.30% expense ratio.
Dividends
IBCZ.DE vs. UEEH.DE - Dividend Comparison
IBCZ.DE has not paid dividends to shareholders, while UEEH.DE's dividend yield for the trailing twelve months is around 1.45%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
IBCZ.DE iShares Edge MSCI World Multifactor 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 | 1.45% | 1.49% | 1.59% | 1.76% | 1.70% | 1.37% |
Frequently Asked Questions
IBCZ.DE and UEEH.DE have a correlation of 0.38, 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 0.50% for IBCZ.DE.
IBCZ.DE tracks MSCI World Diversified Multiple-Factor, while UEEH.DE tracks MSCI World Minimum Volatility. Their fees differ too: 0.50% for IBCZ.DE and 0.30% for UEEH.DE.
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