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IESE.AS vs. IWRD.AS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IESE.AS vs. IWRD.AS

Last updated Jun 4, 2026

IESE.AS (iShares MSCI Europe SRI UCITS ETF EUR (Acc)) and IWRD.AS (iShares MSCI World UCITS ETF) are both exchange-traded funds - IESE.AS is a Europe Equities fund tracking the MSCI Europe NR EUR, while IWRD.AS is a Global Equities fund tracking the MSCI ACWI NR USD. Both are passively managed. Over the past 10 years, IESE.AS returned 7.82%/yr vs 12.57%/yr for IWRD.AS. A 0.73 correlation means they provide meaningful diversification when combined. IESE.AS charges 0.20%/yr vs 0.50%/yr for IWRD.AS.

Performance

IESE.AS vs. IWRD.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares MSCI Europe SRI UCITS ETF EUR (Acc) (IESE.AS) and iShares MSCI World UCITS ETF (IWRD.AS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IESE.AS achieves a 6.26% return, which is significantly lower than IWRD.AS's 11.01% return. Over the past 10 years, IESE.AS has underperformed IWRD.AS with an annualized return of 7.82%, while IWRD.AS has yielded a comparatively higher 12.57% annualized return.

IESE.AS

1D
-0.98%
1M
4.02%
YTD
6.26%
6M
8.13%
1Y
5.45%
3Y*
6.57%
5Y*
5.21%
10Y*
7.82%

IWRD.AS

1D
-0.25%
1M
5.53%
YTD
11.01%
6M
11.58%
1Y
23.56%
3Y*
17.32%
5Y*
12.58%
10Y*
12.57%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IESE.AS vs. IWRD.AS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IESE.AS
iShares MSCI Europe SRI UCITS ETF EUR (Acc)		6.26%2.40%6.46%16.38%-14.87%27.26%3.74%29.04%-6.71%11.41%
IWRD.AS
iShares MSCI World UCITS ETF		11.01%6.83%26.78%19.68%-13.85%32.06%5.87%29.11%-4.38%7.51%

Correlation

The correlation between IESE.AS and IWRD.AS is 0.73, 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

0.73

Correlation (3Y)
Calculated over the trailing 3-year period

0.71

Correlation (5Y)
Calculated over the trailing 5-year period

0.76

Correlation (10Y)
Calculated over the trailing 10-year period

0.79

Correlation (All Time)
Calculated using the full available price history since Jun 2, 2011

0.73

The correlation between IESE.AS and IWRD.AS has been stable across timeframes, ranging from 0.71 to 0.79 - a consistent structural relationship.

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iShares MSCI Europe SRI UCITS ETF EUR (Acc)

iShares MSCI World UCITS ETF

Often compared with IESE.AS:
IESE.AS vs. EUEA.ASIESE.AS vs. VWCE.DEIESE.AS vs. 2B7K.DEIESE.AS vs. EUMD.LIESE.AS vs. VTIESE.AS vs. IWDA.ASIESE.AS vs. VGEU.DE
Often compared with IWRD.AS:
IWRD.AS vs. VWCE.DEIWRD.AS vs. VWRL.ASIWRD.AS vs. VUSA.ASIWRD.AS vs. ICHN.ASIWRD.AS vs. VWCG.DEIWRD.AS vs. 2B7K.DEIWRD.AS vs. CSPX.L

Return for Risk

IESE.AS vs. IWRD.AS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IESE.AS
IESE.AS Risk / Return Rank: 1515
Overall Rank
IESE.AS Sharpe Ratio Rank: 1515
Sharpe Ratio Rank
IESE.AS Sortino Ratio Rank: 1414
Sortino Ratio Rank
IESE.AS Omega Ratio Rank: 1414
Omega Ratio Rank
IESE.AS Calmar Ratio Rank: 1515
Calmar Ratio Rank
IESE.AS Martin Ratio Rank: 1616
Martin Ratio Rank
IWRD.AS
IWRD.AS Risk / Return Rank: 6767
Overall Rank
IWRD.AS Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
IWRD.AS Sortino Ratio Rank: 6363
Sortino Ratio Rank
IWRD.AS Omega Ratio Rank: 6565
Omega Ratio Rank
IWRD.AS Calmar Ratio Rank: 6969
Calmar Ratio Rank
IWRD.AS Martin Ratio Rank: 7373
Martin Ratio Rank
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.

IESE.AS vs. IWRD.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe SRI UCITS ETF EUR (Acc) (IESE.AS) and iShares MSCI World UCITS ETF (IWRD.AS). 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.

IESE.ASIWRD.ASDifference
Sharpe ratioReturn per unit of total volatility
0.40
2.12

-1.72

Sortino ratioReturn per unit of downside risk
0.67
2.98

-2.31

Omega ratioGain probability vs. loss probability

1.08

1.40

-0.32

Calmar ratioReturn relative to maximum drawdown

0.54

3.48

-2.94

Martin ratioReturn relative to average drawdown

1.41

13.70

-12.29

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IESE.AS vs. IWRD.AS - Sharpe Ratio Comparison

The current IESE.AS Sharpe Ratio is 0.40, which is lower than the IWRD.AS Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of IESE.AS and IWRD.AS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IESE.ASIWRD.ASDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.40

2.12

-1.72

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.35

0.88

-0.52

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.50

0.82

-0.31

Sharpe Ratio (All Time)

Calculated using the full available price history

0.50

0.50

0.00

Drawdowns

IESE.AS vs. IWRD.AS - Drawdown Comparison

The maximum IESE.AS drawdown since its inception was -33.34%, smaller than the maximum IWRD.AS drawdown of -52.51%. Use the drawdown chart below to compare losses from any high point for IESE.AS and IWRD.AS.

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Drawdown Indicators

IESE.ASIWRD.ASDifference

Max Drawdown

Largest peak-to-trough decline

-33.34%

-52.51%

+19.17%

Max Drawdown (1Y)

Largest decline over 1 year

-10.05%

-6.69%

-3.36%

Max Drawdown (3Y)

Largest decline over 3 years

-15.79%

-21.50%

+5.71%

Max Drawdown (5Y)

Largest decline over 5 years

-23.66%

-21.50%

-2.16%

Max Drawdown (10Y)

Largest decline over 10 years

-33.34%

-33.71%

+0.37%

Current Drawdown

Current decline from peak

-1.88%

-0.25%

-1.63%

Average Drawdown

Average peak-to-trough decline

-6.13%

-8.84%

+2.71%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.84%

1.71%

+2.13%

Volatility

IESE.AS vs. IWRD.AS - Volatility Comparison

iShares MSCI Europe SRI UCITS ETF EUR (Acc) (IESE.AS) has a higher volatility of 4.74% compared to iShares MSCI World UCITS ETF (IWRD.AS) at 2.81%. This indicates that IESE.AS's price experiences larger fluctuations and is considered to be riskier than IWRD.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IESE.ASIWRD.ASDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.74%

2.81%

+1.93%

Volatility (6M)

Calculated over the trailing 6-month period

10.86%

7.72%

+3.14%

Volatility (1Y)

Calculated over the trailing 1-year period

13.40%

11.04%

+2.36%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.49%

14.14%

+0.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.29%

15.16%

+0.13%

IESE.AS vs. IWRD.AS - Expense Ratio Comparison

IESE.AS has a 0.20% expense ratio, which is lower than IWRD.AS's 0.50% expense ratio.

Dividends

IESE.AS vs. IWRD.AS - Dividend Comparison

IESE.AS has not paid dividends to shareholders, while IWRD.AS's dividend yield for the trailing twelve months is around 0.85%.

PositionTTM20252024202320222021202020192018201720162015
IESE.AS
iShares MSCI Europe SRI UCITS ETF EUR (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
IWRD.AS
iShares MSCI World UCITS ETF		0.85%0.95%1.05%1.32%1.49%1.01%1.21%1.62%1.84%1.67%1.70%1.80%

Frequently Asked Questions

IESE.AS and IWRD.AS have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

IESE.AS is cheaper with a 0.20% expense ratio, compared with 0.50% for IWRD.AS.

IESE.AS is categorized as Europe Equities, while IWRD.AS is Global Equities. IESE.AS tracks MSCI Europe NR EUR, while IWRD.AS tracks MSCI ACWI NR USD. Their fees differ too: 0.20% for IESE.AS and 0.50% for IWRD.AS.

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