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

IESE.AS vs. WINC.AS

Last updated Jun 4, 2026

IESE.AS (iShares MSCI Europe SRI UCITS ETF EUR (Acc)) and WINC.AS (iShares World Equity High Income UCITS ETF USD Inc) are both exchange-traded funds - IESE.AS is a Europe Equities fund tracking the MSCI Europe NR EUR, while WINC.AS is a Global Equity Income fund actively managed by iShares. IESE.AS is passively managed, while WINC.AS is actively managed. Over the past year, IESE.AS returned 5.45% vs 22.52% for WINC.AS. A 0.56 correlation means they provide meaningful diversification when combined. IESE.AS charges 0.20%/yr vs 0.35%/yr for WINC.AS.

Performance

IESE.AS vs. WINC.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 World Equity High Income UCITS ETF USD Inc (WINC.AS). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IESE.AS is traded in EUR, while WINC.AS is traded in USD. To make them comparable, the WINC.AS values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IESE.AS achieves a 6.26% return, which is significantly lower than WINC.AS's 9.49% 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%

WINC.AS

1D
-0.33%
1M
3.94%
YTD
9.49%
6M
10.50%
1Y
22.52%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024
IESE.AS
iShares MSCI Europe SRI UCITS ETF EUR (Acc)		6.26%2.40%0.09%
WINC.AS
iShares World Equity High Income UCITS ETF USD Inc		9.49%7.70%12.74%

Correlation

The correlation between IESE.AS and WINC.AS is 0.64, 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

0.64

Correlation (All Time)
Calculated using the full available price history since Apr 3, 2024

0.56

The correlation between IESE.AS and WINC.AS has been stable across timeframes, ranging from 0.56 to 0.64 - a consistent structural relationship.

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iShares MSCI Europe SRI UCITS ETF EUR (Acc)

iShares World Equity High Income UCITS ETF USD Inc

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 WINC.AS:
WINC.AS vs. JEPQWINC.AS vs. JEPG.LWINC.AS vs. JEQP.LWINC.AS vs. VWRL.ASWINC.AS vs. SWDA.LWINC.AS vs. TDGB.LWINC.AS vs. QQQI

Return for Risk

IESE.AS vs. WINC.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
WINC.AS
WINC.AS Risk / Return Rank: 7474
Overall Rank
WINC.AS Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
WINC.AS Sortino Ratio Rank: 7878
Sortino Ratio Rank
WINC.AS Omega Ratio Rank: 7070
Omega Ratio Rank
WINC.AS Calmar Ratio Rank: 7373
Calmar Ratio Rank
WINC.AS Martin Ratio Rank: 7979
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. WINC.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 World Equity High Income UCITS ETF USD Inc (WINC.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.ASWINC.ASDifference
Sharpe ratioReturn per unit of total volatility
0.40
2.06

-1.66

Sortino ratioReturn per unit of downside risk
0.67
2.91

-2.24

Omega ratioGain probability vs. loss probability

1.08

1.38

-0.30

Calmar ratioReturn relative to maximum drawdown

0.54

5.27

-4.73

Martin ratioReturn relative to average drawdown

1.41

18.52

-17.11

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. WINC.AS - Sharpe Ratio Comparison

The current IESE.AS Sharpe Ratio is 0.40, which is lower than the WINC.AS Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of IESE.AS and WINC.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.ASWINC.ASDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.40

2.06

-1.66

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.35

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.50

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.50

1.18

-0.68

Drawdowns

IESE.AS vs. WINC.AS - Drawdown Comparison

The maximum IESE.AS drawdown since its inception was -33.34%, which is greater than WINC.AS's maximum drawdown of -18.74%. Use the drawdown chart below to compare losses from any high point for IESE.AS and WINC.AS.

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Drawdown Indicators

IESE.ASWINC.ASDifference

Max Drawdown

Largest peak-to-trough decline

-33.34%

-18.74%

-14.60%

Max Drawdown (1Y)

Largest decline over 1 year

-10.05%

-4.26%

-5.79%

Max Drawdown (3Y)

Largest decline over 3 years

-15.79%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-23.66%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-33.34%

—

—

Current Drawdown

Current decline from peak

-1.88%

-0.69%

-1.19%

Average Drawdown

Average peak-to-trough decline

-6.13%

-3.04%

-3.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.84%

1.21%

+2.63%

Volatility

IESE.AS vs. WINC.AS - Volatility Comparison

iShares MSCI Europe SRI UCITS ETF EUR (Acc) (IESE.AS) has a higher volatility of 4.74% compared to iShares World Equity High Income UCITS ETF USD Inc (WINC.AS) at 2.94%. This indicates that IESE.AS's price experiences larger fluctuations and is considered to be riskier than WINC.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.ASWINC.ASDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.74%

2.94%

+1.80%

Volatility (6M)

Calculated over the trailing 6-month period

10.86%

8.04%

+2.82%

Volatility (1Y)

Calculated over the trailing 1-year period

13.40%

10.89%

+2.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.49%

14.39%

+0.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.29%

14.39%

+0.90%

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

IESE.AS has a 0.20% expense ratio, which is lower than WINC.AS's 0.35% expense ratio.

Dividends

IESE.AS vs. WINC.AS - Dividend Comparison

IESE.AS has not paid dividends to shareholders, while WINC.AS's dividend yield for the trailing twelve months is around 9.70%.

PositionTTM20252024
IESE.AS
iShares MSCI Europe SRI UCITS ETF EUR (Acc)		0.00%0.00%0.00%
WINC.AS
iShares World Equity High Income UCITS ETF USD Inc		9.70%9.38%4.88%

Frequently Asked Questions

IESE.AS and WINC.AS have a correlation of 0.64, 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 0.35% for WINC.AS.

IESE.AS is categorized as Europe Equities, while WINC.AS is Global Equity Income. Their fees differ too: 0.20% for IESE.AS and 0.35% for WINC.AS.

Portfolio Optimizer

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