IMAE.AS vs. VWCE.DE
IMAE.AS (iShares Core MSCI Europe UCITS ETF EUR (Acc)) and VWCE.DE (Vanguard FTSE All-World UCITS ETF) are both exchange-traded funds - IMAE.AS is a Europe Equities fund tracking the MSCI Europe NR EUR, while VWCE.DE is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past 5 years, IMAE.AS returned 10.10%/yr vs 11.75%/yr for VWCE.DE. Their correlation of 0.81 suggests significant overlap in exposure. IMAE.AS charges 0.20%/yr vs 0.19%/yr for VWCE.DE.
Performance
IMAE.AS vs. VWCE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IMAE.AS achieves a 9.68% return, which is significantly lower than VWCE.DE's 12.91% return.
IMAE.AS
- 1D
- 0.00%
- 1M
- 1.63%
- YTD
- 9.68%
- 6M
- 10.15%
- 1Y
- 21.55%
- 3Y*
- 15.00%
- 5Y*
- 10.10%
- 10Y*
- 10.45%
VWCE.DE
- 1D
- -0.36%
- 1M
- 1.00%
- YTD
- 12.91%
- 6M
- 13.38%
- 1Y
- 27.21%
- 3Y*
- 18.35%
- 5Y*
- 11.75%
- 10Y*
- —
IMAE.AS vs. VWCE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IMAE.AS iShares Core MSCI Europe UCITS ETF EUR (Acc) | 9.68% | 19.74% | 8.89% | 15.99% | -9.31% | 25.66% | -3.06% | 6.53% |
VWCE.DE Vanguard FTSE All-World UCITS ETF | 12.91% | 9.16% | 24.41% | 18.18% | -13.47% | 28.62% | 5.36% | 7.08% |
Correlation
The correlation between IMAE.AS and VWCE.DE is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2019 | 0.81 |
The correlation between IMAE.AS and VWCE.DE has been stable across timeframes, ranging from 0.73 to 0.81 - a consistent structural relationship.
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Return for Risk
IMAE.AS vs. VWCE.DE — Risk / Return Rank
IMAE.AS
VWCE.DE
IMAE.AS vs. VWCE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Europe UCITS ETF EUR (Acc) (IMAE.AS) 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.
| IMAE.AS | VWCE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.43 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | 4.14 | -1.89 |
| Martin ratioReturn relative to average drawdown | 8.54 | 16.98 | -8.44 |
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Drawdowns
IMAE.AS vs. VWCE.DE - Drawdown Comparison
The maximum IMAE.AS drawdown since its inception was -35.60%, which is greater than VWCE.DE's maximum drawdown of -33.43%. Use the drawdown chart below to compare losses from any high point for IMAE.AS and VWCE.DE.
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Drawdown Indicators
| IMAE.AS | VWCE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.60% | -33.43% | -2.17% |
Max Drawdown (1Y)Largest decline over 1 year | -9.47% | -6.55% | -2.92% |
Max Drawdown (3Y)Largest decline over 3 years | -16.51% | -21.07% | +4.56% |
Max Drawdown (5Y)Largest decline over 5 years | -19.44% | -21.07% | +1.63% |
Max Drawdown (10Y)Largest decline over 10 years | -35.60% | — | — |
Current DrawdownCurrent decline from peak | -0.58% | -1.11% | +0.53% |
Average DrawdownAverage peak-to-trough decline | -5.35% | -4.66% | -0.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 1.60% | +0.91% |
Volatility
IMAE.AS vs. VWCE.DE - Volatility Comparison
The current volatility for iShares Core MSCI Europe UCITS ETF EUR (Acc) (IMAE.AS) is 2.77%, while Vanguard FTSE All-World UCITS ETF (VWCE.DE) has a volatility of 3.43%. This indicates that IMAE.AS 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
| IMAE.AS | VWCE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.77% | 3.43% | -0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 10.76% | 8.47% | +2.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.79% | 11.65% | +1.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.15% | 13.81% | +0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.28% | 16.14% | -0.86% |
IMAE.AS vs. VWCE.DE - Expense Ratio Comparison
IMAE.AS has a 0.20% expense ratio, which is higher than VWCE.DE's 0.19% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IMAE.AS vs. VWCE.DE - Dividend Comparison
Neither IMAE.AS nor VWCE.DE has paid dividends to shareholders.
Frequently Asked Questions
IMAE.AS and VWCE.DE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VWCE.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VWCE.DE is cheaper with a 0.19% expense ratio, compared with 0.20% for IMAE.AS.
IMAE.AS is categorized as Europe Equities, while VWCE.DE is Global Equities. IMAE.AS tracks MSCI Europe NR EUR, while VWCE.DE tracks FTSE All-World Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.20% for IMAE.AS and 0.19% for VWCE.DE.
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