IWLE.DE vs. CBUG.DE
IWLE.DE (iShares Core MSCI World UCITS ETF EUR Hedged Dist) and CBUG.DE (iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist)) are both Global Equities funds from iShares - IWLE.DE tracks the MSCI World Net TR Index while CBUG.DE tracks the MSCI ACWI SMID NR USD. Both are passively managed. Over the past 3 years, IWLE.DE returned 17.76%/yr vs 15.67%/yr for CBUG.DE. A 0.80 correlation means they provide meaningful diversification when combined. IWLE.DE charges 0.30%/yr vs 0.10%/yr for CBUG.DE.
Performance
IWLE.DE vs. CBUG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IWLE.DE achieves a 7.23% return, which is significantly lower than CBUG.DE's 18.13% return.
IWLE.DE
- 1D
- -0.47%
- 1M
- -0.85%
- YTD
- 7.23%
- 6M
- 7.12%
- 1Y
- 20.78%
- 3Y*
- 17.76%
- 5Y*
- 10.03%
- 10Y*
- —
CBUG.DE
- 1D
- 0.65%
- 1M
- 4.21%
- YTD
- 18.13%
- 6M
- 18.13%
- 1Y
- 33.69%
- 3Y*
- 15.67%
- 5Y*
- —
- 10Y*
- —
IWLE.DE vs. CBUG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IWLE.DE iShares Core MSCI World UCITS ETF EUR Hedged Dist | 7.23% | 16.76% | 19.70% | 21.53% | -18.71% | 2.57% |
CBUG.DE iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist) | 18.13% | 6.50% | 13.10% | 11.25% | -14.07% | 2.02% |
Correlation
The correlation between IWLE.DE and CBUG.DE is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2021 | 0.80 |
The correlation between IWLE.DE and CBUG.DE shifts across timeframes, from 0.65 (1 year) to 0.80 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IWLE.DE vs. CBUG.DE — Risk / Return Rank
IWLE.DE
CBUG.DE
IWLE.DE vs. CBUG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI World UCITS ETF EUR Hedged Dist (IWLE.DE) and iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist) (CBUG.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.
| IWLE.DE | CBUG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.43 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 4.63 | -2.06 |
| Martin ratioReturn relative to average drawdown | 11.25 | 17.68 | -6.43 |
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Drawdowns
IWLE.DE vs. CBUG.DE - Drawdown Comparison
The maximum IWLE.DE drawdown since its inception was -32.76%, which is greater than CBUG.DE's maximum drawdown of -24.57%. Use the drawdown chart below to compare losses from any high point for IWLE.DE and CBUG.DE.
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Drawdown Indicators
| IWLE.DE | CBUG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.76% | -24.57% | -8.19% |
Max Drawdown (1Y)Largest decline over 1 year | -8.05% | -7.24% | -0.81% |
Max Drawdown (3Y)Largest decline over 3 years | -17.60% | -24.57% | +6.97% |
Max Drawdown (5Y)Largest decline over 5 years | -23.49% | — | — |
Current DrawdownCurrent decline from peak | -1.77% | 0.00% | -1.77% |
Average DrawdownAverage peak-to-trough decline | -5.27% | -7.41% | +2.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.84% | 1.90% | -0.06% |
Volatility
IWLE.DE vs. CBUG.DE - Volatility Comparison
iShares Core MSCI World UCITS ETF EUR Hedged Dist (IWLE.DE) has a higher volatility of 4.07% compared to iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist) (CBUG.DE) at 3.37%. This indicates that IWLE.DE's price experiences larger fluctuations and is considered to be riskier than CBUG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWLE.DE | CBUG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.07% | 3.37% | +0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 9.70% | 10.00% | -0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.33% | 13.98% | -1.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.02% | 16.66% | -1.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.76% | 16.66% | +0.10% |
IWLE.DE vs. CBUG.DE - Expense Ratio Comparison
IWLE.DE has a 0.30% expense ratio, which is higher than CBUG.DE's 0.10% expense ratio.
Dividends
IWLE.DE vs. CBUG.DE - Dividend Comparison
IWLE.DE's dividend yield for the trailing twelve months is around 1.05%, while CBUG.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CBUG.DE iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IWLE.DE iShares Core MSCI World UCITS ETF EUR Hedged Dist | 1.05% | 1.11% | 1.27% | 1.43% | 1.76% | 1.20% | 1.04% | 0.53% |
Frequently Asked Questions
IWLE.DE and CBUG.DE have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CBUG.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBUG.DE is cheaper with a 0.10% expense ratio, compared with 0.30% for IWLE.DE.
IWLE.DE tracks MSCI World Net TR Index, while CBUG.DE tracks MSCI ACWI SMID NR USD. Their fees differ too: 0.30% for IWLE.DE and 0.10% for CBUG.DE.
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