TSWE.AS vs. IBCZ.DE
TSWE.AS (VanEck Sustainable World Equal Weight UCITS ETF) and IBCZ.DE (iShares Edge MSCI World Multifactor UCITS ETF USD (Acc)) are both Global Equities funds - TSWE.AS tracks the MSCI ACWI NR USD while IBCZ.DE tracks the MSCI World Diversified Multiple-Factor. Both are passively managed. Over the past 10 years, TSWE.AS returned 12.01%/yr vs 11.49%/yr for IBCZ.DE. Their correlation of 0.90 suggests significant overlap in exposure. TSWE.AS charges 0.20%/yr vs 0.50%/yr for IBCZ.DE.
Performance
TSWE.AS vs. IBCZ.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with TSWE.AS having a 13.49% return and IBCZ.DE slightly lower at 13.22%. Both investments have delivered pretty close results over the past 10 years, with TSWE.AS having a 12.01% annualized return and IBCZ.DE not far behind at 11.49%.
TSWE.AS
- 1D
- -0.19%
- 1M
- 7.45%
- YTD
- 13.49%
- 6M
- 16.16%
- 1Y
- 26.33%
- 3Y*
- 17.11%
- 5Y*
- 11.64%
- 10Y*
- 12.01%
IBCZ.DE
- 1D
- -0.44%
- 1M
- 6.92%
- YTD
- 13.22%
- 6M
- 14.20%
- 1Y
- 27.98%
- 3Y*
- 18.79%
- 5Y*
- 12.03%
- 10Y*
- 11.49%
TSWE.AS vs. IBCZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TSWE.AS VanEck Sustainable World Equal Weight UCITS ETF | 13.49% | 13.10% | 17.22% | 16.38% | -13.18% | 29.50% | 5.58% | 26.46% | -5.21% | 8.51% |
IBCZ.DE iShares Edge MSCI World Multifactor UCITS ETF USD (Acc) | 13.22% | 12.05% | 24.09% | 11.45% | -10.83% | 31.27% | 0.44% | 24.79% | -8.31% | 11.03% |
Correlation
The correlation between TSWE.AS and IBCZ.DE is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2015 | 0.90 |
The correlation between TSWE.AS and IBCZ.DE has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.
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Return for Risk
TSWE.AS vs. IBCZ.DE — Risk / Return Rank
TSWE.AS
IBCZ.DE
TSWE.AS vs. IBCZ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Sustainable World Equal Weight UCITS ETF (TSWE.AS) and iShares Edge MSCI World Multifactor UCITS ETF USD (Acc) (IBCZ.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.
| TSWE.AS | IBCZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.45 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.26 | 5.27 | -2.01 |
| Martin ratioReturn relative to average drawdown | 12.78 | 21.11 | -8.33 |
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
| TSWE.AS | IBCZ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.04 | 2.44 | -0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 0.84 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | 0.75 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.73 | 0.69 | +0.05 |
Drawdowns
TSWE.AS vs. IBCZ.DE - Drawdown Comparison
The maximum TSWE.AS drawdown since its inception was -33.67%, roughly equal to the maximum IBCZ.DE drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for TSWE.AS and IBCZ.DE.
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Drawdown Indicators
| TSWE.AS | IBCZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.67% | -33.99% | +0.32% |
Max Drawdown (1Y)Largest decline over 1 year | -7.97% | -5.29% | -2.68% |
Max Drawdown (3Y)Largest decline over 3 years | -19.53% | -19.98% | +0.45% |
Max Drawdown (5Y)Largest decline over 5 years | -19.53% | -19.98% | +0.45% |
Max Drawdown (10Y)Largest decline over 10 years | -33.67% | -33.99% | +0.32% |
Current DrawdownCurrent decline from peak | -0.19% | -0.44% | +0.25% |
Average DrawdownAverage peak-to-trough decline | -4.83% | -4.52% | -0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 1.32% | +0.73% |
Volatility
TSWE.AS vs. IBCZ.DE - Volatility Comparison
VanEck Sustainable World Equal Weight UCITS ETF (TSWE.AS) has a higher volatility of 3.66% compared to iShares Edge MSCI World Multifactor UCITS ETF USD (Acc) (IBCZ.DE) at 3.05%. This indicates that TSWE.AS's price experiences larger fluctuations and is considered to be riskier than IBCZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSWE.AS | IBCZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.66% | 3.05% | +0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 9.92% | 8.16% | +1.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.76% | 11.45% | +1.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.65% | 14.11% | -0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.93% | 15.13% | -0.20% |
TSWE.AS vs. IBCZ.DE - Expense Ratio Comparison
TSWE.AS has a 0.20% expense ratio, which is lower than IBCZ.DE's 0.50% expense ratio.
Dividends
TSWE.AS vs. IBCZ.DE - Dividend Comparison
TSWE.AS's dividend yield for the trailing twelve months is around 2.57%, while IBCZ.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBCZ.DE iShares Edge MSCI World Multifactor UCITS ETF USD (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% |
TSWE.AS VanEck Sustainable World Equal Weight UCITS ETF | 1.83% | 1.94% | 2.18% | 2.23% | 2.38% | 1.64% | 1.88% | 2.34% | 2.45% | 2.09% | 1.85% | 1.87% |
Frequently Asked Questions
TSWE.AS and IBCZ.DE have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TSWE.AS is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TSWE.AS is cheaper with a 0.20% expense ratio, compared with 0.50% for IBCZ.DE.
TSWE.AS tracks MSCI ACWI NR USD, while IBCZ.DE tracks MSCI World Diversified Multiple-Factor. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.20% for TSWE.AS and 0.50% for IBCZ.DE.
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