VETY.L vs. CE31.L
VETY.L (Vanguard EUR Eurozone Government Bond UCITS ETF Distributing) and CE31.L (iShares Euro Government Bond 1-3yr UCITS ETF (Acc)) are both European Government Bonds funds - VETY.L tracks the Bloomberg Euro Agg Govt TR EUR while CE31.L tracks the Bloomberg Euro Agg Govt 1-3 Yr TR EUR. Both are passively managed. Over the past 10 years, VETY.L returned 0.12%/yr vs 1.34%/yr for CE31.L. Their correlation of 0.80 suggests significant overlap in exposure. VETY.L charges 0.07%/yr vs 0.15%/yr for CE31.L.
Performance
VETY.L vs. CE31.L - Performance Comparison
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Different Trading Currencies
VETY.L is traded in GBP, while CE31.L is traded in GBp. To make them comparable, the CE31.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, VETY.L achieves a -2.03% return, which is significantly lower than CE31.L's -0.69% return. Over the past 10 years, VETY.L has underperformed CE31.L with an annualized return of 0.12%, while CE31.L has yielded a comparatively higher 1.34% annualized return.
VETY.L
- 1D
- 0.19%
- 1M
- -0.19%
- YTD
- -2.03%
- 6M
- -2.18%
- 1Y
- 0.09%
- 3Y*
- 0.38%
- 5Y*
- -3.27%
- 10Y*
- 0.12%
CE31.L
- 1D
- 0.18%
- 1M
- 0.53%
- YTD
- -0.69%
- 6M
- -0.65%
- 1Y
- 3.69%
- 3Y*
- 2.80%
- 5Y*
- 0.96%
- 10Y*
- 1.34%
VETY.L vs. CE31.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VETY.L Vanguard EUR Eurozone Government Bond UCITS ETF Distributing | -2.03% | 2.82% | -5.14% | 5.08% | -13.54% | -9.76% | 10.66% | 1.61% | 1.86% | 3.57% |
CE31.L iShares Euro Government Bond 1-3yr UCITS ETF (Acc) | -0.69% | 7.55% | -1.61% | 1.46% | 1.17% | -7.40% | 5.40% | -4.80% | 0.64% | 3.54% |
Correlation
The correlation between VETY.L and CE31.L is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2016 | 0.80 |
The correlation between VETY.L and CE31.L shifts across timeframes, from 0.70 (5 years) to 0.80 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VETY.L vs. CE31.L — Risk / Return Rank
VETY.L
CE31.L
VETY.L vs. CE31.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VETY.L) and iShares Euro Government Bond 1-3yr UCITS ETF (Acc) (CE31.L). 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.
| VETY.L | CE31.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.39 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.15 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 1.40 | -1.45 |
| Martin ratioReturn relative to average drawdown | -0.10 | 3.13 | -3.24 |
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
| VETY.L | CE31.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.04 | 0.88 | -0.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.43 | 0.18 | -0.61 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.01 | 0.19 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.04 | 0.08 | -0.03 |
Drawdowns
VETY.L vs. CE31.L - Drawdown Comparison
The maximum VETY.L drawdown since its inception was -26.39%, which is greater than CE31.L's maximum drawdown of -18.33%. Use the drawdown chart below to compare losses from any high point for VETY.L and CE31.L.
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Drawdown Indicators
| VETY.L | CE31.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.39% | -18.33% | -8.06% |
Max Drawdown (1Y)Largest decline over 1 year | -5.11% | -2.62% | -2.49% |
Max Drawdown (3Y)Largest decline over 3 years | -7.67% | -3.05% | -4.62% |
Max Drawdown (5Y)Largest decline over 5 years | -20.49% | -5.98% | -14.51% |
Max Drawdown (10Y)Largest decline over 10 years | -26.39% | -13.14% | -13.25% |
Current DrawdownCurrent decline from peak | -23.46% | -3.78% | -19.68% |
Average DrawdownAverage peak-to-trough decline | -12.50% | -7.24% | -5.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 1.17% | +1.27% |
Volatility
VETY.L vs. CE31.L - Volatility Comparison
Vanguard EUR Eurozone Government Bond UCITS ETF Distributing (VETY.L) has a higher volatility of 1.84% compared to iShares Euro Government Bond 1-3yr UCITS ETF (Acc) (CE31.L) at 1.27%. This indicates that VETY.L's price experiences larger fluctuations and is considered to be riskier than CE31.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VETY.L | CE31.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.84% | 1.27% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 4.28% | 2.87% | +1.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.64% | 4.18% | +1.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.56% | 5.29% | +2.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.54% | 7.07% | +1.47% |
VETY.L vs. CE31.L - Expense Ratio Comparison
VETY.L has a 0.07% expense ratio, which is lower than CE31.L's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VETY.L vs. CE31.L - Dividend Comparison
Neither VETY.L nor CE31.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CE31.L iShares Euro Government Bond 1-3yr UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VETY.L Vanguard EUR Eurozone Government Bond UCITS ETF Distributing | 0.00% | 0.00% | 0.28% | 2.11% | 0.54% | 0.09% | 0.17% | 0.60% | 0.63% | 0.54% | 0.37% |
Frequently Asked Questions
VETY.L and CE31.L have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VETY.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VETY.L is cheaper with a 0.07% expense ratio, compared with 0.15% for CE31.L.
VETY.L tracks Bloomberg Euro Agg Govt TR EUR, while CE31.L tracks Bloomberg Euro Agg Govt 1-3 Yr TR EUR. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.07% for VETY.L and 0.15% for CE31.L.
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