VGEU.DE vs. IESE.AS
VGEU.DE (Vanguard FTSE Developed Europe UCITS ETF Distributing) and IESE.AS (iShares MSCI Europe SRI UCITS ETF EUR (Acc)) are both Europe Equities funds - VGEU.DE tracks the FTSE Developed Europe while IESE.AS tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, VGEU.DE returned 9.61%/yr vs 7.87%/yr for IESE.AS. A 0.80 correlation means they provide meaningful diversification when combined. VGEU.DE charges 0.10%/yr vs 0.20%/yr for IESE.AS.
Performance
VGEU.DE vs. IESE.AS - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with VGEU.DE having a 7.29% return and IESE.AS slightly lower at 7.16%. Over the past 10 years, VGEU.DE has outperformed IESE.AS with an annualized return of 9.61%, while IESE.AS has yielded a comparatively lower 7.87% annualized return.
VGEU.DE
- 1D
- 0.50%
- 1M
- 0.90%
- YTD
- 7.29%
- 6M
- 9.88%
- 1Y
- 16.08%
- 3Y*
- 14.08%
- 5Y*
- 9.90%
- 10Y*
- 9.61%
IESE.AS
- 1D
- 0.85%
- 1M
- 1.61%
- YTD
- 7.16%
- 6M
- 8.45%
- 1Y
- 5.82%
- 3Y*
- 7.02%
- 5Y*
- 5.38%
- 10Y*
- 7.87%
VGEU.DE vs. IESE.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGEU.DE Vanguard FTSE Developed Europe UCITS ETF Distributing | 7.29% | 20.52% | 8.94% | 16.01% | -9.86% | 24.89% | -2.75% | 27.89% | -11.15% | 11.49% |
IESE.AS iShares MSCI Europe SRI UCITS ETF EUR (Acc) | 7.16% | 2.40% | 6.46% | 16.38% | -14.87% | 27.26% | 3.74% | 29.04% | -6.71% | 11.41% |
Correlation
The correlation between VGEU.DE and IESE.AS is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2015 | 0.80 |
The correlation between VGEU.DE and IESE.AS shifts across timeframes, from 0.80 (all time) to 0.94 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VGEU.DE vs. IESE.AS — Risk / Return Rank
VGEU.DE
IESE.AS
VGEU.DE vs. IESE.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Developed Europe UCITS ETF Distributing (VGEU.DE) and iShares MSCI Europe SRI UCITS ETF EUR (Acc) (IESE.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.
| VGEU.DE | IESE.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.08 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 0.53 | +1.16 |
| Martin ratioReturn relative to average drawdown | 6.33 | 1.40 | +4.93 |
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
| VGEU.DE | IESE.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 0.40 | +0.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.37 | +0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.67 | 0.51 | +0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.51 | +0.05 |
Drawdowns
VGEU.DE vs. IESE.AS - Drawdown Comparison
The maximum VGEU.DE drawdown since its inception was -35.59%, which is greater than IESE.AS's maximum drawdown of -33.34%. Use the drawdown chart below to compare losses from any high point for VGEU.DE and IESE.AS.
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Drawdown Indicators
| VGEU.DE | IESE.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.59% | -33.34% | -2.25% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -10.05% | +0.46% |
Max Drawdown (3Y)Largest decline over 3 years | -16.46% | -15.79% | -0.67% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | -23.66% | +3.55% |
Max Drawdown (10Y)Largest decline over 10 years | -35.59% | -33.34% | -2.25% |
Current DrawdownCurrent decline from peak | -1.53% | -1.05% | -0.48% |
Average DrawdownAverage peak-to-trough decline | -5.03% | -6.13% | +1.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.56% | 3.84% | -1.28% |
Volatility
VGEU.DE vs. IESE.AS - Volatility Comparison
Vanguard FTSE Developed Europe UCITS ETF Distributing (VGEU.DE) and iShares MSCI Europe SRI UCITS ETF EUR (Acc) (IESE.AS) have volatilities of 4.29% and 4.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGEU.DE | IESE.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.29% | 4.41% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 10.60% | 10.88% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.81% | 13.42% | -0.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.35% | 14.49% | -0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.34% | 15.29% | +1.05% |
VGEU.DE vs. IESE.AS - Expense Ratio Comparison
VGEU.DE has a 0.10% expense ratio, which is lower than IESE.AS's 0.20% 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
VGEU.DE vs. IESE.AS - Dividend Comparison
VGEU.DE's dividend yield for the trailing twelve months is around 2.60%, while IESE.AS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IESE.AS iShares MSCI Europe SRI UCITS ETF EUR (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% |
VGEU.DE Vanguard FTSE Developed Europe UCITS ETF Distributing | 2.60% | 2.79% | 3.07% | 2.99% | 3.31% | 2.65% | 2.23% | 3.22% | 3.65% | 3.04% | 3.20% | 3.11% |
Frequently Asked Questions
With a correlation of 0.93, VGEU.DE and IESE.AS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, VGEU.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEU.DE is cheaper with a 0.10% expense ratio, compared with 0.20% for IESE.AS.
VGEU.DE tracks FTSE Developed Europe, while IESE.AS tracks MSCI Europe NR EUR. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.10% for VGEU.DE and 0.20% for IESE.AS.
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