VWCE.DE vs. EFRN.DE
VWCE.DE (Vanguard FTSE All-World UCITS ETF) and EFRN.DE (iShares EUR Floating Rate Bond ESG UCITS ETF EUR (Dist)) are both exchange-traded funds - VWCE.DE is a Global Equities fund tracking the FTSE All-World Index, while EFRN.DE is a European Corporate Bonds fund tracking the Bloomberg Euro Agg Corp 1-3 Yr TR EUR. Both are passively managed. Over the past 5 years, VWCE.DE returned 11.75%/yr vs 2.39%/yr for EFRN.DE. At a 0.01 correlation, their price movements are largely independent. VWCE.DE charges 0.19%/yr vs 0.10%/yr for EFRN.DE.
Performance
VWCE.DE vs. EFRN.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VWCE.DE achieves a 12.91% return, which is significantly higher than EFRN.DE's 1.22% return.
VWCE.DE
- 1D
- -0.36%
- 1M
- 1.00%
- YTD
- 12.91%
- 6M
- 13.38%
- 1Y
- 27.21%
- 3Y*
- 18.35%
- 5Y*
- 11.75%
- 10Y*
- —
EFRN.DE
- 1D
- 0.20%
- 1M
- 0.40%
- YTD
- 1.22%
- 6M
- 1.42%
- 1Y
- 2.72%
- 3Y*
- 3.68%
- 5Y*
- 2.39%
- 10Y*
- —
VWCE.DE vs. EFRN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VWCE.DE Vanguard FTSE All-World UCITS ETF | 12.91% | 9.16% | 24.41% | 18.18% | -13.47% | 28.62% | 5.36% | 7.08% |
EFRN.DE iShares EUR Floating Rate Bond ESG UCITS ETF EUR (Dist) | 1.22% | 2.91% | 4.29% | 4.00% | -0.00% | -0.20% | 0.00% | -0.00% |
Correlation
The correlation between VWCE.DE and EFRN.DE is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2019 | 0.01 |
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Return for Risk
VWCE.DE vs. EFRN.DE — Risk / Return Rank
VWCE.DE
EFRN.DE
VWCE.DE vs. EFRN.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World UCITS ETF (VWCE.DE) and iShares EUR Floating Rate Bond ESG UCITS ETF EUR (Dist) (EFRN.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.
| VWCE.DE | EFRN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.66 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.49 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 4.14 | 7.30 | -3.16 |
| Martin ratioReturn relative to average drawdown | 16.98 | 27.93 | -10.96 |
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Drawdowns
VWCE.DE vs. EFRN.DE - Drawdown Comparison
The maximum VWCE.DE drawdown since its inception was -33.43%, which is greater than EFRN.DE's maximum drawdown of -5.58%. Use the drawdown chart below to compare losses from any high point for VWCE.DE and EFRN.DE.
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Drawdown Indicators
| VWCE.DE | EFRN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.43% | -5.58% | -27.85% |
Max Drawdown (1Y)Largest decline over 1 year | -6.55% | -0.37% | -6.18% |
Max Drawdown (3Y)Largest decline over 3 years | -21.07% | -0.39% | -20.68% |
Max Drawdown (5Y)Largest decline over 5 years | -21.07% | -1.20% | -19.87% |
Current DrawdownCurrent decline from peak | -1.11% | 0.00% | -1.11% |
Average DrawdownAverage peak-to-trough decline | -4.66% | -0.29% | -4.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 0.10% | +1.50% |
Volatility
VWCE.DE vs. EFRN.DE - Volatility Comparison
Vanguard FTSE All-World UCITS ETF (VWCE.DE) has a higher volatility of 3.43% compared to iShares EUR Floating Rate Bond ESG UCITS ETF EUR (Dist) (EFRN.DE) at 0.27%. This indicates that VWCE.DE's price experiences larger fluctuations and is considered to be riskier than EFRN.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWCE.DE | EFRN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.43% | 0.27% | +3.16% |
Volatility (6M)Calculated over the trailing 6-month period | 8.47% | 1.16% | +7.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.65% | 1.63% | +10.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.81% | 1.46% | +12.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.14% | 1.70% | +14.44% |
VWCE.DE vs. EFRN.DE - Expense Ratio Comparison
VWCE.DE has a 0.19% expense ratio, which is higher than EFRN.DE's 0.10% 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
VWCE.DE vs. EFRN.DE - Dividend Comparison
VWCE.DE has not paid dividends to shareholders, while EFRN.DE's dividend yield for the trailing twelve months is around 2.49%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
EFRN.DE iShares EUR Floating Rate Bond ESG UCITS ETF EUR (Dist) | 2.49% | 2.88% | 4.22% | 2.93% | 0.00% | 0.00% | 0.00% |
VWCE.DE Vanguard FTSE All-World UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VWCE.DE and EFRN.DE have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EFRN.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EFRN.DE is cheaper with a 0.10% expense ratio, compared with 0.19% for VWCE.DE.
VWCE.DE is categorized as Global Equities, while EFRN.DE is European Corporate Bonds. VWCE.DE tracks FTSE All-World Index, while EFRN.DE tracks Bloomberg Euro Agg Corp 1-3 Yr TR EUR. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.19% for VWCE.DE and 0.10% for EFRN.DE.
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