VWCE.DE vs. IS3M.DE
VWCE.DE (Vanguard FTSE All-World UCITS ETF) and IS3M.DE (iShares € Ultrashort Bond UCITS ETF) are both exchange-traded funds - VWCE.DE is a Global Equities fund tracking the FTSE All-World Index, while IS3M.DE is a Ultrashort Bond fund tracking the Markit iBoxx EUR Liquid Investment Grade Ultrashort Index (EUR). Both are passively managed. Over the past 5 years, VWCE.DE returned 11.75%/yr vs 2.11%/yr for IS3M.DE. At a 0.03 correlation, their price movements are largely independent. VWCE.DE charges 0.19%/yr vs 0.09%/yr for IS3M.DE.
Performance
VWCE.DE vs. IS3M.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 IS3M.DE's 1.00% 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*
- —
IS3M.DE
- 1D
- 0.00%
- 1M
- 0.19%
- YTD
- 1.00%
- 6M
- 0.96%
- 1Y
- 2.16%
- 3Y*
- 3.30%
- 5Y*
- 2.11%
- 10Y*
- 1.03%
VWCE.DE vs. IS3M.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% |
IS3M.DE iShares € Ultrashort Bond UCITS ETF | 1.00% | 2.60% | 4.13% | 3.42% | -0.29% | -0.36% | 0.09% | -0.10% |
Correlation
The correlation between VWCE.DE and IS3M.DE is 0.06, 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 | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2019 | 0.03 |
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Return for Risk
VWCE.DE vs. IS3M.DE — Risk / Return Rank
VWCE.DE
IS3M.DE
VWCE.DE vs. IS3M.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 € Ultrashort Bond UCITS ETF (IS3M.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 | IS3M.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.59 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 4.14 | 7.25 | -3.12 |
| Martin ratioReturn relative to average drawdown | 16.98 | 45.99 | -29.02 |
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Drawdowns
VWCE.DE vs. IS3M.DE - Drawdown Comparison
The maximum VWCE.DE drawdown since its inception was -33.43%, which is greater than IS3M.DE's maximum drawdown of -3.80%. Use the drawdown chart below to compare losses from any high point for VWCE.DE and IS3M.DE.
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Drawdown Indicators
| VWCE.DE | IS3M.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.43% | -3.80% | -29.63% |
Max Drawdown (1Y)Largest decline over 1 year | -6.55% | -0.30% | -6.25% |
Max Drawdown (3Y)Largest decline over 3 years | -21.07% | -0.47% | -20.60% |
Max Drawdown (5Y)Largest decline over 5 years | -21.07% | -1.18% | -19.89% |
Max Drawdown (10Y)Largest decline over 10 years | — | -3.80% | — |
Current DrawdownCurrent decline from peak | -1.11% | 0.00% | -1.11% |
Average DrawdownAverage peak-to-trough decline | -4.66% | -0.28% | -4.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 0.05% | +1.55% |
Volatility
VWCE.DE vs. IS3M.DE - Volatility Comparison
Vanguard FTSE All-World UCITS ETF (VWCE.DE) has a higher volatility of 3.43% compared to iShares € Ultrashort Bond UCITS ETF (IS3M.DE) at 0.34%. This indicates that VWCE.DE's price experiences larger fluctuations and is considered to be riskier than IS3M.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 | IS3M.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.43% | 0.34% | +3.09% |
Volatility (6M)Calculated over the trailing 6-month period | 8.47% | 0.63% | +7.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.65% | 0.77% | +10.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.81% | 0.77% | +13.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.14% | 1.11% | +15.03% |
VWCE.DE vs. IS3M.DE - Expense Ratio Comparison
VWCE.DE has a 0.19% expense ratio, which is higher than IS3M.DE's 0.09% 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. IS3M.DE - Dividend Comparison
VWCE.DE has not paid dividends to shareholders, while IS3M.DE's dividend yield for the trailing twelve months is around 2.33%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IS3M.DE iShares € Ultrashort Bond UCITS ETF | 2.33% | 2.74% | 3.80% | 2.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.13% |
VWCE.DE Vanguard FTSE All-World UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VWCE.DE and IS3M.DE have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IS3M.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS3M.DE is cheaper with a 0.09% expense ratio, compared with 0.19% for VWCE.DE.
VWCE.DE is categorized as Global Equities, while IS3M.DE is Ultrashort Bond. VWCE.DE tracks FTSE All-World Index, while IS3M.DE tracks Markit iBoxx EUR Liquid Investment Grade Ultrashort Index (EUR). They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.19% for VWCE.DE and 0.09% for IS3M.DE.
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