VWRD.L vs. AYE2.DE
VWRD.L (Vanguard FTSE All-World UCITS ETF) and AYE2.DE (iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc) are both exchange-traded funds - VWRD.L is a Global Equities fund tracking the FTSE All-World Index, while AYE2.DE is a European High Yield Bonds fund tracking the Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond. Both are passively managed. Over the past 5 years, VWRD.L returned 10.91%/yr vs 1.40%/yr for AYE2.DE. A 0.52 correlation means they provide meaningful diversification when combined. VWRD.L charges 0.22%/yr vs 0.25%/yr for AYE2.DE.
Performance
VWRD.L vs. AYE2.DE - Performance Comparison
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Different Trading Currencies
VWRD.L is traded in USD, while AYE2.DE is traded in EUR. To make them comparable, the AYE2.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, VWRD.L achieves a 10.27% return, which is significantly higher than AYE2.DE's -0.70% return.
VWRD.L
- 1D
- 2.38%
- 1M
- 0.88%
- YTD
- 10.27%
- 6M
- 11.90%
- 1Y
- 25.73%
- 3Y*
- 19.78%
- 5Y*
- 10.91%
- 10Y*
- 12.94%
AYE2.DE
- 1D
- 0.58%
- 1M
- -0.58%
- YTD
- -0.70%
- 6M
- 0.05%
- 1Y
- 3.76%
- 3Y*
- 9.26%
- 5Y*
- 1.40%
- 10Y*
- —
VWRD.L vs. AYE2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VWRD.L Vanguard FTSE All-World UCITS ETF | 10.27% | 22.39% | 17.65% | 22.31% | -18.19% | 12.78% |
AYE2.DE iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc | -0.70% | 19.44% | 0.28% | 14.40% | -15.61% | -2.92% |
Correlation
The correlation between VWRD.L and AYE2.DE is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021 | 0.52 |
The correlation between VWRD.L and AYE2.DE shifts across timeframes, from 0.42 (3 years) to 0.52 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VWRD.L vs. AYE2.DE — Risk / Return Rank
VWRD.L
AYE2.DE
VWRD.L vs. AYE2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World UCITS ETF (VWRD.L) and iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.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.
| VWRD.L | AYE2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.58 | ||
| Sortino ratioReturn per unit of downside risk | +2.34 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.08 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.91 | 0.51 | +2.40 |
| Martin ratioReturn relative to average drawdown | 11.88 | 1.53 | +10.36 |
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Drawdowns
VWRD.L vs. AYE2.DE - Drawdown Comparison
The maximum VWRD.L drawdown since its inception was -33.83%, roughly equal to the maximum AYE2.DE drawdown of -32.89%. Use the drawdown chart below to compare losses from any high point for VWRD.L and AYE2.DE.
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Drawdown Indicators
| VWRD.L | AYE2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.83% | -32.89% | -0.94% |
Max Drawdown (1Y)Largest decline over 1 year | -8.80% | -7.33% | -1.47% |
Max Drawdown (3Y)Largest decline over 3 years | -16.25% | -7.67% | -8.58% |
Max Drawdown (5Y)Largest decline over 5 years | -26.02% | -32.67% | +6.65% |
Max Drawdown (10Y)Largest decline over 10 years | -33.83% | — | — |
Current DrawdownCurrent decline from peak | -1.99% | -3.44% | +1.45% |
Average DrawdownAverage peak-to-trough decline | -4.51% | -10.79% | +6.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 2.46% | -0.30% |
Volatility
VWRD.L vs. AYE2.DE - Volatility Comparison
Vanguard FTSE All-World UCITS ETF (VWRD.L) has a higher volatility of 4.40% compared to iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE) at 1.88%. This indicates that VWRD.L's price experiences larger fluctuations and is considered to be riskier than AYE2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWRD.L | AYE2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.40% | 1.88% | +2.52% |
Volatility (6M)Calculated over the trailing 6-month period | 10.29% | 6.66% | +3.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.77% | 8.83% | +3.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.38% | 10.72% | +4.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.73% | 10.60% | +5.13% |
VWRD.L vs. AYE2.DE - Expense Ratio Comparison
VWRD.L has a 0.22% expense ratio, which is lower than AYE2.DE's 0.25% 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
VWRD.L vs. AYE2.DE - Dividend Comparison
VWRD.L's dividend yield for the trailing twelve months is around 1.25%, while AYE2.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AYE2.DE iShares EUR High Yield Corporate Bond ESG 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% |
VWRD.L Vanguard FTSE All-World UCITS ETF | 1.25% | 1.38% | 1.52% | 1.69% | 2.05% | 1.48% | 1.47% | 1.88% | 2.29% | 1.82% | 2.04% | 2.07% |
Frequently Asked Questions
VWRD.L and AYE2.DE have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VWRD.L is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VWRD.L is cheaper with a 0.22% expense ratio, compared with 0.25% for AYE2.DE.
VWRD.L is categorized as Global Equities, while AYE2.DE is European High Yield Bonds. VWRD.L tracks FTSE All-World Index, while AYE2.DE tracks Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.22% for VWRD.L and 0.25% for AYE2.DE.
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