VWRL.AS vs. IAEX.AS

Last updated Jul 16, 2026

VWRL.AS (Vanguard FTSE All-World UCITS ETF (USD) Distributing) and IAEX.AS (iShares AEX UCITS ETF) are both exchange-traded funds - VWRL.AS is a Global Equities fund tracking the FTSE All-World Index, while IAEX.AS is a Europe Equities fund tracking the Euronext AEX All Share TR EUR. Both are passively managed. Over the past 10 years, VWRL.AS returned 12.06%/yr vs 11.90%/yr for IAEX.AS. Their correlation of 0.81 suggests significant overlap in exposure. VWRL.AS charges 0.19%/yr vs 0.30%/yr for IAEX.AS.

Performance

VWRL.AS vs. IAEX.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Vanguard FTSE All-World UCITS ETF (USD) Distributing (VWRL.AS) and iShares AEX UCITS ETF (IAEX.AS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VWRL.AS achieves a 14.24% return, which is significantly lower than IAEX.AS's 17.00% return. Both investments have delivered pretty close results over the past 10 years, with VWRL.AS having a 12.06% annualized return and IAEX.AS not far behind at 11.90%.

VWRL.AS

• 1D: 0.11%
• 1M: 0.76%
• 6M: 11.64%
• YTD: 14.24%
• 1Y: 25.39%
• 3Y*: 18.26%
• 5Y*: 11.72%
• 10Y*: 12.06%

IAEX.AS

• 1D: 0.70%
• 1M: 1.98%
• 6M: 11.49%
• YTD: 17.00%
• 1Y: 21.40%
• 3Y*: 14.56%
• 5Y*: 10.65%
• 10Y*: 11.90%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VWRL.AS vs. IAEX.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VWRL.AS Vanguard FTSE All-World UCITS ETF (USD) Distributing	14.24%	8.40%	25.57%	18.07%	-13.65%	28.52%	6.31%	27.76%	-4.68%	8.95%
IAEX.AS iShares AEX UCITS ETF	17.00%	10.50%	14.17%	16.75%	-12.11%	30.21%	5.01%	27.67%	-8.03%	15.97%

Correlation

The correlation between VWRL.AS and IAEX.AS is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since May 22, 2012	0.81

The correlation between VWRL.AS and IAEX.AS shifts across timeframes, from 0.70 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VWRL.AS vs. IAEX.AS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VWRL.AS

VWRL.AS Risk / Return Rank: 86
VWRL.AS Sharpe Ratio Rank: 85
VWRL.AS Sortino Ratio Rank: 85
VWRL.AS Omega Ratio Rank: 85
VWRL.AS Calmar Ratio Rank: 86
VWRL.AS Martin Ratio Rank: 89

IAEX.AS

IAEX.AS Risk / Return Rank: 61
IAEX.AS Sharpe Ratio Rank: 57
IAEX.AS Sortino Ratio Rank: 56
IAEX.AS Omega Ratio Rank: 54
IAEX.AS Calmar Ratio Rank: 76
IAEX.AS Martin Ratio Rank: 65

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VWRL.AS vs. IAEX.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World UCITS ETF (USD) Distributing (VWRL.AS) and iShares AEX UCITS ETF (IAEX.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.

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.

	VWRL.AS	IAEX.AS	Difference
Sharpe ratio: Return per unit of total volatility	2.16	1.57	+0.59
Sortino ratio: Return per unit of downside risk	3.04	2.21	+0.83
Omega ratio: Gain probability vs. loss probability	1.40	1.28	+0.13
Calmar ratio: Return relative to maximum drawdown	3.84	3.12	+0.72
Martin ratio: Return relative to average drawdown	15.43	9.33	+6.10

VWRL.AS vs. IAEX.AS - Sharpe Ratio Comparison

The current VWRL.AS Sharpe Ratio is 2.16, which is higher than the IAEX.AS Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of VWRL.AS and IAEX.AS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VWRL.AS vs. IAEX.AS - Drawdown Comparison

The maximum VWRL.AS drawdown since its inception was -33.27%, smaller than the maximum IAEX.AS drawdown of -62.99%. Use the drawdown chart below to compare losses from any high point for VWRL.AS and IAEX.AS.

Drawdown Indicators

	VWRL.AS	IAEX.AS	Difference
Max Drawdown Largest peak-to-trough decline	-33.27%	-62.99%	+29.72%
Max Drawdown (1Y) Largest decline over 1 year	-6.53%	-6.78%	+0.25%
Max Drawdown (3Y) Largest decline over 3 years	-21.00%	-15.83%	-5.17%
Max Drawdown (5Y) Largest decline over 5 years	-21.00%	-22.39%	+1.39%
Max Drawdown (10Y) Largest decline over 10 years	-33.27%	-35.34%	+2.07%
Current Drawdown Current decline from peak	-0.51%	0.00%	-0.51%
Average Drawdown Average peak-to-trough decline	-6.21%	-14.38%	+8.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	2.27%	-0.64%

Volatility

VWRL.AS vs. IAEX.AS - Volatility Comparison

The current volatility for Vanguard FTSE All-World UCITS ETF (USD) Distributing (VWRL.AS) is 2.96%, while iShares AEX UCITS ETF (IAEX.AS) has a volatility of 3.26%. This indicates that VWRL.AS experiences smaller price fluctuations and is considered to be less risky than IAEX.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWRL.AS	IAEX.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.96%	3.26%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	8.61%	10.19%	-1.58%
Volatility (1Y) Calculated over the trailing 1-year period	11.61%	13.47%	-1.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.78%	15.47%	-1.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.78%	15.96%	-1.18%

VWRL.AS vs. IAEX.AS - Expense Ratio Comparison

VWRL.AS has a 0.19% expense ratio, which is lower than IAEX.AS's 0.30% expense ratio.

Dividends

VWRL.AS vs. IAEX.AS - Dividend Comparison

VWRL.AS's dividend yield for the trailing twelve months is around 1.25%, less than IAEX.AS's 1.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IAEX.AS iShares AEX UCITS ETF	1.91%	2.07%	2.13%	2.12%	2.28%	1.54%	1.41%	2.79%	3.15%	2.74%	2.86%	2.90%
VWRL.AS Vanguard FTSE All-World UCITS ETF (USD) Distributing	1.25%	1.42%	1.47%	1.74%	2.10%	1.43%	1.56%	1.89%	2.24%	1.93%	1.95%	2.02%

Frequently Asked Questions

Can I hold both VWRL.AS and IAEX.AS in my portfolio?

VWRL.AS and IAEX.AS have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VWRL.AS or IAEX.AS?

On fees, VWRL.AS is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VWRL.AS or IAEX.AS?

VWRL.AS is cheaper with a 0.19% expense ratio, compared with 0.30% for IAEX.AS.

What is the main difference between VWRL.AS and IAEX.AS?

VWRL.AS is categorized as Global Equities, while IAEX.AS is Europe Equities. VWRL.AS tracks FTSE All-World Index, while IAEX.AS tracks Euronext AEX All Share TR EUR. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.19% for VWRL.AS and 0.30% for IAEX.AS.