WPEA.PA vs. AI.PA

Last updated Jun 13, 2026

WPEA.PA (iShares MSCI World Swap PEA UCITS ETF) is Global Equities fund tracking the MSCI World NET TR EUR Index, while AI.PA (L'Air Liquide S.A.) is a stock. Over the past year, WPEA.PA returned 23.22% vs 12.93% for AI.PA. At a 0.36 correlation, their price movements are largely independent.

Performance

WPEA.PA vs. AI.PA - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares MSCI World Swap PEA UCITS ETF (WPEA.PA) and L'Air Liquide S.A. (AI.PA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WPEA.PA achieves a 10.13% return, which is significantly lower than AI.PA's 29.80% return.

WPEA.PA

• 1D: 1.66%
• 1M: 1.97%
• YTD: 10.13%
• 6M: 11.40%
• 1Y: 23.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AI.PA

• 1D: 1.99%
• 1M: 6.82%
• YTD: 29.80%
• 6M: 31.16%
• 1Y: 12.93%
• 3Y*: 18.17%
• 5Y*: 18.75%
• 10Y*: 20.91%

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

WPEA.PA vs. AI.PA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WPEA.PA iShares MSCI World Swap PEA UCITS ETF	10.13%	6.81%	14.60%
AI.PA L'Air Liquide S.A.	29.80%	4.16%	0.56%

Correlation

The correlation between WPEA.PA and AI.PA is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	0.36

Return for Risk

WPEA.PA vs. AI.PA — Risk / Return Rank

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

WPEA.PA

WPEA.PA Risk / Return Rank: 75
WPEA.PA Sharpe Ratio Rank: 73
WPEA.PA Sortino Ratio Rank: 74
WPEA.PA Omega Ratio Rank: 75
WPEA.PA Calmar Ratio Rank: 76
WPEA.PA Martin Ratio Rank: 80

AI.PA

AI.PA Risk / Return Rank: 60
AI.PA Sharpe Ratio Rank: 61
AI.PA Sortino Ratio Rank: 58
AI.PA Omega Ratio Rank: 59
AI.PA Calmar Ratio Rank: 60
AI.PA Martin Ratio Rank: 60

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.

WPEA.PA vs. AI.PA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World Swap PEA UCITS ETF (WPEA.PA) and L'Air Liquide S.A. (AI.PA). 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.

	WPEA.PA	AI.PA	Difference
Sharpe ratio: Return per unit of total volatility	2.04	0.53	+1.52
Sortino ratio: Return per unit of downside risk	2.87	1.07	+1.81
Omega ratio: Gain probability vs. loss probability	1.38	1.14	+0.24
Calmar ratio: Return relative to maximum drawdown	3.44	0.81	+2.64
Martin ratio: Return relative to average drawdown	13.62	1.63	+11.98

WPEA.PA vs. AI.PA - Sharpe Ratio Comparison

The current WPEA.PA Sharpe Ratio is 2.04, which is higher than the AI.PA Sharpe Ratio of 0.53. The chart below compares the historical Sharpe Ratios of WPEA.PA and AI.PA, 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

WPEA.PA vs. AI.PA - Drawdown Comparison

The maximum WPEA.PA drawdown since its inception was -21.57%, smaller than the maximum AI.PA drawdown of -36.39%. Use the drawdown chart below to compare losses from any high point for WPEA.PA and AI.PA.

Drawdown Indicators

	WPEA.PA	AI.PA	Difference
Max Drawdown Largest peak-to-trough decline	-21.57%	-36.39%	+14.82%
Max Drawdown (1Y) Largest decline over 1 year	-6.66%	-15.85%	+9.19%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.25%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.96%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-29.28%	—
Current Drawdown Current decline from peak	-1.17%	-0.07%	-1.10%
Average Drawdown Average peak-to-trough decline	-3.03%	-6.27%	+3.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	7.75%	-6.06%

Volatility

WPEA.PA vs. AI.PA - Volatility Comparison

The current volatility for iShares MSCI World Swap PEA UCITS ETF (WPEA.PA) is 3.20%, while L'Air Liquide S.A. (AI.PA) has a volatility of 13.87%. This indicates that WPEA.PA experiences smaller price fluctuations and is considered to be less risky than AI.PA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WPEA.PA	AI.PA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.20%	13.87%	-10.67%
Volatility (6M) Calculated over the trailing 6-month period	8.00%	21.64%	-13.64%
Volatility (1Y) Calculated over the trailing 1-year period	11.26%	24.20%	-12.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.63%	21.36%	-6.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.63%	21.22%	-6.59%

Dividends

WPEA.PA vs. AI.PA - Dividend Comparison

WPEA.PA has not paid dividends to shareholders, while AI.PA's dividend yield for the trailing twelve months is around 2.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AI.PA L'Air Liquide S.A.	2.00%	2.27%	2.04%	2.03%	2.41%	2.39%	2.68%	2.54%	3.58%	3.29%	3.86%	4.09%
WPEA.PA iShares MSCI World Swap PEA 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

Can I hold both WPEA.PA and AI.PA in my portfolio?

WPEA.PA and AI.PA have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.