36BD.DE vs. MDBU.DE
36BD.DE (iShares USD Development Bank Bonds UCITS ETF USD Acc) and MDBU.DE (UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis) are both Government Bonds funds - 36BD.DE tracks the FTSE World Broad Investment-Grade USD Multilateral Development Bank Bond Capped while MDBU.DE tracks the Solactive Global Multilateral Development Bank Bond USD 25% Issuer Capped Index. Both are passively managed. Over the past 5 years, 36BD.DE returned 1.94%/yr vs 1.69%/yr for MDBU.DE. With a 0.96 correlation, they move nearly in lockstep. 36BD.DE charges 0.15%/yr vs 0.18%/yr for MDBU.DE.
Performance
36BD.DE vs. MDBU.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 36BD.DE achieves a 1.33% return, which is significantly higher than MDBU.DE's 1.02% return.
36BD.DE
- 1D
- 0.05%
- 1M
- 0.81%
- YTD
- 1.33%
- 6M
- 0.62%
- 1Y
- 2.03%
- 3Y*
- 1.18%
- 5Y*
- 1.94%
- 10Y*
- —
MDBU.DE
- 1D
- 0.09%
- 1M
- 0.95%
- YTD
- 1.02%
- 6M
- 0.32%
- 1Y
- 1.43%
- 3Y*
- 0.83%
- 5Y*
- 1.69%
- 10Y*
- —
36BD.DE vs. MDBU.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
36BD.DE iShares USD Development Bank Bonds UCITS ETF USD Acc | 1.33% | -5.15% | 8.61% | 0.84% | -1.81% | 3.54% |
MDBU.DE UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis | 1.02% | -5.52% | 8.42% | 0.69% | -1.90% | 3.46% |
Correlation
The correlation between 36BD.DE and MDBU.DE is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021 | 0.96 |
The correlation between 36BD.DE and MDBU.DE has been stable across timeframes, ranging from 0.96 to 0.96 - a consistent structural relationship.
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Return for Risk
36BD.DE vs. MDBU.DE — Risk / Return Rank
36BD.DE
MDBU.DE
36BD.DE vs. MDBU.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Development Bank Bonds UCITS ETF USD Acc (36BD.DE) and UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis (MDBU.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.
| 36BD.DE | MDBU.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.04 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.47 | 0.30 | +0.17 |
| Martin ratioReturn relative to average drawdown | 1.13 | 0.72 | +0.41 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| 36BD.DE | MDBU.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.32 | 0.21 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.23 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.22 | -0.04 |
Drawdowns
36BD.DE vs. MDBU.DE - Drawdown Comparison
The maximum 36BD.DE drawdown since its inception was -11.97%, roughly equal to the maximum MDBU.DE drawdown of -12.38%. Use the drawdown chart below to compare losses from any high point for 36BD.DE and MDBU.DE.
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Drawdown Indicators
| 36BD.DE | MDBU.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.97% | -12.38% | +0.41% |
Max Drawdown (1Y)Largest decline over 1 year | -3.71% | -3.81% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -10.13% | -10.06% | -0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -11.97% | -12.09% | +0.12% |
Current DrawdownCurrent decline from peak | -6.13% | -6.60% | +0.47% |
Average DrawdownAverage peak-to-trough decline | -4.97% | -5.71% | +0.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.55% | 1.57% | -0.02% |
Volatility
36BD.DE vs. MDBU.DE - Volatility Comparison
The current volatility for iShares USD Development Bank Bonds UCITS ETF USD Acc (36BD.DE) is 0.74%, while UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis (MDBU.DE) has a volatility of 0.90%. This indicates that 36BD.DE experiences smaller price fluctuations and is considered to be less risky than MDBU.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 36BD.DE | MDBU.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | 0.90% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 3.65% | 3.83% | -0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.39% | 5.40% | -0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.21% | 7.21% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.16% | 6.88% | +0.28% |
36BD.DE vs. MDBU.DE - Expense Ratio Comparison
36BD.DE has a 0.15% expense ratio, which is lower than MDBU.DE's 0.18% 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
36BD.DE vs. MDBU.DE - Dividend Comparison
36BD.DE has not paid dividends to shareholders, while MDBU.DE's dividend yield for the trailing twelve months is around 2.66%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
36BD.DE iShares USD Development Bank Bonds UCITS ETF USD Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MDBU.DE UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis | 2.66% | 3.79% | 1.92% | 1.75% | 0.75% | 0.59% | 1.58% | 1.40% |
Frequently Asked Questions
With a correlation of 0.96, 36BD.DE and MDBU.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, 36BD.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
36BD.DE is cheaper with a 0.15% expense ratio, compared with 0.18% for MDBU.DE.
36BD.DE tracks FTSE World Broad Investment-Grade USD Multilateral Development Bank Bond Capped, while MDBU.DE tracks Solactive Global Multilateral Development Bank Bond USD 25% Issuer Capped Index. They also come from different issuers: iShares and UBS. Their fees differ too: 0.15% for 36BD.DE and 0.18% for MDBU.DE.
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