AYE2.DE vs. EUNA.DE
AYE2.DE (iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc) and EUNA.DE (iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc) are both exchange-traded funds - AYE2.DE is a European High Yield Bonds fund tracking the Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond, while EUNA.DE is a Global Bonds fund tracking the Bloomberg Global Aggregate Bond (EUR Hedged). Both are passively managed. Over the past 5 years, AYE2.DE returned 2.45%/yr vs -1.29%/yr for EUNA.DE. At a 0.33 correlation, their price movements are largely independent. AYE2.DE charges 0.25%/yr vs 0.10%/yr for EUNA.DE.
Performance
AYE2.DE vs. EUNA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, AYE2.DE achieves a 0.71% return, which is significantly higher than EUNA.DE's -0.46% return.
AYE2.DE
- 1D
- -0.10%
- 1M
- 0.88%
- YTD
- 0.71%
- 6M
- 1.00%
- 1Y
- 3.78%
- 3Y*
- 6.88%
- 5Y*
- 2.45%
- 10Y*
- —
EUNA.DE
- 1D
- 0.22%
- 1M
- 0.18%
- YTD
- -0.46%
- 6M
- -0.29%
- 1Y
- 1.18%
- 3Y*
- 2.28%
- 5Y*
- -1.29%
- 10Y*
- —
AYE2.DE vs. EUNA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AYE2.DE iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc | 0.71% | 5.88% | 6.36% | 10.77% | -10.72% | 0.80% |
EUNA.DE iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc | -0.46% | 2.79% | 1.60% | 4.36% | -13.52% | 0.14% |
Correlation
The correlation between AYE2.DE and EUNA.DE is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021 | 0.33 |
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Return for Risk
AYE2.DE vs. EUNA.DE — Risk / Return Rank
AYE2.DE
EUNA.DE
AYE2.DE vs. EUNA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE) and iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (EUNA.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.
| AYE2.DE | EUNA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.06 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 0.43 | +0.79 |
| Martin ratioReturn relative to average drawdown | 5.15 | 1.18 | +3.97 |
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
| AYE2.DE | EUNA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 0.34 | +0.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | -0.28 | +0.73 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | -0.05 | +0.50 |
Drawdowns
AYE2.DE vs. EUNA.DE - Drawdown Comparison
The maximum AYE2.DE drawdown since its inception was -16.48%, smaller than the maximum EUNA.DE drawdown of -17.79%. Use the drawdown chart below to compare losses from any high point for AYE2.DE and EUNA.DE.
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Drawdown Indicators
| AYE2.DE | EUNA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.48% | -17.79% | +1.31% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -2.75% | -0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -3.69% | -4.02% | +0.33% |
Max Drawdown (5Y)Largest decline over 5 years | -16.48% | -17.03% | +0.55% |
Current DrawdownCurrent decline from peak | -0.33% | -8.66% | +8.33% |
Average DrawdownAverage peak-to-trough decline | -3.96% | -6.76% | +2.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.99% | -0.26% |
Volatility
AYE2.DE vs. EUNA.DE - Volatility Comparison
The current volatility for iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE) is 0.98%, while iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (EUNA.DE) has a volatility of 1.35%. This indicates that AYE2.DE experiences smaller price fluctuations and is considered to be less risky than EUNA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AYE2.DE | EUNA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 1.35% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 3.09% | 2.82% | +0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.58% | 3.46% | +0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 4.64% | +0.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 4.27% | +0.99% |
AYE2.DE vs. EUNA.DE - Expense Ratio Comparison
AYE2.DE has a 0.25% expense ratio, which is higher than EUNA.DE's 0.10% 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
AYE2.DE vs. EUNA.DE - Dividend Comparison
Neither AYE2.DE nor EUNA.DE has paid dividends to shareholders.
Frequently Asked Questions
AYE2.DE and EUNA.DE have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNA.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNA.DE is cheaper with a 0.10% expense ratio, compared with 0.25% for AYE2.DE.
AYE2.DE is categorized as European High Yield Bonds, while EUNA.DE is Global Bonds. AYE2.DE tracks Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond, while EUNA.DE tracks Bloomberg Global Aggregate Bond (EUR Hedged). Their fees differ too: 0.25% for AYE2.DE and 0.10% for EUNA.DE.
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