DBZB.DE vs. EUNL.DE
DBZB.DE (Xtrackers II Global Government Bond UCITS ETF EUR Hedged) and EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - DBZB.DE is a Global Bonds fund tracking the FTSE World Government Bond - Developed Markets (EUR Hedged), while EUNL.DE is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 10 years, DBZB.DE returned -0.99%/yr vs 12.82%/yr for EUNL.DE. At a correlation of -0.13, they often move in opposite directions. DBZB.DE charges 0.25%/yr vs 0.20%/yr for EUNL.DE.
Performance
DBZB.DE vs. EUNL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DBZB.DE achieves a -0.71% return, which is significantly lower than EUNL.DE's 10.86% return. Over the past 10 years, DBZB.DE has underperformed EUNL.DE with an annualized return of -0.99%, while EUNL.DE has yielded a comparatively higher 12.82% annualized return.
DBZB.DE
- 1D
- 0.15%
- 1M
- -0.18%
- YTD
- -0.71%
- 6M
- -0.56%
- 1Y
- 0.09%
- 3Y*
- 0.76%
- 5Y*
- -2.54%
- 10Y*
- -0.99%
EUNL.DE
- 1D
- 0.02%
- 1M
- 3.65%
- YTD
- 10.86%
- 6M
- 10.91%
- 1Y
- 23.29%
- 3Y*
- 17.55%
- 5Y*
- 12.89%
- 10Y*
- 12.82%
DBZB.DE vs. EUNL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBZB.DE Xtrackers II Global Government Bond UCITS ETF EUR Hedged | -0.71% | 1.28% | -0.41% | 3.56% | -15.11% | -3.19% | 4.16% | 4.55% | -0.36% | -0.12% |
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 10.86% | 7.90% | 25.93% | 20.13% | -13.59% | 32.71% | 5.48% | 31.34% | -5.13% | 7.71% |
Correlation
The correlation between DBZB.DE and EUNL.DE is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Oct 21, 2009 | -0.13 |
The correlation between DBZB.DE and EUNL.DE shifts across timeframes, from -0.13 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DBZB.DE vs. EUNL.DE — Risk / Return Rank
DBZB.DE
EUNL.DE
DBZB.DE vs. EUNL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.DE) and iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.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.
| DBZB.DE | EUNL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.14 | ||
| Sortino ratioReturn per unit of downside risk | -2.97 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.40 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 3.64 | -3.66 |
| Martin ratioReturn relative to average drawdown | -0.04 | 14.52 | -14.56 |
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
| DBZB.DE | EUNL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.01 | 2.12 | -2.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.47 | 0.90 | -1.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.21 | 0.84 | -1.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.82 | -0.60 |
Drawdowns
DBZB.DE vs. EUNL.DE - Drawdown Comparison
The maximum DBZB.DE drawdown since its inception was -21.88%, smaller than the maximum EUNL.DE drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for DBZB.DE and EUNL.DE.
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Drawdown Indicators
| DBZB.DE | EUNL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.88% | -33.63% | +11.75% |
Max Drawdown (1Y)Largest decline over 1 year | -3.52% | -6.50% | +2.98% |
Max Drawdown (3Y)Largest decline over 3 years | -5.14% | -21.73% | +16.59% |
Max Drawdown (5Y)Largest decline over 5 years | -19.51% | -21.73% | +2.22% |
Max Drawdown (10Y)Largest decline over 10 years | -21.88% | -33.63% | +11.75% |
Current DrawdownCurrent decline from peak | -16.44% | -0.31% | -16.13% |
Average DrawdownAverage peak-to-trough decline | -5.97% | -4.25% | -1.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 1.64% | -0.38% |
Volatility
DBZB.DE vs. EUNL.DE - Volatility Comparison
The current volatility for Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.DE) is 1.48%, while iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) has a volatility of 2.62%. This indicates that DBZB.DE experiences smaller price fluctuations and is considered to be less risky than EUNL.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBZB.DE | EUNL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 2.62% | -1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 3.06% | 7.72% | -4.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.86% | 11.16% | -7.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.37% | 14.17% | -8.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.74% | 15.17% | -10.43% |
DBZB.DE vs. EUNL.DE - Expense Ratio Comparison
DBZB.DE has a 0.25% expense ratio, which is higher than EUNL.DE's 0.20% 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
DBZB.DE vs. EUNL.DE - Dividend Comparison
Neither DBZB.DE nor EUNL.DE has paid dividends to shareholders.
Frequently Asked Questions
DBZB.DE and EUNL.DE have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNL.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNL.DE is cheaper with a 0.20% expense ratio, compared with 0.25% for DBZB.DE.
DBZB.DE is categorized as Global Bonds, while EUNL.DE is Global Equities. DBZB.DE tracks FTSE World Government Bond - Developed Markets (EUR Hedged), while EUNL.DE tracks MSCI World Index. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.25% for DBZB.DE and 0.20% for EUNL.DE.
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