E0UA.DE vs. L8I3.DE
E0UA.DE (iShares Euro Government Bond 0-3 Month UCITS ETF EUR (Acc)) and L8I3.DE (Amundi EUR Overnight Return UCITS ETF (Acc)) are both Money Market funds - E0UA.DE tracks the ICE 0-3 Month Euro Government Bill Index while L8I3.DE tracks the Solactive EUR Overnight Return Index. Both are passively managed. Over the past year, E0UA.DE returned 1.96% vs 2.00% for L8I3.DE. At a 0.12 correlation, their price movements are largely independent. E0UA.DE charges 0.07%/yr vs 0.10%/yr for L8I3.DE.
Performance
E0UA.DE vs. L8I3.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with E0UA.DE having a 1.06% return and L8I3.DE slightly higher at 1.09%.
E0UA.DE
- 1D
- 0.00%
- 1M
- 0.16%
- 6M
- 1.01%
- YTD
- 1.06%
- 1Y
- 1.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
L8I3.DE
- 1D
- -0.01%
- 1M
- 0.18%
- 6M
- 0.97%
- YTD
- 1.09%
- 1Y
- 2.00%
- 3Y*
- 2.91%
- 5Y*
- 1.94%
- 10Y*
- 0.67%
E0UA.DE vs. L8I3.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
E0UA.DE iShares Euro Government Bond 0-3 Month UCITS ETF EUR (Acc) | 1.06% | 2.15% | 0.26% |
L8I3.DE Amundi EUR Overnight Return UCITS ETF (Acc) | 1.09% | 2.21% | 0.26% |
Correlation
The correlation between E0UA.DE and L8I3.DE is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Nov 29, 2024 | 0.12 |
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Return for Risk
E0UA.DE vs. L8I3.DE — Risk / Return Rank
E0UA.DE
L8I3.DE
E0UA.DE vs. L8I3.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Government Bond 0-3 Month UCITS ETF EUR (Acc) (E0UA.DE) and Amundi EUR Overnight Return UCITS ETF (Acc) (L8I3.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.
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.
| E0UA.DE | L8I3.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.04 | ||
| Sortino ratioReturn per unit of downside risk | -8.29 | ||
| Omega ratioGain probability vs. loss probability | 2.28 | 2.82 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | 8.94 | 45.18 | -36.25 |
| Martin ratioReturn relative to average drawdown | 28.78 | 176.49 | -147.71 |
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Drawdowns
E0UA.DE vs. L8I3.DE - Drawdown Comparison
The maximum E0UA.DE drawdown since its inception was -0.22%, smaller than the maximum L8I3.DE drawdown of -3.92%. Use the drawdown chart below to compare losses from any high point for E0UA.DE and L8I3.DE.
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Drawdown Indicators
| E0UA.DE | L8I3.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.22% | -3.92% | +3.70% |
Max Drawdown (1Y)Largest decline over 1 year | -0.22% | -0.04% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.07% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.75% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -3.57% | — |
Current DrawdownCurrent decline from peak | -0.03% | -0.01% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -0.03% | -0.89% | +0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.07% | 0.01% | +0.06% |
Volatility
E0UA.DE vs. L8I3.DE - Volatility Comparison
iShares Euro Government Bond 0-3 Month UCITS ETF EUR (Acc) (E0UA.DE) has a higher volatility of 0.09% compared to Amundi EUR Overnight Return UCITS ETF (Acc) (L8I3.DE) at 0.08%. This indicates that E0UA.DE's price experiences larger fluctuations and is considered to be riskier than L8I3.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| E0UA.DE | L8I3.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.09% | 0.08% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 0.41% | 0.21% | +0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.60% | 0.32% | +0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.53% | 0.26% | +0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.53% | 0.21% | +0.32% |
E0UA.DE vs. L8I3.DE - Expense Ratio Comparison
E0UA.DE has a 0.07% expense ratio, which is lower than L8I3.DE's 0.10% 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
E0UA.DE vs. L8I3.DE - Dividend Comparison
Neither E0UA.DE nor L8I3.DE has paid dividends to shareholders.
Frequently Asked Questions
E0UA.DE and L8I3.DE have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, E0UA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
E0UA.DE is cheaper with a 0.07% expense ratio, compared with 0.10% for L8I3.DE.
E0UA.DE tracks ICE 0-3 Month Euro Government Bill Index, while L8I3.DE tracks Solactive EUR Overnight Return Index. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.07% for E0UA.DE and 0.10% for L8I3.DE.
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