EMBE.L vs. EUNW.DE
EMBE.L (iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist)) and EUNW.DE (iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist)) are both exchange-traded funds - EMBE.L is a Emerging Markets Bonds fund tracking the JPM EMBI Global Diversified Hedge TR EUR, while EUNW.DE is a European High Yield Bonds fund tracking the iBoxx® EUR Liquid High Yield. Both are passively managed. Over the past 10 years, EMBE.L returned 1.09%/yr vs 3.24%/yr for EUNW.DE. A 0.53 correlation means they provide meaningful diversification when combined. Both charge a 0.50% expense ratio.
Performance
EMBE.L vs. EUNW.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EMBE.L achieves a 1.23% return, which is significantly higher than EUNW.DE's 1.08% return. Over the past 10 years, EMBE.L has underperformed EUNW.DE with an annualized return of 1.09%, while EUNW.DE has yielded a comparatively higher 3.24% annualized return.
EMBE.L
- 1D
- 0.81%
- 1M
- 1.12%
- YTD
- 1.23%
- 6M
- 1.69%
- 1Y
- 8.49%
- 3Y*
- 7.36%
- 5Y*
- -0.43%
- 10Y*
- 1.09%
EUNW.DE
- 1D
- 0.34%
- 1M
- 0.71%
- YTD
- 1.08%
- 6M
- 1.74%
- 1Y
- 3.40%
- 3Y*
- 6.20%
- 5Y*
- 2.64%
- 10Y*
- 3.24%
EMBE.L vs. EUNW.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMBE.L iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) | 1.23% | 10.99% | 4.00% | 7.66% | -20.86% | -3.27% | 3.35% | 12.27% | -8.40% | 8.13% |
EUNW.DE iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) | 1.08% | 4.99% | 5.90% | 11.26% | -9.37% | 2.92% | 1.07% | 9.86% | -3.52% | 4.59% |
Correlation
The correlation between EMBE.L and EUNW.DE is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jul 8, 2013 | 0.53 |
The correlation between EMBE.L and EUNW.DE shifts across timeframes, from 0.53 (all time) to 0.66 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EMBE.L vs. EUNW.DE — Risk / Return Rank
EMBE.L
EUNW.DE
EMBE.L vs. EUNW.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) (EMBE.L) and iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (EUNW.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.
| EMBE.L | EUNW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.19 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 1.18 | +0.66 |
| Martin ratioReturn relative to average drawdown | 7.04 | 4.94 | +2.10 |
Loading charts...
Drawdowns
EMBE.L vs. EUNW.DE - Drawdown Comparison
The maximum EMBE.L drawdown since its inception was -30.73%, which is greater than EUNW.DE's maximum drawdown of -25.47%. Use the drawdown chart below to compare losses from any high point for EMBE.L and EUNW.DE.
Loading charts...
Drawdown Indicators
| EMBE.L | EUNW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.73% | -25.47% | -5.26% |
Max Drawdown (1Y)Largest decline over 1 year | -4.58% | -2.86% | -1.72% |
Max Drawdown (3Y)Largest decline over 3 years | -7.94% | -3.80% | -4.14% |
Max Drawdown (5Y)Largest decline over 5 years | -30.46% | -14.79% | -15.67% |
Max Drawdown (10Y)Largest decline over 10 years | -30.73% | -25.47% | -5.26% |
Current DrawdownCurrent decline from peak | -3.70% | 0.00% | -3.70% |
Average DrawdownAverage peak-to-trough decline | -7.38% | -2.06% | -5.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 0.69% | +0.51% |
Volatility
EMBE.L vs. EUNW.DE - Volatility Comparison
iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) (EMBE.L) has a higher volatility of 2.14% compared to iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (EUNW.DE) at 0.82%. This indicates that EMBE.L's price experiences larger fluctuations and is considered to be riskier than EUNW.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EMBE.L | EUNW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.14% | 0.82% | +1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 4.88% | 2.96% | +1.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.91% | 3.40% | +2.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.90% | 5.27% | +3.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.48% | 6.57% | +2.91% |
EMBE.L vs. EUNW.DE - Expense Ratio Comparison
Both EMBE.L and EUNW.DE have an expense ratio of 0.50%.
Dividends
EMBE.L vs. EUNW.DE - Dividend Comparison
EMBE.L's dividend yield for the trailing twelve months is around 5.13%, which matches EUNW.DE's 5.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMBE.L iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) | 5.13% | 5.44% | 5.64% | 5.50% | 5.39% | 3.92% | 3.85% | 4.77% | 5.75% | 3.88% | 5.36% | 4.72% |
EUNW.DE iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) | 5.16% | 5.45% | 6.09% | 5.41% | 3.70% | 3.07% | 3.67% | 3.75% | 3.68% | 3.78% | 4.03% | 4.59% |
Frequently Asked Questions
EMBE.L and EUNW.DE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
EMBE.L and EUNW.DE have the same expense ratio: 0.50% per year.
EMBE.L is categorized as Emerging Markets Bonds, while EUNW.DE is European High Yield Bonds. EMBE.L tracks JPM EMBI Global Diversified Hedge TR EUR, while EUNW.DE tracks iBoxx® EUR Liquid High Yield.
Find the right allocation for EMBE.L and EUNW.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer