EMND.DE vs. EUNL.DE
EMND.DE (iShares MSCI World ESG Enhanced UCITS ETF USD (Dist)) and EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) are both Global Equities funds from iShares - EMND.DE tracks the MSCI World ESG Enhanced Focus while EUNL.DE tracks the MSCI World Index. Both are passively managed. Over the past 5 years, EMND.DE returned 11.70%/yr vs 12.89%/yr for EUNL.DE. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.20% expense ratio.
Performance
EMND.DE vs. EUNL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EMND.DE achieves a 10.17% return, which is significantly lower than EUNL.DE's 10.86% return.
EMND.DE
- 1D
- 0.02%
- 1M
- 3.68%
- YTD
- 10.17%
- 6M
- 10.17%
- 1Y
- 21.70%
- 3Y*
- 16.08%
- 5Y*
- 11.70%
- 10Y*
- —
EUNL.DE
- 1D
- 0.02%
- 1M
- 4.80%
- YTD
- 10.86%
- 6M
- 11.29%
- 1Y
- 23.80%
- 3Y*
- 17.55%
- 5Y*
- 12.89%
- 10Y*
- 12.82%
EMND.DE vs. EUNL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMND.DE iShares MSCI World ESG Enhanced UCITS ETF USD (Dist) | 10.17% | 6.20% | 25.02% | 18.82% | -15.24% | 33.96% | 7.28% | 12.63% |
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 10.86% | 7.90% | 25.93% | 20.13% | -13.59% | 32.71% | 5.48% | 11.94% |
Correlation
The correlation between EMND.DE and EUNL.DE is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since May 8, 2019 | 0.99 |
The correlation between EMND.DE and EUNL.DE has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
EMND.DE vs. EUNL.DE — Risk / Return Rank
EMND.DE
EUNL.DE
EMND.DE vs. EUNL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World ESG Enhanced UCITS ETF USD (Dist) (EMND.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.
| EMND.DE | EUNL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.40 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.07 | 3.64 | -0.57 |
| Martin ratioReturn relative to average drawdown | 12.00 | 14.52 | -2.52 |
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
| EMND.DE | EUNL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.91 | 2.12 | -0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | 0.90 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.84 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.82 | -0.02 |
Drawdowns
EMND.DE vs. EUNL.DE - Drawdown Comparison
The maximum EMND.DE drawdown since its inception was -33.15%, roughly equal to the maximum EUNL.DE drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for EMND.DE and EUNL.DE.
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Drawdown Indicators
| EMND.DE | EUNL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.15% | -33.63% | +0.48% |
Max Drawdown (1Y)Largest decline over 1 year | -7.07% | -6.50% | -0.57% |
Max Drawdown (3Y)Largest decline over 3 years | -21.24% | -21.73% | +0.49% |
Max Drawdown (5Y)Largest decline over 5 years | -21.24% | -21.73% | +0.49% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.63% | — |
Current DrawdownCurrent decline from peak | -0.33% | -0.31% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -5.04% | -4.25% | -0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 1.64% | +0.17% |
Volatility
EMND.DE vs. EUNL.DE - Volatility Comparison
iShares MSCI World ESG Enhanced UCITS ETF USD (Dist) (EMND.DE) and iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) have volatilities of 2.65% and 2.62%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMND.DE | EUNL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.65% | 2.62% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 7.76% | 7.72% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.37% | 11.16% | +0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.24% | 14.17% | +0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.30% | 15.17% | +1.13% |
EMND.DE vs. EUNL.DE - Expense Ratio Comparison
Both EMND.DE and EUNL.DE have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
EMND.DE vs. EUNL.DE - Dividend Comparison
EMND.DE's dividend yield for the trailing twelve months is around 0.93%, while EUNL.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
EMND.DE iShares MSCI World ESG Enhanced UCITS ETF USD (Dist) | 0.93% | 1.03% | 1.28% | 1.47% | 2.54% | 1.70% | 1.83% | 1.30% |
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.99, EMND.DE and EUNL.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.
Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
EMND.DE and EUNL.DE have the same expense ratio: 0.20% per year.
EMND.DE tracks MSCI World ESG Enhanced Focus, while EUNL.DE tracks MSCI World Index.
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