EMNE.DE vs. HIGH.L
EMNE.DE (iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist)) and HIGH.L (iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc)) are both exchange-traded funds - EMNE.DE is a Europe Equities fund tracking the MSCI EMU ESG Enhanced Focus CTB Index, while HIGH.L is a European High Yield Bonds fund tracking the Bloomberg Pan Euro HY Euro TR EUR. Both are passively managed. Over the past 5 years, EMNE.DE returned 10.42%/yr vs 2.73%/yr for HIGH.L. A 0.57 correlation means they provide meaningful diversification when combined. EMNE.DE charges 0.12%/yr vs 0.50%/yr for HIGH.L.
Performance
EMNE.DE vs. HIGH.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMNE.DE achieves a 9.92% return, which is significantly higher than HIGH.L's 1.29% return.
EMNE.DE
- 1D
- 0.22%
- 1M
- -2.09%
- 6M
- 8.22%
- YTD
- 9.92%
- 1Y
- 18.82%
- 3Y*
- 14.84%
- 5Y*
- 10.42%
- 10Y*
- —
- ALL TIME*
- 11.44%
HIGH.L
- 1D
- 0.00%
- 1M
- -0.00%
- 6M
- 1.45%
- YTD
- 1.29%
- 1Y
- 3.11%
- 3Y*
- 6.20%
- 5Y*
- 2.73%
- 10Y*
- —
- ALL TIME*
- 2.65%
EMNE.DE vs. HIGH.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMNE.DE iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) | 9.92% | 22.18% | 9.86% | 18.79% | -12.35% | 22.75% | 1.44% | 16.09% |
HIGH.L iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc) | 1.29% | 4.89% | 5.70% | 11.59% | -9.32% | 2.82% | 1.10% | 5.47% |
Correlation
The correlation between EMNE.DE and HIGH.L is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019 | 0.57 |
The correlation between EMNE.DE and HIGH.L has been stable across timeframes, ranging from 0.57 to 0.65 - a consistent structural relationship.
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Return for Risk
EMNE.DE vs. HIGH.L — Risk / Return Rank
EMNE.DE
HIGH.L
EMNE.DE vs. HIGH.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) (EMNE.DE) and iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc) (HIGH.L). 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.
| EMNE.DE | HIGH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.17 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 1.08 | +0.64 |
| Martin ratioReturn relative to average drawdown | 6.34 | 4.35 | +1.99 |
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Drawdowns
EMNE.DE vs. HIGH.L - Drawdown Comparison
The maximum EMNE.DE drawdown since its inception was -34.37%, which is greater than HIGH.L's maximum drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for EMNE.DE and HIGH.L.
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Drawdown Indicators
| EMNE.DE | HIGH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.37% | -25.42% | -8.95% |
Max Drawdown (1Y)Largest decline over 1 year | -10.90% | -2.88% | -8.02% |
Max Drawdown (3Y)Largest decline over 3 years | -15.10% | -3.65% | -11.45% |
Max Drawdown (5Y)Largest decline over 5 years | -24.70% | -14.64% | -10.06% |
Current DrawdownCurrent decline from peak | -2.73% | -0.47% | -2.26% |
Average DrawdownAverage peak-to-trough decline | -5.19% | -2.68% | -2.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 0.71% | +2.25% |
Volatility
EMNE.DE vs. HIGH.L - Volatility Comparison
iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) (EMNE.DE) has a higher volatility of 3.80% compared to iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc) (HIGH.L) at 0.73%. This indicates that EMNE.DE's price experiences larger fluctuations and is considered to be riskier than HIGH.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMNE.DE | HIGH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.80% | 0.73% | +3.07% |
Volatility (6M)Calculated over the trailing 6-month period | 12.63% | 3.12% | +9.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.93% | 3.67% | +11.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.24% | 5.47% | +10.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.98% | 7.16% | +12.82% |
EMNE.DE vs. HIGH.L - Expense Ratio Comparison
EMNE.DE has a 0.12% expense ratio, which is lower than HIGH.L's 0.50% expense ratio.
Dividends
EMNE.DE vs. HIGH.L - Dividend Comparison
EMNE.DE's dividend yield for the trailing twelve months is around 2.39%, while HIGH.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
EMNE.DE iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) | 2.39% | 2.61% | 2.95% | 3.17% | 3.34% | 2.40% | 1.85% | 2.67% |
HIGH.L iShares EUR High Yield Corporate Bond UCITS ETF EUR (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMNE.DE and HIGH.L have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMNE.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMNE.DE is cheaper with a 0.12% expense ratio, compared with 0.50% for HIGH.L.
EMNE.DE is categorized as Europe Equities, while HIGH.L is European High Yield Bonds. EMNE.DE tracks MSCI EMU ESG Enhanced Focus CTB Index, while HIGH.L tracks Bloomberg Pan Euro HY Euro TR EUR. Their fees differ too: 0.12% for EMNE.DE and 0.50% for HIGH.L.
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