EMNU.DE vs. ED3F.DE
EMNU.DE (iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist)) and ED3F.DE (Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating) are both exchange-traded funds - EMNU.DE is a Europe Equities fund tracking the MSCI Europe ESG Enhanced Focus, while ED3F.DE is a Aerospace & Defense fund tracking the Mirae Asset Europe Defence Tech Index. Both are passively managed. Over the past year, EMNU.DE returned 15.70% vs -4.47% for ED3F.DE. At a 0.28 correlation, their price movements are largely independent. EMNU.DE charges 0.12%/yr vs 0.40%/yr for ED3F.DE.
Performance
EMNU.DE vs. ED3F.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EMNU.DE achieves a 7.48% return, which is significantly higher than ED3F.DE's 0.02% return.
EMNU.DE
- 1D
- 0.54%
- 1M
- 1.25%
- YTD
- 7.48%
- 6M
- 10.15%
- 1Y
- 15.70%
- 3Y*
- 12.86%
- 5Y*
- 8.68%
- 10Y*
- —
ED3F.DE
- 1D
- -0.42%
- 1M
- -8.46%
- YTD
- 0.02%
- 6M
- 4.71%
- 1Y
- -4.47%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EMNU.DE vs. ED3F.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
EMNU.DE iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) | 7.48% | 8.02% |
ED3F.DE Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating | 0.02% | 4.82% |
Correlation
The correlation between EMNU.DE and ED3F.DE is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since May 23, 2025 | 0.28 |
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Return for Risk
EMNU.DE vs. ED3F.DE — Risk / Return Rank
EMNU.DE
ED3F.DE
EMNU.DE vs. ED3F.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EMNU.DE) and Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating (ED3F.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.
| EMNU.DE | ED3F.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.26 | ||
| Sortino ratioReturn per unit of downside risk | +1.64 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.01 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | -0.08 | +1.65 |
| Martin ratioReturn relative to average drawdown | 5.60 | -0.18 | +5.78 |
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
| EMNU.DE | ED3F.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | -0.06 | +1.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.15 | +0.42 |
Drawdowns
EMNU.DE vs. ED3F.DE - Drawdown Comparison
The maximum EMNU.DE drawdown since its inception was -34.85%, which is greater than ED3F.DE's maximum drawdown of -23.91%. Use the drawdown chart below to compare losses from any high point for EMNU.DE and ED3F.DE.
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Drawdown Indicators
| EMNU.DE | ED3F.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.85% | -23.91% | -10.94% |
Max Drawdown (1Y)Largest decline over 1 year | -10.00% | -23.91% | +13.91% |
Max Drawdown (3Y)Largest decline over 3 years | -16.42% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -21.72% | — | — |
Current DrawdownCurrent decline from peak | -1.59% | -20.80% | +19.21% |
Average DrawdownAverage peak-to-trough decline | -5.31% | -8.37% | +3.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 10.25% | -7.43% |
Volatility
EMNU.DE vs. ED3F.DE - Volatility Comparison
The current volatility for iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EMNU.DE) is 4.34%, while Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating (ED3F.DE) has a volatility of 10.58%. This indicates that EMNU.DE experiences smaller price fluctuations and is considered to be less risky than ED3F.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMNU.DE | ED3F.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 10.58% | -6.24% |
Volatility (6M)Calculated over the trailing 6-month period | 10.77% | 22.80% | -12.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.16% | 30.60% | -17.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.40% | 30.42% | -16.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.59% | 30.42% | -13.83% |
EMNU.DE vs. ED3F.DE - Expense Ratio Comparison
EMNU.DE has a 0.12% expense ratio, which is lower than ED3F.DE's 0.40% expense ratio.
Dividends
EMNU.DE vs. ED3F.DE - Dividend Comparison
EMNU.DE's dividend yield for the trailing twelve months is around 2.40%, while ED3F.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
ED3F.DE Global X Europe Focused Defence Tech UCITS ETF EUR Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EMNU.DE iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) | 2.40% | 2.58% | 2.92% | 2.80% | 3.02% | 2.25% | 1.90% | 2.63% |
Frequently Asked Questions
EMNU.DE and ED3F.DE have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMNU.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMNU.DE is cheaper with a 0.12% expense ratio, compared with 0.40% for ED3F.DE.
EMNU.DE is categorized as Europe Equities, while ED3F.DE is Aerospace & Defense. EMNU.DE tracks MSCI Europe ESG Enhanced Focus, while ED3F.DE tracks Mirae Asset Europe Defence Tech Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.12% for EMNU.DE and 0.40% for ED3F.DE.
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