EMNU.DE vs. EUN0.DE
EMNU.DE (iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist)) and EUN0.DE (iShares Edge MSCI Europe Minimum Volatility UCITS ETF) are both Europe Equities funds from iShares - EMNU.DE tracks the MSCI Europe ESG Enhanced Focus while EUN0.DE tracks the MSCI Europe Minimum Volatility. Both are passively managed. Over the past 5 years, EMNU.DE returned 8.68%/yr vs 7.36%/yr for EUN0.DE. Their correlation of 0.87 suggests significant overlap in exposure. EMNU.DE charges 0.12%/yr vs 0.25%/yr for EUN0.DE.
Performance
EMNU.DE vs. EUN0.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 EUN0.DE's 5.60% 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*
- —
EUN0.DE
- 1D
- 0.54%
- 1M
- -0.19%
- YTD
- 5.60%
- 6M
- 7.10%
- 1Y
- 5.26%
- 3Y*
- 10.39%
- 5Y*
- 7.36%
- 10Y*
- 6.66%
EMNU.DE vs. EUN0.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMNU.DE iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) | 7.48% | 17.95% | 7.97% | 15.57% | -12.29% | 25.49% | -1.40% | 11.32% |
EUN0.DE iShares Edge MSCI Europe Minimum Volatility UCITS ETF | 5.60% | 12.27% | 11.42% | 10.79% | -13.21% | 21.54% | -4.02% | 10.36% |
Correlation
The correlation between EMNU.DE and EUN0.DE is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since May 8, 2019 | 0.87 |
The correlation between EMNU.DE and EUN0.DE has been stable across timeframes, ranging from 0.78 to 0.87 - a consistent structural relationship.
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Return for Risk
EMNU.DE vs. EUN0.DE — Risk / Return Rank
EMNU.DE
EUN0.DE
EMNU.DE vs. EUN0.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 iShares Edge MSCI Europe Minimum Volatility UCITS ETF (EUN0.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 | EUN0.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.11 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | 0.76 | +0.82 |
| Martin ratioReturn relative to average drawdown | 5.60 | 1.97 | +3.63 |
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 | EUN0.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 0.62 | +0.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.66 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.53 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.63 | -0.06 |
Drawdowns
EMNU.DE vs. EUN0.DE - Drawdown Comparison
The maximum EMNU.DE drawdown since its inception was -34.85%, which is greater than EUN0.DE's maximum drawdown of -30.68%. Use the drawdown chart below to compare losses from any high point for EMNU.DE and EUN0.DE.
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Drawdown Indicators
| EMNU.DE | EUN0.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.85% | -30.68% | -4.17% |
Max Drawdown (1Y)Largest decline over 1 year | -10.00% | -7.16% | -2.84% |
Max Drawdown (3Y)Largest decline over 3 years | -16.42% | -10.73% | -5.69% |
Max Drawdown (5Y)Largest decline over 5 years | -21.72% | -19.64% | -2.08% |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.68% | — |
Current DrawdownCurrent decline from peak | -1.59% | -3.12% | +1.53% |
Average DrawdownAverage peak-to-trough decline | -5.31% | -4.69% | -0.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 2.76% | +0.06% |
Volatility
EMNU.DE vs. EUN0.DE - Volatility Comparison
iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EMNU.DE) has a higher volatility of 4.34% compared to iShares Edge MSCI Europe Minimum Volatility UCITS ETF (EUN0.DE) at 3.03%. This indicates that EMNU.DE's price experiences larger fluctuations and is considered to be riskier than EUN0.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 | EUN0.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 3.03% | +1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 10.77% | 7.20% | +3.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.16% | 8.77% | +4.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.40% | 11.02% | +3.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.59% | 12.51% | +4.08% |
EMNU.DE vs. EUN0.DE - Expense Ratio Comparison
EMNU.DE has a 0.12% expense ratio, which is lower than EUN0.DE's 0.25% 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
EMNU.DE vs. EUN0.DE - Dividend Comparison
EMNU.DE's dividend yield for the trailing twelve months is around 2.40%, while EUN0.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
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% |
EUN0.DE iShares Edge MSCI Europe Minimum Volatility UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMNU.DE and EUN0.DE have a correlation of 0.78, 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 0.25% for EUN0.DE.
EMNU.DE tracks MSCI Europe ESG Enhanced Focus, while EUN0.DE tracks MSCI Europe Minimum Volatility. Their fees differ too: 0.12% for EMNU.DE and 0.25% for EUN0.DE.
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