ESGM.DE vs. EUNZ.DE
ESGM.DE (Invesco MSCI Emerging Markets ESG Universal Screened UCITS ETF Acc) and EUNZ.DE (iShares Edge MSCI EM Minimum Volatility UCITS ETF) are both Emerging Markets Equities funds - ESGM.DE tracks the MSCI Emerging Markets ESG Universal Select Business Screens while EUNZ.DE tracks the MSCI Emerging Markets Minimum Volatility. Both are passively managed. Over the past 3 years, ESGM.DE returned 20.28%/yr vs 11.07%/yr for EUNZ.DE. Their correlation of 0.84 suggests significant overlap in exposure. ESGM.DE charges 0.19%/yr vs 0.40%/yr for EUNZ.DE.
Performance
ESGM.DE vs. EUNZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ESGM.DE achieves a 29.14% return, which is significantly higher than EUNZ.DE's 18.69% return.
ESGM.DE
- 1D
- -1.89%
- 1M
- 5.25%
- YTD
- 29.14%
- 6M
- 30.08%
- 1Y
- 49.72%
- 3Y*
- 20.28%
- 5Y*
- —
- 10Y*
- —
EUNZ.DE
- 1D
- -1.19%
- 1M
- 3.85%
- YTD
- 18.69%
- 6M
- 17.92%
- 1Y
- 22.13%
- 3Y*
- 11.07%
- 5Y*
- 6.48%
- 10Y*
- 6.20%
ESGM.DE vs. EUNZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ESGM.DE Invesco MSCI Emerging Markets ESG Universal Screened UCITS ETF Acc | 29.14% | 18.22% | 12.10% | 5.50% | -14.87% | -3.89% |
EUNZ.DE iShares Edge MSCI EM Minimum Volatility UCITS ETF | 18.69% | -0.15% | 15.73% | 3.85% | -8.85% | 4.05% |
Correlation
The correlation between ESGM.DE and EUNZ.DE is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2021 | 0.84 |
The correlation between ESGM.DE and EUNZ.DE has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.
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Return for Risk
ESGM.DE vs. EUNZ.DE — Risk / Return Rank
ESGM.DE
EUNZ.DE
ESGM.DE vs. EUNZ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Emerging Markets ESG Universal Screened UCITS ETF Acc (ESGM.DE) and iShares Edge MSCI EM Minimum Volatility UCITS ETF (EUNZ.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.
| ESGM.DE | EUNZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.35 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 4.69 | 3.00 | +1.69 |
| Martin ratioReturn relative to average drawdown | 17.49 | 10.57 | +6.93 |
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
| ESGM.DE | EUNZ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.75 | 1.85 | +0.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.56 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.46 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.35 | +0.13 |
Drawdowns
ESGM.DE vs. EUNZ.DE - Drawdown Comparison
The maximum ESGM.DE drawdown since its inception was -23.67%, smaller than the maximum EUNZ.DE drawdown of -30.47%. Use the drawdown chart below to compare losses from any high point for ESGM.DE and EUNZ.DE.
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Drawdown Indicators
| ESGM.DE | EUNZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.67% | -30.47% | +6.80% |
Max Drawdown (1Y)Largest decline over 1 year | -10.81% | -7.50% | -3.31% |
Max Drawdown (3Y)Largest decline over 3 years | -19.03% | -14.00% | -5.03% |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.00% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.15% | — |
Current DrawdownCurrent decline from peak | -2.36% | -1.96% | -0.40% |
Average DrawdownAverage peak-to-trough decline | -9.34% | -7.62% | -1.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 2.13% | +0.77% |
Volatility
ESGM.DE vs. EUNZ.DE - Volatility Comparison
Invesco MSCI Emerging Markets ESG Universal Screened UCITS ETF Acc (ESGM.DE) has a higher volatility of 7.41% compared to iShares Edge MSCI EM Minimum Volatility UCITS ETF (EUNZ.DE) at 4.75%. This indicates that ESGM.DE's price experiences larger fluctuations and is considered to be riskier than EUNZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESGM.DE | EUNZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.41% | 4.75% | +2.66% |
Volatility (6M)Calculated over the trailing 6-month period | 15.79% | 10.35% | +5.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.41% | 12.18% | +6.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.02% | 11.41% | +5.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.02% | 13.32% | +3.70% |
ESGM.DE vs. EUNZ.DE - Expense Ratio Comparison
ESGM.DE has a 0.19% expense ratio, which is lower than EUNZ.DE's 0.40% expense ratio.
Dividends
ESGM.DE vs. EUNZ.DE - Dividend Comparison
Neither ESGM.DE nor EUNZ.DE has paid dividends to shareholders.
Frequently Asked Questions
ESGM.DE and EUNZ.DE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ESGM.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ESGM.DE is cheaper with a 0.19% expense ratio, compared with 0.40% for EUNZ.DE.
ESGM.DE tracks MSCI Emerging Markets ESG Universal Select Business Screens, while EUNZ.DE tracks MSCI Emerging Markets Minimum Volatility. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for ESGM.DE and 0.40% for EUNZ.DE.
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