EUN0.DE vs. VLED.DE
EUN0.DE (iShares Edge MSCI Europe Minimum Volatility UCITS ETF) and VLED.DE (BNP Paribas Easy ESG Low Volatility Europe UCITS ETF) are both Europe Equities funds - EUN0.DE tracks the MSCI Europe Minimum Volatility while VLED.DE tracks the BNP Paribas Low Vol Europe ESG. Both are passively managed. Over the past 5 years, EUN0.DE returned 7.36%/yr vs 7.61%/yr for VLED.DE. Their correlation of 0.94 suggests significant overlap in exposure. EUN0.DE charges 0.25%/yr vs 0.30%/yr for VLED.DE.
Performance
EUN0.DE vs. VLED.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EUN0.DE achieves a 5.60% return, which is significantly higher than VLED.DE's 4.74% return.
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%
VLED.DE
- 1D
- 0.71%
- 1M
- -0.91%
- YTD
- 4.74%
- 6M
- 6.88%
- 1Y
- 6.22%
- 3Y*
- 10.02%
- 5Y*
- 7.61%
- 10Y*
- —
EUN0.DE vs. VLED.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUN0.DE iShares Edge MSCI Europe Minimum Volatility UCITS ETF | 5.60% | 12.27% | 11.42% | 10.79% | -13.21% | 21.54% | -4.02% | 24.17% | -4.36% | 7.20% |
VLED.DE BNP Paribas Easy ESG Low Volatility Europe UCITS ETF | 4.74% | 12.36% | 11.46% | 11.66% | -13.53% | 27.24% | -5.11% | 25.67% | -3.51% | 9.99% |
Correlation
The correlation between EUN0.DE and VLED.DE is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2017 | 0.94 |
The correlation between EUN0.DE and VLED.DE has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.
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Return for Risk
EUN0.DE vs. VLED.DE — Risk / Return Rank
EUN0.DE
VLED.DE
EUN0.DE vs. VLED.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Minimum Volatility UCITS ETF (EUN0.DE) and BNP Paribas Easy ESG Low Volatility Europe UCITS ETF (VLED.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.
| EUN0.DE | VLED.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.10 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.76 | 0.60 | +0.16 |
| Martin ratioReturn relative to average drawdown | 1.97 | 1.76 | +0.22 |
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
| EUN0.DE | VLED.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.62 | 0.53 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | 0.61 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.59 | +0.05 |
Drawdowns
EUN0.DE vs. VLED.DE - Drawdown Comparison
The maximum EUN0.DE drawdown since its inception was -30.68%, roughly equal to the maximum VLED.DE drawdown of -32.22%. Use the drawdown chart below to compare losses from any high point for EUN0.DE and VLED.DE.
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Drawdown Indicators
| EUN0.DE | VLED.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.68% | -32.22% | +1.54% |
Max Drawdown (1Y)Largest decline over 1 year | -7.16% | -10.23% | +3.07% |
Max Drawdown (3Y)Largest decline over 3 years | -10.73% | -12.51% | +1.78% |
Max Drawdown (5Y)Largest decline over 5 years | -19.64% | -19.88% | +0.24% |
Max Drawdown (10Y)Largest decline over 10 years | -30.68% | — | — |
Current DrawdownCurrent decline from peak | -3.12% | -4.64% | +1.52% |
Average DrawdownAverage peak-to-trough decline | -4.69% | -5.04% | +0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.76% | 3.50% | -0.74% |
Volatility
EUN0.DE vs. VLED.DE - Volatility Comparison
The current volatility for iShares Edge MSCI Europe Minimum Volatility UCITS ETF (EUN0.DE) is 3.03%, while BNP Paribas Easy ESG Low Volatility Europe UCITS ETF (VLED.DE) has a volatility of 3.80%. This indicates that EUN0.DE experiences smaller price fluctuations and is considered to be less risky than VLED.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUN0.DE | VLED.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.03% | 3.80% | -0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 7.20% | 9.70% | -2.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.77% | 11.65% | -2.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.02% | 12.30% | -1.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.51% | 13.50% | -0.99% |
EUN0.DE vs. VLED.DE - Expense Ratio Comparison
EUN0.DE has a 0.25% expense ratio, which is lower than VLED.DE's 0.30% expense ratio.
Dividends
EUN0.DE vs. VLED.DE - Dividend Comparison
EUN0.DE has not paid dividends to shareholders, while VLED.DE's dividend yield for the trailing twelve months is around 2.68%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
VLED.DE BNP Paribas Easy ESG Low Volatility Europe UCITS ETF | 2.68% | 2.94% | 2.30% | 2.02% | 2.83% | 1.82% | 2.68% | 3.20% | 3.74% |
Frequently Asked Questions
EUN0.DE and VLED.DE have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUN0.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUN0.DE is cheaper with a 0.25% expense ratio, compared with 0.30% for VLED.DE.
EUN0.DE tracks MSCI Europe Minimum Volatility, while VLED.DE tracks BNP Paribas Low Vol Europe ESG. They also come from different issuers: iShares and BNP Paribas. Their fees differ too: 0.25% for EUN0.DE and 0.30% for VLED.DE.
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