EUN0.DE vs. XESP.DE
EUN0.DE (iShares Edge MSCI Europe Minimum Volatility UCITS ETF) and XESP.DE (Xtrackers Spanish Equity UCITS ETF) are both Europe Equities funds - EUN0.DE tracks the MSCI Europe Minimum Volatility while XESP.DE tracks the Solactive Spain 40. Both are passively managed. Over the past 10 years, EUN0.DE returned 7.39%/yr vs 13.68%/yr for XESP.DE. A 0.69 correlation means they provide meaningful diversification when combined. EUN0.DE charges 0.25%/yr vs 0.30%/yr for XESP.DE.
Performance
EUN0.DE vs. XESP.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EUN0.DE achieves a 7.42% return, which is significantly lower than XESP.DE's 14.35% return. Over the past 10 years, EUN0.DE has underperformed XESP.DE with an annualized return of 7.39%, while XESP.DE has yielded a comparatively higher 13.68% annualized return.
EUN0.DE
- 1D
- -0.01%
- 1M
- 0.71%
- YTD
- 7.42%
- 6M
- 7.82%
- 1Y
- 10.67%
- 3Y*
- 11.66%
- 5Y*
- 7.18%
- 10Y*
- 7.39%
XESP.DE
- 1D
- -0.45%
- 1M
- 6.12%
- YTD
- 14.35%
- 6M
- 15.38%
- 1Y
- 47.18%
- 3Y*
- 31.64%
- 5Y*
- 20.27%
- 10Y*
- 13.68%
EUN0.DE vs. XESP.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 | 7.42% | 12.27% | 11.42% | 10.79% | -13.21% | 21.52% | -4.02% | 24.18% | -4.36% | 9.14% |
XESP.DE Xtrackers Spanish Equity UCITS ETF | 14.35% | 58.64% | 14.63% | 26.81% | -1.62% | 10.85% | -10.20% | 15.89% | -12.41% | 12.92% |
Correlation
The correlation between EUN0.DE and XESP.DE is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2013 | 0.69 |
The correlation between EUN0.DE and XESP.DE shifts across timeframes, from 0.51 (1 year) to 0.69 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EUN0.DE vs. XESP.DE — Risk / Return Rank
EUN0.DE
XESP.DE
EUN0.DE vs. XESP.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 Xtrackers Spanish Equity UCITS ETF (XESP.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.
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.
| EUN0.DE | XESP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.58 | ||
| Sortino ratioReturn per unit of downside risk | -2.04 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.49 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | 4.62 | -3.13 |
| Martin ratioReturn relative to average drawdown | 4.58 | 16.41 | -11.83 |
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Drawdowns
EUN0.DE vs. XESP.DE - Drawdown Comparison
The maximum EUN0.DE drawdown since its inception was -30.68%, smaller than the maximum XESP.DE drawdown of -40.70%. Use the drawdown chart below to compare losses from any high point for EUN0.DE and XESP.DE.
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Drawdown Indicators
| EUN0.DE | XESP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.68% | -40.70% | +10.02% |
Max Drawdown (1Y)Largest decline over 1 year | -7.16% | -10.17% | +3.01% |
Max Drawdown (3Y)Largest decline over 3 years | -10.73% | -12.92% | +2.19% |
Max Drawdown (5Y)Largest decline over 5 years | -19.64% | -18.56% | -1.08% |
Max Drawdown (10Y)Largest decline over 10 years | -30.68% | -39.03% | +8.35% |
Current DrawdownCurrent decline from peak | -1.45% | -0.54% | -0.91% |
Average DrawdownAverage peak-to-trough decline | -4.68% | -10.06% | +5.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 2.87% | -0.55% |
Volatility
EUN0.DE vs. XESP.DE - Volatility Comparison
The current volatility for iShares Edge MSCI Europe Minimum Volatility UCITS ETF (EUN0.DE) is 1.79%, while Xtrackers Spanish Equity UCITS ETF (XESP.DE) has a volatility of 4.24%. This indicates that EUN0.DE experiences smaller price fluctuations and is considered to be less risky than XESP.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 | XESP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.79% | 4.24% | -2.45% |
Volatility (6M)Calculated over the trailing 6-month period | 7.25% | 14.45% | -7.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.85% | 16.90% | -8.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.02% | 16.73% | -5.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.28% | 18.43% | -6.15% |
EUN0.DE vs. XESP.DE - Expense Ratio Comparison
EUN0.DE has a 0.25% expense ratio, which is lower than XESP.DE's 0.30% expense ratio.
Dividends
EUN0.DE vs. XESP.DE - Dividend Comparison
Neither EUN0.DE nor XESP.DE has paid dividends to shareholders.
Frequently Asked Questions
EUN0.DE and XESP.DE have a correlation of 0.51, 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 XESP.DE.
EUN0.DE tracks MSCI Europe Minimum Volatility, while XESP.DE tracks Solactive Spain 40. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.25% for EUN0.DE and 0.30% for XESP.DE.
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