EUN3.DE vs. HGGA.DE
EUN3.DE (iShares Global Government Bond UCITS ETF USD (Dist)) and HGGA.DE (HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF) are both Global Bonds funds - EUN3.DE tracks the FTSE G7 Government Bond while HGGA.DE tracks the Bloomberg MSCI Global Aggregate 1-3 SRI Carbon ESG-Weighted. Both are passively managed. Over the past 3 years, EUN3.DE returned -1.80%/yr vs 0.90%/yr for HGGA.DE. A 0.71 correlation means they provide meaningful diversification when combined. EUN3.DE charges 0.20%/yr vs 0.18%/yr for HGGA.DE.
Performance
EUN3.DE vs. HGGA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EUN3.DE achieves a -1.67% return, which is significantly lower than HGGA.DE's 1.31% return.
EUN3.DE
- 1D
- 0.03%
- 1M
- 0.35%
- YTD
- -1.67%
- 6M
- -2.34%
- 1Y
- -2.97%
- 3Y*
- -1.80%
- 5Y*
- -2.76%
- 10Y*
- -1.20%
HGGA.DE
- 1D
- 0.00%
- 1M
- 0.50%
- YTD
- 1.31%
- 6M
- 0.88%
- 1Y
- 0.39%
- 3Y*
- 0.90%
- 5Y*
- —
- 10Y*
- —
EUN3.DE vs. HGGA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EUN3.DE iShares Global Government Bond UCITS ETF USD (Dist) | -1.67% | -5.37% | 2.25% | 0.44% | -11.61% |
HGGA.DE HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF | 1.31% | -4.17% | 5.69% | 0.16% | -1.86% |
Correlation
The correlation between EUN3.DE and HGGA.DE is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2022 | 0.71 |
The correlation between EUN3.DE and HGGA.DE shifts across timeframes, from 0.60 (1 year) to 0.71 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EUN3.DE vs. HGGA.DE — Risk / Return Rank
EUN3.DE
HGGA.DE
EUN3.DE vs. HGGA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Government Bond UCITS ETF USD (Dist) (EUN3.DE) and HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF (HGGA.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.
| EUN3.DE | HGGA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.05 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.01 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.70 | 0.08 | -0.79 |
| Martin ratioReturn relative to average drawdown | -1.37 | 0.17 | -1.54 |
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
| EUN3.DE | HGGA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.74 | 0.05 | -0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.40 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.19 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.04 | +0.13 |
Drawdowns
EUN3.DE vs. HGGA.DE - Drawdown Comparison
The maximum EUN3.DE drawdown since its inception was -22.74%, which is greater than HGGA.DE's maximum drawdown of -8.58%. Use the drawdown chart below to compare losses from any high point for EUN3.DE and HGGA.DE.
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Drawdown Indicators
| EUN3.DE | HGGA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.74% | -8.58% | -14.16% |
Max Drawdown (1Y)Largest decline over 1 year | -4.71% | -2.04% | -2.67% |
Max Drawdown (3Y)Largest decline over 3 years | -10.14% | -6.78% | -3.36% |
Max Drawdown (5Y)Largest decline over 5 years | -18.98% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -22.74% | — | — |
Current DrawdownCurrent decline from peak | -21.83% | -4.56% | -17.27% |
Average DrawdownAverage peak-to-trough decline | -9.52% | -4.18% | -5.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.42% | 1.02% | +1.40% |
Volatility
EUN3.DE vs. HGGA.DE - Volatility Comparison
iShares Global Government Bond UCITS ETF USD (Dist) (EUN3.DE) has a higher volatility of 1.12% compared to HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF (HGGA.DE) at 0.53%. This indicates that EUN3.DE's price experiences larger fluctuations and is considered to be riskier than HGGA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUN3.DE | HGGA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 0.53% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 3.34% | 2.33% | +1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.44% | 3.42% | +1.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.83% | 4.98% | +1.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.23% | 4.98% | +1.25% |
EUN3.DE vs. HGGA.DE - Expense Ratio Comparison
EUN3.DE has a 0.20% expense ratio, which is higher than HGGA.DE's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EUN3.DE vs. HGGA.DE - Dividend Comparison
EUN3.DE's dividend yield for the trailing twelve months is around 1.50%, while HGGA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUN3.DE iShares Global Government Bond UCITS ETF USD (Dist) | 1.50% | 3.09% | 2.40% | 1.47% | 0.79% | 0.60% | 1.08% | 1.20% | 1.04% | 1.01% | 1.04% | 0.59% |
HGGA.DE HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EUN3.DE and HGGA.DE have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HGGA.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HGGA.DE is cheaper with a 0.18% expense ratio, compared with 0.20% for EUN3.DE.
EUN3.DE tracks FTSE G7 Government Bond, while HGGA.DE tracks Bloomberg MSCI Global Aggregate 1-3 SRI Carbon ESG-Weighted. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.20% for EUN3.DE and 0.18% for HGGA.DE.
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