EUN3.DE vs. IS0Z.DE
EUN3.DE (iShares Global Government Bond UCITS ETF USD (Dist)) and IS0Z.DE (iShares Global AAA-AA Government Bond UCITS ETF (Dist)) are both Global Bonds funds from iShares - EUN3.DE tracks the FTSE G7 Government Bond while IS0Z.DE tracks the Bloomberg Global Government AAA-AA Capped Bond. Both are passively managed. Over the past 10 years, EUN3.DE returned -1.20%/yr vs -0.58%/yr for IS0Z.DE. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.
Performance
EUN3.DE vs. IS0Z.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 IS0Z.DE's 1.29% return. Over the past 10 years, EUN3.DE has underperformed IS0Z.DE with an annualized return of -1.20%, while IS0Z.DE has yielded a comparatively higher -0.58% annualized 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%
IS0Z.DE
- 1D
- 0.06%
- 1M
- 0.21%
- YTD
- 1.29%
- 6M
- 1.26%
- 1Y
- 0.54%
- 3Y*
- 1.18%
- 5Y*
- -2.11%
- 10Y*
- -0.58%
EUN3.DE vs. IS0Z.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUN3.DE iShares Global Government Bond UCITS ETF USD (Dist) | -1.67% | -5.37% | 2.25% | 0.44% | -12.65% | 1.09% | -0.23% | 8.23% | 4.02% | -6.88% |
IS0Z.DE iShares Global AAA-AA Government Bond UCITS ETF (Dist) | 1.29% | -1.88% | 0.75% | 4.39% | -16.12% | -0.07% | 2.03% | 7.04% | 1.73% | -3.57% |
Correlation
The correlation between EUN3.DE and IS0Z.DE is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2012 | 0.84 |
The correlation between EUN3.DE and IS0Z.DE shifts across timeframes, from 0.68 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EUN3.DE vs. IS0Z.DE — Risk / Return Rank
EUN3.DE
IS0Z.DE
EUN3.DE vs. IS0Z.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 iShares Global AAA-AA Government Bond UCITS ETF (Dist) (IS0Z.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 | IS0Z.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -1.06 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.01 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.70 | 0.09 | -0.80 |
| Martin ratioReturn relative to average drawdown | -1.37 | 0.19 | -1.56 |
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 | IS0Z.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.74 | 0.06 | -0.81 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.40 | -0.34 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.19 | -0.10 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.05 | +0.12 |
Drawdowns
EUN3.DE vs. IS0Z.DE - Drawdown Comparison
The maximum EUN3.DE drawdown since its inception was -22.74%, which is greater than IS0Z.DE's maximum drawdown of -21.02%. Use the drawdown chart below to compare losses from any high point for EUN3.DE and IS0Z.DE.
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Drawdown Indicators
| EUN3.DE | IS0Z.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.74% | -21.02% | -1.72% |
Max Drawdown (1Y)Largest decline over 1 year | -4.71% | -2.50% | -2.21% |
Max Drawdown (3Y)Largest decline over 3 years | -10.14% | -5.11% | -5.03% |
Max Drawdown (5Y)Largest decline over 5 years | -18.98% | -19.65% | +0.67% |
Max Drawdown (10Y)Largest decline over 10 years | -22.74% | -21.02% | -1.72% |
Current DrawdownCurrent decline from peak | -21.83% | -15.06% | -6.77% |
Average DrawdownAverage peak-to-trough decline | -9.52% | -7.48% | -2.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.42% | 1.21% | +1.21% |
Volatility
EUN3.DE vs. IS0Z.DE - Volatility Comparison
The current volatility for iShares Global Government Bond UCITS ETF USD (Dist) (EUN3.DE) is 1.12%, while iShares Global AAA-AA Government Bond UCITS ETF (Dist) (IS0Z.DE) has a volatility of 1.69%. This indicates that EUN3.DE experiences smaller price fluctuations and is considered to be less risky than IS0Z.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 | IS0Z.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 1.69% | -0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 3.34% | 3.07% | +0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.44% | 3.82% | +0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.83% | 6.19% | +0.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.23% | 5.66% | +0.57% |
EUN3.DE vs. IS0Z.DE - Expense Ratio Comparison
Both EUN3.DE and IS0Z.DE have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
EUN3.DE vs. IS0Z.DE - Dividend Comparison
EUN3.DE's dividend yield for the trailing twelve months is around 1.50%, less than IS0Z.DE's 2.67% yield.
| 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% |
IS0Z.DE iShares Global AAA-AA Government Bond UCITS ETF (Dist) | 2.67% | 2.51% | 2.30% | 1.57% | 0.80% | 0.47% | 0.62% | 0.88% | 0.90% | 0.82% | 0.84% | 1.06% |
Frequently Asked Questions
EUN3.DE and IS0Z.DE have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
EUN3.DE and IS0Z.DE have the same expense ratio: 0.20% per year.
EUN3.DE tracks FTSE G7 Government Bond, while IS0Z.DE tracks Bloomberg Global Government AAA-AA Capped Bond.
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