EUN3.DE vs. VAGF.DE
EUN3.DE (iShares Global Government Bond UCITS ETF USD (Dist)) and VAGF.DE (Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc) are both Global Bonds funds - EUN3.DE tracks the FTSE G7 Government Bond while VAGF.DE tracks the Bloomberg Global Aggregate Float Adjusted and Scaled (EUR Hedged). Both are passively managed. Over the past 5 years, EUN3.DE returned -2.76%/yr vs -1.66%/yr for VAGF.DE. A 0.57 correlation means they provide meaningful diversification when combined. EUN3.DE charges 0.20%/yr vs 0.10%/yr for VAGF.DE.
Performance
EUN3.DE vs. VAGF.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 VAGF.DE's -0.68% 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%
VAGF.DE
- 1D
- 0.09%
- 1M
- -0.28%
- YTD
- -0.68%
- 6M
- -0.37%
- 1Y
- 1.16%
- 3Y*
- 2.04%
- 5Y*
- -1.66%
- 10Y*
- —
EUN3.DE vs. VAGF.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EUN3.DE iShares Global Government Bond UCITS ETF USD (Dist) | -1.67% | -5.37% | 2.25% | 0.44% | -12.65% | 1.09% | -0.23% | 1.24% |
VAGF.DE Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc | -0.68% | 3.23% | 0.82% | 4.53% | -14.84% | -2.97% | 5.07% | 0.73% |
Correlation
The correlation between EUN3.DE and VAGF.DE is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2019 | 0.57 |
The correlation between EUN3.DE and VAGF.DE shifts across timeframes, from 0.43 (1 year) to 0.59 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EUN3.DE vs. VAGF.DE — Risk / Return Rank
EUN3.DE
VAGF.DE
EUN3.DE vs. VAGF.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 Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (VAGF.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 | VAGF.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.07 | ||
| Sortino ratioReturn per unit of downside risk | -1.45 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.06 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | -0.70 | 0.38 | -1.09 |
| Martin ratioReturn relative to average drawdown | -1.37 | 1.06 | -2.43 |
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 | VAGF.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.74 | 0.33 | -1.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.40 | -0.33 | -0.06 |
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 | -0.17 | +0.34 |
Drawdowns
EUN3.DE vs. VAGF.DE - Drawdown Comparison
The maximum EUN3.DE drawdown since its inception was -22.74%, which is greater than VAGF.DE's maximum drawdown of -19.57%. Use the drawdown chart below to compare losses from any high point for EUN3.DE and VAGF.DE.
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Drawdown Indicators
| EUN3.DE | VAGF.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.74% | -19.57% | -3.17% |
Max Drawdown (1Y)Largest decline over 1 year | -4.71% | -3.11% | -1.60% |
Max Drawdown (3Y)Largest decline over 3 years | -10.14% | -4.45% | -5.69% |
Max Drawdown (5Y)Largest decline over 5 years | -18.98% | -18.79% | -0.19% |
Max Drawdown (10Y)Largest decline over 10 years | -22.74% | — | — |
Current DrawdownCurrent decline from peak | -21.83% | -10.73% | -11.10% |
Average DrawdownAverage peak-to-trough decline | -9.52% | -8.99% | -0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.42% | 1.13% | +1.29% |
Volatility
EUN3.DE vs. VAGF.DE - Volatility Comparison
The current volatility for iShares Global Government Bond UCITS ETF USD (Dist) (EUN3.DE) is 1.12%, while Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (VAGF.DE) has a volatility of 1.55%. This indicates that EUN3.DE experiences smaller price fluctuations and is considered to be less risky than VAGF.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 | VAGF.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 1.55% | -0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 3.34% | 2.98% | +0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.44% | 3.63% | +0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.83% | 4.90% | +1.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.23% | 4.71% | +1.52% |
EUN3.DE vs. VAGF.DE - Expense Ratio Comparison
EUN3.DE has a 0.20% expense ratio, which is higher than VAGF.DE's 0.10% 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. VAGF.DE - Dividend Comparison
EUN3.DE's dividend yield for the trailing twelve months is around 1.50%, while VAGF.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% |
VAGF.DE Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc | 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 VAGF.DE have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VAGF.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VAGF.DE is cheaper with a 0.10% expense ratio, compared with 0.20% for EUN3.DE.
EUN3.DE tracks FTSE G7 Government Bond, while VAGF.DE tracks Bloomberg Global Aggregate Float Adjusted and Scaled (EUR Hedged). They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.20% for EUN3.DE and 0.10% for VAGF.DE.
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