EUNH.DE vs. DEAM.DE
EUNH.DE (iShares Core Euro Government Bond UCITS ETF (Dist)) and DEAM.DE (Invesco MDAX UCITS ETF A) are both exchange-traded funds - EUNH.DE is a European Government Bonds fund tracking the Bloomberg Euro Aggregate Treasury, while DEAM.DE is a Europe Equities fund tracking the MDAX®. Both are passively managed. Over the past 5 years, EUNH.DE returned -2.85%/yr vs -1.95%/yr for DEAM.DE. At a 0.11 correlation, their price movements are largely independent. EUNH.DE charges 0.07%/yr vs 0.19%/yr for DEAM.DE.
Performance
EUNH.DE vs. DEAM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EUNH.DE achieves a -1.68% return, which is significantly lower than DEAM.DE's 3.71% return.
EUNH.DE
- 1D
- 0.05%
- 1M
- -1.17%
- 6M
- -0.68%
- YTD
- -1.68%
- 1Y
- -1.04%
- 3Y*
- 1.61%
- 5Y*
- -2.85%
- 10Y*
- -0.68%
DEAM.DE
- 1D
- 0.06%
- 1M
- -1.89%
- 6M
- -0.55%
- YTD
- 3.71%
- 1Y
- 2.10%
- 3Y*
- 3.87%
- 5Y*
- -1.95%
- 10Y*
- —
EUNH.DE vs. DEAM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EUNH.DE iShares Core Euro Government Bond UCITS ETF (Dist) | -1.68% | 0.80% | 1.52% | 6.83% | -18.31% | -3.38% | 4.72% | 6.17% |
DEAM.DE Invesco MDAX UCITS ETF A | 3.71% | 19.33% | -6.04% | 7.34% | -28.80% | 13.67% | 8.06% | 20.37% |
Correlation
The correlation between EUNH.DE and DEAM.DE is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2019 | 0.11 |
Over the past year, EUNH.DE and DEAM.DE have become more correlated (0.34) than their long-term average of 0.11, meaning their price movements have been converging.
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Return for Risk
EUNH.DE vs. DEAM.DE — Risk / Return Rank
EUNH.DE
DEAM.DE
EUNH.DE vs. DEAM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Euro Government Bond UCITS ETF (Dist) (EUNH.DE) and Invesco MDAX UCITS ETF A (DEAM.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.
| EUNH.DE | DEAM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.63 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.04 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 0.15 | -0.48 |
| Martin ratioReturn relative to average drawdown | -0.74 | 0.43 | -1.17 |
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Drawdowns
EUNH.DE vs. DEAM.DE - Drawdown Comparison
The maximum EUNH.DE drawdown since its inception was -22.42%, smaller than the maximum DEAM.DE drawdown of -40.04%. Use the drawdown chart below to compare losses from any high point for EUNH.DE and DEAM.DE.
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Drawdown Indicators
| EUNH.DE | DEAM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.42% | -40.04% | +17.62% |
Max Drawdown (1Y)Largest decline over 1 year | -3.59% | -14.95% | +11.36% |
Max Drawdown (3Y)Largest decline over 3 years | -4.10% | -18.48% | +14.38% |
Max Drawdown (5Y)Largest decline over 5 years | -21.53% | -40.04% | +18.51% |
Max Drawdown (10Y)Largest decline over 10 years | -22.42% | — | — |
Current DrawdownCurrent decline from peak | -15.48% | -13.92% | -1.56% |
Average DrawdownAverage peak-to-trough decline | -5.88% | -16.18% | +10.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.57% | 5.36% | -3.79% |
Volatility
EUNH.DE vs. DEAM.DE - Volatility Comparison
The current volatility for iShares Core Euro Government Bond UCITS ETF (Dist) (EUNH.DE) is 1.12%, while Invesco MDAX UCITS ETF A (DEAM.DE) has a volatility of 4.94%. This indicates that EUNH.DE experiences smaller price fluctuations and is considered to be less risky than DEAM.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUNH.DE | DEAM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 4.94% | -3.82% |
Volatility (6M)Calculated over the trailing 6-month period | 3.74% | 15.96% | -12.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.55% | 18.83% | -14.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.37% | 19.40% | -13.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.52% | 19.56% | -14.04% |
EUNH.DE vs. DEAM.DE - Expense Ratio Comparison
EUNH.DE has a 0.07% expense ratio, which is lower than DEAM.DE's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EUNH.DE vs. DEAM.DE - Dividend Comparison
EUNH.DE's dividend yield for the trailing twelve months is around 1.31%, while DEAM.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DEAM.DE Invesco MDAX UCITS ETF A | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EUNH.DE iShares Core Euro Government Bond UCITS ETF (Dist) | 1.31% | 2.30% | 1.77% | 0.97% | 0.27% | 0.24% | 0.47% | 0.65% | 0.66% | 0.70% | 0.94% | 0.62% |
Frequently Asked Questions
EUNH.DE and DEAM.DE have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNH.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNH.DE is cheaper with a 0.07% expense ratio, compared with 0.19% for DEAM.DE.
EUNH.DE is categorized as European Government Bonds, while DEAM.DE is Europe Equities. EUNH.DE tracks Bloomberg Euro Aggregate Treasury, while DEAM.DE tracks MDAX®. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.07% for EUNH.DE and 0.19% for DEAM.DE.
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