EUNH.DE vs. EMXC.DE
EUNH.DE (iShares Core Euro Government Bond UCITS ETF (Dist)) and EMXC.DE (Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc) are both exchange-traded funds - EUNH.DE is a European Government Bonds fund tracking the Bloomberg Euro Aggregate Treasury, while EMXC.DE is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Both are passively managed. Over the past 5 years, EUNH.DE returned -2.85%/yr vs 11.87%/yr for EMXC.DE. At a 0.08 correlation, their price movements are largely independent. EUNH.DE charges 0.07%/yr vs 0.15%/yr for EMXC.DE.
Performance
EUNH.DE vs. EMXC.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 EMXC.DE's 30.36% 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%
EMXC.DE
- 1D
- -1.60%
- 1M
- -12.60%
- 6M
- 21.10%
- YTD
- 30.36%
- 1Y
- 49.32%
- 3Y*
- 21.90%
- 5Y*
- 11.87%
- 10Y*
- —
EUNH.DE vs. EMXC.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% | 1.21% |
EMXC.DE Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc | 30.36% | 19.92% | 9.13% | 14.31% | -13.59% | 17.56% | 2.25% | -4.50% |
Correlation
The correlation between EUNH.DE and EMXC.DE is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jun 20, 2019 | 0.08 |
Over the past year, EUNH.DE and EMXC.DE have become more correlated (0.37) than their long-term average of 0.08, meaning their price movements have been converging.
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Return for Risk
EUNH.DE vs. EMXC.DE — Risk / Return Rank
EUNH.DE
EMXC.DE
EUNH.DE vs. EMXC.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 Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.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 | EMXC.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.35 | ||
| Sortino ratioReturn per unit of downside risk | -3.05 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.37 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 3.51 | -3.83 |
| Martin ratioReturn relative to average drawdown | -0.74 | 12.15 | -12.89 |
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Drawdowns
EUNH.DE vs. EMXC.DE - Drawdown Comparison
The maximum EUNH.DE drawdown since its inception was -22.42%, smaller than the maximum EMXC.DE drawdown of -40.89%. Use the drawdown chart below to compare losses from any high point for EUNH.DE and EMXC.DE.
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Drawdown Indicators
| EUNH.DE | EMXC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.42% | -40.89% | +18.47% |
Max Drawdown (1Y)Largest decline over 1 year | -3.59% | -13.66% | +10.07% |
Max Drawdown (3Y)Largest decline over 3 years | -4.10% | -20.47% | +16.37% |
Max Drawdown (5Y)Largest decline over 5 years | -21.53% | -20.47% | -1.06% |
Max Drawdown (10Y)Largest decline over 10 years | -22.42% | — | — |
Current DrawdownCurrent decline from peak | -15.48% | -13.66% | -1.82% |
Average DrawdownAverage peak-to-trough decline | -5.88% | -7.73% | +1.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.57% | 3.95% | -2.38% |
Volatility
EUNH.DE vs. EMXC.DE - Volatility Comparison
The current volatility for iShares Core Euro Government Bond UCITS ETF (Dist) (EUNH.DE) is 1.12%, while Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.DE) has a volatility of 9.94%. This indicates that EUNH.DE experiences smaller price fluctuations and is considered to be less risky than EMXC.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 | EMXC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 9.94% | -8.82% |
Volatility (6M)Calculated over the trailing 6-month period | 3.74% | 20.82% | -17.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.55% | 23.00% | -18.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.37% | 16.71% | -10.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.52% | 19.20% | -13.68% |
EUNH.DE vs. EMXC.DE - Expense Ratio Comparison
EUNH.DE has a 0.07% expense ratio, which is lower than EMXC.DE's 0.15% 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. EMXC.DE - Dividend Comparison
EUNH.DE's dividend yield for the trailing twelve months is around 1.31%, while EMXC.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMXC.DE Lyxor MSCI Emerging Markets Ex China UCITS ETF - 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% |
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 EMXC.DE have a correlation of 0.37, 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 0.15% for EMXC.DE.
EUNH.DE is categorized as European Government Bonds, while EMXC.DE is Emerging Markets Equities. EUNH.DE tracks Bloomberg Euro Aggregate Treasury, while EMXC.DE tracks MSCI EM NR USD. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.07% for EUNH.DE and 0.15% for EMXC.DE.
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