EUNH.DE vs. VGEA.DE
EUNH.DE (iShares Core Euro Government Bond UCITS ETF (Dist)) and VGEA.DE (Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating) are both European Government Bonds funds tracking the Bloomberg Euro Aggregate Treasury, from iShares and Vanguard respectively. Both are passively managed. Over the past 5 years, EUNH.DE returned -2.27%/yr vs -2.24%/yr for VGEA.DE. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.07% expense ratio.
Performance
EUNH.DE vs. VGEA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EUNH.DE achieves a -0.06% return, which is significantly lower than VGEA.DE's 0.11% return.
EUNH.DE
- 1D
- 0.04%
- 1M
- -0.08%
- YTD
- -0.06%
- 6M
- 0.09%
- 1Y
- 0.30%
- 3Y*
- 2.35%
- 5Y*
- -2.27%
- 10Y*
- -0.32%
VGEA.DE
- 1D
- 0.06%
- 1M
- -0.02%
- YTD
- 0.11%
- 6M
- 0.18%
- 1Y
- 0.33%
- 3Y*
- 2.38%
- 5Y*
- -2.24%
- 10Y*
- —
EUNH.DE vs. VGEA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EUNH.DE iShares Core Euro Government Bond UCITS ETF (Dist) | -0.06% | 0.80% | 1.52% | 6.83% | -18.32% | -3.37% | 4.72% | 5.86% |
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | 0.11% | 0.67% | 1.54% | 6.93% | -18.30% | -3.32% | 4.81% | 5.94% |
Correlation
The correlation between EUNH.DE and VGEA.DE is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2019 | 0.91 |
The correlation between EUNH.DE and VGEA.DE has been stable across timeframes, ranging from 0.91 to 0.97 - a consistent structural relationship.
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Return for Risk
EUNH.DE vs. VGEA.DE — Risk / Return Rank
EUNH.DE
VGEA.DE
EUNH.DE vs. VGEA.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 Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.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.
| EUNH.DE | VGEA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.00 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | -0.01 | -0.02 |
| Martin ratioReturn relative to average drawdown | -0.08 | -0.04 | -0.04 |
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
| EUNH.DE | VGEA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.02 | -0.01 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.35 | -0.35 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.06 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | -0.10 | +0.35 |
Drawdowns
EUNH.DE vs. VGEA.DE - Drawdown Comparison
The maximum EUNH.DE drawdown since its inception was -22.43%, roughly equal to the maximum VGEA.DE drawdown of -22.34%. Use the drawdown chart below to compare losses from any high point for EUNH.DE and VGEA.DE.
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Drawdown Indicators
| EUNH.DE | VGEA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.43% | -22.34% | -0.09% |
Max Drawdown (1Y)Largest decline over 1 year | -3.48% | -3.44% | -0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -4.10% | -4.00% | -0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -21.53% | -21.47% | -0.06% |
Max Drawdown (10Y)Largest decline over 10 years | -22.43% | — | — |
Current DrawdownCurrent decline from peak | -14.10% | -13.91% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -5.97% | -10.30% | +4.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.35% | 1.33% | +0.02% |
Volatility
EUNH.DE vs. VGEA.DE - Volatility Comparison
iShares Core Euro Government Bond UCITS ETF (Dist) (EUNH.DE) and Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VGEA.DE) have volatilities of 1.72% and 1.67%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUNH.DE | VGEA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.72% | 1.67% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 3.70% | 3.62% | +0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.37% | 4.33% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.34% | 6.39% | -0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.52% | 5.86% | -0.34% |
EUNH.DE vs. VGEA.DE - Expense Ratio Comparison
Both EUNH.DE and VGEA.DE have an expense ratio of 0.07%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
EUNH.DE vs. VGEA.DE - Dividend Comparison
EUNH.DE's dividend yield for the trailing twelve months is around 2.49%, while VGEA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUNH.DE iShares Core Euro Government Bond UCITS ETF (Dist) | 2.49% | 2.30% | 1.77% | 0.97% | 0.27% | 0.24% | 0.47% | 0.65% | 0.66% | 0.70% | 0.94% | 0.62% |
VGEA.DE Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | 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
With a correlation of 0.96, EUNH.DE and VGEA.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.07% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
EUNH.DE and VGEA.DE have the same expense ratio: 0.07% per year.
Both ETFs track Bloomberg Euro Aggregate Treasury. They also come from different issuers: iShares and Vanguard.
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