EUNH.DE vs. XZEB.DE
EUNH.DE (iShares Core Euro Government Bond UCITS ETF (Dist)) and XZEB.DE (Xtrackers II ESG Eurozone Government Bond UCITS ETF) are both European Government Bonds funds - EUNH.DE tracks the Bloomberg Euro Aggregate Treasury while XZEB.DE tracks the FTSE ESG Select EMU Government Bond. Both are passively managed. Over the past 3 years, EUNH.DE returned 2.35%/yr vs 1.37%/yr for XZEB.DE. With a 0.97 correlation, they move nearly in lockstep. EUNH.DE charges 0.07%/yr vs 0.15%/yr for XZEB.DE.
Performance
EUNH.DE vs. XZEB.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 XZEB.DE's 0.20% 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%
XZEB.DE
- 1D
- 0.07%
- 1M
- -0.04%
- YTD
- 0.20%
- 6M
- 0.18%
- 1Y
- -0.32%
- 3Y*
- 1.37%
- 5Y*
- —
- 10Y*
- —
EUNH.DE vs. XZEB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EUNH.DE iShares Core Euro Government Bond UCITS ETF (Dist) | -0.06% | 0.80% | 1.52% | 6.83% | -6.99% |
XZEB.DE Xtrackers II ESG Eurozone Government Bond UCITS ETF | 0.20% | -0.59% | 0.01% | 5.77% | -7.62% |
Correlation
The correlation between EUNH.DE and XZEB.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 | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2022 | 0.97 |
The correlation between EUNH.DE and XZEB.DE has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
EUNH.DE vs. XZEB.DE — Risk / Return Rank
EUNH.DE
XZEB.DE
EUNH.DE vs. XZEB.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 Xtrackers II ESG Eurozone Government Bond UCITS ETF (XZEB.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 | XZEB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 0.97 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | -0.24 | +0.21 |
| Martin ratioReturn relative to average drawdown | -0.08 | -0.53 | +0.45 |
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 | XZEB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.02 | -0.17 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.35 | — | — |
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 | -0.11 | +0.36 |
Drawdowns
EUNH.DE vs. XZEB.DE - Drawdown Comparison
The maximum EUNH.DE drawdown since its inception was -22.43%, which is greater than XZEB.DE's maximum drawdown of -13.98%. Use the drawdown chart below to compare losses from any high point for EUNH.DE and XZEB.DE.
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Drawdown Indicators
| EUNH.DE | XZEB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.43% | -13.98% | -8.45% |
Max Drawdown (1Y)Largest decline over 1 year | -3.48% | -2.97% | -0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -4.10% | -4.45% | +0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -21.53% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -22.43% | — | — |
Current DrawdownCurrent decline from peak | -14.10% | -7.28% | -6.82% |
Average DrawdownAverage peak-to-trough decline | -5.97% | -8.40% | +2.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.35% | 1.33% | +0.02% |
Volatility
EUNH.DE vs. XZEB.DE - Volatility Comparison
iShares Core Euro Government Bond UCITS ETF (Dist) (EUNH.DE) has a higher volatility of 1.72% compared to Xtrackers II ESG Eurozone Government Bond UCITS ETF (XZEB.DE) at 1.57%. This indicates that EUNH.DE's price experiences larger fluctuations and is considered to be riskier than XZEB.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 | XZEB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.72% | 1.57% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 3.70% | 3.45% | +0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.37% | 4.14% | +0.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.34% | 6.32% | +0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.52% | 6.32% | -0.80% |
EUNH.DE vs. XZEB.DE - Expense Ratio Comparison
EUNH.DE has a 0.07% expense ratio, which is lower than XZEB.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. XZEB.DE - Dividend Comparison
EUNH.DE's dividend yield for the trailing twelve months is around 2.49%, while XZEB.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% |
XZEB.DE Xtrackers II ESG Eurozone Government Bond UCITS ETF | 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 XZEB.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.
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 XZEB.DE.
EUNH.DE tracks Bloomberg Euro Aggregate Treasury, while XZEB.DE tracks FTSE ESG Select EMU Government Bond. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.07% for EUNH.DE and 0.15% for XZEB.DE.
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