EUNL.DE vs. DBZB.DE
EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) and DBZB.DE (Xtrackers II Global Government Bond UCITS ETF EUR Hedged) are both exchange-traded funds - EUNL.DE is a Global Equities fund tracking the MSCI World Index, while DBZB.DE is a Global Bonds fund tracking the FTSE World Government Bond - Developed Markets (EUR Hedged). Both are passively managed. Over the past 10 years, EUNL.DE returned 12.82%/yr vs -0.99%/yr for DBZB.DE. At a correlation of -0.13, they often move in opposite directions. EUNL.DE charges 0.20%/yr vs 0.25%/yr for DBZB.DE.
Performance
EUNL.DE vs. DBZB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EUNL.DE achieves a 10.86% return, which is significantly higher than DBZB.DE's -0.71% return. Over the past 10 years, EUNL.DE has outperformed DBZB.DE with an annualized return of 12.82%, while DBZB.DE has yielded a comparatively lower -0.99% annualized return.
EUNL.DE
- 1D
- 0.02%
- 1M
- 3.65%
- YTD
- 10.86%
- 6M
- 10.91%
- 1Y
- 23.29%
- 3Y*
- 17.55%
- 5Y*
- 12.89%
- 10Y*
- 12.82%
DBZB.DE
- 1D
- 0.15%
- 1M
- -0.18%
- YTD
- -0.71%
- 6M
- -0.56%
- 1Y
- 0.09%
- 3Y*
- 0.76%
- 5Y*
- -2.54%
- 10Y*
- -0.99%
EUNL.DE vs. DBZB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 10.86% | 7.90% | 25.93% | 20.13% | -13.59% | 32.71% | 5.48% | 31.34% | -5.13% | 7.71% |
DBZB.DE Xtrackers II Global Government Bond UCITS ETF EUR Hedged | -0.71% | 1.28% | -0.41% | 3.56% | -15.11% | -3.19% | 4.16% | 4.55% | -0.36% | -0.12% |
Correlation
The correlation between EUNL.DE and DBZB.DE is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Oct 21, 2009 | -0.13 |
The correlation between EUNL.DE and DBZB.DE shifts across timeframes, from -0.13 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EUNL.DE vs. DBZB.DE — Risk / Return Rank
EUNL.DE
DBZB.DE
EUNL.DE vs. DBZB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) and Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.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.
| EUNL.DE | DBZB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.14 | ||
| Sortino ratioReturn per unit of downside risk | +2.97 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.00 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 3.64 | -0.01 | +3.66 |
| Martin ratioReturn relative to average drawdown | 14.52 | -0.04 | +14.56 |
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
| EUNL.DE | DBZB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.12 | -0.01 | +2.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | -0.47 | +1.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.84 | -0.21 | +1.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.22 | +0.60 |
Drawdowns
EUNL.DE vs. DBZB.DE - Drawdown Comparison
The maximum EUNL.DE drawdown since its inception was -33.63%, which is greater than DBZB.DE's maximum drawdown of -21.88%. Use the drawdown chart below to compare losses from any high point for EUNL.DE and DBZB.DE.
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Drawdown Indicators
| EUNL.DE | DBZB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.63% | -21.88% | -11.75% |
Max Drawdown (1Y)Largest decline over 1 year | -6.50% | -3.52% | -2.98% |
Max Drawdown (3Y)Largest decline over 3 years | -21.73% | -5.14% | -16.59% |
Max Drawdown (5Y)Largest decline over 5 years | -21.73% | -19.51% | -2.22% |
Max Drawdown (10Y)Largest decline over 10 years | -33.63% | -21.88% | -11.75% |
Current DrawdownCurrent decline from peak | -0.31% | -16.44% | +16.13% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -5.97% | +1.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.64% | 1.26% | +0.38% |
Volatility
EUNL.DE vs. DBZB.DE - Volatility Comparison
iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) has a higher volatility of 2.62% compared to Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.DE) at 1.48%. This indicates that EUNL.DE's price experiences larger fluctuations and is considered to be riskier than DBZB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUNL.DE | DBZB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.62% | 1.48% | +1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 7.72% | 3.06% | +4.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.16% | 3.86% | +7.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.17% | 5.37% | +8.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.17% | 4.74% | +10.43% |
EUNL.DE vs. DBZB.DE - Expense Ratio Comparison
EUNL.DE has a 0.20% expense ratio, which is lower than DBZB.DE's 0.25% 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
EUNL.DE vs. DBZB.DE - Dividend Comparison
Neither EUNL.DE nor DBZB.DE has paid dividends to shareholders.
Frequently Asked Questions
EUNL.DE and DBZB.DE have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNL.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNL.DE is cheaper with a 0.20% expense ratio, compared with 0.25% for DBZB.DE.
EUNL.DE is categorized as Global Equities, while DBZB.DE is Global Bonds. EUNL.DE tracks MSCI World Index, while DBZB.DE tracks FTSE World Government Bond - Developed Markets (EUR Hedged). They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.20% for EUNL.DE and 0.25% for DBZB.DE.
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