EUNL.DE vs. EUNK.DE
EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) and EUNK.DE (iShares Core MSCI Europe UCITS ETF EUR (Acc)) are both exchange-traded funds - EUNL.DE is a Global Equities fund tracking the MSCI World Index, while EUNK.DE is a Europe Equities fund tracking the MSCI Europe. Both are passively managed. Over the past 10 years, EUNL.DE returned 12.82%/yr vs 9.16%/yr for EUNK.DE. Their correlation of 0.81 suggests significant overlap in exposure. EUNL.DE charges 0.20%/yr vs 0.12%/yr for EUNK.DE.
Performance
EUNL.DE vs. EUNK.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 EUNK.DE's 7.32% return. Over the past 10 years, EUNL.DE has outperformed EUNK.DE with an annualized return of 12.82%, while EUNK.DE has yielded a comparatively lower 9.16% annualized return.
EUNL.DE
- 1D
- 0.02%
- 1M
- 4.80%
- YTD
- 10.86%
- 6M
- 11.29%
- 1Y
- 23.80%
- 3Y*
- 17.55%
- 5Y*
- 12.89%
- 10Y*
- 12.82%
EUNK.DE
- 1D
- 0.60%
- 1M
- 1.11%
- YTD
- 7.32%
- 6M
- 9.84%
- 1Y
- 15.90%
- 3Y*
- 13.70%
- 5Y*
- 9.96%
- 10Y*
- 9.16%
EUNL.DE vs. EUNK.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% |
EUNK.DE iShares Core MSCI Europe UCITS ETF EUR (Acc) | 7.32% | 20.34% | 8.22% | 15.78% | -9.07% | 24.95% | -3.14% | 27.85% | -10.93% | 10.51% |
Correlation
The correlation between EUNL.DE and EUNK.DE is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Oct 21, 2009 | 0.81 |
The correlation between EUNL.DE and EUNK.DE has been stable across timeframes, ranging from 0.72 to 0.82 - a consistent structural relationship.
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Return for Risk
EUNL.DE vs. EUNK.DE — Risk / Return Rank
EUNL.DE
EUNK.DE
EUNL.DE vs. EUNK.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 iShares Core MSCI Europe UCITS ETF EUR (Acc) (EUNK.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 | EUNK.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.24 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.64 | 1.69 | +1.96 |
| Martin ratioReturn relative to average drawdown | 14.52 | 6.26 | +8.26 |
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 | EUNK.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.12 | 1.25 | +0.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | 0.69 | +0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.84 | 0.59 | +0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.52 | +0.30 |
Drawdowns
EUNL.DE vs. EUNK.DE - Drawdown Comparison
The maximum EUNL.DE drawdown since its inception was -33.63%, smaller than the maximum EUNK.DE drawdown of -35.45%. Use the drawdown chart below to compare losses from any high point for EUNL.DE and EUNK.DE.
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Drawdown Indicators
| EUNL.DE | EUNK.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.63% | -35.45% | +1.82% |
Max Drawdown (1Y)Largest decline over 1 year | -6.50% | -9.52% | +3.02% |
Max Drawdown (3Y)Largest decline over 3 years | -21.73% | -16.58% | -5.15% |
Max Drawdown (5Y)Largest decline over 5 years | -21.73% | -19.45% | -2.28% |
Max Drawdown (10Y)Largest decline over 10 years | -33.63% | -35.45% | +1.82% |
Current DrawdownCurrent decline from peak | -0.31% | -1.68% | +1.37% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -5.31% | +1.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.64% | 2.57% | -0.93% |
Volatility
EUNL.DE vs. EUNK.DE - Volatility Comparison
The current volatility for iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) is 2.62%, while iShares Core MSCI Europe UCITS ETF EUR (Acc) (EUNK.DE) has a volatility of 4.33%. This indicates that EUNL.DE experiences smaller price fluctuations and is considered to be less risky than EUNK.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 | EUNK.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.62% | 4.33% | -1.71% |
Volatility (6M)Calculated over the trailing 6-month period | 7.72% | 10.59% | -2.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.16% | 12.85% | -1.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.17% | 14.20% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.17% | 15.49% | -0.32% |
EUNL.DE vs. EUNK.DE - Expense Ratio Comparison
EUNL.DE has a 0.20% expense ratio, which is higher than EUNK.DE's 0.12% expense ratio. However, 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. EUNK.DE - Dividend Comparison
Neither EUNL.DE nor EUNK.DE has paid dividends to shareholders.
Frequently Asked Questions
EUNL.DE and EUNK.DE have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNK.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNK.DE is cheaper with a 0.12% expense ratio, compared with 0.20% for EUNL.DE.
EUNL.DE is categorized as Global Equities, while EUNK.DE is Europe Equities. EUNL.DE tracks MSCI World Index, while EUNK.DE tracks MSCI Europe. Their fees differ too: 0.20% for EUNL.DE and 0.12% for EUNK.DE.
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