EUNL.DE vs. EUNM.DE
EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) and EUNM.DE (iShares MSCI EM UCITS ETF (Acc)) are both exchange-traded funds - EUNL.DE is a Global Equities fund tracking the MSCI World Index, while EUNM.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets. Both are passively managed. Over the past 10 years, EUNL.DE returned 12.99%/yr vs 10.07%/yr for EUNM.DE. A 0.72 correlation means they provide meaningful diversification when combined. EUNL.DE charges 0.20%/yr vs 0.18%/yr for EUNM.DE.
Performance
EUNL.DE vs. EUNM.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EUNL.DE achieves a 9.95% return, which is significantly lower than EUNM.DE's 26.16% return. Over the past 10 years, EUNL.DE has outperformed EUNM.DE with an annualized return of 12.99%, while EUNM.DE has yielded a comparatively lower 10.07% annualized return.
EUNL.DE
- 1D
- 1.66%
- 1M
- 2.05%
- YTD
- 9.95%
- 6M
- 11.17%
- 1Y
- 23.39%
- 3Y*
- 16.77%
- 5Y*
- 12.47%
- 10Y*
- 12.99%
EUNM.DE
- 1D
- 3.17%
- 1M
- 2.53%
- YTD
- 26.16%
- 6M
- 28.73%
- 1Y
- 46.27%
- 3Y*
- 19.51%
- 5Y*
- 8.28%
- 10Y*
- 10.07%
EUNL.DE vs. EUNM.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) | 9.95% | 7.91% | 25.93% | 20.12% | -13.59% | 32.72% | 5.48% | 31.35% | -5.13% | 7.71% |
EUNM.DE iShares MSCI EM UCITS ETF (Acc) | 26.16% | 19.20% | 14.09% | 5.71% | -14.48% | 4.68% | 6.81% | 20.92% | -10.84% | 19.89% |
Correlation
The correlation between EUNL.DE and EUNM.DE is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Oct 20, 2009 | 0.72 |
The correlation between EUNL.DE and EUNM.DE has been stable across timeframes, ranging from 0.63 to 0.72 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EUNL.DE vs. EUNM.DE — Risk / Return Rank
EUNL.DE
EUNM.DE
EUNL.DE vs. EUNM.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 MSCI EM UCITS ETF (Acc) (EUNM.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.
| EUNL.DE | EUNM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.46 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.74 | 4.40 | -0.65 |
| Martin ratioReturn relative to average drawdown | 15.11 | 15.27 | -0.17 |
Loading charts...
Drawdowns
EUNL.DE vs. EUNM.DE - Drawdown Comparison
The maximum EUNL.DE drawdown since its inception was -33.63%, smaller than the maximum EUNM.DE drawdown of -35.91%. Use the drawdown chart below to compare losses from any high point for EUNL.DE and EUNM.DE.
Loading charts...
Drawdown Indicators
| EUNL.DE | EUNM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.63% | -35.91% | +2.28% |
Max Drawdown (1Y)Largest decline over 1 year | -6.22% | -10.47% | +4.25% |
Max Drawdown (3Y)Largest decline over 3 years | -21.73% | -19.02% | -2.71% |
Max Drawdown (5Y)Largest decline over 5 years | -21.73% | -23.61% | +1.88% |
Max Drawdown (10Y)Largest decline over 10 years | -33.63% | -31.88% | -1.75% |
Current DrawdownCurrent decline from peak | -1.13% | -3.40% | +2.27% |
Average DrawdownAverage peak-to-trough decline | -4.22% | -10.51% | +6.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 3.02% | -1.48% |
Volatility
EUNL.DE vs. EUNM.DE - Volatility Comparison
The current volatility for iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) is 3.08%, while iShares MSCI EM UCITS ETF (Acc) (EUNM.DE) has a volatility of 7.44%. This indicates that EUNL.DE experiences smaller price fluctuations and is considered to be less risky than EUNM.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EUNL.DE | EUNM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.08% | 7.44% | -4.36% |
Volatility (6M)Calculated over the trailing 6-month period | 7.98% | 15.75% | -7.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.31% | 18.43% | -7.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.18% | 16.83% | -2.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.16% | 18.22% | -3.06% |
EUNL.DE vs. EUNM.DE - Expense Ratio Comparison
EUNL.DE has a 0.20% expense ratio, which is higher than EUNM.DE's 0.18% 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. EUNM.DE - Dividend Comparison
Neither EUNL.DE nor EUNM.DE has paid dividends to shareholders.
Frequently Asked Questions
EUNL.DE and EUNM.DE have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNM.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNM.DE is cheaper with a 0.18% expense ratio, compared with 0.20% for EUNL.DE.
EUNL.DE is categorized as Global Equities, while EUNM.DE is Emerging Markets Equities. EUNL.DE tracks MSCI World Index, while EUNM.DE tracks MSCI Emerging Markets. Their fees differ too: 0.20% for EUNL.DE and 0.18% for EUNM.DE.
Find the right allocation for EUNL.DE and EUNM.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer