EUNL.DE vs. IBCD.DE
EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) and IBCD.DE (iShares USD Corporate Bond UCITS ETF (Dist)) are both exchange-traded funds - EUNL.DE is a Global Equities fund tracking the MSCI World Index, while IBCD.DE is a Corporate Bonds fund tracking the iBoxx® USD Liquid Investment Grade. Both are passively managed. Over the past 10 years, EUNL.DE returned 12.99%/yr vs 2.16%/yr for IBCD.DE. At a 0.21 correlation, their price movements are largely independent. Both charge a 0.20% expense ratio.
Performance
EUNL.DE vs. IBCD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EUNL.DE achieves a 9.95% return, which is significantly higher than IBCD.DE's 1.91% return. Over the past 10 years, EUNL.DE has outperformed IBCD.DE with an annualized return of 12.99%, while IBCD.DE has yielded a comparatively lower 2.16% annualized return.
EUNL.DE
- 1D
- 1.66%
- 1M
- 1.52%
- YTD
- 9.95%
- 6M
- 11.17%
- 1Y
- 23.88%
- 3Y*
- 16.77%
- 5Y*
- 12.47%
- 10Y*
- 12.99%
IBCD.DE
- 1D
- -0.20%
- 1M
- 1.69%
- YTD
- 1.91%
- 6M
- 2.58%
- 1Y
- 5.36%
- 3Y*
- 2.67%
- 5Y*
- 0.63%
- 10Y*
- 2.16%
EUNL.DE vs. IBCD.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% |
IBCD.DE iShares USD Corporate Bond UCITS ETF (Dist) | 1.91% | -3.98% | 6.70% | 5.34% | -12.51% | 6.56% | 0.75% | 20.71% | 0.29% | -6.12% |
Correlation
The correlation between EUNL.DE and IBCD.DE is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2009 | 0.21 |
The correlation between EUNL.DE and IBCD.DE shifts across timeframes, from 0.21 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EUNL.DE vs. IBCD.DE — Risk / Return Rank
EUNL.DE
IBCD.DE
EUNL.DE vs. IBCD.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 USD Corporate Bond UCITS ETF (Dist) (IBCD.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 | IBCD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.24 | ||
| Sortino ratioReturn per unit of downside risk | +1.64 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.15 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 3.74 | 1.38 | +2.36 |
| Martin ratioReturn relative to average drawdown | 15.11 | 3.48 | +11.63 |
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Drawdowns
EUNL.DE vs. IBCD.DE - Drawdown Comparison
The maximum EUNL.DE drawdown since its inception was -33.63%, roughly equal to the maximum IBCD.DE drawdown of -32.43%. Use the drawdown chart below to compare losses from any high point for EUNL.DE and IBCD.DE.
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Drawdown Indicators
| EUNL.DE | IBCD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.63% | -32.43% | -1.20% |
Max Drawdown (1Y)Largest decline over 1 year | -6.22% | -3.76% | -2.46% |
Max Drawdown (3Y)Largest decline over 3 years | -21.73% | -12.27% | -9.46% |
Max Drawdown (5Y)Largest decline over 5 years | -21.73% | -16.71% | -5.02% |
Max Drawdown (10Y)Largest decline over 10 years | -33.63% | -17.43% | -16.20% |
Current DrawdownCurrent decline from peak | -1.13% | -5.45% | +4.32% |
Average DrawdownAverage peak-to-trough decline | -4.22% | -7.01% | +2.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 1.50% | +0.04% |
Volatility
EUNL.DE vs. IBCD.DE - Volatility Comparison
iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) has a higher volatility of 3.08% compared to iShares USD Corporate Bond UCITS ETF (Dist) (IBCD.DE) at 1.23%. This indicates that EUNL.DE's price experiences larger fluctuations and is considered to be riskier than IBCD.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 | IBCD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.08% | 1.23% | +1.85% |
Volatility (6M)Calculated over the trailing 6-month period | 7.98% | 4.30% | +3.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.31% | 6.30% | +5.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.18% | 9.19% | +4.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.16% | 9.06% | +6.10% |
EUNL.DE vs. IBCD.DE - Expense Ratio Comparison
Both EUNL.DE and IBCD.DE have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
EUNL.DE vs. IBCD.DE - Dividend Comparison
EUNL.DE has not paid dividends to shareholders, while IBCD.DE's dividend yield for the trailing twelve months is around 3.70%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IBCD.DE iShares USD Corporate Bond UCITS ETF (Dist) | 3.70% | 5.03% | 4.88% | 4.69% | 3.79% | 2.60% | 2.96% | 3.43% | 3.61% | 3.43% | 3.26% | 3.32% |
Frequently Asked Questions
EUNL.DE and IBCD.DE have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
EUNL.DE and IBCD.DE have the same expense ratio: 0.20% per year.
EUNL.DE is categorized as Global Equities, while IBCD.DE is Corporate Bonds. EUNL.DE tracks MSCI World Index, while IBCD.DE tracks iBoxx® USD Liquid Investment Grade.
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