EUNL.DE vs. IBTU.L
EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) and IBTU.L (iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist)) are both exchange-traded funds - EUNL.DE is a Global Equities fund tracking the MSCI World Index, while IBTU.L is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 5 years, EUNL.DE returned 12.47%/yr vs 4.32%/yr for IBTU.L. At a 0.09 correlation, their price movements are largely independent. EUNL.DE charges 0.20%/yr vs 0.07%/yr for IBTU.L.
Performance
EUNL.DE vs. IBTU.L - Performance Comparison
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Different Trading Currencies
EUNL.DE is traded in EUR, while IBTU.L is traded in USD. To make them comparable, the IBTU.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, EUNL.DE achieves a 9.95% return, which is significantly higher than IBTU.L's 2.91% 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%
IBTU.L
- 1D
- 0.08%
- 1M
- 1.47%
- YTD
- 2.91%
- 6M
- 3.27%
- 1Y
- 4.11%
- 3Y*
- 2.29%
- 5Y*
- 4.32%
- 10Y*
- —
EUNL.DE vs. IBTU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 9.95% | 7.91% | 25.93% | 20.12% | -13.59% | 32.72% | 5.48% | 17.57% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 2.91% | -8.05% | 12.26% | 1.77% | 7.31% | 7.58% | -7.43% | 3.17% |
Correlation
The correlation between EUNL.DE and IBTU.L is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2019 | 0.09 |
The correlation between EUNL.DE and IBTU.L shifts across timeframes, from 0.07 (5 years) to 0.19 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
EUNL.DE vs. IBTU.L — Risk / Return Rank
EUNL.DE
IBTU.L
EUNL.DE vs. IBTU.L - 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 Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L). 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 | IBTU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.42 | ||
| Sortino ratioReturn per unit of downside risk | +1.93 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.12 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 3.74 | 1.11 | +2.63 |
| Martin ratioReturn relative to average drawdown | 15.11 | 2.58 | +12.52 |
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Drawdowns
EUNL.DE vs. IBTU.L - Drawdown Comparison
The maximum EUNL.DE drawdown since its inception was -33.63%, which is greater than IBTU.L's maximum drawdown of -13.35%. Use the drawdown chart below to compare losses from any high point for EUNL.DE and IBTU.L.
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Drawdown Indicators
| EUNL.DE | IBTU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.63% | -13.35% | -20.28% |
Max Drawdown (1Y)Largest decline over 1 year | -6.22% | -3.69% | -2.53% |
Max Drawdown (3Y)Largest decline over 3 years | -21.73% | -11.54% | -10.19% |
Max Drawdown (5Y)Largest decline over 5 years | -21.73% | -11.84% | -9.89% |
Max Drawdown (10Y)Largest decline over 10 years | -33.63% | — | — |
Current DrawdownCurrent decline from peak | -1.13% | -6.38% | +5.25% |
Average DrawdownAverage peak-to-trough decline | -4.22% | -5.82% | +1.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 1.59% | -0.05% |
Volatility
EUNL.DE vs. IBTU.L - Volatility Comparison
iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) has a higher volatility of 3.08% compared to iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) at 1.27%. This indicates that EUNL.DE's price experiences larger fluctuations and is considered to be riskier than IBTU.L 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 | IBTU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.08% | 1.27% | +1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 7.98% | 4.35% | +3.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.31% | 6.35% | +4.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.18% | 7.58% | +6.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.16% | 7.31% | +7.85% |
EUNL.DE vs. IBTU.L - Expense Ratio Comparison
EUNL.DE has a 0.20% expense ratio, which is higher than IBTU.L's 0.07% 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. IBTU.L - Dividend Comparison
EUNL.DE has not paid dividends to shareholders, while IBTU.L's dividend yield for the trailing twelve months is around 4.07%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
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% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.07% | 4.43% | 6.82% | 3.99% | 0.44% | 0.10% | 1.28% | 1.21% |
Frequently Asked Questions
EUNL.DE and IBTU.L have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTU.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTU.L is cheaper with a 0.07% expense ratio, compared with 0.20% for EUNL.DE.
EUNL.DE is categorized as Global Equities, while IBTU.L is Government Bonds. EUNL.DE tracks MSCI World Index, while IBTU.L tracks ICE U.S. Treasury Short Bond Index. Their fees differ too: 0.20% for EUNL.DE and 0.07% for IBTU.L.
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