EUNL.DE vs. PPFB.DE
EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) and PPFB.DE (iShares Physical Gold ETC) are both exchange-traded funds - EUNL.DE is a Global Equities fund tracking the MSCI World Index, while PPFB.DE is a Precious Metals fund tracking the Gold. Both are passively managed. Over the past 3 years, EUNL.DE returned 16.77%/yr vs 28.05%/yr for PPFB.DE. At a 0.07 correlation, their price movements are largely independent. EUNL.DE charges 0.20%/yr vs 0.12%/yr for PPFB.DE.
Performance
EUNL.DE vs. PPFB.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 PPFB.DE's 2.74% 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%
PPFB.DE
- 1D
- 0.61%
- 1M
- -4.00%
- YTD
- 2.74%
- 6M
- 5.47%
- 1Y
- 31.35%
- 3Y*
- 28.05%
- 5Y*
- —
- 10Y*
- —
EUNL.DE vs. PPFB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 9.95% | 7.91% | 25.93% | 20.12% | -13.59% | 11.76% |
PPFB.DE iShares Physical Gold ETC | 2.74% | 49.11% | 34.17% | 9.42% | 7.03% | 2.86% |
Correlation
The correlation between EUNL.DE and PPFB.DE is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2021 | 0.07 |
The correlation between EUNL.DE and PPFB.DE shifts across timeframes, from 0.07 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EUNL.DE vs. PPFB.DE — Risk / Return Rank
EUNL.DE
PPFB.DE
EUNL.DE vs. PPFB.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 Physical Gold ETC (PPFB.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 | PPFB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.26 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.74 | 1.81 | +1.93 |
| Martin ratioReturn relative to average drawdown | 15.11 | 4.60 | +10.51 |
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Drawdowns
EUNL.DE vs. PPFB.DE - Drawdown Comparison
The maximum EUNL.DE drawdown since its inception was -33.63%, which is greater than PPFB.DE's maximum drawdown of -16.60%. Use the drawdown chart below to compare losses from any high point for EUNL.DE and PPFB.DE.
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Drawdown Indicators
| EUNL.DE | PPFB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.63% | -16.60% | -17.03% |
Max Drawdown (1Y)Largest decline over 1 year | -6.22% | -16.60% | +10.38% |
Max Drawdown (3Y)Largest decline over 3 years | -21.73% | -16.60% | -5.13% |
Max Drawdown (5Y)Largest decline over 5 years | -21.73% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.63% | — | — |
Current DrawdownCurrent decline from peak | -1.13% | -15.00% | +13.87% |
Average DrawdownAverage peak-to-trough decline | -4.22% | -4.42% | +0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 6.55% | -5.01% |
Volatility
EUNL.DE vs. PPFB.DE - Volatility Comparison
The current volatility for iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) is 3.08%, while iShares Physical Gold ETC (PPFB.DE) has a volatility of 5.11%. This indicates that EUNL.DE experiences smaller price fluctuations and is considered to be less risky than PPFB.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 | PPFB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.08% | 5.11% | -2.03% |
Volatility (6M)Calculated over the trailing 6-month period | 7.98% | 20.18% | -12.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.31% | 23.12% | -11.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.18% | 16.13% | -1.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.16% | 16.13% | -0.97% |
EUNL.DE vs. PPFB.DE - Expense Ratio Comparison
EUNL.DE has a 0.20% expense ratio, which is higher than PPFB.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. PPFB.DE - Dividend Comparison
Neither EUNL.DE nor PPFB.DE has paid dividends to shareholders.
Frequently Asked Questions
EUNL.DE and PPFB.DE have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PPFB.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PPFB.DE is cheaper with a 0.12% expense ratio, compared with 0.20% for EUNL.DE.
EUNL.DE is categorized as Global Equities, while PPFB.DE is Precious Metals. EUNL.DE tracks MSCI World Index, while PPFB.DE tracks Gold. Their fees differ too: 0.20% for EUNL.DE and 0.12% for PPFB.DE.
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