EUNL.DE vs. SPYY.DE
EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) and SPYY.DE (SPDR MSCI ACWI UCITS ETF) are both Global Equities funds - EUNL.DE tracks the MSCI World Index while SPYY.DE tracks the MSCI All Country World (ACWI). Both are passively managed. Over the past 10 years, EUNL.DE returned 12.82%/yr vs 12.40%/yr for SPYY.DE. Their correlation of 0.87 suggests significant overlap in exposure. EUNL.DE charges 0.20%/yr vs 0.40%/yr for SPYY.DE.
Performance
EUNL.DE vs. SPYY.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 lower than SPYY.DE's 12.54% return. Both investments have delivered pretty close results over the past 10 years, with EUNL.DE having a 12.82% annualized return and SPYY.DE not far behind at 12.40%.
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%
SPYY.DE
- 1D
- -0.21%
- 1M
- 3.63%
- YTD
- 12.54%
- 6M
- 12.75%
- 1Y
- 26.58%
- 3Y*
- 17.99%
- 5Y*
- 12.35%
- 10Y*
- 12.40%
EUNL.DE vs. SPYY.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% |
SPYY.DE SPDR MSCI ACWI UCITS ETF | 12.54% | 9.46% | 24.56% | 18.22% | -13.82% | 29.11% | 5.12% | 30.21% | -6.02% | 8.80% |
Correlation
The correlation between EUNL.DE and SPYY.DE is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2011 | 0.87 |
The correlation between EUNL.DE and SPYY.DE shifts across timeframes, from 0.87 (all time) to 0.99 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EUNL.DE vs. SPYY.DE — Risk / Return Rank
EUNL.DE
SPYY.DE
EUNL.DE vs. SPYY.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 SPDR MSCI ACWI UCITS ETF (SPYY.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 | SPYY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.44 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.64 | 4.10 | -0.46 |
| Martin ratioReturn relative to average drawdown | 14.52 | 16.60 | -2.09 |
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 | SPYY.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.12 | 2.32 | -0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | 0.88 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.84 | 0.82 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.83 | -0.01 |
Drawdowns
EUNL.DE vs. SPYY.DE - Drawdown Comparison
The maximum EUNL.DE drawdown since its inception was -33.63%, roughly equal to the maximum SPYY.DE drawdown of -33.49%. Use the drawdown chart below to compare losses from any high point for EUNL.DE and SPYY.DE.
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Drawdown Indicators
| EUNL.DE | SPYY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.63% | -33.49% | -0.14% |
Max Drawdown (1Y)Largest decline over 1 year | -6.50% | -6.49% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -21.73% | -21.27% | -0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -21.73% | -21.27% | -0.46% |
Max Drawdown (10Y)Largest decline over 10 years | -33.63% | -33.49% | -0.14% |
Current DrawdownCurrent decline from peak | -0.31% | -0.61% | +0.30% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -4.39% | +0.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.64% | 1.61% | +0.03% |
Volatility
EUNL.DE vs. SPYY.DE - Volatility Comparison
The current volatility for iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) is 2.62%, while SPDR MSCI ACWI UCITS ETF (SPYY.DE) has a volatility of 3.05%. This indicates that EUNL.DE experiences smaller price fluctuations and is considered to be less risky than SPYY.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 | SPYY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.62% | 3.05% | -0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 7.72% | 8.21% | -0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.16% | 11.47% | -0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.17% | 13.90% | +0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.17% | 15.07% | +0.10% |
EUNL.DE vs. SPYY.DE - Expense Ratio Comparison
EUNL.DE has a 0.20% expense ratio, which is lower than SPYY.DE's 0.40% expense ratio.
Dividends
EUNL.DE vs. SPYY.DE - Dividend Comparison
Neither EUNL.DE nor SPYY.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, EUNL.DE and SPYY.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, EUNL.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNL.DE is cheaper with a 0.20% expense ratio, compared with 0.40% for SPYY.DE.
EUNL.DE tracks MSCI World Index, while SPYY.DE tracks MSCI All Country World (ACWI). They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for EUNL.DE and 0.40% for SPYY.DE.
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