EUNL.DE vs. VUAA.DE
EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) and VUAA.DE (Vanguard S&P 500 UCITS USD Acc ETF) are both exchange-traded funds - EUNL.DE is a Global Equities fund tracking the MSCI World Index, while VUAA.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, EUNL.DE returned 12.47%/yr vs 14.30%/yr for VUAA.DE. With a 0.97 correlation, they move nearly in lockstep. EUNL.DE charges 0.20%/yr vs 0.07%/yr for VUAA.DE.
Performance
EUNL.DE vs. VUAA.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with EUNL.DE having a 9.95% return and VUAA.DE slightly higher at 9.96%.
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%
VUAA.DE
- 1D
- 1.54%
- 1M
- 0.58%
- YTD
- 9.96%
- 6M
- 10.78%
- 1Y
- 24.90%
- 3Y*
- 18.05%
- 5Y*
- 14.30%
- 10Y*
- —
EUNL.DE vs. VUAA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 9.95% | 7.91% | 25.93% | 20.12% | -13.59% | 32.72% | 4.70% |
VUAA.DE Vanguard S&P 500 UCITS USD Acc ETF | 9.96% | 4.69% | 32.69% | 22.51% | -14.29% | 40.75% | 5.89% |
Correlation
The correlation between EUNL.DE and VUAA.DE is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2020 | 0.97 |
The correlation between EUNL.DE and VUAA.DE has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
EUNL.DE vs. VUAA.DE — Risk / Return Rank
EUNL.DE
VUAA.DE
EUNL.DE vs. VUAA.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 Vanguard S&P 500 UCITS USD Acc ETF (VUAA.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 | VUAA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.39 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.74 | 3.48 | +0.26 |
| Martin ratioReturn relative to average drawdown | 15.11 | 12.44 | +2.66 |
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Drawdowns
EUNL.DE vs. VUAA.DE - Drawdown Comparison
The maximum EUNL.DE drawdown since its inception was -33.63%, roughly equal to the maximum VUAA.DE drawdown of -33.67%. Use the drawdown chart below to compare losses from any high point for EUNL.DE and VUAA.DE.
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Drawdown Indicators
| EUNL.DE | VUAA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.63% | -33.67% | +0.04% |
Max Drawdown (1Y)Largest decline over 1 year | -6.22% | -7.00% | +0.78% |
Max Drawdown (3Y)Largest decline over 3 years | -21.73% | -23.33% | +1.60% |
Max Drawdown (5Y)Largest decline over 5 years | -21.73% | -23.33% | +1.60% |
Max Drawdown (10Y)Largest decline over 10 years | -33.63% | — | — |
Current DrawdownCurrent decline from peak | -1.13% | -1.74% | +0.61% |
Average DrawdownAverage peak-to-trough decline | -4.22% | -4.88% | +0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 1.96% | -0.42% |
Volatility
EUNL.DE vs. VUAA.DE - Volatility Comparison
iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) and Vanguard S&P 500 UCITS USD Acc ETF (VUAA.DE) have volatilities of 3.08% and 3.07%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUNL.DE | VUAA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.08% | 3.07% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 7.98% | 7.81% | +0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.31% | 11.73% | -0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.18% | 15.14% | -0.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.16% | 17.61% | -2.45% |
EUNL.DE vs. VUAA.DE - Expense Ratio Comparison
EUNL.DE has a 0.20% expense ratio, which is higher than VUAA.DE'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. VUAA.DE - Dividend Comparison
Neither EUNL.DE nor VUAA.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VUAA.DE Vanguard S&P 500 UCITS USD Acc ETF | 0.00% | 0.00% | 0.27% | 0.00% | 0.00% | 0.00% | 1.09% |
Frequently Asked Questions
With a correlation of 0.96, EUNL.DE and VUAA.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, VUAA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUAA.DE is cheaper with a 0.07% expense ratio, compared with 0.20% for EUNL.DE.
EUNL.DE is categorized as Global Equities, while VUAA.DE is S&P 500. EUNL.DE tracks MSCI World Index, while VUAA.DE tracks S&P 500 Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.20% for EUNL.DE and 0.07% for VUAA.DE.
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