EUNM.DE vs. EUNL.DE
EUNM.DE (iShares MSCI EM UCITS ETF (Acc)) and EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - EUNM.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets, while EUNL.DE is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 10 years, EUNM.DE returned 9.83%/yr vs 12.82%/yr for EUNL.DE. A 0.72 correlation means they provide meaningful diversification when combined. EUNM.DE charges 0.18%/yr vs 0.20%/yr for EUNL.DE.
Performance
EUNM.DE vs. EUNL.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EUNM.DE achieves a 27.21% return, which is significantly higher than EUNL.DE's 10.86% return. Over the past 10 years, EUNM.DE has underperformed EUNL.DE with an annualized return of 9.83%, while EUNL.DE has yielded a comparatively higher 12.82% annualized return.
EUNM.DE
- 1D
- -1.60%
- 1M
- 3.61%
- YTD
- 27.21%
- 6M
- 27.83%
- 1Y
- 48.65%
- 3Y*
- 20.75%
- 5Y*
- 8.41%
- 10Y*
- 9.83%
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%
EUNM.DE vs. EUNL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUNM.DE iShares MSCI EM UCITS ETF (Acc) | 27.21% | 19.18% | 14.09% | 5.71% | -14.47% | 4.68% | 6.84% | 20.91% | -10.84% | 19.89% |
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% |
Correlation
The correlation between EUNM.DE and EUNL.DE is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Oct 21, 2009 | 0.72 |
The correlation between EUNM.DE and EUNL.DE has been stable across timeframes, ranging from 0.62 to 0.72 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EUNM.DE vs. EUNL.DE — Risk / Return Rank
EUNM.DE
EUNL.DE
EUNM.DE vs. EUNL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM UCITS ETF (Acc) (EUNM.DE) and iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.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.
| EUNM.DE | EUNL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.66 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.40 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 4.72 | 3.64 | +1.08 |
| Martin ratioReturn relative to average drawdown | 17.07 | 14.52 | +2.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| EUNM.DE | EUNL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.78 | 2.12 | +0.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | 0.90 | -0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | 0.84 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.82 | -0.43 |
Drawdowns
EUNM.DE vs. EUNL.DE - Drawdown Comparison
The maximum EUNM.DE drawdown since its inception was -35.91%, which is greater than EUNL.DE's maximum drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for EUNM.DE and EUNL.DE.
Loading charts...
Drawdown Indicators
| EUNM.DE | EUNL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.91% | -33.63% | -2.28% |
Max Drawdown (1Y)Largest decline over 1 year | -10.46% | -6.50% | -3.96% |
Max Drawdown (3Y)Largest decline over 3 years | -19.01% | -21.73% | +2.72% |
Max Drawdown (5Y)Largest decline over 5 years | -23.62% | -21.73% | -1.89% |
Max Drawdown (10Y)Largest decline over 10 years | -31.86% | -33.63% | +1.77% |
Current DrawdownCurrent decline from peak | -2.61% | -0.31% | -2.30% |
Average DrawdownAverage peak-to-trough decline | -10.55% | -4.25% | -6.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 1.64% | +1.26% |
Volatility
EUNM.DE vs. EUNL.DE - Volatility Comparison
iShares MSCI EM UCITS ETF (Acc) (EUNM.DE) has a higher volatility of 7.30% compared to iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) at 2.62%. This indicates that EUNM.DE's price experiences larger fluctuations and is considered to be riskier than EUNL.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EUNM.DE | EUNL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.30% | 2.62% | +4.68% |
Volatility (6M)Calculated over the trailing 6-month period | 14.98% | 7.72% | +7.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.80% | 11.16% | +6.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.70% | 14.17% | +2.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.19% | 15.17% | +3.02% |
EUNM.DE vs. EUNL.DE - Expense Ratio Comparison
EUNM.DE has a 0.18% expense ratio, which is lower than EUNL.DE's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EUNM.DE vs. EUNL.DE - Dividend Comparison
Neither EUNM.DE nor EUNL.DE has paid dividends to shareholders.
Frequently Asked Questions
EUNM.DE and EUNL.DE have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNM.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNM.DE is cheaper with a 0.18% expense ratio, compared with 0.20% for EUNL.DE.
EUNM.DE is categorized as Emerging Markets Equities, while EUNL.DE is Global Equities. EUNM.DE tracks MSCI Emerging Markets, while EUNL.DE tracks MSCI World Index. Their fees differ too: 0.18% for EUNM.DE and 0.20% for EUNL.DE.
Find the right allocation for EUNM.DE and EUNL.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer