EUNR.DE vs. EUNL.DE
EUNR.DE (iShares EUR Corporate Bond ex-Financials UCITS ETF EUR (Dist)) and EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - EUNR.DE is a European Corporate Bonds fund tracking the Bloomberg Euro Corporate ex-Financials Bond, while EUNL.DE is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 10 years, EUNR.DE returned 0.82%/yr vs 13.28%/yr for EUNL.DE. At a 0.10 correlation, their price movements are largely independent. Both charge a 0.20% expense ratio.
Performance
EUNR.DE vs. EUNL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EUNR.DE achieves a 1.25% return, which is significantly lower than EUNL.DE's 11.02% return. Over the past 10 years, EUNR.DE has underperformed EUNL.DE with an annualized return of 0.82%, while EUNL.DE has yielded a comparatively higher 13.28% annualized return.
EUNR.DE
- 1D
- 0.05%
- 1M
- 0.75%
- YTD
- 1.25%
- 6M
- 1.43%
- 1Y
- 2.33%
- 3Y*
- 4.19%
- 5Y*
- -0.11%
- 10Y*
- 0.82%
EUNL.DE
- 1D
- -0.55%
- 1M
- 0.80%
- YTD
- 11.02%
- 6M
- 11.36%
- 1Y
- 24.80%
- 3Y*
- 17.97%
- 5Y*
- 12.27%
- 10Y*
- 13.28%
EUNR.DE vs. EUNL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUNR.DE iShares EUR Corporate Bond ex-Financials UCITS ETF EUR (Dist) | 1.25% | 2.63% | 3.48% | 7.31% | -13.61% | -1.23% | 2.84% | 6.34% | -1.21% | 1.58% |
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 11.02% | 7.91% | 25.93% | 20.12% | -13.59% | 32.72% | 5.48% | 31.35% | -5.13% | 7.71% |
Correlation
The correlation between EUNR.DE and EUNL.DE is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2009 | 0.10 |
Over the past year, EUNR.DE and EUNL.DE have become more correlated (0.42) than their long-term average of 0.10, meaning their price movements have been converging.
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Return for Risk
EUNR.DE vs. EUNL.DE — Risk / Return Rank
EUNR.DE
EUNL.DE
EUNR.DE vs. EUNL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares EUR Corporate Bond ex-Financials UCITS ETF EUR (Dist) (EUNR.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.
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.
| EUNR.DE | EUNL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.44 | ||
| Sortino ratioReturn per unit of downside risk | -1.88 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.40 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | 3.97 | -3.09 |
| Martin ratioReturn relative to average drawdown | 2.87 | 16.03 | -13.16 |
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Drawdowns
EUNR.DE vs. EUNL.DE - Drawdown Comparison
The maximum EUNR.DE drawdown since its inception was -17.49%, smaller than the maximum EUNL.DE drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for EUNR.DE and EUNL.DE.
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Drawdown Indicators
| EUNR.DE | EUNL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.49% | -33.63% | +16.14% |
Max Drawdown (1Y)Largest decline over 1 year | -2.65% | -6.22% | +3.57% |
Max Drawdown (3Y)Largest decline over 3 years | -2.65% | -21.73% | +19.08% |
Max Drawdown (5Y)Largest decline over 5 years | -17.49% | -21.73% | +4.24% |
Max Drawdown (10Y)Largest decline over 10 years | -17.49% | -33.63% | +16.14% |
Current DrawdownCurrent decline from peak | -2.20% | -0.77% | -1.43% |
Average DrawdownAverage peak-to-trough decline | -3.26% | -4.21% | +0.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.81% | 1.54% | -0.73% |
Volatility
EUNR.DE vs. EUNL.DE - Volatility Comparison
The current volatility for iShares EUR Corporate Bond ex-Financials UCITS ETF EUR (Dist) (EUNR.DE) is 0.70%, while iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) has a volatility of 3.01%. This indicates that EUNR.DE experiences smaller price fluctuations and is considered to be less risky than EUNL.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUNR.DE | EUNL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 3.01% | -2.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.71% | 7.91% | -5.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.12% | 11.30% | -8.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.58% | 14.19% | -9.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.54% | 15.14% | -10.60% |
EUNR.DE vs. EUNL.DE - Expense Ratio Comparison
Both EUNR.DE and EUNL.DE have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
EUNR.DE vs. EUNL.DE - Dividend Comparison
EUNR.DE's dividend yield for the trailing twelve months is around 2.80%, while EUNL.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% | 0.00% |
EUNR.DE iShares EUR Corporate Bond ex-Financials UCITS ETF EUR (Dist) | 2.80% | 2.65% | 2.25% | 1.50% | 0.90% | 0.81% | 0.88% | 1.25% | 1.35% | 1.42% | 1.84% | 1.03% |
Frequently Asked Questions
EUNR.DE and EUNL.DE have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
EUNR.DE and EUNL.DE have the same expense ratio: 0.20% per year.
EUNR.DE is categorized as European Corporate Bonds, while EUNL.DE is Global Equities. EUNR.DE tracks Bloomberg Euro Corporate ex-Financials Bond, while EUNL.DE tracks MSCI World Index.
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