EUNU.DE vs. HGGA.DE
EUNU.DE (iShares Core Global Aggregate Bond UCITS ETF USD (Dist)) and HGGA.DE (HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF) are both Global Bonds funds - EUNU.DE tracks the Bloomberg Global Aggregate Bond while HGGA.DE tracks the Bloomberg MSCI Global Aggregate 1-3 SRI Carbon ESG-Weighted. Both are passively managed. Over the past 3 years, EUNU.DE returned 1.03%/yr vs 0.90%/yr for HGGA.DE. A 0.73 correlation means they provide meaningful diversification when combined. EUNU.DE charges 0.10%/yr vs 0.18%/yr for HGGA.DE.
Performance
EUNU.DE vs. HGGA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EUNU.DE achieves a -0.39% return, which is significantly lower than HGGA.DE's 1.31% return.
EUNU.DE
- 1D
- 0.02%
- 1M
- 0.44%
- YTD
- -0.39%
- 6M
- -0.91%
- 1Y
- -0.79%
- 3Y*
- 1.03%
- 5Y*
- -0.25%
- 10Y*
- —
HGGA.DE
- 1D
- 0.00%
- 1M
- 0.50%
- YTD
- 1.31%
- 6M
- 0.88%
- 1Y
- 0.39%
- 3Y*
- 0.90%
- 5Y*
- —
- 10Y*
- —
EUNU.DE vs. HGGA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EUNU.DE iShares Core Global Aggregate Bond UCITS ETF USD (Dist) | -0.39% | -4.02% | 5.70% | 4.05% | -9.71% |
HGGA.DE HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF | 1.31% | -4.17% | 5.69% | 0.16% | -1.86% |
Correlation
The correlation between EUNU.DE and HGGA.DE is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2022 | 0.73 |
The correlation between EUNU.DE and HGGA.DE has been stable across timeframes, ranging from 0.72 to 0.73 - a consistent structural relationship.
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Return for Risk
EUNU.DE vs. HGGA.DE — Risk / Return Rank
EUNU.DE
HGGA.DE
EUNU.DE vs. HGGA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Global Aggregate Bond UCITS ETF USD (Dist) (EUNU.DE) and HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF (HGGA.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.
| EUNU.DE | HGGA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.01 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | 0.08 | -0.38 |
| Martin ratioReturn relative to average drawdown | -0.67 | 0.17 | -0.83 |
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
| EUNU.DE | HGGA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.29 | 0.05 | -0.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.04 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.04 | +0.19 |
Drawdowns
EUNU.DE vs. HGGA.DE - Drawdown Comparison
The maximum EUNU.DE drawdown since its inception was -12.88%, which is greater than HGGA.DE's maximum drawdown of -8.58%. Use the drawdown chart below to compare losses from any high point for EUNU.DE and HGGA.DE.
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Drawdown Indicators
| EUNU.DE | HGGA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.88% | -8.58% | -4.30% |
Max Drawdown (1Y)Largest decline over 1 year | -3.82% | -2.04% | -1.78% |
Max Drawdown (3Y)Largest decline over 3 years | -8.28% | -6.78% | -1.50% |
Max Drawdown (5Y)Largest decline over 5 years | -12.88% | — | — |
Current DrawdownCurrent decline from peak | -7.39% | -4.56% | -2.83% |
Average DrawdownAverage peak-to-trough decline | -4.71% | -4.18% | -0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 1.02% | +0.69% |
Volatility
EUNU.DE vs. HGGA.DE - Volatility Comparison
iShares Core Global Aggregate Bond UCITS ETF USD (Dist) (EUNU.DE) has a higher volatility of 0.95% compared to HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF (HGGA.DE) at 0.53%. This indicates that EUNU.DE's price experiences larger fluctuations and is considered to be riskier than HGGA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUNU.DE | HGGA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 0.53% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 2.33% | +0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.99% | 3.42% | +0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.06% | 4.98% | +1.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.76% | 4.98% | +0.78% |
EUNU.DE vs. HGGA.DE - Expense Ratio Comparison
EUNU.DE has a 0.10% expense ratio, which is lower than HGGA.DE's 0.18% 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
EUNU.DE vs. HGGA.DE - Dividend Comparison
EUNU.DE's dividend yield for the trailing twelve months is around 1.53%, while HGGA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EUNU.DE iShares Core Global Aggregate Bond UCITS ETF USD (Dist) | 1.53% | 3.21% | 4.10% | 4.25% | 1.55% | 2.78% | 2.49% | 2.47% | 2.10% |
HGGA.DE HSBC Bloomberg Global Sustainable Aggregate 1-3 Year Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EUNU.DE and HGGA.DE have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNU.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNU.DE is cheaper with a 0.10% expense ratio, compared with 0.18% for HGGA.DE.
EUNU.DE tracks Bloomberg Global Aggregate Bond, while HGGA.DE tracks Bloomberg MSCI Global Aggregate 1-3 SRI Carbon ESG-Weighted. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.10% for EUNU.DE and 0.18% for HGGA.DE.
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