EUNU.DE vs. IS0Z.DE
EUNU.DE (iShares Core Global Aggregate Bond UCITS ETF USD (Dist)) and IS0Z.DE (iShares Global AAA-AA Government Bond UCITS ETF (Dist)) are both Global Bonds funds from iShares - EUNU.DE tracks the Bloomberg Global Aggregate Bond while IS0Z.DE tracks the Bloomberg Global Government AAA-AA Capped Bond. Both are passively managed. Over the past 5 years, EUNU.DE returned -0.25%/yr vs -2.11%/yr for IS0Z.DE. A 0.78 correlation means they provide meaningful diversification when combined. EUNU.DE charges 0.10%/yr vs 0.20%/yr for IS0Z.DE.
Performance
EUNU.DE vs. IS0Z.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 IS0Z.DE's 1.29% 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*
- —
IS0Z.DE
- 1D
- 0.06%
- 1M
- 0.21%
- YTD
- 1.29%
- 6M
- 1.26%
- 1Y
- 0.54%
- 3Y*
- 1.18%
- 5Y*
- -2.11%
- 10Y*
- -0.58%
EUNU.DE vs. IS0Z.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUNU.DE iShares Core Global Aggregate Bond UCITS ETF USD (Dist) | -0.39% | -4.02% | 5.70% | 4.05% | -10.69% | 4.64% | 0.21% | 10.21% | 4.60% | -1.59% |
IS0Z.DE iShares Global AAA-AA Government Bond UCITS ETF (Dist) | 1.29% | -1.88% | 0.75% | 4.39% | -16.12% | -0.07% | 2.03% | 7.04% | 1.73% | -1.11% |
Correlation
The correlation between EUNU.DE and IS0Z.DE is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2017 | 0.78 |
The correlation between EUNU.DE and IS0Z.DE shifts across timeframes, from 0.60 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EUNU.DE vs. IS0Z.DE — Risk / Return Rank
EUNU.DE
IS0Z.DE
EUNU.DE vs. IS0Z.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 iShares Global AAA-AA Government Bond UCITS ETF (Dist) (IS0Z.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 | IS0Z.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.01 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | 0.09 | -0.39 |
| Martin ratioReturn relative to average drawdown | -0.67 | 0.19 | -0.86 |
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 | IS0Z.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.29 | 0.06 | -0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.04 | -0.34 | +0.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.05 | +0.18 |
Drawdowns
EUNU.DE vs. IS0Z.DE - Drawdown Comparison
The maximum EUNU.DE drawdown since its inception was -12.88%, smaller than the maximum IS0Z.DE drawdown of -21.02%. Use the drawdown chart below to compare losses from any high point for EUNU.DE and IS0Z.DE.
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Drawdown Indicators
| EUNU.DE | IS0Z.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.88% | -21.02% | +8.14% |
Max Drawdown (1Y)Largest decline over 1 year | -3.82% | -2.50% | -1.32% |
Max Drawdown (3Y)Largest decline over 3 years | -8.28% | -5.11% | -3.17% |
Max Drawdown (5Y)Largest decline over 5 years | -12.88% | -19.65% | +6.77% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.02% | — |
Current DrawdownCurrent decline from peak | -7.39% | -15.06% | +7.67% |
Average DrawdownAverage peak-to-trough decline | -4.71% | -7.48% | +2.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 1.21% | +0.50% |
Volatility
EUNU.DE vs. IS0Z.DE - Volatility Comparison
The current volatility for iShares Core Global Aggregate Bond UCITS ETF USD (Dist) (EUNU.DE) is 0.95%, while iShares Global AAA-AA Government Bond UCITS ETF (Dist) (IS0Z.DE) has a volatility of 1.69%. This indicates that EUNU.DE experiences smaller price fluctuations and is considered to be less risky than IS0Z.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 | IS0Z.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 1.69% | -0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 3.07% | -0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.99% | 3.82% | +0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.06% | 6.19% | -0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.76% | 5.66% | +0.10% |
EUNU.DE vs. IS0Z.DE - Expense Ratio Comparison
EUNU.DE has a 0.10% expense ratio, which is lower than IS0Z.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
EUNU.DE vs. IS0Z.DE - Dividend Comparison
EUNU.DE's dividend yield for the trailing twelve months is around 1.53%, less than IS0Z.DE's 2.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
IS0Z.DE iShares Global AAA-AA Government Bond UCITS ETF (Dist) | 2.67% | 2.51% | 2.30% | 1.57% | 0.80% | 0.47% | 0.62% | 0.88% | 0.90% | 0.82% | 0.84% | 1.06% |
Frequently Asked Questions
EUNU.DE and IS0Z.DE have a correlation of 0.60, 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 0.20% for IS0Z.DE.
EUNU.DE tracks Bloomberg Global Aggregate Bond, while IS0Z.DE tracks Bloomberg Global Government AAA-AA Capped Bond. Their fees differ too: 0.10% for EUNU.DE and 0.20% for IS0Z.DE.
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