EUNU.DE vs. SPFB.DE
EUNU.DE (iShares Core Global Aggregate Bond UCITS ETF USD (Dist)) and SPFB.DE (SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged) are both Global Bonds funds - EUNU.DE tracks the Bloomberg Global Aggregate Bond while SPFB.DE tracks the Bloomberg Global Aggregate Bond (GBP Hedged). Both are passively managed. Over the past 5 years, EUNU.DE returned -0.25%/yr vs 0.23%/yr for SPFB.DE. A 0.54 correlation means they provide meaningful diversification when combined. Both charge a 0.10% expense ratio.
Performance
EUNU.DE vs. SPFB.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 SPFB.DE's 0.61% 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*
- —
SPFB.DE
- 1D
- 0.21%
- 1M
- 0.06%
- YTD
- 0.61%
- 6M
- 0.86%
- 1Y
- 3.47%
- 3Y*
- 3.94%
- 5Y*
- 0.23%
- 10Y*
- —
EUNU.DE vs. SPFB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | 6.97% |
SPFB.DE SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged | 0.61% | 4.84% | 2.82% | 5.74% | -12.07% | -1.58% | 4.34% | 6.46% | 1.06% |
Correlation
The correlation between EUNU.DE and SPFB.DE is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2018 | 0.54 |
The correlation between EUNU.DE and SPFB.DE shifts across timeframes, from 0.35 (1 year) to 0.56 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EUNU.DE vs. SPFB.DE — Risk / Return Rank
EUNU.DE
SPFB.DE
EUNU.DE vs. SPFB.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 SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged (SPFB.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 | SPFB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | -2.05 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.20 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | 1.46 | -1.76 |
| Martin ratioReturn relative to average drawdown | -0.67 | 4.25 | -4.92 |
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 | SPFB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.29 | 1.12 | -1.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.04 | 0.05 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.34 | -0.11 |
Drawdowns
EUNU.DE vs. SPFB.DE - Drawdown Comparison
The maximum EUNU.DE drawdown since its inception was -12.88%, smaller than the maximum SPFB.DE drawdown of -15.78%. Use the drawdown chart below to compare losses from any high point for EUNU.DE and SPFB.DE.
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Drawdown Indicators
| EUNU.DE | SPFB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.88% | -15.78% | +2.90% |
Max Drawdown (1Y)Largest decline over 1 year | -3.82% | -2.31% | -1.51% |
Max Drawdown (3Y)Largest decline over 3 years | -8.28% | -3.59% | -4.69% |
Max Drawdown (5Y)Largest decline over 5 years | -12.88% | -15.55% | +2.67% |
Current DrawdownCurrent decline from peak | -7.39% | -1.01% | -6.38% |
Average DrawdownAverage peak-to-trough decline | -4.71% | -4.52% | -0.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 0.79% | +0.92% |
Volatility
EUNU.DE vs. SPFB.DE - Volatility Comparison
The current volatility for iShares Core Global Aggregate Bond UCITS ETF USD (Dist) (EUNU.DE) is 0.95%, while SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged (SPFB.DE) has a volatility of 1.39%. This indicates that EUNU.DE experiences smaller price fluctuations and is considered to be less risky than SPFB.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 | SPFB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 1.39% | -0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 2.47% | +0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.99% | 3.01% | +0.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.06% | 4.35% | +1.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.76% | 3.84% | +1.92% |
EUNU.DE vs. SPFB.DE - Expense Ratio Comparison
Both EUNU.DE and SPFB.DE have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
EUNU.DE vs. SPFB.DE - Dividend Comparison
EUNU.DE's dividend yield for the trailing twelve months is around 1.53%, less than SPFB.DE's 3.09% yield.
| 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% |
SPFB.DE SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged | 3.09% | 3.07% | 2.70% | 1.91% | 1.48% | 1.18% | 1.51% | 1.70% | 0.88% |
Frequently Asked Questions
EUNU.DE and SPFB.DE have a correlation of 0.35, 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 0.10% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
EUNU.DE and SPFB.DE have the same expense ratio: 0.10% per year.
EUNU.DE tracks Bloomberg Global Aggregate Bond, while SPFB.DE tracks Bloomberg Global Aggregate Bond (GBP Hedged). They also come from different issuers: iShares and State Street.
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