EUNU.DE vs. XZEG.DE
EUNU.DE (iShares Core Global Aggregate Bond UCITS ETF USD (Dist)) and XZEG.DE (Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged) are both Global Bonds funds - EUNU.DE tracks the Bloomberg Global Aggregate Bond while XZEG.DE tracks the FTSE ESG Select World Government Bond Developed Markets (EUR Hedged). Both are passively managed. Over the past 3 years, EUNU.DE returned 1.68%/yr vs 0.86%/yr for XZEG.DE. A 0.57 correlation means they provide meaningful diversification when combined. EUNU.DE charges 0.10%/yr vs 0.25%/yr for XZEG.DE.
Performance
EUNU.DE vs. XZEG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EUNU.DE achieves a 2.98% return, which is significantly higher than XZEG.DE's -0.01% return.
EUNU.DE
- 1D
- -0.26%
- 1M
- 1.85%
- YTD
- 2.98%
- 6M
- 3.25%
- 1Y
- 3.48%
- 3Y*
- 1.68%
- 5Y*
- -0.68%
- 10Y*
- —
XZEG.DE
- 1D
- 0.00%
- 1M
- 0.86%
- YTD
- -0.01%
- 6M
- 0.17%
- 1Y
- -0.03%
- 3Y*
- 0.86%
- 5Y*
- —
- 10Y*
- —
EUNU.DE vs. XZEG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EUNU.DE iShares Core Global Aggregate Bond UCITS ETF USD (Dist) | 2.98% | -3.92% | 4.02% | 1.81% | -10.73% | -1.08% |
XZEG.DE Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged | -0.01% | 0.96% | -1.08% | 3.63% | -17.03% | -1.62% |
Correlation
The correlation between EUNU.DE and XZEG.DE is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2021 | 0.57 |
Over the past year, the correlation between EUNU.DE and XZEG.DE has dropped to 0.32 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.
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Return for Risk
EUNU.DE vs. XZEG.DE — Risk / Return Rank
EUNU.DE
XZEG.DE
EUNU.DE vs. XZEG.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 Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged (XZEG.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.
| EUNU.DE | XZEG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.83 | ||
| Sortino ratioReturn per unit of downside risk | +1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.00 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | -0.01 | +1.51 |
| Martin ratioReturn relative to average drawdown | 3.33 | -0.02 | +3.35 |
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Drawdowns
EUNU.DE vs. XZEG.DE - Drawdown Comparison
The maximum EUNU.DE drawdown since its inception was -19.45%, smaller than the maximum XZEG.DE drawdown of -21.23%. Use the drawdown chart below to compare losses from any high point for EUNU.DE and XZEG.DE.
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Drawdown Indicators
| EUNU.DE | XZEG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.45% | -21.23% | +1.78% |
Max Drawdown (1Y)Largest decline over 1 year | -2.31% | -3.70% | +1.39% |
Max Drawdown (3Y)Largest decline over 3 years | -7.60% | -4.28% | -3.32% |
Max Drawdown (5Y)Largest decline over 5 years | -14.70% | — | — |
Current DrawdownCurrent decline from peak | -10.19% | -15.53% | +5.34% |
Average DrawdownAverage peak-to-trough decline | -10.29% | -15.35% | +5.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | 1.44% | -0.41% |
Volatility
EUNU.DE vs. XZEG.DE - Volatility Comparison
iShares Core Global Aggregate Bond UCITS ETF USD (Dist) (EUNU.DE) has a higher volatility of 1.10% compared to Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged (XZEG.DE) at 0.94%. This indicates that EUNU.DE's price experiences larger fluctuations and is considered to be riskier than XZEG.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 | XZEG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.94% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 3.01% | 2.99% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.22% | 3.63% | +0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.12% | 5.78% | +0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.67% | 5.78% | +1.89% |
EUNU.DE vs. XZEG.DE - Expense Ratio Comparison
EUNU.DE has a 0.10% expense ratio, which is lower than XZEG.DE's 0.25% 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. XZEG.DE - Dividend Comparison
EUNU.DE's dividend yield for the trailing twelve months is around 3.11%, more than XZEG.DE's 2.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EUNU.DE iShares Core Global Aggregate Bond UCITS ETF USD (Dist) | 3.11% | 3.21% | 2.63% | 2.02% | 1.56% | 1.26% | 1.61% | 1.60% | 0.94% |
XZEG.DE Xtrackers II ESG Global Government Bond UCITS ETF 4D EUR Hedged | 2.51% | 2.40% | 2.55% | 1.67% | 1.10% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EUNU.DE and XZEG.DE have a correlation of 0.32, 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 0.25% for XZEG.DE.
EUNU.DE tracks Bloomberg Global Aggregate Bond, while XZEG.DE tracks FTSE ESG Select World Government Bond Developed Markets (EUR Hedged). They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.10% for EUNU.DE and 0.25% for XZEG.DE.
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