EUNW.DE vs. EMBE.L
EUNW.DE (iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist)) and EMBE.L (iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist)) are both exchange-traded funds - EUNW.DE is a European High Yield Bonds fund tracking the iBoxx® EUR Liquid High Yield, while EMBE.L is a Emerging Markets Bonds fund tracking the JPM EMBI Global Diversified Hedge TR EUR. Both are passively managed. Over the past 10 years, EUNW.DE returned 3.24%/yr vs 1.09%/yr for EMBE.L. A 0.53 correlation means they provide meaningful diversification when combined. Both charge a 0.50% expense ratio.
Performance
EUNW.DE vs. EMBE.L - Performance Comparison
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Returns By Period
In the year-to-date period, EUNW.DE achieves a 1.08% return, which is significantly lower than EMBE.L's 1.23% return. Over the past 10 years, EUNW.DE has outperformed EMBE.L with an annualized return of 3.24%, while EMBE.L has yielded a comparatively lower 1.09% annualized return.
EUNW.DE
- 1D
- 0.34%
- 1M
- 0.71%
- YTD
- 1.08%
- 6M
- 1.74%
- 1Y
- 3.40%
- 3Y*
- 6.20%
- 5Y*
- 2.64%
- 10Y*
- 3.24%
EMBE.L
- 1D
- 0.81%
- 1M
- 1.12%
- YTD
- 1.23%
- 6M
- 1.69%
- 1Y
- 8.49%
- 3Y*
- 7.36%
- 5Y*
- -0.43%
- 10Y*
- 1.09%
EUNW.DE vs. EMBE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUNW.DE iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) | 1.08% | 4.99% | 5.90% | 11.26% | -9.37% | 2.92% | 1.07% | 9.86% | -3.52% | 4.59% |
EMBE.L iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) | 1.23% | 10.99% | 4.00% | 7.66% | -20.86% | -3.27% | 3.35% | 12.27% | -8.40% | 8.13% |
Correlation
The correlation between EUNW.DE and EMBE.L is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jul 8, 2013 | 0.53 |
The correlation between EUNW.DE and EMBE.L shifts across timeframes, from 0.53 (all time) to 0.66 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EUNW.DE vs. EMBE.L — Risk / Return Rank
EUNW.DE
EMBE.L
EUNW.DE vs. EMBE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (EUNW.DE) and iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) (EMBE.L). 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.
| EUNW.DE | EMBE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.27 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.18 | 1.84 | -0.66 |
| Martin ratioReturn relative to average drawdown | 4.94 | 7.04 | -2.10 |
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Drawdowns
EUNW.DE vs. EMBE.L - Drawdown Comparison
The maximum EUNW.DE drawdown since its inception was -25.47%, smaller than the maximum EMBE.L drawdown of -30.73%. Use the drawdown chart below to compare losses from any high point for EUNW.DE and EMBE.L.
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Drawdown Indicators
| EUNW.DE | EMBE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.47% | -30.73% | +5.26% |
Max Drawdown (1Y)Largest decline over 1 year | -2.86% | -4.58% | +1.72% |
Max Drawdown (3Y)Largest decline over 3 years | -3.80% | -7.94% | +4.14% |
Max Drawdown (5Y)Largest decline over 5 years | -14.79% | -30.46% | +15.67% |
Max Drawdown (10Y)Largest decline over 10 years | -25.47% | -30.73% | +5.26% |
Current DrawdownCurrent decline from peak | 0.00% | -3.70% | +3.70% |
Average DrawdownAverage peak-to-trough decline | -2.06% | -7.38% | +5.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 1.20% | -0.51% |
Volatility
EUNW.DE vs. EMBE.L - Volatility Comparison
The current volatility for iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (EUNW.DE) is 0.82%, while iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) (EMBE.L) has a volatility of 2.14%. This indicates that EUNW.DE experiences smaller price fluctuations and is considered to be less risky than EMBE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUNW.DE | EMBE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 2.14% | -1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | 4.88% | -1.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.40% | 5.91% | -2.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.27% | 8.90% | -3.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.57% | 9.48% | -2.91% |
EUNW.DE vs. EMBE.L - Expense Ratio Comparison
Both EUNW.DE and EMBE.L have an expense ratio of 0.50%.
Dividends
EUNW.DE vs. EMBE.L - Dividend Comparison
EUNW.DE's dividend yield for the trailing twelve months is around 5.16%, which matches EMBE.L's 5.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMBE.L iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) | 5.13% | 5.44% | 5.64% | 5.50% | 5.39% | 3.92% | 3.85% | 4.77% | 5.75% | 3.88% | 5.36% | 4.72% |
EUNW.DE iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) | 5.16% | 5.45% | 6.09% | 5.41% | 3.70% | 3.07% | 3.67% | 3.75% | 3.68% | 3.78% | 4.03% | 4.59% |
Frequently Asked Questions
EUNW.DE and EMBE.L have a correlation of 0.66, 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 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
EUNW.DE and EMBE.L have the same expense ratio: 0.50% per year.
EUNW.DE is categorized as European High Yield Bonds, while EMBE.L is Emerging Markets Bonds. EUNW.DE tracks iBoxx® EUR Liquid High Yield, while EMBE.L tracks JPM EMBI Global Diversified Hedge TR EUR.
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