EUNW.DE vs. GSY
EUNW.DE (iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist)) and GSY (Invesco Ultra Short Duration ETF) are both exchange-traded funds - EUNW.DE is a European High Yield Bonds fund tracking the iBoxx® EUR Liquid High Yield, while GSY is a Ultrashort Bond fund actively managed by Invesco. EUNW.DE is passively managed, while GSY is actively managed. Over the past 10 years, EUNW.DE returned 3.10%/yr vs 2.71%/yr for GSY. At a correlation of -0.09, they often move in opposite directions. EUNW.DE charges 0.50%/yr vs 0.22%/yr for GSY.
Performance
EUNW.DE vs. GSY - Performance Comparison
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Different Trading Currencies
EUNW.DE is traded in EUR, while GSY is traded in USD. To make them comparable, the GSY values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, EUNW.DE achieves a 0.85% return, which is significantly lower than GSY's 3.57% return. Over the past 10 years, EUNW.DE has outperformed GSY with an annualized return of 3.10%, while GSY has yielded a comparatively lower 2.71% annualized return.
EUNW.DE
- 1D
- 0.05%
- 1M
- 0.46%
- YTD
- 0.85%
- 6M
- 1.40%
- 1Y
- 3.33%
- 3Y*
- 6.32%
- 5Y*
- 2.68%
- 10Y*
- 3.10%
GSY
- 1D
- 0.74%
- 1M
- 2.28%
- YTD
- 3.57%
- 6M
- 2.99%
- 1Y
- 3.78%
- 3Y*
- 2.85%
- 5Y*
- 4.78%
- 10Y*
- 2.71%
EUNW.DE vs. GSY - 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) | 0.85% | 5.00% | 5.90% | 11.26% | -9.36% | 2.93% | 1.06% | 9.87% | -3.52% | 4.59% |
GSY Invesco Ultra Short Duration ETF | 3.57% | -7.49% | 12.95% | 2.81% | 6.21% | 7.51% | -6.52% | 5.72% | 6.97% | -10.66% |
Correlation
The correlation between EUNW.DE and GSY is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.16 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2014 | -0.09 |
The correlation between EUNW.DE and GSY shifts across timeframes, from -0.23 (5 years) to -0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EUNW.DE vs. GSY — Risk / Return Rank
EUNW.DE
GSY
EUNW.DE vs. GSY - 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 Invesco Ultra Short Duration ETF (GSY). 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.
| EUNW.DE | GSY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.11 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.12 | 1.03 | +0.09 |
| Martin ratioReturn relative to average drawdown | 4.73 | 2.41 | +2.32 |
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
| EUNW.DE | GSY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.96 | 0.61 | +0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | 0.63 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.37 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.33 | +0.15 |
Drawdowns
EUNW.DE vs. GSY - Drawdown Comparison
The maximum EUNW.DE drawdown since its inception was -25.47%, which is greater than GSY's maximum drawdown of -21.95%. Use the drawdown chart below to compare losses from any high point for EUNW.DE and GSY.
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Drawdown Indicators
| EUNW.DE | GSY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.47% | -21.95% | -3.52% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -3.69% | +0.86% |
Max Drawdown (3Y)Largest decline over 3 years | -3.80% | -11.17% | +7.37% |
Max Drawdown (5Y)Largest decline over 5 years | -14.79% | -11.34% | -3.45% |
Max Drawdown (10Y)Largest decline over 10 years | -25.47% | -15.17% | -10.30% |
Current DrawdownCurrent decline from peak | -0.10% | -5.31% | +5.21% |
Average DrawdownAverage peak-to-trough decline | -2.31% | -7.20% | +4.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 1.57% | -0.90% |
Volatility
EUNW.DE vs. GSY - Volatility Comparison
The current volatility for iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (EUNW.DE) is 0.79%, while Invesco Ultra Short Duration ETF (GSY) has a volatility of 1.25%. This indicates that EUNW.DE experiences smaller price fluctuations and is considered to be less risky than GSY 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 | GSY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 1.25% | -0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 2.86% | 4.27% | -1.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.30% | 6.20% | -2.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.25% | 7.55% | -2.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.58% | 7.30% | -0.72% |
EUNW.DE vs. GSY - Expense Ratio Comparison
EUNW.DE has a 0.50% expense ratio, which is higher than GSY's 0.22% expense ratio.
Dividends
EUNW.DE vs. GSY - Dividend Comparison
EUNW.DE's dividend yield for the trailing twelve months is around 5.17%, more than GSY's 4.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUNW.DE iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) | 5.17% | 5.45% | 6.09% | 5.41% | 3.70% | 3.07% | 3.67% | 3.75% | 3.68% | 3.78% | 4.03% | 4.59% |
GSY Invesco Ultra Short Duration ETF | 4.34% | 4.56% | 5.31% | 4.95% | 1.70% | 0.58% | 1.45% | 2.71% | 2.30% | 1.80% | 1.21% | 1.17% |
Frequently Asked Questions
EUNW.DE and GSY have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GSY is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GSY is cheaper with a 0.22% expense ratio, compared with 0.50% for EUNW.DE.
EUNW.DE is categorized as European High Yield Bonds, while GSY is Ultrashort Bond. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.50% for EUNW.DE and 0.22% for GSY.
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