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EUNW.DE vs. IEAC.AS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EUNW.DE vs. IEAC.AS

Last updated Jun 5, 2026

EUNW.DE (iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist)) and IEAC.AS (iShares Core € Corp Bond UCITS ETF) are both exchange-traded funds - EUNW.DE is a European High Yield Bonds fund tracking the iBoxx® EUR Liquid High Yield, while IEAC.AS is a Corporate Bonds fund tracking the Bloomberg Euro Corporate Bond Index. Both are passively managed. Over the past 10 years, EUNW.DE returned 3.10%/yr vs 1.02%/yr for IEAC.AS. At a 0.45 correlation, their price movements are largely independent. EUNW.DE charges 0.50%/yr vs 0.20%/yr for IEAC.AS.

Performance

EUNW.DE vs. IEAC.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (EUNW.DE) and iShares Core € Corp Bond UCITS ETF (IEAC.AS). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EUNW.DE achieves a 0.85% return, which is significantly higher than IEAC.AS's 0.58% return. Over the past 10 years, EUNW.DE has outperformed IEAC.AS with an annualized return of 3.10%, while IEAC.AS has yielded a comparatively lower 1.02% annualized return.

EUNW.DE

1D
0.05%
1M
0.49%
YTD
0.85%
6M
1.40%
1Y
3.18%
3Y*
6.32%
5Y*
2.68%
10Y*
3.10%

IEAC.AS

1D
0.10%
1M
0.40%
YTD
0.58%
6M
0.54%
1Y
2.06%
3Y*
4.59%
5Y*
0.07%
10Y*
1.02%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EUNW.DE vs. IEAC.AS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
IEAC.AS
iShares Core € Corp Bond UCITS ETF		0.58%3.05%4.40%7.74%-13.63%-1.02%2.55%6.29%-1.52%2.20%

Correlation

The correlation between EUNW.DE and IEAC.AS is 0.62, 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

0.62

Correlation (3Y)
Calculated over the trailing 3-year period

0.56

Correlation (5Y)
Calculated over the trailing 5-year period

0.53

Correlation (10Y)
Calculated over the trailing 10-year period

0.46

Correlation (All Time)
Calculated using the full available price history since Dec 16, 2014

0.45

The correlation between EUNW.DE and IEAC.AS shifts across timeframes, from 0.45 (all time) to 0.62 (1 year), reflecting how their relationship changes across market environments.

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iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist)

iShares Core € Corp Bond UCITS ETF

Often compared with EUNW.DE:
EUNW.DE vs. ERN1.LEUNW.DE vs. AYE2.DEEUNW.DE vs. EUNH.DEEUNW.DE vs. XHYG.DEEUNW.DE vs. HIGH.LEUNW.DE vs. VGEA.DEEUNW.DE vs. XEON.DE
Often compared with IEAC.AS:
IEAC.AS vs. VECA.DEIEAC.AS vs. LQDIEAC.AS vs. KORPIEAC.AS vs. AYEM.DEIEAC.AS vs. SEUC.LIEAC.AS vs. SHYG.LIEAC.AS vs. SWDA.L

Return for Risk

EUNW.DE vs. IEAC.AS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EUNW.DE
EUNW.DE Risk / Return Rank: 2828
Overall Rank
EUNW.DE Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
EUNW.DE Sortino Ratio Rank: 2929
Sortino Ratio Rank
EUNW.DE Omega Ratio Rank: 2929
Omega Ratio Rank
EUNW.DE Calmar Ratio Rank: 2424
Calmar Ratio Rank
EUNW.DE Martin Ratio Rank: 3333
Martin Ratio Rank
IEAC.AS
IEAC.AS Risk / Return Rank: 2020
Overall Rank
IEAC.AS Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
IEAC.AS Sortino Ratio Rank: 2020
Sortino Ratio Rank
IEAC.AS Omega Ratio Rank: 2020
Omega Ratio Rank
IEAC.AS Calmar Ratio Rank: 1919
Calmar Ratio Rank
IEAC.AS Martin Ratio Rank: 2222
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EUNW.DE vs. IEAC.AS - 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 Core € Corp Bond UCITS ETF (IEAC.AS). 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.DEIEAC.ASDifference
Sharpe ratioReturn per unit of total volatility
0.96
0.67

+0.29

Sortino ratioReturn per unit of downside risk
1.56
1.02

+0.54

Omega ratioGain probability vs. loss probability

1.19

1.13

+0.07

Calmar ratioReturn relative to maximum drawdown

1.12

0.77

+0.36

Martin ratioReturn relative to average drawdown

4.73

2.68

+2.04

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EUNW.DE vs. IEAC.AS - Sharpe Ratio Comparison

The current EUNW.DE Sharpe Ratio is 0.96, which is higher than the IEAC.AS Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of EUNW.DE and IEAC.AS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

EUNW.DEIEAC.ASDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.96

0.67

+0.29

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.50

0.02

+0.49

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.47

0.23

+0.24

Sharpe Ratio (All Time)

Calculated using the full available price history

0.47

0.78

-0.31

Drawdowns

EUNW.DE vs. IEAC.AS - Drawdown Comparison

The maximum EUNW.DE drawdown since its inception was -25.47%, which is greater than IEAC.AS's maximum drawdown of -17.26%. Use the drawdown chart below to compare losses from any high point for EUNW.DE and IEAC.AS.

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Drawdown Indicators

EUNW.DEIEAC.ASDifference

Max Drawdown

Largest peak-to-trough decline

-25.47%

-17.26%

-8.21%

Max Drawdown (1Y)

Largest decline over 1 year

-2.83%

-2.65%

-0.18%

Max Drawdown (3Y)

Largest decline over 3 years

-3.80%

-2.65%

-1.15%

Max Drawdown (5Y)

Largest decline over 5 years

-14.79%

-17.26%

+2.47%

Max Drawdown (10Y)

Largest decline over 10 years

-25.47%

-17.26%

-8.21%

Current Drawdown

Current decline from peak

-0.10%

-0.99%

+0.89%

Average Drawdown

Average peak-to-trough decline

-2.31%

-2.73%

+0.42%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.67%

0.76%

-0.09%

Volatility

EUNW.DE vs. IEAC.AS - Volatility Comparison

The current volatility for iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (EUNW.DE) is 0.79%, while iShares Core € Corp Bond UCITS ETF (IEAC.AS) has a volatility of 1.15%. This indicates that EUNW.DE experiences smaller price fluctuations and is considered to be less risky than IEAC.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EUNW.DEIEAC.ASDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.79%

1.15%

-0.36%

Volatility (6M)

Calculated over the trailing 6-month period

2.86%

2.67%

+0.19%

Volatility (1Y)

Calculated over the trailing 1-year period

3.30%

3.02%

+0.28%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.25%

4.42%

+0.83%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.58%

4.34%

+2.24%

EUNW.DE vs. IEAC.AS - Expense Ratio Comparison

EUNW.DE has a 0.50% expense ratio, which is higher than IEAC.AS's 0.20% expense ratio.

Dividends

EUNW.DE vs. IEAC.AS - Dividend Comparison

EUNW.DE's dividend yield for the trailing twelve months is around 5.17%, more than IEAC.AS's 3.33% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
IEAC.AS
iShares Core € Corp Bond UCITS ETF		3.33%3.29%3.39%2.51%0.84%0.81%0.84%1.10%0.98%1.52%1.66%0.90%

Frequently Asked Questions

EUNW.DE and IEAC.AS have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IEAC.AS is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IEAC.AS is cheaper with a 0.20% expense ratio, compared with 0.50% for EUNW.DE.

EUNW.DE is categorized as European High Yield Bonds, while IEAC.AS is Corporate Bonds. EUNW.DE tracks iBoxx® EUR Liquid High Yield, while IEAC.AS tracks Bloomberg Euro Corporate Bond Index. Their fees differ too: 0.50% for EUNW.DE and 0.20% for IEAC.AS.

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