EUNZ.DE vs. DBZB.DE
EUNZ.DE (iShares Edge MSCI EM Minimum Volatility UCITS ETF) and DBZB.DE (Xtrackers II Global Government Bond UCITS ETF EUR Hedged) are both exchange-traded funds - EUNZ.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Minimum Volatility, while DBZB.DE is a Global Bonds fund tracking the FTSE World Government Bond - Developed Markets (EUR Hedged). Both are passively managed. Over the past 10 years, EUNZ.DE returned 6.20%/yr vs -0.99%/yr for DBZB.DE. At a correlation of -0.07, they often move in opposite directions. EUNZ.DE charges 0.40%/yr vs 0.25%/yr for DBZB.DE.
Performance
EUNZ.DE vs. DBZB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EUNZ.DE achieves a 18.69% return, which is significantly higher than DBZB.DE's -0.71% return. Over the past 10 years, EUNZ.DE has outperformed DBZB.DE with an annualized return of 6.20%, while DBZB.DE has yielded a comparatively lower -0.99% annualized return.
EUNZ.DE
- 1D
- -1.19%
- 1M
- 3.85%
- YTD
- 18.69%
- 6M
- 17.92%
- 1Y
- 22.13%
- 3Y*
- 11.07%
- 5Y*
- 6.48%
- 10Y*
- 6.20%
DBZB.DE
- 1D
- 0.15%
- 1M
- -0.28%
- YTD
- -0.71%
- 6M
- -0.77%
- 1Y
- -0.07%
- 3Y*
- 0.76%
- 5Y*
- -2.54%
- 10Y*
- -0.99%
EUNZ.DE vs. DBZB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUNZ.DE iShares Edge MSCI EM Minimum Volatility UCITS ETF | 18.69% | -0.15% | 15.73% | 3.85% | -8.85% | 13.05% | -2.49% | 10.59% | -1.89% | 11.39% |
DBZB.DE Xtrackers II Global Government Bond UCITS ETF EUR Hedged | -0.71% | 1.28% | -0.41% | 3.56% | -15.11% | -3.19% | 4.16% | 4.55% | -0.36% | -0.12% |
Correlation
The correlation between EUNZ.DE and DBZB.DE is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2013 | -0.07 |
The correlation between EUNZ.DE and DBZB.DE shifts across timeframes, from -0.07 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EUNZ.DE vs. DBZB.DE — Risk / Return Rank
EUNZ.DE
DBZB.DE
EUNZ.DE vs. DBZB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI EM Minimum Volatility UCITS ETF (EUNZ.DE) and Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.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.
| EUNZ.DE | DBZB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.86 | ||
| Sortino ratioReturn per unit of downside risk | +2.65 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.00 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 3.00 | -0.01 | +3.01 |
| Martin ratioReturn relative to average drawdown | 10.57 | -0.04 | +10.61 |
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
| EUNZ.DE | DBZB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.85 | -0.01 | +1.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | -0.47 | +1.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | -0.21 | +0.67 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.22 | +0.13 |
Drawdowns
EUNZ.DE vs. DBZB.DE - Drawdown Comparison
The maximum EUNZ.DE drawdown since its inception was -30.47%, which is greater than DBZB.DE's maximum drawdown of -21.88%. Use the drawdown chart below to compare losses from any high point for EUNZ.DE and DBZB.DE.
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Drawdown Indicators
| EUNZ.DE | DBZB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.47% | -21.88% | -8.59% |
Max Drawdown (1Y)Largest decline over 1 year | -7.50% | -3.52% | -3.98% |
Max Drawdown (3Y)Largest decline over 3 years | -14.00% | -5.14% | -8.86% |
Max Drawdown (5Y)Largest decline over 5 years | -14.00% | -19.51% | +5.51% |
Max Drawdown (10Y)Largest decline over 10 years | -26.15% | -21.88% | -4.27% |
Current DrawdownCurrent decline from peak | -1.96% | -16.44% | +14.48% |
Average DrawdownAverage peak-to-trough decline | -7.62% | -5.97% | -1.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.13% | 1.26% | +0.87% |
Volatility
EUNZ.DE vs. DBZB.DE - Volatility Comparison
iShares Edge MSCI EM Minimum Volatility UCITS ETF (EUNZ.DE) has a higher volatility of 4.75% compared to Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.DE) at 1.48%. This indicates that EUNZ.DE's price experiences larger fluctuations and is considered to be riskier than DBZB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUNZ.DE | DBZB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.75% | 1.48% | +3.27% |
Volatility (6M)Calculated over the trailing 6-month period | 10.35% | 3.06% | +7.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.18% | 3.86% | +8.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.41% | 5.37% | +6.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.32% | 4.74% | +8.58% |
EUNZ.DE vs. DBZB.DE - Expense Ratio Comparison
EUNZ.DE has a 0.40% expense ratio, which is higher than DBZB.DE's 0.25% expense ratio.
Dividends
EUNZ.DE vs. DBZB.DE - Dividend Comparison
Neither EUNZ.DE nor DBZB.DE has paid dividends to shareholders.
Frequently Asked Questions
EUNZ.DE and DBZB.DE have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DBZB.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DBZB.DE is cheaper with a 0.25% expense ratio, compared with 0.40% for EUNZ.DE.
EUNZ.DE is categorized as Emerging Markets Equities, while DBZB.DE is Global Bonds. EUNZ.DE tracks MSCI Emerging Markets Minimum Volatility, while DBZB.DE tracks FTSE World Government Bond - Developed Markets (EUR Hedged). They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.40% for EUNZ.DE and 0.25% for DBZB.DE.
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