EUNZ.DE vs. EDM2.DE
EUNZ.DE (iShares Edge MSCI EM Minimum Volatility UCITS ETF) and EDM2.DE (iShares MSCI EM ESG Enhanced UCITS ETF USD (Acc)) are both Emerging Markets Equities funds from iShares - EUNZ.DE tracks the MSCI Emerging Markets Minimum Volatility while EDM2.DE tracks the MSCI Emerging Markets ESG Enhanced Focus. Both are passively managed. Over the past 5 years, EUNZ.DE returned 6.48%/yr vs 7.59%/yr for EDM2.DE. Their correlation of 0.86 suggests significant overlap in exposure. EUNZ.DE charges 0.40%/yr vs 0.18%/yr for EDM2.DE.
Performance
EUNZ.DE vs. EDM2.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 lower than EDM2.DE's 26.35% 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%
EDM2.DE
- 1D
- -1.45%
- 1M
- 3.82%
- YTD
- 26.35%
- 6M
- 26.81%
- 1Y
- 46.28%
- 3Y*
- 20.29%
- 5Y*
- 7.59%
- 10Y*
- —
EUNZ.DE vs. EDM2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EUNZ.DE iShares Edge MSCI EM Minimum Volatility UCITS ETF | 18.69% | -0.15% | 15.73% | 3.85% | -8.85% | 13.05% | -2.49% | 1.81% |
EDM2.DE iShares MSCI EM ESG Enhanced UCITS ETF USD (Acc) | 26.35% | 19.81% | 13.36% | 4.56% | -16.00% | 4.73% | 7.76% | 7.05% |
Correlation
The correlation between EUNZ.DE and EDM2.DE is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2019 | 0.86 |
The correlation between EUNZ.DE and EDM2.DE has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.
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Return for Risk
EUNZ.DE vs. EDM2.DE — Risk / Return Rank
EUNZ.DE
EDM2.DE
EUNZ.DE vs. EDM2.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 iShares MSCI EM ESG Enhanced UCITS ETF USD (Acc) (EDM2.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 | EDM2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.78 | ||
| Sortino ratioReturn per unit of downside risk | -0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.48 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.00 | 4.32 | -1.32 |
| Martin ratioReturn relative to average drawdown | 10.57 | 15.65 | -5.09 |
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 | EDM2.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.85 | 2.63 | -0.78 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.45 | +0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.49 | -0.14 |
Drawdowns
EUNZ.DE vs. EDM2.DE - Drawdown Comparison
The maximum EUNZ.DE drawdown since its inception was -30.47%, smaller than the maximum EDM2.DE drawdown of -32.32%. Use the drawdown chart below to compare losses from any high point for EUNZ.DE and EDM2.DE.
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Drawdown Indicators
| EUNZ.DE | EDM2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.47% | -32.32% | +1.85% |
Max Drawdown (1Y)Largest decline over 1 year | -7.50% | -10.88% | +3.38% |
Max Drawdown (3Y)Largest decline over 3 years | -14.00% | -19.52% | +5.52% |
Max Drawdown (5Y)Largest decline over 5 years | -14.00% | -25.43% | +11.43% |
Max Drawdown (10Y)Largest decline over 10 years | -26.15% | — | — |
Current DrawdownCurrent decline from peak | -1.96% | -2.66% | +0.70% |
Average DrawdownAverage peak-to-trough decline | -7.62% | -11.10% | +3.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.13% | 3.01% | -0.88% |
Volatility
EUNZ.DE vs. EDM2.DE - Volatility Comparison
The current volatility for iShares Edge MSCI EM Minimum Volatility UCITS ETF (EUNZ.DE) is 4.75%, while iShares MSCI EM ESG Enhanced UCITS ETF USD (Acc) (EDM2.DE) has a volatility of 7.43%. This indicates that EUNZ.DE experiences smaller price fluctuations and is considered to be less risky than EDM2.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 | EDM2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.75% | 7.43% | -2.68% |
Volatility (6M)Calculated over the trailing 6-month period | 10.35% | 15.11% | -4.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.18% | 17.92% | -5.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.41% | 16.83% | -5.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.32% | 19.13% | -5.81% |
EUNZ.DE vs. EDM2.DE - Expense Ratio Comparison
EUNZ.DE has a 0.40% expense ratio, which is higher than EDM2.DE's 0.18% expense ratio.
Dividends
EUNZ.DE vs. EDM2.DE - Dividend Comparison
Neither EUNZ.DE nor EDM2.DE has paid dividends to shareholders.
Frequently Asked Questions
EUNZ.DE and EDM2.DE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EDM2.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EDM2.DE is cheaper with a 0.18% expense ratio, compared with 0.40% for EUNZ.DE.
EUNZ.DE tracks MSCI Emerging Markets Minimum Volatility, while EDM2.DE tracks MSCI Emerging Markets ESG Enhanced Focus. Their fees differ too: 0.40% for EUNZ.DE and 0.18% for EDM2.DE.
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