EUNZ.DE vs. EUNM.DE
EUNZ.DE (iShares Edge MSCI EM Minimum Volatility UCITS ETF) and EUNM.DE (iShares MSCI EM UCITS ETF (Acc)) are both Emerging Markets Equities funds from iShares - EUNZ.DE tracks the MSCI Emerging Markets Minimum Volatility while EUNM.DE tracks the MSCI Emerging Markets. Both are passively managed. Over the past 10 years, EUNZ.DE returned 6.20%/yr vs 9.83%/yr for EUNM.DE. Their correlation of 0.91 suggests significant overlap in exposure. EUNZ.DE charges 0.40%/yr vs 0.18%/yr for EUNM.DE.
Performance
EUNZ.DE vs. EUNM.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 EUNM.DE's 27.21% return. Over the past 10 years, EUNZ.DE has underperformed EUNM.DE with an annualized return of 6.20%, while EUNM.DE has yielded a comparatively higher 9.83% 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%
EUNM.DE
- 1D
- -1.60%
- 1M
- 3.61%
- YTD
- 27.21%
- 6M
- 27.83%
- 1Y
- 48.65%
- 3Y*
- 20.75%
- 5Y*
- 8.41%
- 10Y*
- 9.83%
EUNZ.DE vs. EUNM.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% |
EUNM.DE iShares MSCI EM UCITS ETF (Acc) | 27.21% | 19.18% | 14.09% | 5.71% | -14.47% | 4.68% | 6.84% | 20.91% | -10.84% | 19.89% |
Correlation
The correlation between EUNZ.DE and EUNM.DE is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2013 | 0.91 |
The correlation between EUNZ.DE and EUNM.DE has been stable across timeframes, ranging from 0.84 to 0.91 - a consistent structural relationship.
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Return for Risk
EUNZ.DE vs. EUNM.DE — Risk / Return Rank
EUNZ.DE
EUNM.DE
EUNZ.DE vs. EUNM.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 UCITS ETF (Acc) (EUNM.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 | EUNM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.50 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.00 | 4.72 | -1.72 |
| Martin ratioReturn relative to average drawdown | 10.57 | 17.07 | -6.50 |
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 | EUNM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.85 | 2.78 | -0.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.50 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | 0.54 | -0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.39 | -0.03 |
Drawdowns
EUNZ.DE vs. EUNM.DE - Drawdown Comparison
The maximum EUNZ.DE drawdown since its inception was -30.47%, smaller than the maximum EUNM.DE drawdown of -35.91%. Use the drawdown chart below to compare losses from any high point for EUNZ.DE and EUNM.DE.
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Drawdown Indicators
| EUNZ.DE | EUNM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.47% | -35.91% | +5.44% |
Max Drawdown (1Y)Largest decline over 1 year | -7.50% | -10.46% | +2.96% |
Max Drawdown (3Y)Largest decline over 3 years | -14.00% | -19.01% | +5.01% |
Max Drawdown (5Y)Largest decline over 5 years | -14.00% | -23.62% | +9.62% |
Max Drawdown (10Y)Largest decline over 10 years | -26.15% | -31.86% | +5.71% |
Current DrawdownCurrent decline from peak | -1.96% | -2.61% | +0.65% |
Average DrawdownAverage peak-to-trough decline | -7.62% | -10.55% | +2.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.13% | 2.90% | -0.77% |
Volatility
EUNZ.DE vs. EUNM.DE - Volatility Comparison
The current volatility for iShares Edge MSCI EM Minimum Volatility UCITS ETF (EUNZ.DE) is 4.75%, while iShares MSCI EM UCITS ETF (Acc) (EUNM.DE) has a volatility of 7.30%. This indicates that EUNZ.DE experiences smaller price fluctuations and is considered to be less risky than EUNM.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 | EUNM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.75% | 7.30% | -2.55% |
Volatility (6M)Calculated over the trailing 6-month period | 10.35% | 14.98% | -4.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.18% | 17.80% | -5.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.41% | 16.70% | -5.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.32% | 18.19% | -4.87% |
EUNZ.DE vs. EUNM.DE - Expense Ratio Comparison
EUNZ.DE has a 0.40% expense ratio, which is higher than EUNM.DE's 0.18% expense ratio.
Dividends
EUNZ.DE vs. EUNM.DE - Dividend Comparison
Neither EUNZ.DE nor EUNM.DE has paid dividends to shareholders.
Frequently Asked Questions
EUNZ.DE and EUNM.DE have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNM.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNM.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 EUNM.DE tracks MSCI Emerging Markets. Their fees differ too: 0.40% for EUNZ.DE and 0.18% for EUNM.DE.
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