EUNZ.DE vs. UETE.DE
EUNZ.DE (iShares Edge MSCI EM Minimum Volatility UCITS ETF) and UETE.DE (UBS ETF (LU) MSCI Emerging Markets SRI UCITS ETF (USD) Acc) are both Emerging Markets Equities funds - EUNZ.DE tracks the MSCI Emerging Markets Minimum Volatility while UETE.DE tracks the MSCI Emerging Markets SRI Low Carbon Select 5% Issuer Capped. Both are passively managed. Over the past 5 years, EUNZ.DE returned 6.65%/yr vs 9.29%/yr for UETE.DE. Their correlation of 0.80 suggests significant overlap in exposure. EUNZ.DE charges 0.40%/yr vs 0.24%/yr for UETE.DE.
Performance
EUNZ.DE vs. UETE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EUNZ.DE achieves a 21.72% return, which is significantly lower than UETE.DE's 33.28% return.
EUNZ.DE
- 1D
- -0.87%
- 1M
- 1.73%
- YTD
- 21.72%
- 6M
- 22.09%
- 1Y
- 26.01%
- 3Y*
- 12.76%
- 5Y*
- 6.65%
- 10Y*
- 6.45%
UETE.DE
- 1D
- -1.51%
- 1M
- -1.22%
- YTD
- 33.28%
- 6M
- 35.72%
- 1Y
- 53.68%
- 3Y*
- 24.38%
- 5Y*
- 9.29%
- 10Y*
- —
EUNZ.DE vs. UETE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EUNZ.DE iShares Edge MSCI EM Minimum Volatility UCITS ETF | 21.72% | -0.12% | 15.71% | 3.83% | -8.85% | 13.09% | -2.49% | 5.17% |
UETE.DE UBS ETF (LU) MSCI Emerging Markets SRI UCITS ETF (USD) Acc | 33.28% | 21.01% | 16.13% | 2.59% | -15.04% | 7.14% | 5.67% | -5.92% |
Correlation
The correlation between EUNZ.DE and UETE.DE is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2019 | 0.80 |
The correlation between EUNZ.DE and UETE.DE has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.
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Return for Risk
EUNZ.DE vs. UETE.DE — Risk / Return Rank
EUNZ.DE
UETE.DE
EUNZ.DE vs. UETE.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 UBS ETF (LU) MSCI Emerging Markets SRI UCITS ETF (USD) Acc (UETE.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EUNZ.DE | UETE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.47 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.45 | 5.60 | -2.16 |
| Martin ratioReturn relative to average drawdown | 11.93 | 18.02 | -6.09 |
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Drawdowns
EUNZ.DE vs. UETE.DE - Drawdown Comparison
The maximum EUNZ.DE drawdown since its inception was -34.03%, smaller than the maximum UETE.DE drawdown of -39.65%. Use the drawdown chart below to compare losses from any high point for EUNZ.DE and UETE.DE.
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Drawdown Indicators
| EUNZ.DE | UETE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.03% | -39.65% | +5.62% |
Max Drawdown (1Y)Largest decline over 1 year | -7.51% | -9.43% | +1.92% |
Max Drawdown (3Y)Largest decline over 3 years | -14.00% | -20.18% | +6.18% |
Max Drawdown (5Y)Largest decline over 5 years | -14.00% | -23.78% | +9.78% |
Max Drawdown (10Y)Largest decline over 10 years | -26.16% | — | — |
Current DrawdownCurrent decline from peak | -2.72% | -6.41% | +3.69% |
Average DrawdownAverage peak-to-trough decline | -10.17% | -11.50% | +1.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.17% | 2.94% | -0.77% |
Volatility
EUNZ.DE vs. UETE.DE - Volatility Comparison
The current volatility for iShares Edge MSCI EM Minimum Volatility UCITS ETF (EUNZ.DE) is 5.66%, while UBS ETF (LU) MSCI Emerging Markets SRI UCITS ETF (USD) Acc (UETE.DE) has a volatility of 8.51%. This indicates that EUNZ.DE experiences smaller price fluctuations and is considered to be less risky than UETE.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 | UETE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.66% | 8.51% | -2.85% |
Volatility (6M)Calculated over the trailing 6-month period | 11.40% | 17.38% | -5.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.06% | 20.06% | -7.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.61% | 18.33% | -6.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.34% | 21.09% | -7.75% |
EUNZ.DE vs. UETE.DE - Expense Ratio Comparison
EUNZ.DE has a 0.40% expense ratio, which is higher than UETE.DE's 0.24% expense ratio.
Dividends
EUNZ.DE vs. UETE.DE - Dividend Comparison
Neither EUNZ.DE nor UETE.DE has paid dividends to shareholders.
Frequently Asked Questions
EUNZ.DE and UETE.DE have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UETE.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UETE.DE is cheaper with a 0.24% expense ratio, compared with 0.40% for EUNZ.DE.
EUNZ.DE tracks MSCI Emerging Markets Minimum Volatility, while UETE.DE tracks MSCI Emerging Markets SRI Low Carbon Select 5% Issuer Capped. They also come from different issuers: iShares and UBS. Their fees differ too: 0.40% for EUNZ.DE and 0.24% for UETE.DE.
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