EUNZ.DE vs. V3MA.DE

Last updated Jun 5, 2026

EUNZ.DE (iShares Edge MSCI EM Minimum Volatility UCITS ETF) and V3MA.DE (Vanguard ESG Emerging Markets All Cap UCITS ETF (USD) Accumulating) are both Emerging Markets Equities funds - EUNZ.DE tracks the MSCI Emerging Markets Minimum Volatility while V3MA.DE tracks the FTSE Emerging All Cap Choice. Both are passively managed. Over the past year, EUNZ.DE returned 22.13% vs 30.41% for V3MA.DE. A 0.80 correlation means they provide meaningful diversification when combined. EUNZ.DE charges 0.40%/yr vs 0.24%/yr for V3MA.DE.

Performance

EUNZ.DE vs. V3MA.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Edge MSCI EM Minimum Volatility UCITS ETF (EUNZ.DE) and Vanguard ESG Emerging Markets All Cap UCITS ETF (USD) Accumulating (V3MA.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EUNZ.DE achieves a 18.69% return, which is significantly higher than V3MA.DE's 16.20% 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%

V3MA.DE

• 1D: -0.58%
• 1M: 1.58%
• YTD: 16.20%
• 6M: 16.10%
• 1Y: 30.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EUNZ.DE vs. V3MA.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EUNZ.DE iShares Edge MSCI EM Minimum Volatility UCITS ETF	18.69%	-0.15%	2.12%
V3MA.DE Vanguard ESG Emerging Markets All Cap UCITS ETF (USD) Accumulating	16.20%	10.67%	1.36%

Correlation

The correlation between EUNZ.DE and V3MA.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 (All Time) Calculated using the full available price history since Nov 4, 2024	0.80

The correlation between EUNZ.DE and V3MA.DE has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.

Return for Risk

EUNZ.DE vs. V3MA.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EUNZ.DE

EUNZ.DE Risk / Return Rank: 58
EUNZ.DE Sharpe Ratio Rank: 55
EUNZ.DE Sortino Ratio Rank: 57
EUNZ.DE Omega Ratio Rank: 58
EUNZ.DE Calmar Ratio Rank: 61
EUNZ.DE Martin Ratio Rank: 60

V3MA.DE

V3MA.DE Risk / Return Rank: 64
V3MA.DE Sharpe Ratio Rank: 62
V3MA.DE Sortino Ratio Rank: 62
V3MA.DE Omega Ratio Rank: 62
V3MA.DE Calmar Ratio Rank: 70
V3MA.DE Martin Ratio Rank: 64

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.

EUNZ.DE vs. V3MA.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 Vanguard ESG Emerging Markets All Cap UCITS ETF (USD) Accumulating (V3MA.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	V3MA.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.85	2.04	-0.19
Sortino ratio: Return per unit of downside risk	2.65	2.86	-0.21
Omega ratio: Gain probability vs. loss probability	1.35	1.37	-0.02
Calmar ratio: Return relative to maximum drawdown	3.00	3.45	-0.45
Martin ratio: Return relative to average drawdown	10.57	11.63	-1.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EUNZ.DE vs. V3MA.DE - Sharpe Ratio Comparison

The current EUNZ.DE Sharpe Ratio is 1.85, which is comparable to the V3MA.DE Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of EUNZ.DE and V3MA.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EUNZ.DE	V3MA.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.85	2.04	-0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	—	—
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	1.12	-0.77

Drawdowns

EUNZ.DE vs. V3MA.DE - Drawdown Comparison

The maximum EUNZ.DE drawdown since its inception was -30.47%, which is greater than V3MA.DE's maximum drawdown of -19.79%. Use the drawdown chart below to compare losses from any high point for EUNZ.DE and V3MA.DE.

Drawdown Indicators

	EUNZ.DE	V3MA.DE	Difference
Max Drawdown Largest peak-to-trough decline	-30.47%	-19.79%	-10.68%
Max Drawdown (1Y) Largest decline over 1 year	-7.50%	-9.00%	+1.50%
Max Drawdown (3Y) Largest decline over 3 years	-14.00%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.00%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-26.15%	—	—
Current Drawdown Current decline from peak	-1.96%	-1.50%	-0.46%
Average Drawdown Average peak-to-trough decline	-7.62%	-3.29%	-4.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	2.68%	-0.55%

Volatility

EUNZ.DE vs. V3MA.DE - Volatility Comparison

The current volatility for iShares Edge MSCI EM Minimum Volatility UCITS ETF (EUNZ.DE) is 4.75%, while Vanguard ESG Emerging Markets All Cap UCITS ETF (USD) Accumulating (V3MA.DE) has a volatility of 5.43%. This indicates that EUNZ.DE experiences smaller price fluctuations and is considered to be less risky than V3MA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EUNZ.DE	V3MA.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.75%	5.43%	-0.68%
Volatility (6M) Calculated over the trailing 6-month period	10.35%	12.23%	-1.88%
Volatility (1Y) Calculated over the trailing 1-year period	12.18%	15.26%	-3.08%
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%	16.83%	-3.51%

EUNZ.DE vs. V3MA.DE - Expense Ratio Comparison

EUNZ.DE has a 0.40% expense ratio, which is higher than V3MA.DE's 0.24% expense ratio.

Dividends

EUNZ.DE vs. V3MA.DE - Dividend Comparison

Neither EUNZ.DE nor V3MA.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both EUNZ.DE and V3MA.DE in my portfolio?

EUNZ.DE and V3MA.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.

Which ETF is better, EUNZ.DE or V3MA.DE?

On fees, V3MA.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EUNZ.DE or V3MA.DE?

V3MA.DE is cheaper with a 0.24% expense ratio, compared with 0.40% for EUNZ.DE.

What is the main difference between EUNZ.DE and V3MA.DE?

EUNZ.DE tracks MSCI Emerging Markets Minimum Volatility, while V3MA.DE tracks FTSE Emerging All Cap Choice. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.40% for EUNZ.DE and 0.24% for V3MA.DE.