EXHC.DE vs. EUNL.DE
EXHC.DE (iShares eb.rexx Government Germany 2.5-5.5yr UCITS ETF (DE)) and EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - EXHC.DE is a Government Bonds fund tracking the eb.rexx Government Germany 2.5-5.5 Index, while EUNL.DE is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 10 years, EXHC.DE returned -0.63%/yr vs 13.01%/yr for EUNL.DE. At a correlation of -0.09, they often move in opposite directions. EXHC.DE charges 0.16%/yr vs 0.20%/yr for EUNL.DE.
Performance
EXHC.DE vs. EUNL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EXHC.DE achieves a 0.37% return, which is significantly lower than EUNL.DE's 12.51% return. Over the past 10 years, EXHC.DE has underperformed EUNL.DE with an annualized return of -0.63%, while EUNL.DE has yielded a comparatively higher 13.01% annualized return.
EXHC.DE
- 1D
- -0.17%
- 1M
- 0.67%
- 6M
- 0.42%
- YTD
- 0.37%
- 1Y
- 0.40%
- 3Y*
- 2.33%
- 5Y*
- -0.87%
- 10Y*
- -0.63%
EUNL.DE
- 1D
- 0.37%
- 1M
- 1.51%
- 6M
- 12.63%
- YTD
- 12.51%
- 1Y
- 24.23%
- 3Y*
- 17.52%
- 5Y*
- 12.27%
- 10Y*
- 13.01%
EXHC.DE vs. EUNL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EXHC.DE iShares eb.rexx Government Germany 2.5-5.5yr UCITS ETF (DE) | 0.37% | 1.16% | 1.57% | 4.17% | -10.23% | -1.37% | -0.09% | -0.18% | 0.47% | -1.24% |
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 12.51% | 7.91% | 25.93% | 20.12% | -13.59% | 32.72% | 5.48% | 31.35% | -5.13% | 7.71% |
Correlation
The correlation between EXHC.DE and EUNL.DE is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2009 | -0.09 |
The correlation between EXHC.DE and EUNL.DE shifts across timeframes, from -0.09 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EXHC.DE vs. EUNL.DE — Risk / Return Rank
EXHC.DE
EUNL.DE
EXHC.DE vs. EUNL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares eb.rexx Government Germany 2.5-5.5yr UCITS ETF (DE) (EXHC.DE) and iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.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.
| EXHC.DE | EUNL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.97 | ||
| Sortino ratioReturn per unit of downside risk | -2.71 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.39 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | 3.88 | -3.69 |
| Martin ratioReturn relative to average drawdown | 0.46 | 15.65 | -15.19 |
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Drawdowns
EXHC.DE vs. EUNL.DE - Drawdown Comparison
The maximum EXHC.DE drawdown since its inception was -14.39%, smaller than the maximum EUNL.DE drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for EXHC.DE and EUNL.DE.
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Drawdown Indicators
| EXHC.DE | EUNL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.39% | -33.63% | +19.24% |
Max Drawdown (1Y)Largest decline over 1 year | -2.06% | -6.22% | +4.16% |
Max Drawdown (3Y)Largest decline over 3 years | -2.33% | -21.73% | +19.40% |
Max Drawdown (5Y)Largest decline over 5 years | -12.55% | -21.73% | +9.18% |
Max Drawdown (10Y)Largest decline over 10 years | -14.39% | -33.63% | +19.24% |
Current DrawdownCurrent decline from peak | -6.78% | -0.10% | -6.68% |
Average DrawdownAverage peak-to-trough decline | -2.90% | -4.21% | +1.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 1.54% | -0.67% |
Volatility
EXHC.DE vs. EUNL.DE - Volatility Comparison
The current volatility for iShares eb.rexx Government Germany 2.5-5.5yr UCITS ETF (DE) (EXHC.DE) is 0.52%, while iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) has a volatility of 3.21%. This indicates that EXHC.DE experiences smaller price fluctuations and is considered to be less risky than EUNL.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EXHC.DE | EUNL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | 3.21% | -2.69% |
Volatility (6M)Calculated over the trailing 6-month period | 2.06% | 7.97% | -5.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.39% | 11.33% | -8.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.59% | 14.19% | -10.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.76% | 15.11% | -12.35% |
EXHC.DE vs. EUNL.DE - Expense Ratio Comparison
EXHC.DE has a 0.16% expense ratio, which is lower than EUNL.DE's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EXHC.DE vs. EUNL.DE - Dividend Comparison
EXHC.DE's dividend yield for the trailing twelve months is around 1.40%, while EUNL.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EXHC.DE iShares eb.rexx Government Germany 2.5-5.5yr UCITS ETF (DE) | 1.40% | 1.38% | 1.11% | 0.81% | 0.41% | 0.68% | 0.86% | 1.08% | 0.91% | 1.34% | 1.65% | 1.82% |
Frequently Asked Questions
EXHC.DE and EUNL.DE have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EXHC.DE is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EXHC.DE is cheaper with a 0.16% expense ratio, compared with 0.20% for EUNL.DE.
EXHC.DE is categorized as Government Bonds, while EUNL.DE is Global Equities. EXHC.DE tracks eb.rexx Government Germany 2.5-5.5 Index, while EUNL.DE tracks MSCI World Index. Their fees differ too: 0.16% for EXHC.DE and 0.20% for EUNL.DE.
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