EXS3.DE vs. EUN0.DE
EXS3.DE (iShares MDAX UCITS ETF (DE)) and EUN0.DE (iShares Edge MSCI Europe Minimum Volatility UCITS ETF) are both Europe Equities funds from iShares - EXS3.DE tracks the MDAX® while EUN0.DE tracks the MSCI Europe Minimum Volatility. Both are passively managed. Over the past 10 years, EXS3.DE returned 4.04%/yr vs 6.66%/yr for EUN0.DE. A 0.74 correlation means they provide meaningful diversification when combined. EXS3.DE charges 0.51%/yr vs 0.25%/yr for EUN0.DE.
Performance
EXS3.DE vs. EUN0.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EXS3.DE achieves a 6.43% return, which is significantly higher than EUN0.DE's 5.60% return. Over the past 10 years, EXS3.DE has underperformed EUN0.DE with an annualized return of 4.04%, while EUN0.DE has yielded a comparatively higher 6.66% annualized return.
EXS3.DE
- 1D
- 0.21%
- 1M
- 5.13%
- YTD
- 6.43%
- 6M
- 10.24%
- 1Y
- 4.92%
- 3Y*
- 6.03%
- 5Y*
- -1.18%
- 10Y*
- 4.04%
EUN0.DE
- 1D
- 0.54%
- 1M
- 0.57%
- YTD
- 5.60%
- 6M
- 6.91%
- 1Y
- 5.46%
- 3Y*
- 10.39%
- 5Y*
- 7.36%
- 10Y*
- 6.66%
EXS3.DE vs. EUN0.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EXS3.DE iShares MDAX UCITS ETF (DE) | 6.43% | 19.10% | -6.45% | 7.92% | -29.11% | 13.18% | 8.17% | 30.28% | -18.39% | 17.41% |
EUN0.DE iShares Edge MSCI Europe Minimum Volatility UCITS ETF | 5.60% | 12.27% | 11.42% | 10.79% | -13.21% | 21.54% | -4.02% | 24.17% | -4.36% | 9.14% |
Correlation
The correlation between EXS3.DE and EUN0.DE is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Feb 12, 2013 | 0.74 |
Over the past year, the correlation between EXS3.DE and EUN0.DE has dropped to 0.49 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.
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Return for Risk
EXS3.DE vs. EUN0.DE — Risk / Return Rank
EXS3.DE
EUN0.DE
EXS3.DE vs. EUN0.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MDAX UCITS ETF (DE) (EXS3.DE) and iShares Edge MSCI Europe Minimum Volatility UCITS ETF (EUN0.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.
| EXS3.DE | EUN0.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.11 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.34 | 0.76 | -0.42 |
| Martin ratioReturn relative to average drawdown | 0.91 | 1.97 | -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. | |||
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Sharpe Ratios by Period
| EXS3.DE | EUN0.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.26 | 0.62 | -0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.06 | 0.66 | -0.72 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | 0.53 | -0.31 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.63 | -0.28 |
Drawdowns
EXS3.DE vs. EUN0.DE - Drawdown Comparison
The maximum EXS3.DE drawdown since its inception was -63.82%, which is greater than EUN0.DE's maximum drawdown of -30.68%. Use the drawdown chart below to compare losses from any high point for EXS3.DE and EUN0.DE.
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Drawdown Indicators
| EXS3.DE | EUN0.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.82% | -30.68% | -33.14% |
Max Drawdown (1Y)Largest decline over 1 year | -14.57% | -7.16% | -7.41% |
Max Drawdown (3Y)Largest decline over 3 years | -18.67% | -10.73% | -7.94% |
Max Drawdown (5Y)Largest decline over 5 years | -40.31% | -19.64% | -20.67% |
Max Drawdown (10Y)Largest decline over 10 years | -40.31% | -30.68% | -9.63% |
Current DrawdownCurrent decline from peak | -12.23% | -3.12% | -9.11% |
Average DrawdownAverage peak-to-trough decline | -14.02% | -4.69% | -9.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.35% | 2.76% | +2.59% |
Volatility
EXS3.DE vs. EUN0.DE - Volatility Comparison
iShares MDAX UCITS ETF (DE) (EXS3.DE) has a higher volatility of 4.94% compared to iShares Edge MSCI Europe Minimum Volatility UCITS ETF (EUN0.DE) at 3.03%. This indicates that EXS3.DE's price experiences larger fluctuations and is considered to be riskier than EUN0.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EXS3.DE | EUN0.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 3.03% | +1.91% |
Volatility (6M)Calculated over the trailing 6-month period | 15.18% | 7.20% | +7.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.54% | 8.77% | +9.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.35% | 11.02% | +8.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.37% | 12.51% | +5.86% |
EXS3.DE vs. EUN0.DE - Expense Ratio Comparison
EXS3.DE has a 0.51% expense ratio, which is higher than EUN0.DE's 0.25% expense ratio.
Dividends
EXS3.DE vs. EUN0.DE - Dividend Comparison
Neither EXS3.DE nor EUN0.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUN0.DE iShares Edge MSCI Europe Minimum Volatility UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EXS3.DE iShares MDAX UCITS ETF (DE) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.41% | 0.49% | 0.53% | 0.49% |
Frequently Asked Questions
EXS3.DE and EUN0.DE have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUN0.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUN0.DE is cheaper with a 0.25% expense ratio, compared with 0.51% for EXS3.DE.
EXS3.DE tracks MDAX®, while EUN0.DE tracks MSCI Europe Minimum Volatility. Their fees differ too: 0.51% for EXS3.DE and 0.25% for EUN0.DE.
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