EXSE.DE vs. EUNL.DE
EXSE.DE (iShares STOXX Europe Small 200 UCITS ETF (DE)) and EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - EXSE.DE is a Europe Equities fund tracking the STOXX® Europe Small 200, while EUNL.DE is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 10 years, EXSE.DE returned 7.21%/yr vs 12.82%/yr for EUNL.DE. A 0.74 correlation means they provide meaningful diversification when combined. Both charge a 0.20% expense ratio.
Performance
EXSE.DE vs. EUNL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EXSE.DE achieves a 7.33% return, which is significantly lower than EUNL.DE's 10.86% return. Over the past 10 years, EXSE.DE has underperformed EUNL.DE with an annualized return of 7.21%, while EUNL.DE has yielded a comparatively higher 12.82% annualized return.
EXSE.DE
- 1D
- 0.55%
- 1M
- 1.10%
- YTD
- 7.33%
- 6M
- 10.98%
- 1Y
- 15.08%
- 3Y*
- 11.63%
- 5Y*
- 3.52%
- 10Y*
- 7.21%
EUNL.DE
- 1D
- 0.02%
- 1M
- 4.80%
- YTD
- 10.86%
- 6M
- 11.29%
- 1Y
- 23.80%
- 3Y*
- 17.55%
- 5Y*
- 12.89%
- 10Y*
- 12.82%
EXSE.DE vs. EUNL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EXSE.DE iShares STOXX Europe Small 200 UCITS ETF (DE) | 7.33% | 18.59% | 3.15% | 12.44% | -23.69% | 22.14% | 4.50% | 30.93% | -13.60% | 17.93% |
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 10.86% | 7.90% | 25.93% | 20.13% | -13.59% | 32.71% | 5.48% | 31.34% | -5.13% | 7.71% |
Correlation
The correlation between EXSE.DE and EUNL.DE is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Oct 21, 2009 | 0.74 |
The correlation between EXSE.DE and EUNL.DE has been stable across timeframes, ranging from 0.65 to 0.74 - a consistent structural relationship.
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Return for Risk
EXSE.DE vs. EUNL.DE — Risk / Return Rank
EXSE.DE
EUNL.DE
EXSE.DE vs. EUNL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares STOXX Europe Small 200 UCITS ETF (DE) (EXSE.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.
| EXSE.DE | EUNL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.40 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 3.64 | -2.16 |
| Martin ratioReturn relative to average drawdown | 5.48 | 14.52 | -9.04 |
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
| EXSE.DE | EUNL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.16 | 2.12 | -0.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.90 | -0.69 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 0.84 | -0.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.82 | -0.43 |
Drawdowns
EXSE.DE vs. EUNL.DE - Drawdown Comparison
The maximum EXSE.DE drawdown since its inception was -62.51%, which is greater than EUNL.DE's maximum drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for EXSE.DE and EUNL.DE.
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Drawdown Indicators
| EXSE.DE | EUNL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.51% | -33.63% | -28.88% |
Max Drawdown (1Y)Largest decline over 1 year | -10.36% | -6.50% | -3.86% |
Max Drawdown (3Y)Largest decline over 3 years | -15.61% | -21.73% | +6.12% |
Max Drawdown (5Y)Largest decline over 5 years | -35.13% | -21.73% | -13.40% |
Max Drawdown (10Y)Largest decline over 10 years | -38.03% | -33.63% | -4.40% |
Current DrawdownCurrent decline from peak | -1.14% | -0.31% | -0.83% |
Average DrawdownAverage peak-to-trough decline | -12.96% | -4.25% | -8.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 1.64% | +1.18% |
Volatility
EXSE.DE vs. EUNL.DE - Volatility Comparison
iShares STOXX Europe Small 200 UCITS ETF (DE) (EXSE.DE) has a higher volatility of 3.72% compared to iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) at 2.62%. This indicates that EXSE.DE's price experiences larger fluctuations and is considered to be riskier 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
| EXSE.DE | EUNL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.72% | 2.62% | +1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 10.87% | 7.72% | +3.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.33% | 11.16% | +2.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.91% | 14.17% | +2.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.34% | 15.17% | +2.17% |
EXSE.DE vs. EUNL.DE - Expense Ratio Comparison
Both EXSE.DE and EUNL.DE have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
EXSE.DE vs. EUNL.DE - Dividend Comparison
EXSE.DE's dividend yield for the trailing twelve months is around 2.67%, 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% |
EXSE.DE iShares STOXX Europe Small 200 UCITS ETF (DE) | 2.67% | 2.91% | 2.58% | 2.29% | 2.59% | 1.43% | 1.25% | 2.13% | 2.59% | 3.45% | 2.83% | 2.87% |
Frequently Asked Questions
EXSE.DE and EUNL.DE have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
EXSE.DE and EUNL.DE have the same expense ratio: 0.20% per year.
EXSE.DE is categorized as Europe Equities, while EUNL.DE is Global Equities. EXSE.DE tracks STOXX® Europe Small 200, while EUNL.DE tracks MSCI World Index.
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