IBC4.DE vs. EUNA.DE
IBC4.DE (iShares MSCI South Africa UCITS ETF USD (Acc)) and EUNA.DE (iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc) are both exchange-traded funds - IBC4.DE is a Emerging Markets Equities fund tracking the MSCI South Africa Capped Index, while EUNA.DE is a Global Bonds fund tracking the Bloomberg Global Aggregate Bond (EUR Hedged). Both are passively managed. Over the past 5 years, IBC4.DE returned 11.49%/yr vs -1.36%/yr for EUNA.DE. At a 0.09 correlation, their price movements are largely independent. IBC4.DE charges 0.65%/yr vs 0.10%/yr for EUNA.DE.
Performance
IBC4.DE vs. EUNA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBC4.DE achieves a -1.83% return, which is significantly lower than EUNA.DE's -0.40% return.
IBC4.DE
- 1D
- 0.65%
- 1M
- -0.00%
- 6M
- -2.26%
- YTD
- -1.83%
- 1Y
- 32.92%
- 3Y*
- 22.90%
- 5Y*
- 11.49%
- 10Y*
- 7.19%
EUNA.DE
- 1D
- -0.20%
- 1M
- 0.41%
- 6M
- 0.20%
- YTD
- -0.40%
- 1Y
- 0.82%
- 3Y*
- 2.34%
- 5Y*
- -1.36%
- 10Y*
- —
IBC4.DE vs. EUNA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBC4.DE iShares MSCI South Africa UCITS ETF USD (Acc) | -1.83% | 57.35% | 14.83% | -3.10% | 1.72% | 12.68% | -11.83% | 12.46% | -21.79% | 8.81% |
EUNA.DE iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc | -0.40% | 2.91% | 1.48% | 4.41% | -13.52% | -2.42% | 3.86% | 5.07% | -1.20% | -0.20% |
Correlation
The correlation between IBC4.DE and EUNA.DE is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Nov 21, 2017 | 0.09 |
Over the past year, IBC4.DE and EUNA.DE have become more correlated (0.34) than their long-term average of 0.09, meaning their price movements have been converging.
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Return for Risk
IBC4.DE vs. EUNA.DE — Risk / Return Rank
IBC4.DE
EUNA.DE
IBC4.DE vs. EUNA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Africa UCITS ETF USD (Acc) (IBC4.DE) and iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (EUNA.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.
| IBC4.DE | EUNA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.04 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 0.29 | +1.23 |
| Martin ratioReturn relative to average drawdown | 3.57 | 0.78 | +2.79 |
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Drawdowns
IBC4.DE vs. EUNA.DE - Drawdown Comparison
The maximum IBC4.DE drawdown since its inception was -55.48%, which is greater than EUNA.DE's maximum drawdown of -17.81%. Use the drawdown chart below to compare losses from any high point for IBC4.DE and EUNA.DE.
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Drawdown Indicators
| IBC4.DE | EUNA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.48% | -17.81% | -37.67% |
Max Drawdown (1Y)Largest decline over 1 year | -21.54% | -2.80% | -18.74% |
Max Drawdown (3Y)Largest decline over 3 years | -21.54% | -4.11% | -17.43% |
Max Drawdown (5Y)Largest decline over 5 years | -29.74% | -17.04% | -12.70% |
Max Drawdown (10Y)Largest decline over 10 years | -55.48% | — | — |
Current DrawdownCurrent decline from peak | -16.46% | -8.53% | -7.93% |
Average DrawdownAverage peak-to-trough decline | -17.44% | -6.71% | -10.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.21% | 1.05% | +8.16% |
Volatility
IBC4.DE vs. EUNA.DE - Volatility Comparison
iShares MSCI South Africa UCITS ETF USD (Acc) (IBC4.DE) has a higher volatility of 8.06% compared to iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (EUNA.DE) at 0.86%. This indicates that IBC4.DE's price experiences larger fluctuations and is considered to be riskier than EUNA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBC4.DE | EUNA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.06% | 0.86% | +7.20% |
Volatility (6M)Calculated over the trailing 6-month period | 25.34% | 2.83% | +22.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.76% | 3.73% | +26.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.63% | 4.84% | +20.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.84% | 4.44% | +23.40% |
IBC4.DE vs. EUNA.DE - Expense Ratio Comparison
IBC4.DE has a 0.65% expense ratio, which is higher than EUNA.DE's 0.10% expense ratio.
Dividends
IBC4.DE vs. EUNA.DE - Dividend Comparison
Neither IBC4.DE nor EUNA.DE has paid dividends to shareholders.
Frequently Asked Questions
IBC4.DE and EUNA.DE have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNA.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNA.DE is cheaper with a 0.10% expense ratio, compared with 0.65% for IBC4.DE.
IBC4.DE is categorized as Emerging Markets Equities, while EUNA.DE is Global Bonds. IBC4.DE tracks MSCI South Africa Capped Index, while EUNA.DE tracks Bloomberg Global Aggregate Bond (EUR Hedged). Their fees differ too: 0.65% for IBC4.DE and 0.10% for EUNA.DE.
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