IBCL.DE vs. EUNL.DE
IBCL.DE (iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist)) and EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - IBCL.DE is a Government Bonds fund tracking the Bloomberg Euro Government Bond 15-30 Year Index, while EUNL.DE is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 10 years, IBCL.DE returned -2.57%/yr vs 13.01%/yr for EUNL.DE. At a correlation of -0.03, they often move in opposite directions. IBCL.DE charges 0.15%/yr vs 0.20%/yr for EUNL.DE.
Performance
IBCL.DE vs. EUNL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBCL.DE achieves a 1.09% return, which is significantly lower than EUNL.DE's 12.51% return. Over the past 10 years, IBCL.DE has underperformed EUNL.DE with an annualized return of -2.57%, while EUNL.DE has yielded a comparatively higher 13.01% annualized return.
IBCL.DE
- 1D
- -0.28%
- 1M
- 1.11%
- 6M
- 1.89%
- YTD
- 1.09%
- 1Y
- -1.73%
- 3Y*
- 0.28%
- 5Y*
- -7.37%
- 10Y*
- -2.57%
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%
IBCL.DE vs. EUNL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBCL.DE iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) | 1.09% | -5.38% | -0.90% | 9.73% | -34.35% | -6.57% | 11.60% | 15.55% | 3.25% | -1.49% |
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 IBCL.DE and EUNL.DE is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2009 | -0.03 |
The correlation between IBCL.DE and EUNL.DE shifts across timeframes, from -0.03 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IBCL.DE vs. EUNL.DE — Risk / Return Rank
IBCL.DE
EUNL.DE
IBCL.DE vs. EUNL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) (IBCL.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.
| IBCL.DE | EUNL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.32 | ||
| Sortino ratioReturn per unit of downside risk | -3.17 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.39 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 3.88 | -4.16 |
| Martin ratioReturn relative to average drawdown | -0.58 | 15.65 | -16.23 |
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Drawdowns
IBCL.DE vs. EUNL.DE - Drawdown Comparison
The maximum IBCL.DE drawdown since its inception was -43.80%, 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 IBCL.DE and EUNL.DE.
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Drawdown Indicators
| IBCL.DE | EUNL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.80% | -33.63% | -10.17% |
Max Drawdown (1Y)Largest decline over 1 year | -6.13% | -6.22% | +0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -11.97% | -21.73% | +9.76% |
Max Drawdown (5Y)Largest decline over 5 years | -42.19% | -21.73% | -20.46% |
Max Drawdown (10Y)Largest decline over 10 years | -43.80% | -33.63% | -10.17% |
Current DrawdownCurrent decline from peak | -36.74% | -0.10% | -36.64% |
Average DrawdownAverage peak-to-trough decline | -12.51% | -4.21% | -8.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.93% | 1.54% | +1.39% |
Volatility
IBCL.DE vs. EUNL.DE - Volatility Comparison
The current volatility for iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) (IBCL.DE) is 2.18%, while iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) has a volatility of 3.21%. This indicates that IBCL.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
| IBCL.DE | EUNL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.18% | 3.21% | -1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 7.15% | 7.97% | -0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.15% | 11.33% | -2.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.67% | 14.19% | -0.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.50% | 15.11% | -3.61% |
IBCL.DE vs. EUNL.DE - Expense Ratio Comparison
IBCL.DE has a 0.15% 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
IBCL.DE vs. EUNL.DE - Dividend Comparison
IBCL.DE's dividend yield for the trailing twelve months is around 3.63%, 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% |
IBCL.DE iShares € Govt Bond 15-30yr UCITS ETF EUR (Dist) | 3.63% | 3.53% | 3.19% | 2.64% | 1.31% | 0.53% | 0.74% | 1.26% | 1.50% | 1.35% | 1.47% | 1.83% |
Frequently Asked Questions
IBCL.DE and EUNL.DE have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBCL.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBCL.DE is cheaper with a 0.15% expense ratio, compared with 0.20% for EUNL.DE.
IBCL.DE is categorized as Government Bonds, while EUNL.DE is Global Equities. IBCL.DE tracks Bloomberg Euro Government Bond 15-30 Year Index, while EUNL.DE tracks MSCI World Index. Their fees differ too: 0.15% for IBCL.DE and 0.20% for EUNL.DE.
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