IBGS.L vs. EUNW.DE
IBGS.L (iShares Euro Government Bond 1-3yr UCITS ETF (Dist)) and EUNW.DE (iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist)) are both exchange-traded funds - IBGS.L is a European Government Bonds fund tracking the Bloomberg Euro Agg Govt 1-3 Yr TR EUR, while EUNW.DE is a European High Yield Bonds fund tracking the iBoxx® EUR Liquid High Yield. Both are passively managed. Over the past 10 years, IBGS.L returned 1.38%/yr vs 4.12%/yr for EUNW.DE. A 0.64 correlation means they provide meaningful diversification when combined. IBGS.L charges 0.15%/yr vs 0.50%/yr for EUNW.DE.
Performance
IBGS.L vs. EUNW.DE - Performance Comparison
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Different Trading Currencies
IBGS.L is traded in GBP, while EUNW.DE is traded in EUR. To make them comparable, the EUNW.DE values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, IBGS.L achieves a -1.02% return, which is significantly lower than EUNW.DE's -0.08% return. Over the past 10 years, IBGS.L has underperformed EUNW.DE with an annualized return of 1.38%, while EUNW.DE has yielded a comparatively higher 4.12% annualized return.
IBGS.L
- 1D
- -0.07%
- 1M
- 0.24%
- YTD
- -1.02%
- 6M
- -0.96%
- 1Y
- 3.54%
- 3Y*
- 2.79%
- 5Y*
- 0.92%
- 10Y*
- 1.38%
EUNW.DE
- 1D
- -0.13%
- 1M
- 1.04%
- YTD
- -0.08%
- 6M
- 0.24%
- 1Y
- 6.07%
- 3Y*
- 6.44%
- 5Y*
- 2.80%
- 10Y*
- 4.12%
IBGS.L vs. EUNW.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBGS.L iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | -1.02% | 7.76% | -1.67% | 1.50% | 1.00% | -7.25% | 5.39% | -4.81% | 0.64% | 3.54% |
EUNW.DE iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) | -0.08% | 10.46% | 1.28% | 9.04% | -4.40% | -4.33% | 6.77% | 4.15% | -2.16% | 9.06% |
Correlation
The correlation between IBGS.L and EUNW.DE is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2014 | 0.64 |
The correlation between IBGS.L and EUNW.DE has been stable across timeframes, ranging from 0.57 to 0.67 - a consistent structural relationship.
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Return for Risk
IBGS.L vs. EUNW.DE — Risk / Return Rank
IBGS.L
EUNW.DE
IBGS.L vs. EUNW.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBGS.L) and iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (EUNW.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.
| IBGS.L | EUNW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.22 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 1.65 | -0.29 |
| Martin ratioReturn relative to average drawdown | 3.05 | 5.26 | -2.22 |
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
| IBGS.L | EUNW.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.85 | 1.24 | -0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 0.40 | -0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 0.48 | -0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.43 | -0.19 |
Drawdowns
IBGS.L vs. EUNW.DE - Drawdown Comparison
The maximum IBGS.L drawdown since its inception was -16.59%, smaller than the maximum EUNW.DE drawdown of -21.82%. Use the drawdown chart below to compare losses from any high point for IBGS.L and EUNW.DE.
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Drawdown Indicators
| IBGS.L | EUNW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.59% | -21.82% | +5.23% |
Max Drawdown (1Y)Largest decline over 1 year | -2.60% | -3.66% | +1.06% |
Max Drawdown (3Y)Largest decline over 3 years | -3.06% | -3.66% | +0.60% |
Max Drawdown (5Y)Largest decline over 5 years | -5.95% | -15.36% | +9.41% |
Max Drawdown (10Y)Largest decline over 10 years | -13.11% | -21.82% | +8.71% |
Current DrawdownCurrent decline from peak | -3.95% | -0.85% | -3.10% |
Average DrawdownAverage peak-to-trough decline | -5.92% | -4.59% | -1.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 1.15% | +0.01% |
Volatility
IBGS.L vs. EUNW.DE - Volatility Comparison
The current volatility for iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBGS.L) is 1.20%, while iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (EUNW.DE) has a volatility of 1.31%. This indicates that IBGS.L experiences smaller price fluctuations and is considered to be less risky than EUNW.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBGS.L | EUNW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.20% | 1.31% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | 3.69% | -0.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 4.89% | -0.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.34% | 6.95% | -1.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.09% | 8.54% | -1.45% |
IBGS.L vs. EUNW.DE - Expense Ratio Comparison
IBGS.L has a 0.15% expense ratio, which is lower than EUNW.DE's 0.50% expense ratio.
Dividends
IBGS.L vs. EUNW.DE - Dividend Comparison
IBGS.L's dividend yield for the trailing twelve months is around 2.18%, less than EUNW.DE's 5.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUNW.DE iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) | 5.17% | 5.45% | 6.09% | 5.41% | 3.70% | 3.07% | 3.67% | 3.75% | 3.68% | 3.78% | 4.03% | 4.59% |
IBGS.L iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 2.18% | 2.39% | 2.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.04% | 0.28% |
Frequently Asked Questions
IBGS.L and EUNW.DE have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBGS.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBGS.L is cheaper with a 0.15% expense ratio, compared with 0.50% for EUNW.DE.
IBGS.L is categorized as European Government Bonds, while EUNW.DE is European High Yield Bonds. IBGS.L tracks Bloomberg Euro Agg Govt 1-3 Yr TR EUR, while EUNW.DE tracks iBoxx® EUR Liquid High Yield. Their fees differ too: 0.15% for IBGS.L and 0.50% for EUNW.DE.
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