IBTU.L vs. EUNL.DE
IBTU.L (iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist)) and EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - IBTU.L is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index, while EUNL.DE is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 5 years, IBTU.L returned 3.38%/yr vs 11.45%/yr for EUNL.DE. At a 0.02 correlation, their price movements are largely independent. IBTU.L charges 0.07%/yr vs 0.20%/yr for EUNL.DE.
Performance
IBTU.L vs. EUNL.DE - Performance Comparison
Loading charts...
Different Trading Currencies
IBTU.L is traded in USD, while EUNL.DE is traded in EUR. To make them comparable, the EUNL.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IBTU.L achieves a 1.35% return, which is significantly lower than EUNL.DE's 8.25% return.
IBTU.L
- 1D
- 0.00%
- 1M
- 0.20%
- YTD
- 1.35%
- 6M
- 1.76%
- 1Y
- 3.93%
- 3Y*
- 4.69%
- 5Y*
- 3.38%
- 10Y*
- —
EUNL.DE
- 1D
- 1.55%
- 1M
- 0.77%
- YTD
- 8.25%
- 6M
- 9.53%
- 1Y
- 23.25%
- 3Y*
- 19.50%
- 5Y*
- 11.45%
- 10Y*
- 13.35%
IBTU.L vs. EUNL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 1.35% | 4.33% | 5.31% | 4.92% | 1.05% | 0.10% | 0.88% | 2.02% |
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 8.25% | 21.82% | 18.73% | 23.92% | -18.35% | 22.26% | 15.78% | 16.10% |
Correlation
The correlation between IBTU.L and EUNL.DE is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2019 | 0.02 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IBTU.L vs. EUNL.DE — Risk / Return Rank
IBTU.L
EUNL.DE
IBTU.L vs. EUNL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) 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.
| IBTU.L | EUNL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.47 | ||
| Sortino ratioReturn per unit of downside risk | +4.27 | ||
| Omega ratioGain probability vs. loss probability | 3.47 | 1.34 | +2.13 |
| Calmar ratioReturn relative to maximum drawdown | 19.33 | 2.74 | +16.59 |
| Martin ratioReturn relative to average drawdown | 83.95 | 11.51 | +72.44 |
Loading charts...
Drawdowns
IBTU.L vs. EUNL.DE - Drawdown Comparison
The maximum IBTU.L drawdown since its inception was -0.72%, smaller than the maximum EUNL.DE drawdown of -34.10%. Use the drawdown chart below to compare losses from any high point for IBTU.L and EUNL.DE.
Loading charts...
Drawdown Indicators
| IBTU.L | EUNL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.72% | -34.10% | +33.38% |
Max Drawdown (1Y)Largest decline over 1 year | -0.20% | -8.45% | +8.25% |
Max Drawdown (3Y)Largest decline over 3 years | -0.20% | -17.99% | +17.79% |
Max Drawdown (5Y)Largest decline over 5 years | -0.40% | -25.82% | +25.42% |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.10% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.67% | +1.67% |
Average DrawdownAverage peak-to-trough decline | -0.06% | -4.67% | +4.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 2.01% | -1.96% |
Volatility
IBTU.L vs. EUNL.DE - Volatility Comparison
The current volatility for iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) is 0.35%, while iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) has a volatility of 3.52%. This indicates that IBTU.L 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.
Loading charts...
Volatility by Period
| IBTU.L | EUNL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.35% | 3.52% | -3.17% |
Volatility (6M)Calculated over the trailing 6-month period | 0.82% | 9.02% | -8.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.15% | 11.94% | -10.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.01% | 15.59% | -14.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.95% | 15.94% | -14.99% |
IBTU.L vs. EUNL.DE - Expense Ratio Comparison
IBTU.L has a 0.07% 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
IBTU.L vs. EUNL.DE - Dividend Comparison
IBTU.L's dividend yield for the trailing twelve months is around 4.07%, while EUNL.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
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% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.07% | 4.43% | 6.82% | 3.99% | 0.44% | 0.10% | 1.28% | 1.21% |
Frequently Asked Questions
IBTU.L and EUNL.DE have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTU.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTU.L is cheaper with a 0.07% expense ratio, compared with 0.20% for EUNL.DE.
IBTU.L is categorized as Government Bonds, while EUNL.DE is Global Equities. IBTU.L tracks ICE U.S. Treasury Short Bond Index, while EUNL.DE tracks MSCI World Index. Their fees differ too: 0.07% for IBTU.L and 0.20% for EUNL.DE.
Find the right allocation for IBTU.L and EUNL.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer