ICGA.DE vs. EUNL.DE
ICGA.DE (iShares MSCI China UCITS ETF USD Acc) and EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - ICGA.DE is a China Equities fund tracking the MSCI China, while EUNL.DE is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 5 years, ICGA.DE returned -4.32%/yr vs 12.89%/yr for EUNL.DE. At a 0.44 correlation, their price movements are largely independent. ICGA.DE charges 0.28%/yr vs 0.20%/yr for EUNL.DE.
Performance
ICGA.DE vs. EUNL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ICGA.DE achieves a -6.86% return, which is significantly lower than EUNL.DE's 10.86% return.
ICGA.DE
- 1D
- -0.54%
- 1M
- -2.09%
- YTD
- -6.86%
- 6M
- -8.51%
- 1Y
- 2.73%
- 3Y*
- 7.72%
- 5Y*
- -4.32%
- 10Y*
- —
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%
ICGA.DE vs. EUNL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ICGA.DE iShares MSCI China UCITS ETF USD Acc | -6.86% | 16.64% | 27.28% | -14.71% | -15.17% | -17.27% | 15.31% | 14.05% |
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 10.86% | 7.90% | 25.93% | 20.13% | -13.59% | 32.71% | 5.48% | 11.69% |
Correlation
The correlation between ICGA.DE and EUNL.DE is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2019 | 0.44 |
The correlation between ICGA.DE and EUNL.DE shifts across timeframes, from 0.34 (3 years) to 0.44 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ICGA.DE vs. EUNL.DE — Risk / Return Rank
ICGA.DE
EUNL.DE
ICGA.DE vs. EUNL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China UCITS ETF USD Acc (ICGA.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.
| ICGA.DE | EUNL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.98 | ||
| Sortino ratioReturn per unit of downside risk | -2.63 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.40 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 0.16 | 3.64 | -3.48 |
| Martin ratioReturn relative to average drawdown | 0.34 | 14.52 | -14.18 |
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
| ICGA.DE | EUNL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.15 | 2.12 | -1.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.15 | 0.90 | -1.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.84 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | 0.82 | -0.77 |
Drawdowns
ICGA.DE vs. EUNL.DE - Drawdown Comparison
The maximum ICGA.DE drawdown since its inception was -55.95%, 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 ICGA.DE and EUNL.DE.
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Drawdown Indicators
| ICGA.DE | EUNL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.95% | -33.63% | -22.32% |
Max Drawdown (1Y)Largest decline over 1 year | -16.84% | -6.50% | -10.34% |
Max Drawdown (3Y)Largest decline over 3 years | -24.41% | -21.73% | -2.68% |
Max Drawdown (5Y)Largest decline over 5 years | -49.32% | -21.73% | -27.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.63% | — |
Current DrawdownCurrent decline from peak | -32.56% | -0.31% | -32.25% |
Average DrawdownAverage peak-to-trough decline | -28.80% | -4.25% | -24.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.08% | 1.64% | +6.44% |
Volatility
ICGA.DE vs. EUNL.DE - Volatility Comparison
iShares MSCI China UCITS ETF USD Acc (ICGA.DE) has a higher volatility of 7.19% compared to iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) at 2.62%. This indicates that ICGA.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
| ICGA.DE | EUNL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.19% | 2.62% | +4.57% |
Volatility (6M)Calculated over the trailing 6-month period | 13.31% | 7.72% | +5.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.64% | 11.16% | +7.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.66% | 14.17% | +13.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.97% | 15.17% | +11.80% |
ICGA.DE vs. EUNL.DE - Expense Ratio Comparison
ICGA.DE has a 0.28% expense ratio, which is higher than EUNL.DE's 0.20% expense ratio.
Dividends
ICGA.DE vs. EUNL.DE - Dividend Comparison
Neither ICGA.DE nor EUNL.DE has paid dividends to shareholders.
Frequently Asked Questions
ICGA.DE and EUNL.DE have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNL.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNL.DE is cheaper with a 0.20% expense ratio, compared with 0.28% for ICGA.DE.
ICGA.DE is categorized as China Equities, while EUNL.DE is Global Equities. ICGA.DE tracks MSCI China, while EUNL.DE tracks MSCI World Index. Their fees differ too: 0.28% for ICGA.DE and 0.20% for EUNL.DE.
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