IEAA.L vs. EUNA.DE
IEAA.L (iShares Core Euro Corporate Bond UCITS ETF (Acc)) and EUNA.DE (iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc) are both exchange-traded funds - IEAA.L is a European Corporate Bonds fund tracking the Bloomberg Euro Corp TR EUR, 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, IEAA.L returned 0.09%/yr vs -1.29%/yr for EUNA.DE. A 0.63 correlation means they provide meaningful diversification when combined. IEAA.L charges 0.20%/yr vs 0.10%/yr for EUNA.DE.
Performance
IEAA.L vs. EUNA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IEAA.L achieves a 0.56% return, which is significantly higher than EUNA.DE's -0.46% return.
IEAA.L
- 1D
- 0.13%
- 1M
- 0.35%
- YTD
- 0.56%
- 6M
- 0.50%
- 1Y
- 2.22%
- 3Y*
- 4.59%
- 5Y*
- 0.09%
- 10Y*
- —
EUNA.DE
- 1D
- 0.22%
- 1M
- -0.12%
- YTD
- -0.46%
- 6M
- -0.07%
- 1Y
- 1.32%
- 3Y*
- 2.28%
- 5Y*
- -1.29%
- 10Y*
- —
IEAA.L vs. EUNA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEAA.L iShares Core Euro Corporate Bond UCITS ETF (Acc) | 0.56% | 3.10% | 4.31% | 7.51% | -13.40% | -1.11% | 2.70% | 6.24% | -1.48% | -0.47% |
EUNA.DE iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc | -0.46% | 2.79% | 1.60% | 4.36% | -13.52% | -2.37% | 3.70% | 5.06% | -1.17% | -0.54% |
Correlation
The correlation between IEAA.L and EUNA.DE is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2017 | 0.63 |
The correlation between IEAA.L and EUNA.DE has been stable across timeframes, ranging from 0.63 to 0.72 - a consistent structural relationship.
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Return for Risk
IEAA.L vs. EUNA.DE — Risk / Return Rank
IEAA.L
EUNA.DE
IEAA.L vs. EUNA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Euro Corporate Bond UCITS ETF (Acc) (IEAA.L) 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.
| IEAA.L | EUNA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.06 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.72 | 0.43 | +0.29 |
| Martin ratioReturn relative to average drawdown | 2.55 | 1.18 | +1.37 |
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
| IEAA.L | EUNA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.63 | 0.34 | +0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | -0.28 | +0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | -0.05 | +0.23 |
Drawdowns
IEAA.L vs. EUNA.DE - Drawdown Comparison
The maximum IEAA.L drawdown since its inception was -17.29%, roughly equal to the maximum EUNA.DE drawdown of -17.79%. Use the drawdown chart below to compare losses from any high point for IEAA.L and EUNA.DE.
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Drawdown Indicators
| IEAA.L | EUNA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.29% | -17.79% | +0.50% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -2.75% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -2.73% | -4.02% | +1.29% |
Max Drawdown (5Y)Largest decline over 5 years | -17.29% | -17.03% | -0.26% |
Current DrawdownCurrent decline from peak | -1.07% | -8.66% | +7.59% |
Average DrawdownAverage peak-to-trough decline | -4.56% | -6.76% | +2.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 0.99% | -0.22% |
Volatility
IEAA.L vs. EUNA.DE - Volatility Comparison
iShares Core Euro Corporate Bond UCITS ETF (Acc) (IEAA.L) and iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (EUNA.DE) have volatilities of 1.30% and 1.35%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEAA.L | EUNA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.30% | 1.35% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 2.82% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.11% | 3.46% | -0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.47% | 4.64% | -0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.68% | 4.27% | +0.41% |
IEAA.L vs. EUNA.DE - Expense Ratio Comparison
IEAA.L has a 0.20% expense ratio, which is higher than EUNA.DE's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IEAA.L vs. EUNA.DE - Dividend Comparison
Neither IEAA.L nor EUNA.DE has paid dividends to shareholders.
Frequently Asked Questions
IEAA.L and EUNA.DE have a correlation of 0.70, 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 0.20% for IEAA.L.
IEAA.L is categorized as European Corporate Bonds, while EUNA.DE is Global Bonds. IEAA.L tracks Bloomberg Euro Corp TR EUR, while EUNA.DE tracks Bloomberg Global Aggregate Bond (EUR Hedged). Their fees differ too: 0.20% for IEAA.L and 0.10% for EUNA.DE.
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