IQQW.DE vs. EUNL.DE
IQQW.DE (iShares MSCI World UCITS ETF USD (Dist)) and EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) are both Global Equities funds from iShares tracking the MSCI World Index. Both are passively managed. Over the past 10 years, IQQW.DE returned 12.69%/yr vs 13.01%/yr for EUNL.DE. With a 0.97 correlation, they move nearly in lockstep. IQQW.DE charges 0.50%/yr vs 0.20%/yr for EUNL.DE.
Performance
IQQW.DE vs. EUNL.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IQQW.DE having a 12.38% return and EUNL.DE slightly higher at 12.51%. Both investments have delivered pretty close results over the past 10 years, with IQQW.DE having a 12.69% annualized return and EUNL.DE not far ahead at 13.01%.
IQQW.DE
- 1D
- 0.43%
- 1M
- 1.51%
- 6M
- 12.34%
- YTD
- 12.38%
- 1Y
- 23.86%
- 3Y*
- 17.17%
- 5Y*
- 11.94%
- 10Y*
- 12.69%
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%
IQQW.DE vs. EUNL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IQQW.DE iShares MSCI World UCITS ETF USD (Dist) | 12.38% | 7.59% | 25.52% | 19.92% | -13.90% | 32.21% | 5.13% | 30.90% | -5.28% | 7.45% |
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 IQQW.DE and EUNL.DE is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2009 | 0.97 |
The correlation between IQQW.DE and EUNL.DE has been stable across timeframes, ranging from 0.97 to 1.00 - a consistent structural relationship.
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Return for Risk
IQQW.DE vs. EUNL.DE — Risk / Return Rank
IQQW.DE
EUNL.DE
IQQW.DE vs. EUNL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI World UCITS ETF USD (Dist) (IQQW.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.
| IQQW.DE | EUNL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.39 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.60 | 3.88 | -0.28 |
| Martin ratioReturn relative to average drawdown | 14.30 | 15.65 | -1.35 |
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Drawdowns
IQQW.DE vs. EUNL.DE - Drawdown Comparison
The maximum IQQW.DE drawdown since its inception was -52.35%, 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 IQQW.DE and EUNL.DE.
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Drawdown Indicators
| IQQW.DE | EUNL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.35% | -33.63% | -18.72% |
Max Drawdown (1Y)Largest decline over 1 year | -6.61% | -6.22% | -0.39% |
Max Drawdown (3Y)Largest decline over 3 years | -21.66% | -21.73% | +0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -21.66% | -21.73% | +0.07% |
Max Drawdown (10Y)Largest decline over 10 years | -33.65% | -33.63% | -0.02% |
Current DrawdownCurrent decline from peak | -0.10% | -0.10% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -9.01% | -4.21% | -4.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.66% | 1.54% | +0.12% |
Volatility
IQQW.DE vs. EUNL.DE - Volatility Comparison
iShares MSCI World UCITS ETF USD (Dist) (IQQW.DE) and iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) have volatilities of 3.28% and 3.21%, 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
| IQQW.DE | EUNL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.28% | 3.21% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 7.96% | 7.97% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.26% | 11.33% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.17% | 14.19% | -0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.03% | 15.11% | -0.08% |
IQQW.DE vs. EUNL.DE - Expense Ratio Comparison
IQQW.DE has a 0.50% expense ratio, which is higher than EUNL.DE's 0.20% expense ratio.
Dividends
IQQW.DE vs. EUNL.DE - Dividend Comparison
IQQW.DE's dividend yield for the trailing twelve months is around 0.86%, 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% |
IQQW.DE iShares MSCI World UCITS ETF USD (Dist) | 0.86% | 0.95% | 1.05% | 1.32% | 1.49% | 1.01% | 1.21% | 1.60% | 1.84% | 1.66% | 1.70% | 1.80% |
Frequently Asked Questions
With a correlation of 0.99, IQQW.DE and EUNL.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 0.50% for IQQW.DE.
Both ETFs track MSCI World Index. Their fees differ too: 0.50% for IQQW.DE and 0.20% for EUNL.DE.
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