IS0Z.DE vs. EUNL.DE
IS0Z.DE (iShares Global AAA-AA Government Bond UCITS ETF (Dist)) and EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - IS0Z.DE is a Global Bonds fund tracking the Bloomberg Global Government AAA-AA Capped Bond, while EUNL.DE is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 10 years, IS0Z.DE returned -0.58%/yr vs 12.82%/yr for EUNL.DE. At a 0.13 correlation, their price movements are largely independent. Both charge a 0.20% expense ratio.
Performance
IS0Z.DE vs. EUNL.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IS0Z.DE achieves a 1.29% return, which is significantly lower than EUNL.DE's 10.86% return. Over the past 10 years, IS0Z.DE has underperformed EUNL.DE with an annualized return of -0.58%, while EUNL.DE has yielded a comparatively higher 12.82% annualized return.
IS0Z.DE
- 1D
- 0.06%
- 1M
- 0.78%
- YTD
- 1.29%
- 6M
- 1.06%
- 1Y
- 0.23%
- 3Y*
- 1.18%
- 5Y*
- -2.11%
- 10Y*
- -0.58%
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%
IS0Z.DE vs. EUNL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IS0Z.DE iShares Global AAA-AA Government Bond UCITS ETF (Dist) | 1.29% | -1.88% | 0.75% | 4.39% | -16.12% | -0.07% | 2.03% | 7.04% | 1.73% | -3.57% |
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 10.86% | 7.90% | 25.93% | 20.13% | -13.59% | 32.71% | 5.48% | 31.34% | -5.13% | 7.71% |
Correlation
The correlation between IS0Z.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 | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2012 | 0.13 |
Over the past year, IS0Z.DE and EUNL.DE have become more correlated (0.41) than their long-term average of 0.13, meaning their price movements have been converging.
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
IS0Z.DE vs. EUNL.DE — Risk / Return Rank
IS0Z.DE
EUNL.DE
IS0Z.DE vs. EUNL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global AAA-AA Government Bond UCITS ETF (Dist) (IS0Z.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.
| IS0Z.DE | EUNL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.06 | ||
| Sortino ratioReturn per unit of downside risk | -2.86 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.40 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | 0.09 | 3.64 | -3.55 |
| Martin ratioReturn relative to average drawdown | 0.19 | 14.52 | -14.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IS0Z.DE | EUNL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.06 | 2.12 | -2.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.34 | 0.90 | -1.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.10 | 0.84 | -0.94 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.05 | 0.82 | -0.77 |
Drawdowns
IS0Z.DE vs. EUNL.DE - Drawdown Comparison
The maximum IS0Z.DE drawdown since its inception was -21.02%, smaller than the maximum EUNL.DE drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for IS0Z.DE and EUNL.DE.
Loading charts...
Drawdown Indicators
| IS0Z.DE | EUNL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.02% | -33.63% | +12.61% |
Max Drawdown (1Y)Largest decline over 1 year | -2.50% | -6.50% | +4.00% |
Max Drawdown (3Y)Largest decline over 3 years | -5.11% | -21.73% | +16.62% |
Max Drawdown (5Y)Largest decline over 5 years | -19.65% | -21.73% | +2.08% |
Max Drawdown (10Y)Largest decline over 10 years | -21.02% | -33.63% | +12.61% |
Current DrawdownCurrent decline from peak | -15.06% | -0.31% | -14.75% |
Average DrawdownAverage peak-to-trough decline | -7.48% | -4.25% | -3.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 1.64% | -0.43% |
Volatility
IS0Z.DE vs. EUNL.DE - Volatility Comparison
The current volatility for iShares Global AAA-AA Government Bond UCITS ETF (Dist) (IS0Z.DE) is 1.69%, while iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) has a volatility of 2.62%. This indicates that IS0Z.DE 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
| IS0Z.DE | EUNL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.69% | 2.62% | -0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 3.07% | 7.72% | -4.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 11.16% | -7.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.19% | 14.17% | -7.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.66% | 15.17% | -9.51% |
IS0Z.DE vs. EUNL.DE - Expense Ratio Comparison
Both IS0Z.DE and EUNL.DE have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IS0Z.DE vs. EUNL.DE - Dividend Comparison
IS0Z.DE's dividend yield for the trailing twelve months is around 2.67%, 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% |
IS0Z.DE iShares Global AAA-AA Government Bond UCITS ETF (Dist) | 2.67% | 2.51% | 2.30% | 1.57% | 0.80% | 0.47% | 0.62% | 0.88% | 0.90% | 0.82% | 0.84% | 1.06% |
Frequently Asked Questions
IS0Z.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.
Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IS0Z.DE and EUNL.DE have the same expense ratio: 0.20% per year.
IS0Z.DE is categorized as Global Bonds, while EUNL.DE is Global Equities. IS0Z.DE tracks Bloomberg Global Government AAA-AA Capped Bond, while EUNL.DE tracks MSCI World Index.
Find the right allocation for IS0Z.DE 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