IS3L.DE vs. EUNA.DE
IS3L.DE (iShares $ Ultrashort Bond UCITS ETF USD (Dist)) and EUNA.DE (iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc) are both exchange-traded funds - IS3L.DE is a Ultrashort Bond fund tracking the iBoxx USD Liquid Investment Grade Ultrashort Index, 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, IS3L.DE returned 4.53%/yr vs -1.36%/yr for EUNA.DE. At a correlation of -0.15, they often move in opposite directions. IS3L.DE charges 0.09%/yr vs 0.10%/yr for EUNA.DE.
Performance
IS3L.DE vs. EUNA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS3L.DE achieves a 4.85% return, which is significantly higher than EUNA.DE's -0.40% return.
IS3L.DE
- 1D
- 0.07%
- 1M
- 1.79%
- 6M
- 4.65%
- YTD
- 4.85%
- 1Y
- 7.12%
- 3Y*
- 3.43%
- 5Y*
- 4.53%
- 10Y*
- 2.44%
EUNA.DE
- 1D
- -0.20%
- 1M
- 0.41%
- 6M
- 0.20%
- YTD
- -0.40%
- 1Y
- 0.82%
- 3Y*
- 2.34%
- 5Y*
- -1.36%
- 10Y*
- —
IS3L.DE vs. EUNA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IS3L.DE iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 4.85% | -7.06% | 11.88% | 1.83% | 7.62% | 8.58% | -7.79% | 5.65% | 6.82% | -1.94% |
EUNA.DE iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc | -0.40% | 2.91% | 1.48% | 4.41% | -13.52% | -2.42% | 3.86% | 5.07% | -1.20% | -0.20% |
Correlation
The correlation between IS3L.DE and EUNA.DE is -0.33, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.23 |
Correlation (All Time) Calculated using the full available price history since Nov 21, 2017 | -0.15 |
The correlation between IS3L.DE and EUNA.DE shifts across timeframes, from -0.33 (1 year) to -0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IS3L.DE vs. EUNA.DE — Risk / Return Rank
IS3L.DE
EUNA.DE
IS3L.DE vs. EUNA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Ultrashort Bond UCITS ETF USD (Dist) (IS3L.DE) 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.
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.
| IS3L.DE | EUNA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.96 | ||
| Sortino ratioReturn per unit of downside risk | +1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.04 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 0.29 | +1.85 |
| Martin ratioReturn relative to average drawdown | 5.14 | 0.78 | +4.36 |
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Drawdowns
IS3L.DE vs. EUNA.DE - Drawdown Comparison
The maximum IS3L.DE drawdown since its inception was -28.17%, which is greater than EUNA.DE's maximum drawdown of -17.81%. Use the drawdown chart below to compare losses from any high point for IS3L.DE and EUNA.DE.
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Drawdown Indicators
| IS3L.DE | EUNA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.17% | -17.81% | -10.36% |
Max Drawdown (1Y)Largest decline over 1 year | -3.32% | -2.80% | -0.52% |
Max Drawdown (3Y)Largest decline over 3 years | -11.38% | -4.11% | -7.27% |
Max Drawdown (5Y)Largest decline over 5 years | -11.38% | -17.04% | +5.66% |
Max Drawdown (10Y)Largest decline over 10 years | -19.28% | — | — |
Current DrawdownCurrent decline from peak | -4.88% | -8.53% | +3.65% |
Average DrawdownAverage peak-to-trough decline | -9.19% | -6.71% | -2.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.38% | 1.05% | +0.33% |
Volatility
IS3L.DE vs. EUNA.DE - Volatility Comparison
iShares $ Ultrashort Bond UCITS ETF USD (Dist) (IS3L.DE) has a higher volatility of 1.60% compared to iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (EUNA.DE) at 0.86%. This indicates that IS3L.DE's price experiences larger fluctuations and is considered to be riskier than EUNA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IS3L.DE | EUNA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.60% | 0.86% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 4.25% | 2.83% | +1.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.04% | 3.73% | +2.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.42% | 4.84% | +2.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.54% | 4.44% | +6.10% |
IS3L.DE vs. EUNA.DE - Expense Ratio Comparison
IS3L.DE has a 0.09% expense ratio, which is lower than EUNA.DE's 0.10% 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
IS3L.DE vs. EUNA.DE - Dividend Comparison
IS3L.DE's dividend yield for the trailing twelve months is around 4.25%, while EUNA.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUNA.DE iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) 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% |
IS3L.DE iShares $ Ultrashort Bond UCITS ETF USD (Dist) | 4.25% | 4.74% | 5.44% | 5.05% | 1.59% | 0.47% | 1.64% | 2.71% | 2.19% | 1.45% | 0.97% | 0.72% |
Frequently Asked Questions
IS3L.DE and EUNA.DE have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IS3L.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS3L.DE is cheaper with a 0.09% expense ratio, compared with 0.10% for EUNA.DE.
IS3L.DE is categorized as Ultrashort Bond, while EUNA.DE is Global Bonds. IS3L.DE tracks iBoxx USD Liquid Investment Grade Ultrashort Index, while EUNA.DE tracks Bloomberg Global Aggregate Bond (EUR Hedged). Their fees differ too: 0.09% for IS3L.DE and 0.10% for EUNA.DE.
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