IS3S.DE vs. EUNL.DE
IS3S.DE (iShares Edge MSCI World Value Factor UCITS ETF) and EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) are both Global Equities funds from iShares - IS3S.DE tracks the MSCI World Enhanced Value while EUNL.DE tracks the MSCI World Index. Both are passively managed. Over the past 10 years, IS3S.DE returned 12.60%/yr vs 12.82%/yr for EUNL.DE. Their correlation of 0.88 suggests significant overlap in exposure. IS3S.DE charges 0.30%/yr vs 0.20%/yr for EUNL.DE.
Performance
IS3S.DE vs. EUNL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS3S.DE achieves a 35.27% return, which is significantly higher than EUNL.DE's 10.86% return. Both investments have delivered pretty close results over the past 10 years, with IS3S.DE having a 12.60% annualized return and EUNL.DE not far ahead at 12.82%.
IS3S.DE
- 1D
- -0.83%
- 1M
- 11.04%
- YTD
- 35.27%
- 6M
- 38.20%
- 1Y
- 63.38%
- 3Y*
- 26.82%
- 5Y*
- 17.35%
- 10Y*
- 12.60%
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%
IS3S.DE vs. EUNL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IS3S.DE iShares Edge MSCI World Value Factor UCITS ETF | 35.27% | 25.13% | 11.36% | 15.62% | -4.81% | 30.38% | -12.53% | 22.01% | -10.34% | 7.66% |
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 IS3S.DE and EUNL.DE is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Oct 8, 2014 | 0.88 |
The correlation between IS3S.DE and EUNL.DE has been stable across timeframes, ranging from 0.78 to 0.88 - a consistent structural relationship.
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Return for Risk
IS3S.DE vs. EUNL.DE — Risk / Return Rank
IS3S.DE
EUNL.DE
IS3S.DE vs. EUNL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Value Factor UCITS ETF (IS3S.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.
| IS3S.DE | EUNL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.41 | ||
| Sortino ratioReturn per unit of downside risk | +3.16 | ||
| Omega ratioGain probability vs. loss probability | 1.83 | 1.40 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 10.36 | 3.64 | +6.71 |
| Martin ratioReturn relative to average drawdown | 39.01 | 14.52 | +24.49 |
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
| IS3S.DE | EUNL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.53 | 2.12 | +2.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.24 | 0.90 | +0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | 0.84 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.82 | -0.13 |
Drawdowns
IS3S.DE vs. EUNL.DE - Drawdown Comparison
The maximum IS3S.DE drawdown since its inception was -35.18%, roughly equal to the maximum EUNL.DE drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for IS3S.DE and EUNL.DE.
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Drawdown Indicators
| IS3S.DE | EUNL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.18% | -33.63% | -1.55% |
Max Drawdown (1Y)Largest decline over 1 year | -6.09% | -6.50% | +0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -17.80% | -21.73% | +3.93% |
Max Drawdown (5Y)Largest decline over 5 years | -17.80% | -21.73% | +3.93% |
Max Drawdown (10Y)Largest decline over 10 years | -35.18% | -33.63% | -1.55% |
Current DrawdownCurrent decline from peak | -0.83% | -0.31% | -0.52% |
Average DrawdownAverage peak-to-trough decline | -5.82% | -4.25% | -1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.62% | 1.64% | -0.02% |
Volatility
IS3S.DE vs. EUNL.DE - Volatility Comparison
iShares Edge MSCI World Value Factor UCITS ETF (IS3S.DE) has a higher volatility of 5.62% compared to iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) at 2.62%. This indicates that IS3S.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
| IS3S.DE | EUNL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.62% | 2.62% | +3.00% |
Volatility (6M)Calculated over the trailing 6-month period | 11.32% | 7.72% | +3.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.93% | 11.16% | +2.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.85% | 14.17% | -0.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.76% | 15.17% | +0.59% |
IS3S.DE vs. EUNL.DE - Expense Ratio Comparison
IS3S.DE has a 0.30% expense ratio, which is higher than EUNL.DE's 0.20% expense ratio.
Dividends
IS3S.DE vs. EUNL.DE - Dividend Comparison
Neither IS3S.DE nor EUNL.DE has paid dividends to shareholders.
Frequently Asked Questions
IS3S.DE and EUNL.DE have a correlation of 0.79, 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 0.30% for IS3S.DE.
IS3S.DE tracks MSCI World Enhanced Value, while EUNL.DE tracks MSCI World Index. Their fees differ too: 0.30% for IS3S.DE and 0.20% for EUNL.DE.
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