IUSQ.DE vs. EUNL.DE
IUSQ.DE (iShares MSCI ACWI UCITS ETF (Acc)) and EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) are both Global Equities funds from iShares - IUSQ.DE tracks the MSCI All Country World (ACWI) while EUNL.DE tracks the MSCI World Index. Both are passively managed. Over the past 10 years, IUSQ.DE returned 12.38%/yr vs 12.82%/yr for EUNL.DE. With a 0.97 correlation, they move nearly in lockstep. Both charge a 0.20% expense ratio.
Performance
IUSQ.DE vs. EUNL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IUSQ.DE achieves a 12.65% 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 IUSQ.DE having a 12.38% annualized return and EUNL.DE not far ahead at 12.82%.
IUSQ.DE
- 1D
- -0.23%
- 1M
- 3.68%
- YTD
- 12.65%
- 6M
- 12.87%
- 1Y
- 26.39%
- 3Y*
- 17.93%
- 5Y*
- 12.42%
- 10Y*
- 12.38%
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%
IUSQ.DE vs. EUNL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IUSQ.DE iShares MSCI ACWI UCITS ETF (Acc) | 12.65% | 9.02% | 24.53% | 18.57% | -13.58% | 29.13% | 4.94% | 30.14% | -5.97% | 9.14% |
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 IUSQ.DE and EUNL.DE is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2011 | 0.97 |
The correlation between IUSQ.DE and EUNL.DE has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
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Return for Risk
IUSQ.DE vs. EUNL.DE — Risk / Return Rank
IUSQ.DE
EUNL.DE
IUSQ.DE vs. EUNL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI UCITS ETF (Acc) (IUSQ.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.
| IUSQ.DE | EUNL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.40 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.08 | 3.64 | +0.44 |
| Martin ratioReturn relative to average drawdown | 16.69 | 14.52 | +2.18 |
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
| IUSQ.DE | EUNL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.31 | 2.12 | +0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.88 | 0.90 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.82 | 0.84 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.82 | -0.06 |
Drawdowns
IUSQ.DE vs. EUNL.DE - Drawdown Comparison
The maximum IUSQ.DE drawdown since its inception was -33.60%, roughly equal to the maximum EUNL.DE drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for IUSQ.DE and EUNL.DE.
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Drawdown Indicators
| IUSQ.DE | EUNL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.60% | -33.63% | +0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -6.48% | -6.50% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -21.25% | -21.73% | +0.48% |
Max Drawdown (5Y)Largest decline over 5 years | -21.25% | -21.73% | +0.48% |
Max Drawdown (10Y)Largest decline over 10 years | -33.60% | -33.63% | +0.03% |
Current DrawdownCurrent decline from peak | -0.55% | -0.31% | -0.24% |
Average DrawdownAverage peak-to-trough decline | -4.19% | -4.25% | +0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 1.64% | -0.05% |
Volatility
IUSQ.DE vs. EUNL.DE - Volatility Comparison
iShares MSCI ACWI UCITS ETF (Acc) (IUSQ.DE) has a higher volatility of 3.03% compared to iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) at 2.62%. This indicates that IUSQ.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
| IUSQ.DE | EUNL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.03% | 2.62% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 8.26% | 7.72% | +0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.47% | 11.16% | +0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.94% | 14.17% | -0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.02% | 15.17% | -0.15% |
IUSQ.DE vs. EUNL.DE - Expense Ratio Comparison
Both IUSQ.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
IUSQ.DE vs. EUNL.DE - Dividend Comparison
Neither IUSQ.DE nor EUNL.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, IUSQ.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.
Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IUSQ.DE and EUNL.DE have the same expense ratio: 0.20% per year.
IUSQ.DE tracks MSCI All Country World (ACWI), while EUNL.DE tracks MSCI World Index.
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