L8I3.DE vs. E0UA.DE
L8I3.DE (Amundi EUR Overnight Return UCITS ETF (Acc)) and E0UA.DE (iShares Euro Government Bond 0-3 Month UCITS ETF EUR (Acc)) are both Money Market funds - L8I3.DE tracks the Solactive EUR Overnight Return Index while E0UA.DE tracks the ICE 0-3 Month Euro Government Bill Index. Both are passively managed. Over the past year, L8I3.DE returned 2.00% vs 1.96% for E0UA.DE. At a 0.11 correlation, their price movements are largely independent. L8I3.DE charges 0.10%/yr vs 0.07%/yr for E0UA.DE.
Performance
L8I3.DE vs. E0UA.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with L8I3.DE having a 1.03% return and E0UA.DE slightly lower at 1.00%.
L8I3.DE
- 1D
- -0.01%
- 1M
- 0.20%
- 6M
- 0.97%
- YTD
- 1.03%
- 1Y
- 2.00%
- 3Y*
- 2.93%
- 5Y*
- 1.92%
- 10Y*
- 0.67%
E0UA.DE
- 1D
- 0.00%
- 1M
- 0.18%
- 6M
- 1.00%
- YTD
- 1.00%
- 1Y
- 1.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
L8I3.DE vs. E0UA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
L8I3.DE Amundi EUR Overnight Return UCITS ETF (Acc) | 1.03% | 2.21% | 0.26% |
E0UA.DE iShares Euro Government Bond 0-3 Month UCITS ETF EUR (Acc) | 1.00% | 2.15% | 0.26% |
Correlation
The correlation between L8I3.DE and E0UA.DE is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Nov 29, 2024 | 0.11 |
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Return for Risk
L8I3.DE vs. E0UA.DE — Risk / Return Rank
L8I3.DE
E0UA.DE
L8I3.DE vs. E0UA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi EUR Overnight Return UCITS ETF (Acc) (L8I3.DE) and iShares Euro Government Bond 0-3 Month UCITS ETF EUR (Acc) (E0UA.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.
| L8I3.DE | E0UA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.90 | ||
| Sortino ratioReturn per unit of downside risk | +7.84 | ||
| Omega ratioGain probability vs. loss probability | 2.77 | 2.32 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 45.01 | 8.94 | +36.06 |
| Martin ratioReturn relative to average drawdown | 172.38 | 28.82 | +143.56 |
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Drawdowns
L8I3.DE vs. E0UA.DE - Drawdown Comparison
The maximum L8I3.DE drawdown since its inception was -3.92%, which is greater than E0UA.DE's maximum drawdown of -0.22%. Use the drawdown chart below to compare losses from any high point for L8I3.DE and E0UA.DE.
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Drawdown Indicators
| L8I3.DE | E0UA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.92% | -0.22% | -3.70% |
Max Drawdown (1Y)Largest decline over 1 year | -0.04% | -0.22% | +0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -0.07% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -0.78% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -3.59% | — | — |
Current DrawdownCurrent decline from peak | -0.01% | -0.01% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.89% | -0.03% | -0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 0.07% | -0.06% |
Volatility
L8I3.DE vs. E0UA.DE - Volatility Comparison
Amundi EUR Overnight Return UCITS ETF (Acc) (L8I3.DE) and iShares Euro Government Bond 0-3 Month UCITS ETF EUR (Acc) (E0UA.DE) have volatilities of 0.07% and 0.07%, 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
| L8I3.DE | E0UA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.07% | 0.07% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 0.21% | 0.41% | -0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.32% | 0.60% | -0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.26% | 0.54% | -0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.21% | 0.54% | -0.33% |
L8I3.DE vs. E0UA.DE - Expense Ratio Comparison
L8I3.DE has a 0.10% expense ratio, which is higher than E0UA.DE's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
L8I3.DE vs. E0UA.DE - Dividend Comparison
Neither L8I3.DE nor E0UA.DE has paid dividends to shareholders.
Frequently Asked Questions
L8I3.DE and E0UA.DE have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, E0UA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
E0UA.DE is cheaper with a 0.07% expense ratio, compared with 0.10% for L8I3.DE.
L8I3.DE tracks Solactive EUR Overnight Return Index, while E0UA.DE tracks ICE 0-3 Month Euro Government Bill Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.10% for L8I3.DE and 0.07% for E0UA.DE.
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