MACV.DE vs. EUNA.DE
MACV.DE (iShares Conservative Portfolio UCITS ETF EUR (Acc)) and EUNA.DE (iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc) are both exchange-traded funds - MACV.DE is a Global Allocation fund actively managed by iShares, while EUNA.DE is a Global Bonds fund tracking the Bloomberg Global Aggregate Bond (EUR Hedged). MACV.DE is actively managed, while EUNA.DE is passively managed. Over the past 5 years, MACV.DE returned 0.68%/yr vs -1.36%/yr for EUNA.DE. At a 0.49 correlation, their price movements are largely independent. MACV.DE charges 0.25%/yr vs 0.10%/yr for EUNA.DE.
Performance
MACV.DE vs. EUNA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, MACV.DE achieves a 3.65% return, which is significantly higher than EUNA.DE's -0.40% return.
MACV.DE
- 1D
- 0.00%
- 1M
- 0.19%
- 6M
- 3.65%
- YTD
- 3.65%
- 1Y
- 6.72%
- 3Y*
- 5.11%
- 5Y*
- 0.68%
- 10Y*
- —
EUNA.DE
- 1D
- -0.20%
- 1M
- 0.41%
- 6M
- 0.20%
- YTD
- -0.40%
- 1Y
- 0.82%
- 3Y*
- 2.34%
- 5Y*
- -1.36%
- 10Y*
- —
MACV.DE vs. EUNA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MACV.DE iShares Conservative Portfolio UCITS ETF EUR (Acc) | 3.65% | 4.83% | 3.33% | 5.02% | -13.58% | 3.11% | 2.65% |
EUNA.DE iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc | -0.40% | 2.91% | 1.48% | 4.41% | -13.52% | -2.42% | 0.37% |
Correlation
The correlation between MACV.DE and EUNA.DE is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2020 | 0.49 |
The correlation between MACV.DE and EUNA.DE has been stable across timeframes, ranging from 0.47 to 0.57 - a consistent structural relationship.
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Return for Risk
MACV.DE vs. EUNA.DE — Risk / Return Rank
MACV.DE
EUNA.DE
MACV.DE vs. EUNA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Conservative Portfolio UCITS ETF EUR (Acc) (MACV.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.
| MACV.DE | EUNA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.05 | ||
| Sortino ratioReturn per unit of downside risk | +1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.04 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 0.29 | +1.40 |
| Martin ratioReturn relative to average drawdown | 7.43 | 0.78 | +6.66 |
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Drawdowns
MACV.DE vs. EUNA.DE - Drawdown Comparison
The maximum MACV.DE drawdown since its inception was -15.57%, smaller than the maximum EUNA.DE drawdown of -17.81%. Use the drawdown chart below to compare losses from any high point for MACV.DE and EUNA.DE.
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Drawdown Indicators
| MACV.DE | EUNA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.57% | -17.81% | +2.24% |
Max Drawdown (1Y)Largest decline over 1 year | -3.95% | -2.80% | -1.15% |
Max Drawdown (3Y)Largest decline over 3 years | -3.95% | -4.11% | +0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -15.57% | -17.04% | +1.47% |
Current DrawdownCurrent decline from peak | -0.37% | -8.53% | +8.16% |
Average DrawdownAverage peak-to-trough decline | -6.32% | -6.71% | +0.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.90% | 1.05% | -0.15% |
Volatility
MACV.DE vs. EUNA.DE - Volatility Comparison
iShares Conservative Portfolio UCITS ETF EUR (Acc) (MACV.DE) has a higher volatility of 1.73% compared to iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (EUNA.DE) at 0.86%. This indicates that MACV.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
| MACV.DE | EUNA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.73% | 0.86% | +0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 4.63% | 2.83% | +1.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.26% | 3.73% | +1.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.25% | 4.84% | +0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.23% | 4.44% | +0.79% |
MACV.DE vs. EUNA.DE - Expense Ratio Comparison
MACV.DE has a 0.25% expense ratio, which is higher than EUNA.DE's 0.10% 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
MACV.DE vs. EUNA.DE - Dividend Comparison
Neither MACV.DE nor EUNA.DE has paid dividends to shareholders.
Frequently Asked Questions
MACV.DE and EUNA.DE have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNA.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNA.DE is cheaper with a 0.10% expense ratio, compared with 0.25% for MACV.DE.
MACV.DE is categorized as Global Allocation, while EUNA.DE is Global Bonds. Their fees differ too: 0.25% for MACV.DE and 0.10% for EUNA.DE.
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