MDBA.DE vs. SNA2.DE
MDBA.DE (UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) Acc) and SNA2.DE (iShares USD Treasury Bond UCITS ETF USD Dist) are both Government Bonds funds - MDBA.DE tracks the Solactive UBS Global Multilateral Development Bank Bond USD 25% Issuer Capped while SNA2.DE tracks the ICE US Treasury Core Bond. Both are passively managed. Over the past 5 years, MDBA.DE returned 1.90%/yr vs 0.24%/yr for SNA2.DE. Their correlation of 0.89 suggests significant overlap in exposure. MDBA.DE charges 0.15%/yr vs 0.07%/yr for SNA2.DE.
Performance
MDBA.DE vs. SNA2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, MDBA.DE achieves a 1.20% return, which is significantly higher than SNA2.DE's 0.82% return.
MDBA.DE
- 1D
- 0.00%
- 1M
- 0.73%
- YTD
- 1.20%
- 6M
- 0.67%
- 1Y
- 1.63%
- 3Y*
- 1.12%
- 5Y*
- 1.90%
- 10Y*
- —
SNA2.DE
- 1D
- 0.08%
- 1M
- 0.91%
- YTD
- 0.82%
- 6M
- 0.08%
- 1Y
- 1.09%
- 3Y*
- -0.30%
- 5Y*
- 0.24%
- 10Y*
- —
MDBA.DE vs. SNA2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
MDBA.DE UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) Acc | 1.20% | -5.19% | 8.65% | 0.89% | -1.84% | 6.67% | -4.47% | -2.39% |
SNA2.DE iShares USD Treasury Bond UCITS ETF USD Dist | 0.82% | -5.92% | 6.08% | 0.13% | -6.90% | 5.64% | -2.06% | -3.72% |
Correlation
The correlation between MDBA.DE and SNA2.DE is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Sep 3, 2019 | 0.89 |
The correlation between MDBA.DE and SNA2.DE has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.
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Return for Risk
MDBA.DE vs. SNA2.DE — Risk / Return Rank
MDBA.DE
SNA2.DE
MDBA.DE vs. SNA2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) Acc (MDBA.DE) and iShares USD Treasury Bond UCITS ETF USD Dist (SNA2.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.
| MDBA.DE | SNA2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.04 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.43 | 0.27 | +0.15 |
| Martin ratioReturn relative to average drawdown | 1.04 | 0.65 | +0.40 |
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
| MDBA.DE | SNA2.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.31 | 0.20 | +0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.03 | +0.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | -0.12 | +0.37 |
Drawdowns
MDBA.DE vs. SNA2.DE - Drawdown Comparison
The maximum MDBA.DE drawdown since its inception was -12.17%, smaller than the maximum SNA2.DE drawdown of -17.70%. Use the drawdown chart below to compare losses from any high point for MDBA.DE and SNA2.DE.
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Drawdown Indicators
| MDBA.DE | SNA2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.17% | -17.70% | +5.53% |
Max Drawdown (1Y)Largest decline over 1 year | -3.81% | -3.97% | +0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -10.11% | -11.19% | +1.08% |
Max Drawdown (5Y)Largest decline over 5 years | -12.02% | -13.01% | +0.99% |
Current DrawdownCurrent decline from peak | -6.13% | -14.15% | +8.02% |
Average DrawdownAverage peak-to-trough decline | -5.56% | -11.16% | +5.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.55% | 1.69% | -0.14% |
Volatility
MDBA.DE vs. SNA2.DE - Volatility Comparison
The current volatility for UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) Acc (MDBA.DE) is 0.85%, while iShares USD Treasury Bond UCITS ETF USD Dist (SNA2.DE) has a volatility of 0.96%. This indicates that MDBA.DE experiences smaller price fluctuations and is considered to be less risky than SNA2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MDBA.DE | SNA2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | 0.96% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 3.65% | 3.78% | -0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.31% | 5.49% | -0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.26% | 8.06% | -0.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.03% | 7.95% | -0.92% |
MDBA.DE vs. SNA2.DE - Expense Ratio Comparison
MDBA.DE has a 0.15% expense ratio, which is higher than SNA2.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
MDBA.DE vs. SNA2.DE - Dividend Comparison
MDBA.DE has not paid dividends to shareholders, while SNA2.DE's dividend yield for the trailing twelve months is around 3.50%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
MDBA.DE UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SNA2.DE iShares USD Treasury Bond UCITS ETF USD Dist | 3.50% | 3.74% | 3.48% | 3.07% | 1.40% | 0.72% | 1.32% |
Frequently Asked Questions
With a correlation of 0.91, MDBA.DE and SNA2.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.
On fees, SNA2.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SNA2.DE is cheaper with a 0.07% expense ratio, compared with 0.15% for MDBA.DE.
MDBA.DE tracks Solactive UBS Global Multilateral Development Bank Bond USD 25% Issuer Capped, while SNA2.DE tracks ICE US Treasury Core Bond. They also come from different issuers: UBS and iShares. Their fees differ too: 0.15% for MDBA.DE and 0.07% for SNA2.DE.
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