MODR.DE vs. EUNL.DE
MODR.DE (iShares Moderate Portfolio UCITS ETF EUR (Acc)) and EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - MODR.DE is a Global Allocation fund actively managed by iShares, while EUNL.DE is a Global Equities fund tracking the MSCI World Index. MODR.DE is actively managed, while EUNL.DE is passively managed. Over the past 5 years, MODR.DE returned 3.93%/yr vs 12.27%/yr for EUNL.DE. A 0.77 correlation means they provide meaningful diversification when combined. MODR.DE charges 0.25%/yr vs 0.20%/yr for EUNL.DE.
Performance
MODR.DE vs. EUNL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, MODR.DE achieves a 6.71% return, which is significantly lower than EUNL.DE's 12.51% return.
MODR.DE
- 1D
- 0.15%
- 1M
- 0.29%
- 6M
- 6.54%
- YTD
- 6.71%
- 1Y
- 12.69%
- 3Y*
- 9.29%
- 5Y*
- 3.93%
- 10Y*
- —
EUNL.DE
- 1D
- 0.37%
- 1M
- 1.51%
- 6M
- 12.63%
- YTD
- 12.51%
- 1Y
- 24.23%
- 3Y*
- 17.52%
- 5Y*
- 12.27%
- 10Y*
- 13.01%
MODR.DE vs. EUNL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MODR.DE iShares Moderate Portfolio UCITS ETF EUR (Acc) | 6.71% | 7.37% | 9.34% | 8.76% | -15.49% | 11.65% | 5.35% |
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 12.51% | 7.91% | 25.93% | 20.12% | -13.59% | 32.72% | 8.47% |
Correlation
The correlation between MODR.DE and EUNL.DE is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2020 | 0.77 |
The correlation between MODR.DE and EUNL.DE has been stable across timeframes, ranging from 0.74 to 0.78 - a consistent structural relationship.
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Return for Risk
MODR.DE vs. EUNL.DE — Risk / Return Rank
MODR.DE
EUNL.DE
MODR.DE vs. EUNL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Moderate Portfolio UCITS ETF EUR (Acc) (MODR.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.
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.
| MODR.DE | EUNL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.39 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 3.88 | -1.44 |
| Martin ratioReturn relative to average drawdown | 10.15 | 15.65 | -5.50 |
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Drawdowns
MODR.DE vs. EUNL.DE - Drawdown Comparison
The maximum MODR.DE drawdown since its inception was -17.98%, smaller than the maximum EUNL.DE drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for MODR.DE and EUNL.DE.
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Drawdown Indicators
| MODR.DE | EUNL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.98% | -33.63% | +15.65% |
Max Drawdown (1Y)Largest decline over 1 year | -5.18% | -6.22% | +1.04% |
Max Drawdown (3Y)Largest decline over 3 years | -10.57% | -21.73% | +11.16% |
Max Drawdown (5Y)Largest decline over 5 years | -17.98% | -21.73% | +3.75% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.63% | — |
Current DrawdownCurrent decline from peak | -0.44% | -0.10% | -0.34% |
Average DrawdownAverage peak-to-trough decline | -5.42% | -4.21% | -1.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 1.54% | -0.29% |
Volatility
MODR.DE vs. EUNL.DE - Volatility Comparison
The current volatility for iShares Moderate Portfolio UCITS ETF EUR (Acc) (MODR.DE) is 2.20%, while iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) has a volatility of 3.21%. This indicates that MODR.DE experiences smaller price fluctuations and is considered to be less risky 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
| MODR.DE | EUNL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.20% | 3.21% | -1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 6.08% | 7.97% | -1.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.35% | 11.33% | -3.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.16% | 14.19% | -6.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.27% | 15.11% | -6.84% |
MODR.DE vs. EUNL.DE - Expense Ratio Comparison
MODR.DE has a 0.25% expense ratio, which is higher than EUNL.DE's 0.20% 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
MODR.DE vs. EUNL.DE - Dividend Comparison
Neither MODR.DE nor EUNL.DE has paid dividends to shareholders.
Frequently Asked Questions
MODR.DE and EUNL.DE have a correlation of 0.74, 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 0.25% for MODR.DE.
MODR.DE is categorized as Global Allocation, while EUNL.DE is Global Equities. Their fees differ too: 0.25% for MODR.DE and 0.20% for EUNL.DE.
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