MUV2.DE vs. EUNL.DE
MUV2.DE (Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München) is a stock, while EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) is Global Equities fund tracking the MSCI World Index. Over the past 10 years, MUV2.DE returned 15.26%/yr vs 12.82%/yr for EUNL.DE. At a 0.49 correlation, their price movements are largely independent.
Performance
MUV2.DE vs. EUNL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, MUV2.DE achieves a -17.78% return, which is significantly lower than EUNL.DE's 10.86% return. Over the past 10 years, MUV2.DE has outperformed EUNL.DE with an annualized return of 15.26%, while EUNL.DE has yielded a comparatively lower 12.82% annualized return.
MUV2.DE
- 1D
- 0.50%
- 1M
- -15.74%
- YTD
- -17.78%
- 6M
- -13.04%
- 1Y
- -19.75%
- 3Y*
- 13.55%
- 5Y*
- 17.74%
- 10Y*
- 15.26%
EUNL.DE
- 1D
- 0.02%
- 1M
- 3.63%
- YTD
- 10.86%
- 6M
- 10.91%
- 1Y
- 23.77%
- 3Y*
- 17.55%
- 5Y*
- 12.89%
- 10Y*
- 12.82%
MUV2.DE vs. EUNL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MUV2.DE Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München | -17.78% | 19.39% | 34.63% | 27.77% | 22.28% | 11.54% | -3.39% | 43.99% | 10.22% | 5.40% |
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 MUV2.DE and EUNL.DE is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Oct 21, 2009 | 0.49 |
Over the past year, the correlation between MUV2.DE and EUNL.DE has dropped to 0.23 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.
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Return for Risk
MUV2.DE vs. EUNL.DE — Risk / Return Rank
MUV2.DE
EUNL.DE
MUV2.DE vs. EUNL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (MUV2.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.
| MUV2.DE | EUNL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.05 | ||
| Sortino ratioReturn per unit of downside risk | -4.13 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.40 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | 3.64 | -4.46 |
| Martin ratioReturn relative to average drawdown | -1.76 | 14.52 | -16.27 |
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
| MUV2.DE | EUNL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.93 | 2.12 | -3.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.78 | 0.90 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | 0.84 | -0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.82 | -0.52 |
Drawdowns
MUV2.DE vs. EUNL.DE - Drawdown Comparison
The maximum MUV2.DE drawdown since its inception was -86.40%, which is greater than EUNL.DE's maximum drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for MUV2.DE and EUNL.DE.
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Drawdown Indicators
| MUV2.DE | EUNL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.40% | -33.63% | -52.77% |
Max Drawdown (1Y)Largest decline over 1 year | -24.32% | -6.50% | -17.82% |
Max Drawdown (3Y)Largest decline over 3 years | -24.32% | -21.73% | -2.59% |
Max Drawdown (5Y)Largest decline over 5 years | -25.36% | -21.73% | -3.63% |
Max Drawdown (10Y)Largest decline over 10 years | -48.43% | -33.63% | -14.80% |
Current DrawdownCurrent decline from peak | -23.94% | -0.31% | -23.63% |
Average DrawdownAverage peak-to-trough decline | -30.62% | -4.25% | -26.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.32% | 1.64% | +9.68% |
Volatility
MUV2.DE vs. EUNL.DE - Volatility Comparison
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (MUV2.DE) has a higher volatility of 8.26% compared to iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) at 2.62%. This indicates that MUV2.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
| MUV2.DE | EUNL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.26% | 2.62% | +5.64% |
Volatility (6M)Calculated over the trailing 6-month period | 15.90% | 7.72% | +8.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.45% | 11.16% | +10.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.60% | 14.17% | +8.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.27% | 15.17% | +9.10% |
Dividends
MUV2.DE vs. EUNL.DE - Dividend Comparison
MUV2.DE's dividend yield for the trailing twelve months is around 5.44%, while EUNL.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MUV2.DE Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München | 5.44% | 3.56% | 3.08% | 3.09% | 3.62% | 3.76% | 4.04% | 3.52% | 4.51% | 4.76% | 4.59% | 4.20% |
Frequently Asked Questions
MUV2.DE and EUNL.DE have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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