SECD.DE vs. EUNL.DE
SECD.DE (iShares Euro Government Bond Climate UCITS ETF EUR Dist) and EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - SECD.DE is a European Government Bonds fund tracking the FTSE Advanced Climate Risk-Adjusted European Monetary Union Government Bond, while EUNL.DE is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 5 years, SECD.DE returned -2.19%/yr vs 12.89%/yr for EUNL.DE. At a 0.10 correlation, their price movements are largely independent. SECD.DE charges 0.09%/yr vs 0.20%/yr for EUNL.DE.
Performance
SECD.DE vs. EUNL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SECD.DE achieves a 0.13% return, which is significantly lower than EUNL.DE's 10.86% return.
SECD.DE
- 1D
- 0.11%
- 1M
- -0.05%
- YTD
- 0.13%
- 6M
- 0.20%
- 1Y
- 0.36%
- 3Y*
- 2.34%
- 5Y*
- -2.19%
- 10Y*
- —
EUNL.DE
- 1D
- 0.02%
- 1M
- 4.80%
- YTD
- 10.86%
- 6M
- 11.29%
- 1Y
- 23.80%
- 3Y*
- 17.55%
- 5Y*
- 12.89%
- 10Y*
- 12.82%
SECD.DE vs. EUNL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SECD.DE iShares Euro Government Bond Climate UCITS ETF EUR Dist | 0.13% | 0.63% | 1.57% | 6.94% | -18.16% | -3.30% | 1.19% |
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 10.86% | 7.90% | 25.93% | 20.13% | -13.59% | 32.71% | 8.10% |
Correlation
The correlation between SECD.DE and EUNL.DE is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2020 | 0.10 |
Over the past year, SECD.DE and EUNL.DE have become more correlated (0.32) than their long-term average of 0.10, meaning their price movements have been converging.
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Return for Risk
SECD.DE vs. EUNL.DE — Risk / Return Rank
SECD.DE
EUNL.DE
SECD.DE vs. EUNL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Government Bond Climate UCITS ETF EUR Dist (SECD.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.
| SECD.DE | EUNL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.13 | ||
| Sortino ratioReturn per unit of downside risk | -2.95 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.40 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.01 | 3.64 | -3.65 |
| Martin ratioReturn relative to average drawdown | -0.02 | 14.52 | -14.54 |
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
| SECD.DE | EUNL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.01 | 2.12 | -2.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.34 | 0.90 | -1.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.84 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.38 | 0.82 | -1.20 |
Drawdowns
SECD.DE vs. EUNL.DE - Drawdown Comparison
The maximum SECD.DE drawdown since its inception was -22.04%, smaller than the maximum EUNL.DE drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for SECD.DE and EUNL.DE.
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Drawdown Indicators
| SECD.DE | EUNL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.04% | -33.63% | +11.59% |
Max Drawdown (1Y)Largest decline over 1 year | -3.41% | -6.50% | +3.09% |
Max Drawdown (3Y)Largest decline over 3 years | -3.96% | -21.73% | +17.77% |
Max Drawdown (5Y)Largest decline over 5 years | -21.21% | -21.73% | +0.52% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.63% | — |
Current DrawdownCurrent decline from peak | -13.67% | -0.31% | -13.36% |
Average DrawdownAverage peak-to-trough decline | -12.64% | -4.25% | -8.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 1.64% | -0.31% |
Volatility
SECD.DE vs. EUNL.DE - Volatility Comparison
The current volatility for iShares Euro Government Bond Climate UCITS ETF EUR Dist (SECD.DE) is 1.78%, while iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) has a volatility of 2.62%. This indicates that SECD.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
| SECD.DE | EUNL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.78% | 2.62% | -0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 3.63% | 7.72% | -4.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.34% | 11.16% | -6.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.28% | 14.17% | -7.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.02% | 15.17% | -9.15% |
SECD.DE vs. EUNL.DE - Expense Ratio Comparison
SECD.DE has a 0.09% expense ratio, which is lower than EUNL.DE's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SECD.DE vs. EUNL.DE - Dividend Comparison
SECD.DE's dividend yield for the trailing twelve months is around 2.71%, while EUNL.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% |
SECD.DE iShares Euro Government Bond Climate UCITS ETF EUR Dist | 2.71% | 2.59% | 2.30% | 1.17% |
Frequently Asked Questions
SECD.DE and EUNL.DE have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SECD.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SECD.DE is cheaper with a 0.09% expense ratio, compared with 0.20% for EUNL.DE.
SECD.DE is categorized as European Government Bonds, while EUNL.DE is Global Equities. SECD.DE tracks FTSE Advanced Climate Risk-Adjusted European Monetary Union Government Bond, while EUNL.DE tracks MSCI World Index. Their fees differ too: 0.09% for SECD.DE and 0.20% for EUNL.DE.
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