SNA2.DE vs. MDBU.DE
SNA2.DE (iShares USD Treasury Bond UCITS ETF USD Dist) and MDBU.DE (UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis) are both Government Bonds funds - SNA2.DE tracks the ICE US Treasury Core Bond while MDBU.DE tracks the Solactive Global Multilateral Development Bank Bond USD 25% Issuer Capped Index. Both are passively managed. Over the past 5 years, SNA2.DE returned 0.68%/yr vs 1.99%/yr for MDBU.DE. Their correlation of 0.85 suggests significant overlap in exposure. SNA2.DE charges 0.07%/yr vs 0.18%/yr for MDBU.DE.
Performance
SNA2.DE vs. MDBU.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SNA2.DE achieves a 3.95% return, which is significantly higher than MDBU.DE's 3.62% return.
SNA2.DE
- 1D
- 0.00%
- 1M
- 3.01%
- YTD
- 3.95%
- 6M
- 4.24%
- 1Y
- 5.78%
- 3Y*
- 1.62%
- 5Y*
- 0.68%
- 10Y*
- —
MDBU.DE
- 1D
- -0.21%
- 1M
- 2.58%
- YTD
- 3.62%
- 6M
- 3.96%
- 1Y
- 5.31%
- 3Y*
- 2.62%
- 5Y*
- 1.99%
- 10Y*
- —
SNA2.DE vs. MDBU.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SNA2.DE iShares USD Treasury Bond UCITS ETF USD Dist | 3.95% | -5.58% | 6.59% | 0.19% | -6.84% | 5.89% | -2.05% | -3.52% |
MDBU.DE UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis | 3.62% | -5.25% | 8.54% | 0.91% | -1.87% | 6.72% | -4.48% | -2.14% |
Correlation
The correlation between SNA2.DE and MDBU.DE is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Sep 2, 2019 | 0.85 |
The correlation between SNA2.DE and MDBU.DE has been stable across timeframes, ranging from 0.84 to 0.86 - a consistent structural relationship.
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Return for Risk
SNA2.DE vs. MDBU.DE — Risk / Return Rank
SNA2.DE
MDBU.DE
SNA2.DE vs. MDBU.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond UCITS ETF USD Dist (SNA2.DE) and UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis (MDBU.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.
| SNA2.DE | MDBU.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.17 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.45 | 1.40 | +0.05 |
| Martin ratioReturn relative to average drawdown | 3.92 | 3.65 | +0.27 |
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Drawdowns
SNA2.DE vs. MDBU.DE - Drawdown Comparison
The maximum SNA2.DE drawdown since its inception was -17.34%, which is greater than MDBU.DE's maximum drawdown of -12.83%. Use the drawdown chart below to compare losses from any high point for SNA2.DE and MDBU.DE.
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Drawdown Indicators
| SNA2.DE | MDBU.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.34% | -12.83% | -4.51% |
Max Drawdown (1Y)Largest decline over 1 year | -3.98% | -3.78% | -0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -11.09% | -10.05% | -1.04% |
Max Drawdown (5Y)Largest decline over 5 years | -12.92% | -12.03% | -0.89% |
Current DrawdownCurrent decline from peak | -10.37% | -4.04% | -6.33% |
Average DrawdownAverage peak-to-trough decline | -10.73% | -6.47% | -4.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.47% | 1.45% | +0.02% |
Volatility
SNA2.DE vs. MDBU.DE - Volatility Comparison
iShares USD Treasury Bond UCITS ETF USD Dist (SNA2.DE) has a higher volatility of 1.39% compared to UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis (MDBU.DE) at 1.29%. This indicates that SNA2.DE's price experiences larger fluctuations and is considered to be riskier than MDBU.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SNA2.DE | MDBU.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 1.29% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 4.09% | 3.92% | +0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.83% | 5.49% | +0.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.19% | 7.20% | +0.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.10% | 8.09% | +0.01% |
SNA2.DE vs. MDBU.DE - Expense Ratio Comparison
SNA2.DE has a 0.07% expense ratio, which is lower than MDBU.DE's 0.18% 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
SNA2.DE vs. MDBU.DE - Dividend Comparison
SNA2.DE's dividend yield for the trailing twelve months is around 3.98%, more than MDBU.DE's 3.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
MDBU.DE UBS ETF (LU) Sustainable Development Bank Bonds UCITS ETF (USD) A-dis | 3.06% | 4.10% | 2.09% | 1.92% | 0.79% | 0.71% | 1.79% | 1.56% |
SNA2.DE iShares USD Treasury Bond UCITS ETF USD Dist | 3.98% | 4.21% | 3.82% | 3.27% | 1.45% | 0.85% | 1.52% | 0.00% |
Frequently Asked Questions
SNA2.DE and MDBU.DE have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 0.18% for MDBU.DE.
SNA2.DE tracks ICE US Treasury Core Bond, while MDBU.DE tracks Solactive Global Multilateral Development Bank Bond USD 25% Issuer Capped Index. They also come from different issuers: iShares and UBS. Their fees differ too: 0.07% for SNA2.DE and 0.18% for MDBU.DE.
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