SPFB.DE vs. EUN3.DE
SPFB.DE (SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged) and EUN3.DE (iShares Global Government Bond UCITS ETF USD (Dist)) are both Global Bonds funds - SPFB.DE tracks the Bloomberg Global Aggregate Bond (GBP Hedged) while EUN3.DE tracks the FTSE G7 Government Bond. Both are passively managed. Over the past 5 years, SPFB.DE returned 0.23%/yr vs -2.76%/yr for EUN3.DE. A 0.60 correlation means they provide meaningful diversification when combined. SPFB.DE charges 0.10%/yr vs 0.20%/yr for EUN3.DE.
Performance
SPFB.DE vs. EUN3.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPFB.DE achieves a 0.61% return, which is significantly higher than EUN3.DE's -1.67% return.
SPFB.DE
- 1D
- 0.21%
- 1M
- 0.06%
- YTD
- 0.61%
- 6M
- 0.86%
- 1Y
- 3.47%
- 3Y*
- 3.94%
- 5Y*
- 0.23%
- 10Y*
- —
EUN3.DE
- 1D
- 0.03%
- 1M
- 0.35%
- YTD
- -1.67%
- 6M
- -2.34%
- 1Y
- -2.97%
- 3Y*
- -1.80%
- 5Y*
- -2.76%
- 10Y*
- -1.20%
SPFB.DE vs. EUN3.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPFB.DE SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged | 0.61% | 4.84% | 2.82% | 5.74% | -12.07% | -1.58% | 4.34% | 6.46% | 1.06% |
EUN3.DE iShares Global Government Bond UCITS ETF USD (Dist) | -1.67% | -5.37% | 2.25% | 0.44% | -12.65% | 1.09% | -0.23% | 8.23% | 6.19% |
Correlation
The correlation between SPFB.DE and EUN3.DE is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2018 | 0.60 |
The correlation between SPFB.DE and EUN3.DE shifts across timeframes, from 0.46 (1 year) to 0.62 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SPFB.DE vs. EUN3.DE — Risk / Return Rank
SPFB.DE
EUN3.DE
SPFB.DE vs. EUN3.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged (SPFB.DE) and iShares Global Government Bond UCITS ETF USD (Dist) (EUN3.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.
| SPFB.DE | EUN3.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.87 | ||
| Sortino ratioReturn per unit of downside risk | +2.65 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 0.88 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | -0.70 | +2.16 |
| Martin ratioReturn relative to average drawdown | 4.25 | -1.37 | +5.62 |
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
| SPFB.DE | EUN3.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.12 | -0.74 | +1.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | -0.40 | +0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.19 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.17 | +0.17 |
Drawdowns
SPFB.DE vs. EUN3.DE - Drawdown Comparison
The maximum SPFB.DE drawdown since its inception was -15.78%, smaller than the maximum EUN3.DE drawdown of -22.74%. Use the drawdown chart below to compare losses from any high point for SPFB.DE and EUN3.DE.
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Drawdown Indicators
| SPFB.DE | EUN3.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.78% | -22.74% | +6.96% |
Max Drawdown (1Y)Largest decline over 1 year | -2.31% | -4.71% | +2.40% |
Max Drawdown (3Y)Largest decline over 3 years | -3.59% | -10.14% | +6.55% |
Max Drawdown (5Y)Largest decline over 5 years | -15.55% | -18.98% | +3.43% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.74% | — |
Current DrawdownCurrent decline from peak | -1.01% | -21.83% | +20.82% |
Average DrawdownAverage peak-to-trough decline | -4.52% | -9.52% | +5.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 2.42% | -1.63% |
Volatility
SPFB.DE vs. EUN3.DE - Volatility Comparison
SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged (SPFB.DE) has a higher volatility of 1.39% compared to iShares Global Government Bond UCITS ETF USD (Dist) (EUN3.DE) at 1.12%. This indicates that SPFB.DE's price experiences larger fluctuations and is considered to be riskier than EUN3.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPFB.DE | EUN3.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 1.12% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 2.47% | 3.34% | -0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.01% | 4.44% | -1.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.35% | 6.83% | -2.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.84% | 6.23% | -2.39% |
SPFB.DE vs. EUN3.DE - Expense Ratio Comparison
SPFB.DE has a 0.10% expense ratio, which is lower than EUN3.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
SPFB.DE vs. EUN3.DE - Dividend Comparison
SPFB.DE's dividend yield for the trailing twelve months is around 3.09%, more than EUN3.DE's 1.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUN3.DE iShares Global Government Bond UCITS ETF USD (Dist) | 1.50% | 3.09% | 2.40% | 1.47% | 0.79% | 0.60% | 1.08% | 1.20% | 1.04% | 1.01% | 1.04% | 0.59% |
SPFB.DE SPDR Bloomberg Global Aggregate Bond UCITS ETF GBP Hedged | 3.09% | 3.07% | 2.70% | 1.91% | 1.48% | 1.18% | 1.51% | 1.70% | 0.88% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPFB.DE and EUN3.DE have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPFB.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPFB.DE is cheaper with a 0.10% expense ratio, compared with 0.20% for EUN3.DE.
SPFB.DE tracks Bloomberg Global Aggregate Bond (GBP Hedged), while EUN3.DE tracks FTSE G7 Government Bond. They also come from different issuers: State Street and iShares. Their fees differ too: 0.10% for SPFB.DE and 0.20% for EUN3.DE.
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