UETW.DE vs. EUNL.DE
UETW.DE (UBS ETF (IE) MSCI World UCITS ETF (USD) Acc) and EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) are both Global Equities funds - UETW.DE tracks the MSCI World while EUNL.DE tracks the MSCI World Index. Both are passively managed. Over the past 5 years, UETW.DE returned 12.87%/yr vs 12.89%/yr for EUNL.DE. With a 0.99 correlation, they move nearly in lockstep. UETW.DE charges 0.10%/yr vs 0.20%/yr for EUNL.DE.
Performance
UETW.DE vs. EUNL.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with UETW.DE having a 10.95% return and EUNL.DE slightly lower at 10.86%.
UETW.DE
- 1D
- -0.01%
- 1M
- 3.72%
- YTD
- 10.95%
- 6M
- 10.99%
- 1Y
- 23.94%
- 3Y*
- 17.68%
- 5Y*
- 12.87%
- 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%
UETW.DE vs. EUNL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
UETW.DE UBS ETF (IE) MSCI World UCITS ETF (USD) Acc | 10.95% | 8.06% | 26.50% | 19.68% | -13.72% | 32.17% | 5.50% | 12.54% |
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 10.86% | 7.90% | 25.93% | 20.13% | -13.59% | 32.71% | 5.48% | 12.57% |
Correlation
The correlation between UETW.DE and EUNL.DE is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2019 | 0.99 |
The correlation between UETW.DE and EUNL.DE has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
UETW.DE vs. EUNL.DE — Risk / Return Rank
UETW.DE
EUNL.DE
UETW.DE vs. EUNL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) MSCI World UCITS ETF (USD) Acc (UETW.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.
| UETW.DE | EUNL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.40 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.67 | 3.64 | +0.03 |
| Martin ratioReturn relative to average drawdown | 14.61 | 14.52 | +0.09 |
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
| UETW.DE | EUNL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.17 | 2.12 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.91 | 0.90 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.84 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.85 | 0.82 | +0.03 |
Drawdowns
UETW.DE vs. EUNL.DE - Drawdown Comparison
The maximum UETW.DE drawdown since its inception was -33.72%, roughly equal to the maximum EUNL.DE drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for UETW.DE and EUNL.DE.
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Drawdown Indicators
| UETW.DE | EUNL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.72% | -33.63% | -0.09% |
Max Drawdown (1Y)Largest decline over 1 year | -6.47% | -6.50% | +0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -21.30% | -21.73% | +0.43% |
Max Drawdown (5Y)Largest decline over 5 years | -21.30% | -21.73% | +0.43% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.63% | — |
Current DrawdownCurrent decline from peak | -0.30% | -0.31% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -4.63% | -4.25% | -0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 1.64% | -0.01% |
Volatility
UETW.DE vs. EUNL.DE - Volatility Comparison
UBS ETF (IE) MSCI World UCITS ETF (USD) Acc (UETW.DE) and iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) have volatilities of 2.60% and 2.62%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UETW.DE | EUNL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.60% | 2.62% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 7.63% | 7.72% | -0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.97% | 11.16% | -0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.03% | 14.17% | -0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.11% | 15.17% | +0.94% |
UETW.DE vs. EUNL.DE - Expense Ratio Comparison
UETW.DE has a 0.10% 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
UETW.DE vs. EUNL.DE - Dividend Comparison
Neither UETW.DE nor EUNL.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, UETW.DE and EUNL.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, UETW.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UETW.DE is cheaper with a 0.10% expense ratio, compared with 0.20% for EUNL.DE.
UETW.DE tracks MSCI World, while EUNL.DE tracks MSCI World Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.10% for UETW.DE and 0.20% for EUNL.DE.
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