VUAA.DE vs. EUNL.DE
VUAA.DE (Vanguard S&P 500 UCITS USD Acc ETF) and EUNL.DE (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - VUAA.DE is a S&P 500 fund tracking the S&P 500 Index, while EUNL.DE is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 5 years, VUAA.DE returned 14.30%/yr vs 12.47%/yr for EUNL.DE. With a 0.97 correlation, they move nearly in lockstep. VUAA.DE charges 0.07%/yr vs 0.20%/yr for EUNL.DE.
Performance
VUAA.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 VUAA.DE having a 9.96% return and EUNL.DE slightly lower at 9.95%.
VUAA.DE
- 1D
- 1.54%
- 1M
- 0.58%
- YTD
- 9.96%
- 6M
- 10.78%
- 1Y
- 24.90%
- 3Y*
- 18.05%
- 5Y*
- 14.30%
- 10Y*
- —
EUNL.DE
- 1D
- 1.66%
- 1M
- 1.52%
- YTD
- 9.95%
- 6M
- 11.17%
- 1Y
- 23.88%
- 3Y*
- 16.77%
- 5Y*
- 12.47%
- 10Y*
- 12.99%
VUAA.DE vs. EUNL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
VUAA.DE Vanguard S&P 500 UCITS USD Acc ETF | 9.96% | 4.69% | 32.69% | 22.51% | -14.29% | 40.75% | 5.89% |
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 9.95% | 7.91% | 25.93% | 20.12% | -13.59% | 32.72% | 4.70% |
Correlation
The correlation between VUAA.DE and EUNL.DE is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2020 | 0.97 |
The correlation between VUAA.DE and EUNL.DE has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
VUAA.DE vs. EUNL.DE — Risk / Return Rank
VUAA.DE
EUNL.DE
VUAA.DE vs. EUNL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 UCITS USD Acc ETF (VUAA.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.
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.
| VUAA.DE | EUNL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.38 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | 3.74 | -0.26 |
| Martin ratioReturn relative to average drawdown | 12.44 | 15.11 | -2.66 |
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Drawdowns
VUAA.DE vs. EUNL.DE - Drawdown Comparison
The maximum VUAA.DE drawdown since its inception was -33.67%, roughly equal to the maximum EUNL.DE drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for VUAA.DE and EUNL.DE.
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Drawdown Indicators
| VUAA.DE | EUNL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.67% | -33.63% | -0.04% |
Max Drawdown (1Y)Largest decline over 1 year | -7.00% | -6.22% | -0.78% |
Max Drawdown (3Y)Largest decline over 3 years | -23.33% | -21.73% | -1.60% |
Max Drawdown (5Y)Largest decline over 5 years | -23.33% | -21.73% | -1.60% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.63% | — |
Current DrawdownCurrent decline from peak | -1.74% | -1.13% | -0.61% |
Average DrawdownAverage peak-to-trough decline | -4.88% | -4.22% | -0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.96% | 1.54% | +0.42% |
Volatility
VUAA.DE vs. EUNL.DE - Volatility Comparison
Vanguard S&P 500 UCITS USD Acc ETF (VUAA.DE) and iShares Core MSCI World UCITS ETF USD (Acc) (EUNL.DE) have volatilities of 3.07% and 3.08%, 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
| VUAA.DE | EUNL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.07% | 3.08% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 7.81% | 7.98% | -0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.73% | 11.31% | +0.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.14% | 14.18% | +0.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.61% | 15.16% | +2.45% |
VUAA.DE vs. EUNL.DE - Expense Ratio Comparison
VUAA.DE has a 0.07% 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
VUAA.DE vs. EUNL.DE - Dividend Comparison
Neither VUAA.DE nor EUNL.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
EUNL.DE iShares Core MSCI World UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VUAA.DE Vanguard S&P 500 UCITS USD Acc ETF | 0.00% | 0.00% | 0.27% | 0.00% | 0.00% | 0.00% | 1.09% |
Frequently Asked Questions
With a correlation of 0.96, VUAA.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, VUAA.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUAA.DE is cheaper with a 0.07% expense ratio, compared with 0.20% for EUNL.DE.
VUAA.DE is categorized as S&P 500, while EUNL.DE is Global Equities. VUAA.DE tracks S&P 500 Index, while EUNL.DE tracks MSCI World Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.07% for VUAA.DE and 0.20% for EUNL.DE.
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