VWCE.DE vs. EUNH.DE
VWCE.DE (Vanguard FTSE All-World UCITS ETF) and EUNH.DE (iShares Core Euro Government Bond UCITS ETF (Dist)) are both exchange-traded funds - VWCE.DE is a Global Equities fund tracking the FTSE All-World Index, while EUNH.DE is a European Government Bonds fund tracking the Bloomberg Euro Aggregate Treasury. Both are passively managed. Over the past 5 years, VWCE.DE returned 11.89%/yr vs -2.33%/yr for EUNH.DE. At a 0.07 correlation, their price movements are largely independent. VWCE.DE charges 0.19%/yr vs 0.07%/yr for EUNH.DE.
Performance
VWCE.DE vs. EUNH.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VWCE.DE achieves a 11.72% return, which is significantly higher than EUNH.DE's 0.19% return.
VWCE.DE
- 1D
- 1.82%
- 1M
- 0.89%
- YTD
- 11.72%
- 6M
- 13.39%
- 1Y
- 26.35%
- 3Y*
- 17.02%
- 5Y*
- 11.89%
- 10Y*
- —
EUNH.DE
- 1D
- 0.27%
- 1M
- 0.49%
- YTD
- 0.19%
- 6M
- 0.69%
- 1Y
- 0.32%
- 3Y*
- 2.46%
- 5Y*
- -2.33%
- 10Y*
- -0.34%
VWCE.DE vs. EUNH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VWCE.DE Vanguard FTSE All-World UCITS ETF | 11.72% | 9.16% | 24.41% | 18.18% | -13.47% | 28.62% | 5.36% | 7.08% |
EUNH.DE iShares Core Euro Government Bond UCITS ETF (Dist) | 0.19% | 0.80% | 1.52% | 6.83% | -18.31% | -3.38% | 4.72% | -0.48% |
Correlation
The correlation between VWCE.DE and EUNH.DE is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2019 | 0.07 |
Over the past year, VWCE.DE and EUNH.DE have become more correlated (0.37) than their long-term average of 0.07, meaning their price movements have been converging.
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Return for Risk
VWCE.DE vs. EUNH.DE — Risk / Return Rank
VWCE.DE
EUNH.DE
VWCE.DE vs. EUNH.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World UCITS ETF (VWCE.DE) and iShares Core Euro Government Bond UCITS ETF (Dist) (EUNH.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.
| VWCE.DE | EUNH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.25 | ||
| Sortino ratioReturn per unit of downside risk | +3.11 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.00 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 3.92 | -0.04 | +3.96 |
| Martin ratioReturn relative to average drawdown | 16.07 | -0.11 | +16.18 |
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Drawdowns
VWCE.DE vs. EUNH.DE - Drawdown Comparison
The maximum VWCE.DE drawdown since its inception was -33.43%, which is greater than EUNH.DE's maximum drawdown of -22.42%. Use the drawdown chart below to compare losses from any high point for VWCE.DE and EUNH.DE.
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Drawdown Indicators
| VWCE.DE | EUNH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.43% | -22.42% | -11.01% |
Max Drawdown (1Y)Largest decline over 1 year | -6.55% | -3.48% | -3.07% |
Max Drawdown (3Y)Largest decline over 3 years | -21.07% | -4.10% | -16.97% |
Max Drawdown (5Y)Largest decline over 5 years | -21.07% | -21.53% | +0.46% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.42% | — |
Current DrawdownCurrent decline from peak | -1.47% | -13.88% | +12.41% |
Average DrawdownAverage peak-to-trough decline | -4.68% | -5.80% | +1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 1.35% | +0.25% |
Volatility
VWCE.DE vs. EUNH.DE - Volatility Comparison
Vanguard FTSE All-World UCITS ETF (VWCE.DE) has a higher volatility of 3.40% compared to iShares Core Euro Government Bond UCITS ETF (Dist) (EUNH.DE) at 1.65%. This indicates that VWCE.DE's price experiences larger fluctuations and is considered to be riskier than EUNH.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWCE.DE | EUNH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.40% | 1.65% | +1.75% |
Volatility (6M)Calculated over the trailing 6-month period | 8.51% | 3.68% | +4.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.63% | 4.37% | +7.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.79% | 6.34% | +7.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.16% | 5.51% | +10.65% |
VWCE.DE vs. EUNH.DE - Expense Ratio Comparison
VWCE.DE has a 0.19% expense ratio, which is higher than EUNH.DE's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VWCE.DE vs. EUNH.DE - Dividend Comparison
VWCE.DE has not paid dividends to shareholders, while EUNH.DE's dividend yield for the trailing twelve months is around 2.49%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUNH.DE iShares Core Euro Government Bond UCITS ETF (Dist) | 2.49% | 2.30% | 1.77% | 0.97% | 0.27% | 0.24% | 0.47% | 0.65% | 0.66% | 0.70% | 0.94% | 0.62% |
VWCE.DE Vanguard FTSE All-World UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VWCE.DE and EUNH.DE have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNH.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNH.DE is cheaper with a 0.07% expense ratio, compared with 0.19% for VWCE.DE.
VWCE.DE is categorized as Global Equities, while EUNH.DE is European Government Bonds. VWCE.DE tracks FTSE All-World Index, while EUNH.DE tracks Bloomberg Euro Aggregate Treasury. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.19% for VWCE.DE and 0.07% for EUNH.DE.
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