^IMOEX vs. XDN0.DE

Last updated Jun 5, 2026

^IMOEX (MOEX Russia Index) is an index, while XDN0.DE (Xtrackers MSCI Nordic UCITS ETF 1D) is Europe Equities fund tracking the MSCI Nordic Countries NR EUR. Over the past 10 years, ^IMOEX returned 3.02%/yr vs 10.26%/yr for XDN0.DE. At a 0.14 correlation, their price movements are largely independent.

Performance

^IMOEX vs. XDN0.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a RUB 10,000 investment in MOEX Russia Index (^IMOEX) and Xtrackers MSCI Nordic UCITS ETF 1D (XDN0.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

^IMOEX is traded in RUB, while XDN0.DE is traded in EUR. To make them comparable, the XDN0.DE values have been converted to RUB using the latest available exchange rates.

Returns By Period

In the year-to-date period, ^IMOEX achieves a -6.75% return, which is significantly lower than XDN0.DE's -0.85% return. Over the past 10 years, ^IMOEX has underperformed XDN0.DE with an annualized return of 3.02%, while XDN0.DE has yielded a comparatively higher 10.26% annualized return.

^IMOEX

• 1D: -0.82%
• 1M: -2.44%
• YTD: -6.75%
• 6M: -2.91%
• 1Y: -9.05%
• 3Y*: -1.43%
• 5Y*: -7.49%
• 10Y*: 3.02%

XDN0.DE

• 1D: 0.04%
• 1M: -0.92%
• YTD: -0.85%
• 6M: 8.63%
• 1Y: 5.12%
• 3Y*: 7.96%
• 5Y*: 4.74%
• 10Y*: 10.26%

*Multi-year figures are annualized to reflect compound growth (CAGR)

^IMOEX vs. XDN0.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^IMOEX MOEX Russia Index	-6.75%	-4.04%	-6.97%	43.87%	-43.12%	15.15%	7.98%	29.14%	11.79%	-5.51%
XDN0.DE Xtrackers MSCI Nordic UCITS ETF 1D	-0.85%	-12.86%	14.94%	48.02%	-18.71%	19.00%	52.68%	9.85%	5.35%	18.36%

Correlation

The correlation between ^IMOEX and XDN0.DE is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (10Y) Calculated over the trailing 10-year period	0.14
Correlation (All Time) Calculated using the full available price history since Sep 5, 2013	0.14

The correlation between ^IMOEX and XDN0.DE shifts across timeframes, from -0.03 (1 year) to 0.14 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

^IMOEX vs. XDN0.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^IMOEX

^IMOEX Risk / Return Rank: 2
^IMOEX Sharpe Ratio Rank: 3
^IMOEX Sortino Ratio Rank: 3
^IMOEX Omega Ratio Rank: 3
^IMOEX Calmar Ratio Rank: 2
^IMOEX Martin Ratio Rank: 2

XDN0.DE

XDN0.DE Risk / Return Rank: 22
XDN0.DE Sharpe Ratio Rank: 22
XDN0.DE Sortino Ratio Rank: 21
XDN0.DE Omega Ratio Rank: 21
XDN0.DE Calmar Ratio Rank: 24
XDN0.DE Martin Ratio Rank: 23

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

^IMOEX vs. XDN0.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MOEX Russia Index (^IMOEX) and Xtrackers MSCI Nordic UCITS ETF 1D (XDN0.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.

	^IMOEX	XDN0.DE	Difference
Sharpe ratio: Return per unit of total volatility	-0.49	0.23	-0.72
Sortino ratio: Return per unit of downside risk	-0.59	0.47	-1.06
Omega ratio: Gain probability vs. loss probability	0.93	1.06	-0.13
Calmar ratio: Return relative to maximum drawdown	-0.51	0.46	-0.96
Martin ratio: Return relative to average drawdown	-0.97	0.99	-1.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^IMOEX vs. XDN0.DE - Sharpe Ratio Comparison

The current ^IMOEX Sharpe Ratio is -0.49, which is lower than the XDN0.DE Sharpe Ratio of 0.23. The chart below compares the historical Sharpe Ratios of ^IMOEX and XDN0.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	^IMOEX	XDN0.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.49	0.23	-0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.26	0.14	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.13	0.37	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.54	-0.21

Drawdowns

^IMOEX vs. XDN0.DE - Drawdown Comparison

The maximum ^IMOEX drawdown since its inception was -83.89%, which is greater than XDN0.DE's maximum drawdown of -67.27%. Use the drawdown chart below to compare losses from any high point for ^IMOEX and XDN0.DE.

Drawdown Indicators

	^IMOEX	XDN0.DE	Difference
Max Drawdown Largest peak-to-trough decline	-83.89%	-67.27%	-16.62%
Max Drawdown (1Y) Largest decline over 1 year	-17.77%	-11.21%	-6.56%
Max Drawdown (3Y) Largest decline over 3 years	-32.12%	-34.83%	+2.71%
Max Drawdown (5Y) Largest decline over 5 years	-55.29%	-67.27%	+11.98%
Max Drawdown (10Y) Largest decline over 10 years	-55.29%	-67.27%	+11.98%
Current Drawdown Current decline from peak	-39.83%	-21.99%	-17.84%
Average Drawdown Average peak-to-trough decline	-21.01%	-14.37%	-6.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.21%	5.17%	+4.04%

Volatility

^IMOEX vs. XDN0.DE - Volatility Comparison

The current volatility for MOEX Russia Index (^IMOEX) is 4.89%, while Xtrackers MSCI Nordic UCITS ETF 1D (XDN0.DE) has a volatility of 6.19%. This indicates that ^IMOEX experiences smaller price fluctuations and is considered to be less risky than XDN0.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^IMOEX	XDN0.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.89%	6.19%	-1.30%
Volatility (6M) Calculated over the trailing 6-month period	8.84%	16.66%	-7.82%
Volatility (1Y) Calculated over the trailing 1-year period	18.35%	22.43%	-4.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.78%	34.33%	-5.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.65%	27.25%	-3.60%

Frequently Asked Questions

Can I hold both ^IMOEX and XDN0.DE in my portfolio?

^IMOEX and XDN0.DE have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.