0GZB.DE vs. B4NQ.DE
0GZB.DE (BNPP RICI Enhanced Kupfer (ER) EUR Hedge ETC) and B4NQ.DE (BNPP Kupfer (TR) ETC) are both Metals funds from BNP Paribas - 0GZB.DE tracks the RICI Enhanced Copper (EUR Hedged) while B4NQ.DE tracks the LME Copper Futures. Both are passively managed. Over the past 5 years, 0GZB.DE returned 6.77%/yr vs 9.94%/yr for B4NQ.DE. Their correlation of 0.85 suggests significant overlap in exposure. 0GZB.DE charges 1.20%/yr vs 0.90%/yr for B4NQ.DE.
Performance
0GZB.DE vs. B4NQ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 0GZB.DE achieves a 10.76% return, which is significantly lower than B4NQ.DE's 12.61% return.
0GZB.DE
- 1D
- 0.84%
- 1M
- 3.24%
- YTD
- 10.76%
- 6M
- 20.27%
- 1Y
- 40.22%
- 3Y*
- 18.68%
- 5Y*
- 6.77%
- 10Y*
- —
B4NQ.DE
- 1D
- 0.20%
- 1M
- 5.53%
- YTD
- 12.61%
- 6M
- 20.58%
- 1Y
- 43.15%
- 3Y*
- 17.04%
- 5Y*
- 9.94%
- 10Y*
- —
0GZB.DE vs. B4NQ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
0GZB.DE BNPP RICI Enhanced Kupfer (ER) EUR Hedge ETC | 10.76% | 33.47% | 8.38% | 3.72% | -11.58% | 20.19% | 21.59% | 6.66% |
B4NQ.DE BNPP Kupfer (TR) ETC | 12.61% | 27.66% | 11.19% | -0.03% | -5.09% | 34.69% | 13.54% | 8.24% |
Correlation
The correlation between 0GZB.DE and B4NQ.DE is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Aug 12, 2019 | 0.85 |
The correlation between 0GZB.DE and B4NQ.DE has been stable across timeframes, ranging from 0.84 to 0.85 - a consistent structural relationship.
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Return for Risk
0GZB.DE vs. B4NQ.DE — Risk / Return Rank
0GZB.DE
B4NQ.DE
0GZB.DE vs. B4NQ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNPP RICI Enhanced Kupfer (ER) EUR Hedge ETC (0GZB.DE) and BNPP Kupfer (TR) ETC (B4NQ.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.
| 0GZB.DE | B4NQ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.39 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.60 | 4.70 | -1.09 |
| Martin ratioReturn relative to average drawdown | 12.08 | 15.53 | -3.45 |
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
| 0GZB.DE | B4NQ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.10 | 2.04 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.47 | -0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.54 | +0.09 |
Drawdowns
0GZB.DE vs. B4NQ.DE - Drawdown Comparison
The maximum 0GZB.DE drawdown since its inception was -31.84%, which is greater than B4NQ.DE's maximum drawdown of -29.78%. Use the drawdown chart below to compare losses from any high point for 0GZB.DE and B4NQ.DE.
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Drawdown Indicators
| 0GZB.DE | B4NQ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.84% | -29.78% | -2.06% |
Max Drawdown (1Y)Largest decline over 1 year | -11.71% | -9.40% | -2.31% |
Max Drawdown (3Y)Largest decline over 3 years | -17.85% | -22.98% | +5.13% |
Max Drawdown (5Y)Largest decline over 5 years | -31.84% | -27.51% | -4.33% |
Current DrawdownCurrent decline from peak | -2.20% | -0.62% | -1.58% |
Average DrawdownAverage peak-to-trough decline | -10.14% | -11.05% | +0.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.50% | 2.85% | +0.65% |
Volatility
0GZB.DE vs. B4NQ.DE - Volatility Comparison
BNPP RICI Enhanced Kupfer (ER) EUR Hedge ETC (0GZB.DE) has a higher volatility of 6.38% compared to BNPP Kupfer (TR) ETC (B4NQ.DE) at 5.45%. This indicates that 0GZB.DE's price experiences larger fluctuations and is considered to be riskier than B4NQ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 0GZB.DE | B4NQ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.38% | 5.45% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 16.81% | 18.83% | -2.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.06% | 21.66% | -1.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.55% | 21.13% | -0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.49% | 20.30% | +0.19% |
0GZB.DE vs. B4NQ.DE - Expense Ratio Comparison
0GZB.DE has a 1.20% expense ratio, which is higher than B4NQ.DE's 0.90% expense ratio.
Dividends
0GZB.DE vs. B4NQ.DE - Dividend Comparison
Neither 0GZB.DE nor B4NQ.DE has paid dividends to shareholders.
Frequently Asked Questions
0GZB.DE and B4NQ.DE have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, B4NQ.DE is cheaper at 0.90% per year. The better choice depends on whether you care most about return, fees, risk, or income.
B4NQ.DE is cheaper with a 0.90% expense ratio, compared with 1.20% for 0GZB.DE.
0GZB.DE tracks RICI Enhanced Copper (EUR Hedged), while B4NQ.DE tracks LME Copper Futures. Their fees differ too: 1.20% for 0GZB.DE and 0.90% for B4NQ.DE.
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