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B4NQ.DE vs. B4NB.DE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

B4NQ.DE vs. B4NB.DE

Last updated Jun 5, 2026

B4NQ.DE (BNPP Kupfer (TR) ETC) and B4NB.DE (BNPP RICI Enhanced Kupfer (TR) ETC USD) are both Metals funds from BNP Paribas - B4NQ.DE tracks the LME Copper Futures while B4NB.DE tracks the RICI Enhanced Copper. Both are passively managed. Over the past 5 years, B4NQ.DE returned 9.94%/yr vs 8.94%/yr for B4NB.DE. Their correlation of 0.85 suggests significant overlap in exposure. B4NQ.DE charges 0.90%/yr vs 0.99%/yr for B4NB.DE.

Performance

B4NQ.DE vs. B4NB.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in BNPP Kupfer (TR) ETC (B4NQ.DE) and BNPP RICI Enhanced Kupfer (TR) ETC USD (B4NB.DE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with B4NQ.DE having a 12.61% return and B4NB.DE slightly lower at 12.31%.

B4NQ.DE

1D
0.20%
1M
7.15%
YTD
12.61%
6M
23.40%
1Y
44.36%
3Y*
17.04%
5Y*
9.94%
10Y*
—

B4NB.DE

1D
0.86%
1M
5.31%
YTD
12.31%
6M
23.35%
1Y
44.74%
3Y*
20.76%
5Y*
8.94%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

B4NQ.DE vs. B4NB.DE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
B4NQ.DE
BNPP Kupfer (TR) ETC		12.61%27.66%11.19%-0.03%-5.09%34.69%13.54%6.45%-13.91%19.60%
B4NB.DE
BNPP RICI Enhanced Kupfer (TR) ETC USD		12.31%35.19%9.85%6.07%-8.69%21.42%23.18%4.91%-17.09%27.99%

Correlation

The correlation between B4NQ.DE and B4NB.DE is 0.86, 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

0.86

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 May 31, 2017

0.85

The correlation between B4NQ.DE and B4NB.DE has been stable across timeframes, ranging from 0.84 to 0.86 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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BNPP Kupfer (TR) ETC

BNPP RICI Enhanced Kupfer (TR) ETC USD

Often compared with B4NQ.DE:
B4NQ.DE vs. BNQV.DEB4NQ.DE vs. BNQP.DEB4NQ.DE vs. 0GZD.DEB4NQ.DE vs. ALUM.LB4NQ.DE vs. 0GZB.DEB4NQ.DE vs. ASRE.DEB4NQ.DE vs. ESEA.DE
Often compared with B4NB.DE:
B4NB.DE vs. 0GZD.DEB4NB.DE vs. BNQP.DEB4NB.DE vs. BNQV.DEB4NB.DE vs. 0GZB.DEB4NB.DE vs. BCIMB4NB.DE vs. ZINC.LB4NB.DE vs. META.L

Return for Risk

B4NQ.DE vs. B4NB.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
B4NQ.DE
B4NQ.DE Risk / Return Rank: 7272
Overall Rank
B4NQ.DE Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
B4NQ.DE Sortino Ratio Rank: 6464
Sortino Ratio Rank
B4NQ.DE Omega Ratio Rank: 6767
Omega Ratio Rank
B4NQ.DE Calmar Ratio Rank: 8686
Calmar Ratio Rank
B4NQ.DE Martin Ratio Rank: 8080
Martin Ratio Rank
B4NB.DE
B4NB.DE Risk / Return Rank: 7272
Overall Rank
B4NB.DE Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
B4NB.DE Sortino Ratio Rank: 7070
Sortino Ratio Rank
B4NB.DE Omega Ratio Rank: 6767
Omega Ratio Rank
B4NB.DE Calmar Ratio Rank: 7979
Calmar Ratio Rank
B4NB.DE Martin Ratio Rank: 7474
Martin Ratio Rank
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.

B4NQ.DE vs. B4NB.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNPP Kupfer (TR) ETC (B4NQ.DE) and BNPP RICI Enhanced Kupfer (TR) ETC USD (B4NB.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.

B4NQ.DEB4NB.DEDifference
Sharpe ratioReturn per unit of total volatility
2.04
2.26

-0.22

Sortino ratioReturn per unit of downside risk
2.92
3.15

-0.23

Omega ratioGain probability vs. loss probability

1.39

1.40

0.00

Calmar ratioReturn relative to maximum drawdown

4.70

3.98

+0.71

Martin ratioReturn relative to average drawdown

15.53

13.73

+1.80

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

B4NQ.DE vs. B4NB.DE - Sharpe Ratio Comparison

The current B4NQ.DE Sharpe Ratio is 2.04, which is comparable to the B4NB.DE Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of B4NQ.DE and B4NB.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.

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Sharpe Ratios by Period

B4NQ.DEB4NB.DEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.04

2.26

-0.22

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.47

0.43

+0.04

Sharpe Ratio (All Time)

Calculated using the full available price history

0.54

0.60

-0.06

Drawdowns

B4NQ.DE vs. B4NB.DE - Drawdown Comparison

The maximum B4NQ.DE drawdown since its inception was -29.78%, smaller than the maximum B4NB.DE drawdown of -35.46%. Use the drawdown chart below to compare losses from any high point for B4NQ.DE and B4NB.DE.

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Drawdown Indicators

B4NQ.DEB4NB.DEDifference

Max Drawdown

Largest peak-to-trough decline

-29.78%

-35.46%

+5.68%

Max Drawdown (1Y)

Largest decline over 1 year

-9.40%

-11.18%

+1.78%

Max Drawdown (3Y)

Largest decline over 3 years

-22.98%

-16.40%

-6.58%

Max Drawdown (5Y)

Largest decline over 5 years

-27.51%

-31.07%

+3.56%

Current Drawdown

Current decline from peak

-0.62%

-2.07%

+1.45%

Average Drawdown

Average peak-to-trough decline

-11.05%

-10.79%

-0.26%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.85%

3.25%

-0.40%

Volatility

B4NQ.DE vs. B4NB.DE - Volatility Comparison

The current volatility for BNPP Kupfer (TR) ETC (B4NQ.DE) is 5.45%, while BNPP RICI Enhanced Kupfer (TR) ETC USD (B4NB.DE) has a volatility of 6.28%. This indicates that B4NQ.DE experiences smaller price fluctuations and is considered to be less risky than B4NB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

B4NQ.DEB4NB.DEDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.45%

6.28%

-0.83%

Volatility (6M)

Calculated over the trailing 6-month period

18.83%

16.26%

+2.57%

Volatility (1Y)

Calculated over the trailing 1-year period

21.66%

19.68%

+1.98%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.13%

20.44%

+0.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.30%

19.54%

+0.76%

B4NQ.DE vs. B4NB.DE - Expense Ratio Comparison

B4NQ.DE has a 0.90% expense ratio, which is lower than B4NB.DE's 0.99% expense ratio.

Dividends

B4NQ.DE vs. B4NB.DE - Dividend Comparison

Neither B4NQ.DE nor B4NB.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

B4NQ.DE and B4NB.DE have a correlation of 0.86, 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 0.99% for B4NB.DE.

B4NQ.DE tracks LME Copper Futures, while B4NB.DE tracks RICI Enhanced Copper. Their fees differ too: 0.90% for B4NQ.DE and 0.99% for B4NB.DE.

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