B4NQ.DE vs. XMWJ.DE
B4NQ.DE (BNPP Kupfer (TR) ETC) and XMWJ.DE (WisdomTree Industrial Metals Enhanced) are both Metals funds - B4NQ.DE tracks the LME Copper Futures while XMWJ.DE tracks the Optimised Roll Industrial Metals. Both are passively managed. Over the past 5 years, B4NQ.DE returned 9.94%/yr vs 6.79%/yr for XMWJ.DE. A 0.78 correlation means they provide meaningful diversification when combined. B4NQ.DE charges 0.90%/yr vs 0.40%/yr for XMWJ.DE.
Performance
B4NQ.DE vs. XMWJ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, B4NQ.DE achieves a 12.61% return, which is significantly higher than XMWJ.DE's 11.66% return.
B4NQ.DE
- 1D
- 0.20%
- 1M
- 5.53%
- YTD
- 12.61%
- 6M
- 20.58%
- 1Y
- 43.15%
- 3Y*
- 17.04%
- 5Y*
- 9.94%
- 10Y*
- —
XMWJ.DE
- 1D
- -0.39%
- 1M
- 4.47%
- YTD
- 11.66%
- 6M
- 17.03%
- 1Y
- 28.11%
- 3Y*
- 8.41%
- 5Y*
- 6.79%
- 10Y*
- —
B4NQ.DE vs. XMWJ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
B4NQ.DE BNPP Kupfer (TR) ETC | 12.61% | 27.66% | 11.19% | -0.03% | -5.09% | 34.69% | 13.54% | -1.86% |
XMWJ.DE WisdomTree Industrial Metals Enhanced | 11.66% | 3.54% | 10.30% | -10.91% | 5.77% | 37.50% | 5.00% | -3.74% |
Correlation
The correlation between B4NQ.DE and XMWJ.DE is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2019 | 0.78 |
The correlation between B4NQ.DE and XMWJ.DE has been stable across timeframes, ranging from 0.77 to 0.80 - a consistent structural relationship.
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Return for Risk
B4NQ.DE vs. XMWJ.DE — Risk / Return Rank
B4NQ.DE
XMWJ.DE
B4NQ.DE vs. XMWJ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNPP Kupfer (TR) ETC (B4NQ.DE) and WisdomTree Industrial Metals Enhanced (XMWJ.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.DE | XMWJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.32 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 4.70 | 3.89 | +0.80 |
| Martin ratioReturn relative to average drawdown | 15.53 | 12.97 | +2.56 |
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
| B4NQ.DE | XMWJ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.04 | 1.85 | +0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.34 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.40 | +0.14 |
Drawdowns
B4NQ.DE vs. XMWJ.DE - Drawdown Comparison
The maximum B4NQ.DE drawdown since its inception was -29.78%, smaller than the maximum XMWJ.DE drawdown of -36.27%. Use the drawdown chart below to compare losses from any high point for B4NQ.DE and XMWJ.DE.
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Drawdown Indicators
| B4NQ.DE | XMWJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.78% | -36.27% | +6.49% |
Max Drawdown (1Y)Largest decline over 1 year | -9.40% | -7.31% | -2.09% |
Max Drawdown (3Y)Largest decline over 3 years | -22.98% | -21.35% | -1.63% |
Max Drawdown (5Y)Largest decline over 5 years | -27.51% | -36.27% | +8.76% |
Current DrawdownCurrent decline from peak | -0.62% | -14.55% | +13.93% |
Average DrawdownAverage peak-to-trough decline | -11.05% | -18.56% | +7.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.85% | 2.20% | +0.65% |
Volatility
B4NQ.DE vs. XMWJ.DE - Volatility Comparison
BNPP Kupfer (TR) ETC (B4NQ.DE) has a higher volatility of 5.45% compared to WisdomTree Industrial Metals Enhanced (XMWJ.DE) at 4.56%. This indicates that B4NQ.DE's price experiences larger fluctuations and is considered to be riskier than XMWJ.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.DE | XMWJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.45% | 4.56% | +0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 18.83% | 12.97% | +5.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.66% | 15.40% | +6.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.13% | 19.70% | +1.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.30% | 18.48% | +1.82% |
B4NQ.DE vs. XMWJ.DE - Expense Ratio Comparison
B4NQ.DE has a 0.90% expense ratio, which is higher than XMWJ.DE's 0.40% expense ratio.
Dividends
B4NQ.DE vs. XMWJ.DE - Dividend Comparison
Neither B4NQ.DE nor XMWJ.DE has paid dividends to shareholders.
Frequently Asked Questions
B4NQ.DE and XMWJ.DE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XMWJ.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XMWJ.DE is cheaper with a 0.40% expense ratio, compared with 0.90% for B4NQ.DE.
B4NQ.DE tracks LME Copper Futures, while XMWJ.DE tracks Optimised Roll Industrial Metals. They also come from different issuers: BNP Paribas and WisdomTree. Their fees differ too: 0.90% for B4NQ.DE and 0.40% for XMWJ.DE.
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