BGX.DE vs. 18M2.DE
BGX.DE (Expat Bulgaria SOFIX UCITS ETF) and 18M2.DE (Amundi ETF MSCI EMU High Dividend UCITS ETF EUR) are both Europe Equities funds - BGX.DE tracks the SOFIX Index while 18M2.DE tracks the MSCI EMU High Dividend Yield. Both are passively managed. Over the past 5 years, BGX.DE returned 12.68%/yr vs 9.83%/yr for 18M2.DE. At a 0.08 correlation, their price movements are largely independent.
Performance
BGX.DE vs. 18M2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, BGX.DE achieves a 6.93% return, which is significantly lower than 18M2.DE's 11.73% return.
BGX.DE
- 1D
- 2.07%
- 1M
- 2.97%
- 6M
- -10.23%
- YTD
- 6.93%
- 1Y
- 18.70%
- 3Y*
- 19.88%
- 5Y*
- 12.68%
- 10Y*
- —
18M2.DE
- 1D
- -0.19%
- 1M
- 2.38%
- 6M
- 11.39%
- YTD
- 11.73%
- 1Y
- 21.88%
- 3Y*
- 13.63%
- 5Y*
- 9.83%
- 10Y*
- 8.98%
BGX.DE vs. 18M2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BGX.DE Expat Bulgaria SOFIX UCITS ETF | 6.93% | 28.73% | 14.12% | 19.29% | -10.64% | 32.54% | -18.73% | -9.31% | -18.53% |
18M2.DE Amundi ETF MSCI EMU High Dividend UCITS ETF EUR | 11.73% | 21.49% | 3.36% | 16.14% | -6.47% | 16.02% | -6.39% | 24.91% | -7.29% |
Correlation
The correlation between BGX.DE and 18M2.DE is -0.01, 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 | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jan 10, 2018 | 0.08 |
The correlation between BGX.DE and 18M2.DE shifts across timeframes, from -0.01 (1 year) to 0.10 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
BGX.DE vs. 18M2.DE — Risk / Return Rank
BGX.DE
18M2.DE
BGX.DE vs. 18M2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Expat Bulgaria SOFIX UCITS ETF (BGX.DE) and Amundi ETF MSCI EMU High Dividend UCITS ETF EUR (18M2.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.
| BGX.DE | 18M2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.78 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.38 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 3.52 | -2.41 |
| Martin ratioReturn relative to average drawdown | 2.08 | 9.44 | -7.36 |
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Drawdowns
BGX.DE vs. 18M2.DE - Drawdown Comparison
The maximum BGX.DE drawdown since its inception was -46.59%, which is greater than 18M2.DE's maximum drawdown of -37.06%. Use the drawdown chart below to compare losses from any high point for BGX.DE and 18M2.DE.
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Drawdown Indicators
| BGX.DE | 18M2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.59% | -37.06% | -9.53% |
Max Drawdown (1Y)Largest decline over 1 year | -17.99% | -6.19% | -11.80% |
Max Drawdown (3Y)Largest decline over 3 years | -17.99% | -14.68% | -3.31% |
Max Drawdown (5Y)Largest decline over 5 years | -17.99% | -20.81% | +2.82% |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.06% | — |
Current DrawdownCurrent decline from peak | -12.90% | -0.19% | -12.71% |
Average DrawdownAverage peak-to-trough decline | -20.20% | -6.39% | -13.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.60% | 2.31% | +7.29% |
Volatility
BGX.DE vs. 18M2.DE - Volatility Comparison
Expat Bulgaria SOFIX UCITS ETF (BGX.DE) has a higher volatility of 3.60% compared to Amundi ETF MSCI EMU High Dividend UCITS ETF EUR (18M2.DE) at 2.70%. This indicates that BGX.DE's price experiences larger fluctuations and is considered to be riskier than 18M2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BGX.DE | 18M2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.60% | 2.70% | +0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 11.33% | 8.58% | +2.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.24% | 10.84% | +5.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.22% | 13.39% | +1.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.75% | 15.05% | +0.70% |
Dividends
BGX.DE vs. 18M2.DE - Dividend Comparison
Neither BGX.DE nor 18M2.DE has paid dividends to shareholders.
Frequently Asked Questions
BGX.DE and 18M2.DE have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BGX.DE tracks SOFIX Index, while 18M2.DE tracks MSCI EMU High Dividend Yield. They also come from different issuers: Expat and Amundi.
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