BNQP.DE vs. B4NQ.DE
BNQP.DE (BNPP RICI Kupfer (TR) Enhanced ETC) and B4NQ.DE (BNPP Kupfer (TR) ETC) are both Metals funds from BNP Paribas - BNQP.DE tracks the RICI Enhanced Copper while B4NQ.DE tracks the LME Copper Futures. Both are passively managed. Over the past 5 years, BNQP.DE returned 9.93%/yr vs 9.94%/yr for B4NQ.DE. Their correlation of 0.92 suggests significant overlap in exposure. BNQP.DE charges 1.00%/yr vs 0.90%/yr for B4NQ.DE.
Performance
BNQP.DE vs. B4NQ.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with BNQP.DE having a 12.82% return and B4NQ.DE slightly lower at 12.61%.
BNQP.DE
- 1D
- 0.72%
- 1M
- 6.09%
- YTD
- 12.82%
- 6M
- 23.25%
- 1Y
- 42.24%
- 3Y*
- 17.47%
- 5Y*
- 9.93%
- 10Y*
- —
B4NQ.DE
- 1D
- 0.20%
- 1M
- 7.15%
- YTD
- 12.61%
- 6M
- 23.40%
- 1Y
- 44.36%
- 3Y*
- 17.04%
- 5Y*
- 9.94%
- 10Y*
- —
BNQP.DE vs. B4NQ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BNQP.DE BNPP RICI Kupfer (TR) Enhanced ETC | 12.82% | 20.92% | 16.44% | 2.18% | -3.18% | 31.64% | 12.34% | 7.41% | -13.56% | 19.85% |
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% |
Correlation
The correlation between BNQP.DE and B4NQ.DE is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since May 31, 2017 | 0.92 |
The correlation between BNQP.DE and B4NQ.DE has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
BNQP.DE vs. B4NQ.DE — Risk / Return Rank
BNQP.DE
B4NQ.DE
BNQP.DE vs. B4NQ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNPP RICI Kupfer (TR) Enhanced ETC (BNQP.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.
| BNQP.DE | B4NQ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.39 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 4.87 | 4.70 | +0.18 |
| Martin ratioReturn relative to average drawdown | 16.92 | 15.53 | +1.39 |
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
| BNQP.DE | B4NQ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.21 | 2.04 | +0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.47 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.54 | +0.12 |
Drawdowns
BNQP.DE vs. B4NQ.DE - Drawdown Comparison
The maximum BNQP.DE drawdown since its inception was -29.03%, roughly equal to the maximum B4NQ.DE drawdown of -29.78%. Use the drawdown chart below to compare losses from any high point for BNQP.DE and B4NQ.DE.
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Drawdown Indicators
| BNQP.DE | B4NQ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.03% | -29.78% | +0.75% |
Max Drawdown (1Y)Largest decline over 1 year | -8.63% | -9.40% | +0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -17.93% | -22.98% | +5.05% |
Max Drawdown (5Y)Largest decline over 5 years | -25.14% | -27.51% | +2.37% |
Current DrawdownCurrent decline from peak | -1.26% | -0.62% | -0.64% |
Average DrawdownAverage peak-to-trough decline | -9.15% | -11.05% | +1.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.49% | 2.85% | -0.36% |
Volatility
BNQP.DE vs. B4NQ.DE - Volatility Comparison
BNPP RICI Kupfer (TR) Enhanced ETC (BNQP.DE) and BNPP Kupfer (TR) ETC (B4NQ.DE) have volatilities of 5.70% and 5.45%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNQP.DE | B4NQ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.70% | 5.45% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 15.31% | 18.83% | -3.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.07% | 21.66% | -2.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.11% | 21.13% | -2.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.78% | 20.30% | -1.52% |
BNQP.DE vs. B4NQ.DE - Expense Ratio Comparison
BNQP.DE has a 1.00% expense ratio, which is higher than B4NQ.DE's 0.90% expense ratio.
Dividends
BNQP.DE vs. B4NQ.DE - Dividend Comparison
Neither BNQP.DE nor B4NQ.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, BNQP.DE and B4NQ.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 1.00% for BNQP.DE.
BNQP.DE tracks RICI Enhanced Copper, while B4NQ.DE tracks LME Copper Futures. Their fees differ too: 1.00% for BNQP.DE and 0.90% for B4NQ.DE.
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