BNQP.DE vs. BCIM

Last updated Jun 5, 2026

BNQP.DE (BNPP RICI Kupfer (TR) Enhanced ETC) and BCIM (abrdn Bloomberg Industrial Metals Strategy K-1 Free ETF) are both Metals funds - BNQP.DE tracks the RICI Enhanced Copper while BCIM tracks the Bloomberg Industrial Metals. Both are passively managed. A 0.64 correlation means they provide meaningful diversification when combined. BNQP.DE charges 1.00%/yr vs 0.41%/yr for BCIM.

Performance

BNQP.DE vs. BCIM - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in BNPP RICI Kupfer (TR) Enhanced ETC (BNQP.DE) and abrdn Bloomberg Industrial Metals Strategy K-1 Free ETF (BCIM). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

BNQP.DE is traded in EUR, while BCIM is traded in USD. To make them comparable, the BCIM values have been converted to EUR using the latest available exchange rates.

Returns By Period

BNQP.DE

• 1D: 0.72%
• 1M: 6.09%
• YTD: 12.82%
• 6M: 23.25%
• 1Y: 42.24%
• 3Y*: 17.47%
• 5Y*: 9.93%
• 10Y*: —

BCIM

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BNQP.DE vs. BCIM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BNQP.DE BNPP RICI Kupfer (TR) Enhanced ETC	12.82%	20.92%	16.44%	2.18%	-3.18%	7.27%
BCIM abrdn Bloomberg Industrial Metals Strategy K-1 Free ETF	0.00%	-2.11%	10.12%	-12.39%	2.70%	7.58%

Correlation

The correlation between BNQP.DE and BCIM is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (All Time) Calculated using the full available price history since Sep 24, 2021	0.64

Over the past year, the correlation between BNQP.DE and BCIM has dropped to 0.38 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

Return for Risk

BNQP.DE vs. BCIM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BNQP.DE

BNQP.DE Risk / Return Rank: 75
BNQP.DE Sharpe Ratio Rank: 68
BNQP.DE Sortino Ratio Rank: 69
BNQP.DE Omega Ratio Rank: 68
BNQP.DE Calmar Ratio Rank: 87
BNQP.DE Martin Ratio Rank: 84

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.

BNQP.DE vs. BCIM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNPP RICI Kupfer (TR) Enhanced ETC (BNQP.DE) and abrdn Bloomberg Industrial Metals Strategy K-1 Free ETF (BCIM). 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	BCIM	Difference
Sharpe ratio: Return per unit of total volatility	2.21	—	—
Sortino ratio: Return per unit of downside risk	3.09	—	—
Omega ratio: Gain probability vs. loss probability	1.40	—	—
Calmar ratio: Return relative to maximum drawdown	4.87	—	—
Martin ratio: Return relative to average drawdown	16.92	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	BNQP.DE	BCIM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.21	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	—	—

Drawdowns

Drawdown Indicators

	BNQP.DE	BCIM	Difference
Max Drawdown Largest peak-to-trough decline	-29.03%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-8.63%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-17.93%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.14%	—	—
Current Drawdown Current decline from peak	-1.26%	—	—
Average Drawdown Average peak-to-trough decline	-9.15%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	—	—

Volatility

Volatility by Period

	BNQP.DE	BCIM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.70%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.31%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.07%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.11%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.78%	—	—

BNQP.DE vs. BCIM - Expense Ratio Comparison

BNQP.DE has a 1.00% expense ratio, which is higher than BCIM's 0.41% expense ratio.

Dividends

BNQP.DE vs. BCIM - Dividend Comparison

BNQP.DE has not paid dividends to shareholders, while BCIM's dividend yield for the trailing twelve months is around 3.77%.

Position	TTM	2025	2024	2023	2022	2021
BCIM abrdn Bloomberg Industrial Metals Strategy K-1 Free ETF	3.77%	3.77%	11.47%	3.36%	0.72%	1.57%
BNQP.DE BNPP RICI Kupfer (TR) Enhanced ETC	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BNQP.DE and BCIM in my portfolio?

BNQP.DE and BCIM have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BNQP.DE or BCIM?

On fees, BCIM is cheaper at 0.41% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BNQP.DE or BCIM?

BCIM is cheaper with a 0.41% expense ratio, compared with 1.00% for BNQP.DE.

What is the main difference between BNQP.DE and BCIM?

BNQP.DE tracks RICI Enhanced Copper, while BCIM tracks Bloomberg Industrial Metals. They also come from different issuers: BNP Paribas and Aberdeen. Their fees differ too: 1.00% for BNQP.DE and 0.41% for BCIM.