BNQP.DE vs. ISTM
BNQP.DE (BNPP RICI Kupfer (TR) Enhanced ETC) and ISTM (iShares Strategic Metals ETF) are both exchange-traded funds - BNQP.DE is a Metals fund tracking the RICI Enhanced Copper, while ISTM is a Rare Earth & Strategic Metals fund tracking the ICE Strategic Re-Industrialization Metals Index. Both are passively managed. Over the past year, BNQP.DE returned 42.15% vs 31.39% for ISTM. A 0.68 correlation means they provide meaningful diversification when combined. BNQP.DE charges 1.00%/yr vs 0.49%/yr for ISTM.
Performance
BNQP.DE vs. ISTM - Performance Comparison
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Different Trading Currencies
BNQP.DE is traded in EUR, while ISTM is traded in USD. To make them comparable, the ISTM values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, BNQP.DE achieves a 11.95% return, which is significantly higher than ISTM's 4.27% return.
BNQP.DE
- 1D
- 0.00%
- 1M
- 0.30%
- 6M
- 5.14%
- YTD
- 11.95%
- 1Y
- 42.15%
- 3Y*
- 17.35%
- 5Y*
- 10.35%
- 10Y*
- —
ISTM
- 1D
- -1.06%
- 1M
- -6.48%
- 6M
- -6.95%
- YTD
- 4.27%
- 1Y
- 31.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BNQP.DE vs. ISTM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BNQP.DE BNPP RICI Kupfer (TR) Enhanced ETC | 11.95% | 20.92% | 16.44% | 0.50% |
ISTM iShares Strategic Metals ETF | 4.27% | 35.79% | 14.01% | -1.69% |
Correlation
The correlation between BNQP.DE and ISTM is 0.70, 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 | 0.70 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2023 | 0.68 |
The correlation between BNQP.DE and ISTM has been stable across timeframes, ranging from 0.68 to 0.70 - a consistent structural relationship.
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Return for Risk
BNQP.DE vs. ISTM — Risk / Return Rank
BNQP.DE
ISTM
BNQP.DE vs. ISTM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNPP RICI Kupfer (TR) Enhanced ETC (BNQP.DE) and iShares Strategic Metals ETF (ISTM). 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.
| BNQP.DE | ISTM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.12 | ||
| Sortino ratioReturn per unit of downside risk | +1.63 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.21 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 4.86 | 1.62 | +3.25 |
| Martin ratioReturn relative to average drawdown | 16.38 | 3.53 | +12.85 |
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Drawdowns
BNQP.DE vs. ISTM - Drawdown Comparison
The maximum BNQP.DE drawdown since its inception was -25.14%, which is greater than ISTM's maximum drawdown of -19.50%. Use the drawdown chart below to compare losses from any high point for BNQP.DE and ISTM.
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Drawdown Indicators
| BNQP.DE | ISTM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.14% | -19.50% | -5.64% |
Max Drawdown (1Y)Largest decline over 1 year | -8.63% | -19.50% | +10.87% |
Max Drawdown (3Y)Largest decline over 3 years | -17.93% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -25.14% | — | — |
Current DrawdownCurrent decline from peak | -2.02% | -16.44% | +14.42% |
Average DrawdownAverage peak-to-trough decline | -8.19% | -6.72% | -1.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 8.93% | -6.36% |
Volatility
BNQP.DE vs. ISTM - Volatility Comparison
The current volatility for BNPP RICI Kupfer (TR) Enhanced ETC (BNQP.DE) is 4.21%, while iShares Strategic Metals ETF (ISTM) has a volatility of 7.58%. This indicates that BNQP.DE experiences smaller price fluctuations and is considered to be less risky than ISTM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BNQP.DE | ISTM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.21% | 7.58% | -3.37% |
Volatility (6M)Calculated over the trailing 6-month period | 13.78% | 25.18% | -11.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.31% | 30.00% | -10.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.95% | 23.06% | -4.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.30% | 23.06% | -5.76% |
BNQP.DE vs. ISTM - Expense Ratio Comparison
BNQP.DE has a 1.00% expense ratio, which is higher than ISTM's 0.49% expense ratio.
Dividends
BNQP.DE vs. ISTM - Dividend Comparison
BNQP.DE has not paid dividends to shareholders, while ISTM's dividend yield for the trailing twelve months is around 14.62%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BNQP.DE BNPP RICI Kupfer (TR) Enhanced ETC | 0.00% | 0.00% | 0.00% | 0.00% |
ISTM iShares Strategic Metals ETF | 14.62% | 14.78% | 29.62% | 1.02% |
Frequently Asked Questions
BNQP.DE and ISTM have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ISTM is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ISTM is cheaper with a 0.49% expense ratio, compared with 1.00% for BNQP.DE.
BNQP.DE is categorized as Metals, while ISTM is Rare Earth & Strategic Metals. BNQP.DE tracks RICI Enhanced Copper, while ISTM tracks ICE Strategic Re-Industrialization Metals Index. They also come from different issuers: BNP Paribas and iShares. Their fees differ too: 1.00% for BNQP.DE and 0.49% for ISTM.
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