BNQV.DE vs. ISTM
BNQV.DE (BNPP RICI Enhanced Industriemetalle (TR) ETC) and ISTM (iShares Strategic Metals ETF) are both Metals funds - BNQV.DE tracks the RICI Enhanced Industrial Metals while ISTM tracks the ICE Strategic Re-Industrialization Metals Index. Both are passively managed. Over the past year, BNQV.DE returned 30.50% vs 48.97% for ISTM. A 0.68 correlation means they provide meaningful diversification when combined. BNQV.DE charges 1.00%/yr vs 0.49%/yr for ISTM.
Performance
BNQV.DE vs. ISTM - Performance Comparison
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Different Trading Currencies
BNQV.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, BNQV.DE achieves a 13.96% return, which is significantly higher than ISTM's 10.89% return.
BNQV.DE
- 1D
- -0.40%
- 1M
- 4.63%
- YTD
- 13.96%
- 6M
- 17.14%
- 1Y
- 30.50%
- 3Y*
- 11.33%
- 5Y*
- 8.91%
- 10Y*
- —
ISTM
- 1D
- -3.59%
- 1M
- -1.42%
- YTD
- 10.89%
- 6M
- 20.53%
- 1Y
- 48.97%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BNQV.DE vs. ISTM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BNQV.DE BNPP RICI Enhanced Industriemetalle (TR) ETC | 13.96% | 5.40% | 12.60% | -3.00% |
ISTM iShares Strategic Metals ETF | 10.89% | 35.79% | 14.01% | -1.69% |
Correlation
The correlation between BNQV.DE and ISTM is 0.62, 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 | 0.62 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2023 | 0.68 |
The correlation between BNQV.DE and ISTM has been stable across timeframes, ranging from 0.62 to 0.68 - a consistent structural relationship.
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Return for Risk
BNQV.DE vs. ISTM — Risk / Return Rank
BNQV.DE
ISTM
BNQV.DE vs. ISTM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNPP RICI Enhanced Industriemetalle (TR) ETC (BNQV.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.
| BNQV.DE | ISTM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.32 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 4.03 | 2.52 | +1.50 |
| Martin ratioReturn relative to average drawdown | 14.99 | 6.38 | +8.61 |
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
| BNQV.DE | ISTM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.13 | 1.67 | +0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.94 | -0.51 |
Drawdowns
BNQV.DE vs. ISTM - Drawdown Comparison
The maximum BNQV.DE drawdown since its inception was -33.62%, which is greater than ISTM's maximum drawdown of -19.50%. Use the drawdown chart below to compare losses from any high point for BNQV.DE and ISTM.
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Drawdown Indicators
| BNQV.DE | ISTM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.62% | -19.50% | -14.12% |
Max Drawdown (1Y)Largest decline over 1 year | -7.60% | -19.50% | +11.90% |
Max Drawdown (3Y)Largest decline over 3 years | -17.34% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -33.62% | — | — |
Current DrawdownCurrent decline from peak | -5.83% | -11.13% | +5.30% |
Average DrawdownAverage peak-to-trough decline | -15.64% | -6.45% | -9.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 7.70% | -5.65% |
Volatility
BNQV.DE vs. ISTM - Volatility Comparison
The current volatility for BNPP RICI Enhanced Industriemetalle (TR) ETC (BNQV.DE) is 4.28%, while iShares Strategic Metals ETF (ISTM) has a volatility of 8.61%. This indicates that BNQV.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
| BNQV.DE | ISTM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.28% | 8.61% | -4.33% |
Volatility (6M)Calculated over the trailing 6-month period | 12.25% | 26.86% | -14.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.37% | 29.41% | -15.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.41% | 23.00% | -4.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.81% | 23.00% | -6.19% |
BNQV.DE vs. ISTM - Expense Ratio Comparison
BNQV.DE has a 1.00% expense ratio, which is higher than ISTM's 0.49% expense ratio.
Dividends
BNQV.DE vs. ISTM - Dividend Comparison
BNQV.DE has not paid dividends to shareholders, while ISTM's dividend yield for the trailing twelve months is around 13.59%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
BNQV.DE BNPP RICI Enhanced Industriemetalle (TR) ETC | 0.00% | 0.00% | 0.00% | 0.00% |
ISTM iShares Strategic Metals ETF | 13.59% | 14.78% | 29.62% | 1.02% |
Frequently Asked Questions
BNQV.DE and ISTM have a correlation of 0.62, 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 BNQV.DE.
BNQV.DE tracks RICI Enhanced Industrial Metals, 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 BNQV.DE and 0.49% for ISTM.
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