CBUX.DE vs. OPEN.DE
CBUX.DE (iShares Global Infrastructure UCITS ETF USD (Acc)) and OPEN.DE (iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc)) are both exchange-traded funds - CBUX.DE is a Utilities Equities fund tracking the FTSE Global Core Infrastructure Index, while OPEN.DE is a Global Equities fund tracking the MSCI ACWI Value NR USD. Both are passively managed. Over the past 3 years, CBUX.DE returned 10.54%/yr vs 18.67%/yr for OPEN.DE. At a 0.46 correlation, their price movements are largely independent. CBUX.DE charges 0.65%/yr vs 0.25%/yr for OPEN.DE.
Performance
CBUX.DE vs. OPEN.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CBUX.DE achieves a 14.81% return, which is significantly lower than OPEN.DE's 23.89% return.
CBUX.DE
- 1D
- 0.49%
- 1M
- 1.14%
- YTD
- 14.81%
- 6M
- 15.89%
- 1Y
- 20.39%
- 3Y*
- 10.54%
- 5Y*
- —
- 10Y*
- —
OPEN.DE
- 1D
- 0.47%
- 1M
- 5.35%
- YTD
- 23.89%
- 6M
- 24.77%
- 1Y
- 35.76%
- 3Y*
- 18.67%
- 5Y*
- 12.27%
- 10Y*
- —
CBUX.DE vs. OPEN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CBUX.DE iShares Global Infrastructure UCITS ETF USD (Acc) | 14.81% | 0.75% | 14.53% | -1.47% |
OPEN.DE iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) | 23.89% | 10.42% | 14.10% | 5.91% |
Correlation
The correlation between CBUX.DE and OPEN.DE is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2023 | 0.46 |
Over the past year, the correlation between CBUX.DE and OPEN.DE has dropped to 0.24 - well below their long-term average of 0.46, suggesting their price drivers have been diverging.
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Return for Risk
CBUX.DE vs. OPEN.DE — Risk / Return Rank
CBUX.DE
OPEN.DE
CBUX.DE vs. OPEN.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Infrastructure UCITS ETF USD (Acc) (CBUX.DE) and iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) (OPEN.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.
| CBUX.DE | OPEN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.54 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 4.81 | 4.34 | +0.47 |
| Martin ratioReturn relative to average drawdown | 10.96 | 16.18 | -5.23 |
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Drawdowns
CBUX.DE vs. OPEN.DE - Drawdown Comparison
The maximum CBUX.DE drawdown since its inception was -14.96%, smaller than the maximum OPEN.DE drawdown of -33.08%. Use the drawdown chart below to compare losses from any high point for CBUX.DE and OPEN.DE.
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Drawdown Indicators
| CBUX.DE | OPEN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.96% | -33.08% | +18.12% |
Max Drawdown (1Y)Largest decline over 1 year | -4.22% | -8.20% | +3.98% |
Max Drawdown (3Y)Largest decline over 3 years | -14.96% | -19.74% | +4.78% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.74% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.02% | +1.02% |
Average DrawdownAverage peak-to-trough decline | -3.77% | -3.94% | +0.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | 2.20% | -0.34% |
Volatility
CBUX.DE vs. OPEN.DE - Volatility Comparison
The current volatility for iShares Global Infrastructure UCITS ETF USD (Acc) (CBUX.DE) is 4.49%, while iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) (OPEN.DE) has a volatility of 4.88%. This indicates that CBUX.DE experiences smaller price fluctuations and is considered to be less risky than OPEN.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBUX.DE | OPEN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.49% | 4.88% | -0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 8.95% | 10.30% | -1.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.72% | 12.38% | -1.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.99% | 13.20% | -1.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.99% | 15.56% | -3.57% |
CBUX.DE vs. OPEN.DE - Expense Ratio Comparison
CBUX.DE has a 0.65% expense ratio, which is higher than OPEN.DE's 0.25% expense ratio.
Dividends
CBUX.DE vs. OPEN.DE - Dividend Comparison
Neither CBUX.DE nor OPEN.DE has paid dividends to shareholders.
Frequently Asked Questions
CBUX.DE and OPEN.DE have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, OPEN.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
OPEN.DE is cheaper with a 0.25% expense ratio, compared with 0.65% for CBUX.DE.
CBUX.DE is categorized as Utilities Equities, while OPEN.DE is Global Equities. CBUX.DE tracks FTSE Global Core Infrastructure Index, while OPEN.DE tracks MSCI ACWI Value NR USD. Their fees differ too: 0.65% for CBUX.DE and 0.25% for OPEN.DE.
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