CEUG.DE vs. IBCJ.DE
CEUG.DE (iShares MSCI EMU UCITS ETF GBP Hedged (Dist)) and IBCJ.DE (iShares MSCI Poland UCITS ETF USD (Acc)) are both Europe Equities funds - CEUG.DE tracks the MSCI Europe NR EUR while IBCJ.DE tracks the MSCI Poland. Both are passively managed. Over the past 10 years, CEUG.DE returned 8.85%/yr vs 9.17%/yr for IBCJ.DE. A 0.58 correlation means they provide meaningful diversification when combined. CEUG.DE charges 0.12%/yr vs 0.74%/yr for IBCJ.DE.
Performance
CEUG.DE vs. IBCJ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CEUG.DE achieves a 7.45% return, which is significantly lower than IBCJ.DE's 16.30% return. Both investments have delivered pretty close results over the past 10 years, with CEUG.DE having a 8.85% annualized return and IBCJ.DE not far ahead at 9.17%.
CEUG.DE
- 1D
- 0.60%
- 1M
- 3.72%
- YTD
- 7.45%
- 6M
- 10.20%
- 1Y
- 16.71%
- 3Y*
- 13.62%
- 5Y*
- 9.35%
- 10Y*
- 8.85%
IBCJ.DE
- 1D
- 0.17%
- 1M
- 5.66%
- YTD
- 16.30%
- 6M
- 25.77%
- 1Y
- 38.98%
- 3Y*
- 29.89%
- 5Y*
- 14.80%
- 10Y*
- 9.17%
CEUG.DE vs. IBCJ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CEUG.DE iShares MSCI EMU UCITS ETF GBP Hedged (Dist) | 7.45% | 19.02% | 9.58% | 15.40% | -11.56% | 25.11% | -3.26% | 27.70% | -10.95% | 10.55% |
IBCJ.DE iShares MSCI Poland UCITS ETF USD (Acc) | 16.30% | 53.66% | -0.42% | 43.86% | -21.74% | 14.34% | -18.69% | -3.73% | -9.07% | 35.59% |
Correlation
The correlation between CEUG.DE and IBCJ.DE is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2011 | 0.58 |
The correlation between CEUG.DE and IBCJ.DE has been stable across timeframes, ranging from 0.55 to 0.58 - a consistent structural relationship.
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Return for Risk
CEUG.DE vs. IBCJ.DE — Risk / Return Rank
CEUG.DE
IBCJ.DE
CEUG.DE vs. IBCJ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EMU UCITS ETF GBP Hedged (Dist) (CEUG.DE) and iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.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.
| CEUG.DE | IBCJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.28 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 3.90 | -2.24 |
| Martin ratioReturn relative to average drawdown | 6.05 | 9.60 | -3.55 |
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
| CEUG.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.24 | 1.65 | -0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | 0.55 | +0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.36 | +0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.15 | +0.37 |
Drawdowns
CEUG.DE vs. IBCJ.DE - Drawdown Comparison
The maximum CEUG.DE drawdown since its inception was -35.67%, smaller than the maximum IBCJ.DE drawdown of -56.11%. Use the drawdown chart below to compare losses from any high point for CEUG.DE and IBCJ.DE.
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Drawdown Indicators
| CEUG.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.67% | -56.11% | +20.44% |
Max Drawdown (1Y)Largest decline over 1 year | -10.05% | -9.96% | -0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -16.67% | -18.47% | +1.80% |
Max Drawdown (5Y)Largest decline over 5 years | -21.04% | -47.31% | +26.27% |
Max Drawdown (10Y)Largest decline over 10 years | -35.67% | -56.11% | +20.44% |
Current DrawdownCurrent decline from peak | -1.56% | -1.16% | -0.40% |
Average DrawdownAverage peak-to-trough decline | -5.57% | -19.38% | +13.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.76% | 4.05% | -1.29% |
Volatility
CEUG.DE vs. IBCJ.DE - Volatility Comparison
The current volatility for iShares MSCI EMU UCITS ETF GBP Hedged (Dist) (CEUG.DE) is 4.42%, while iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.DE) has a volatility of 7.13%. This indicates that CEUG.DE experiences smaller price fluctuations and is considered to be less risky than IBCJ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEUG.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.42% | 7.13% | -2.71% |
Volatility (6M)Calculated over the trailing 6-month period | 11.04% | 17.61% | -6.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.41% | 23.48% | -10.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.36% | 26.72% | -12.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.62% | 25.15% | -9.53% |
CEUG.DE vs. IBCJ.DE - Expense Ratio Comparison
CEUG.DE has a 0.12% expense ratio, which is lower than IBCJ.DE's 0.74% expense ratio.
Dividends
CEUG.DE vs. IBCJ.DE - Dividend Comparison
Neither CEUG.DE nor IBCJ.DE has paid dividends to shareholders.
Frequently Asked Questions
CEUG.DE and IBCJ.DE have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CEUG.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEUG.DE is cheaper with a 0.12% expense ratio, compared with 0.74% for IBCJ.DE.
CEUG.DE tracks MSCI Europe NR EUR, while IBCJ.DE tracks MSCI Poland. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.12% for CEUG.DE and 0.74% for IBCJ.DE.
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