ECMA.DE vs. CBUJ.DE
ECMA.DE (Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc) and CBUJ.DE (iShares EUR Corporate Bond ESG Paris-Aligned Climate UCITS ETF EUR Dist) are both European Corporate Bonds funds - ECMA.DE tracks the Invesco EUR Corporate Bond ESG Multi-Factor while CBUJ.DE tracks the Bloomberg MSCI Euro Corporate Climate Paris Aligned ESG Select. Both are passively managed. Over the past 3 years, ECMA.DE returned 4.49%/yr vs 4.56%/yr for CBUJ.DE. With a 0.95 correlation, they move nearly in lockstep. ECMA.DE charges 0.19%/yr vs 0.15%/yr for CBUJ.DE.
Performance
ECMA.DE vs. CBUJ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ECMA.DE achieves a 0.50% return, which is significantly lower than CBUJ.DE's 0.55% return.
ECMA.DE
- 1D
- 0.10%
- 1M
- 0.29%
- YTD
- 0.50%
- 6M
- 0.46%
- 1Y
- 2.04%
- 3Y*
- 4.49%
- 5Y*
- —
- 10Y*
- —
CBUJ.DE
- 1D
- 0.16%
- 1M
- 0.34%
- YTD
- 0.55%
- 6M
- 0.50%
- 1Y
- 2.15%
- 3Y*
- 4.56%
- 5Y*
- —
- 10Y*
- —
ECMA.DE vs. CBUJ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ECMA.DE Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc | 0.50% | 2.90% | 4.30% | 7.06% | -1.21% |
CBUJ.DE iShares EUR Corporate Bond ESG Paris-Aligned Climate UCITS ETF EUR Dist | 0.55% | 3.00% | 4.25% | 7.46% | -1.11% |
Correlation
The correlation between ECMA.DE and CBUJ.DE is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2022 | 0.95 |
The correlation between ECMA.DE and CBUJ.DE has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.
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Return for Risk
ECMA.DE vs. CBUJ.DE — Risk / Return Rank
ECMA.DE
CBUJ.DE
ECMA.DE vs. CBUJ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc (ECMA.DE) and iShares EUR Corporate Bond ESG Paris-Aligned Climate UCITS ETF EUR Dist (CBUJ.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.
| ECMA.DE | CBUJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.11 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | 0.66 | -0.05 |
| Martin ratioReturn relative to average drawdown | 2.07 | 2.25 | -0.17 |
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
| ECMA.DE | CBUJ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.53 | 0.58 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.81 | 0.81 | 0.00 |
Drawdowns
ECMA.DE vs. CBUJ.DE - Drawdown Comparison
The maximum ECMA.DE drawdown since its inception was -8.91%, roughly equal to the maximum CBUJ.DE drawdown of -8.89%. Use the drawdown chart below to compare losses from any high point for ECMA.DE and CBUJ.DE.
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Drawdown Indicators
| ECMA.DE | CBUJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.91% | -8.89% | -0.02% |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | -2.73% | +0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -2.68% | -2.73% | +0.05% |
Current DrawdownCurrent decline from peak | -0.76% | -0.74% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -2.10% | -2.10% | 0.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 0.81% | -0.01% |
Volatility
ECMA.DE vs. CBUJ.DE - Volatility Comparison
Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc (ECMA.DE) and iShares EUR Corporate Bond ESG Paris-Aligned Climate UCITS ETF EUR Dist (CBUJ.DE) have volatilities of 1.28% and 1.28%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ECMA.DE | CBUJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 1.28% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 2.76% | 2.76% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.13% | 3.11% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.16% | 4.35% | -0.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.16% | 4.35% | -0.19% |
ECMA.DE vs. CBUJ.DE - Expense Ratio Comparison
ECMA.DE has a 0.19% expense ratio, which is higher than CBUJ.DE's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ECMA.DE vs. CBUJ.DE - Dividend Comparison
ECMA.DE has not paid dividends to shareholders, while CBUJ.DE's dividend yield for the trailing twelve months is around 3.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CBUJ.DE iShares EUR Corporate Bond ESG Paris-Aligned Climate UCITS ETF EUR Dist | 3.55% | 3.52% | 3.48% | 2.96% | 0.12% |
ECMA.DE Invesco EUR Corporate Bond ESG Multi-Factor UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, ECMA.DE and CBUJ.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, CBUJ.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBUJ.DE is cheaper with a 0.15% expense ratio, compared with 0.19% for ECMA.DE.
ECMA.DE tracks Invesco EUR Corporate Bond ESG Multi-Factor, while CBUJ.DE tracks Bloomberg MSCI Euro Corporate Climate Paris Aligned ESG Select. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for ECMA.DE and 0.15% for CBUJ.DE.
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