EMNE.DE vs. IBCJ.DE
EMNE.DE (iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist)) and IBCJ.DE (iShares MSCI Poland UCITS ETF USD (Acc)) are both Europe Equities funds from iShares - EMNE.DE tracks the MSCI EMU ESG Enhanced Focus CTB Index while IBCJ.DE tracks the MSCI Poland. Both are passively managed. Over the past 5 years, EMNE.DE returned 10.53%/yr vs 15.91%/yr for IBCJ.DE. A 0.52 correlation means they provide meaningful diversification when combined. EMNE.DE charges 0.12%/yr vs 0.74%/yr for IBCJ.DE.
Performance
EMNE.DE vs. IBCJ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EMNE.DE achieves a 10.66% return, which is significantly lower than IBCJ.DE's 19.96% return.
EMNE.DE
- 1D
- -0.22%
- 1M
- -0.33%
- 6M
- 7.66%
- YTD
- 10.66%
- 1Y
- 20.09%
- 3Y*
- 15.22%
- 5Y*
- 10.53%
- 10Y*
- —
IBCJ.DE
- 1D
- 0.12%
- 1M
- 3.28%
- 6M
- 16.04%
- YTD
- 19.96%
- 1Y
- 37.37%
- 3Y*
- 28.79%
- 5Y*
- 15.91%
- 10Y*
- 9.70%
EMNE.DE vs. IBCJ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMNE.DE iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) | 10.66% | 22.18% | 9.86% | 18.79% | -12.35% | 22.75% | 1.44% | 16.09% |
IBCJ.DE iShares MSCI Poland UCITS ETF USD (Acc) | 19.96% | 53.72% | -0.44% | 43.89% | -21.77% | 14.38% | -18.70% | -5.04% |
Correlation
The correlation between EMNE.DE and IBCJ.DE is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019 | 0.52 |
The correlation between EMNE.DE and IBCJ.DE has been stable across timeframes, ranging from 0.52 to 0.61 - a consistent structural relationship.
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Return for Risk
EMNE.DE vs. IBCJ.DE — Risk / Return Rank
EMNE.DE
IBCJ.DE
EMNE.DE vs. IBCJ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) (EMNE.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.
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.
| EMNE.DE | IBCJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.27 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 3.73 | -1.89 |
| Martin ratioReturn relative to average drawdown | 6.80 | 8.94 | -2.14 |
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Drawdowns
EMNE.DE vs. IBCJ.DE - Drawdown Comparison
The maximum EMNE.DE drawdown since its inception was -34.37%, smaller than the maximum IBCJ.DE drawdown of -67.13%. Use the drawdown chart below to compare losses from any high point for EMNE.DE and IBCJ.DE.
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Drawdown Indicators
| EMNE.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.37% | -67.13% | +32.76% |
Max Drawdown (1Y)Largest decline over 1 year | -10.90% | -9.98% | -0.92% |
Max Drawdown (3Y)Largest decline over 3 years | -15.10% | -18.52% | +3.42% |
Max Drawdown (5Y)Largest decline over 5 years | -24.70% | -47.29% | +22.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -56.09% | — |
Current DrawdownCurrent decline from peak | -2.07% | 0.00% | -2.07% |
Average DrawdownAverage peak-to-trough decline | -5.19% | -39.18% | +33.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.95% | 4.17% | -1.22% |
Volatility
EMNE.DE vs. IBCJ.DE - Volatility Comparison
The current volatility for iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) (EMNE.DE) is 3.83%, while iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.DE) has a volatility of 4.88%. This indicates that EMNE.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
| EMNE.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.83% | 4.88% | -1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 12.73% | 17.58% | -4.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.96% | 23.01% | -8.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.28% | 26.72% | -10.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.99% | 24.94% | -4.95% |
EMNE.DE vs. IBCJ.DE - Expense Ratio Comparison
EMNE.DE has a 0.12% expense ratio, which is lower than IBCJ.DE's 0.74% expense ratio.
Dividends
EMNE.DE vs. IBCJ.DE - Dividend Comparison
EMNE.DE's dividend yield for the trailing twelve months is around 2.37%, while IBCJ.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
EMNE.DE iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) | 2.37% | 2.61% | 2.95% | 3.17% | 3.34% | 2.40% | 1.85% | 2.67% |
IBCJ.DE iShares MSCI Poland UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMNE.DE and IBCJ.DE have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMNE.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMNE.DE is cheaper with a 0.12% expense ratio, compared with 0.74% for IBCJ.DE.
EMNE.DE tracks MSCI EMU ESG Enhanced Focus CTB Index, while IBCJ.DE tracks MSCI Poland. Their fees differ too: 0.12% for EMNE.DE and 0.74% for IBCJ.DE.
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