EMNU.DE vs. IBCJ.DE
EMNU.DE (iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist)) and IBCJ.DE (iShares MSCI Poland UCITS ETF USD (Acc)) are both Europe Equities funds from iShares - EMNU.DE tracks the MSCI Europe ESG Enhanced Focus while IBCJ.DE tracks the MSCI Poland. Both are passively managed. Over the past 5 years, EMNU.DE returned 8.68%/yr vs 14.80%/yr for IBCJ.DE. A 0.60 correlation means they provide meaningful diversification when combined. EMNU.DE charges 0.12%/yr vs 0.74%/yr for IBCJ.DE.
Performance
EMNU.DE vs. IBCJ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EMNU.DE achieves a 7.48% return, which is significantly lower than IBCJ.DE's 16.30% return.
EMNU.DE
- 1D
- 0.54%
- 1M
- 1.25%
- YTD
- 7.48%
- 6M
- 10.15%
- 1Y
- 15.70%
- 3Y*
- 12.86%
- 5Y*
- 8.68%
- 10Y*
- —
IBCJ.DE
- 1D
- 0.17%
- 1M
- 1.95%
- YTD
- 16.30%
- 6M
- 26.50%
- 1Y
- 40.90%
- 3Y*
- 29.89%
- 5Y*
- 14.80%
- 10Y*
- 9.17%
EMNU.DE vs. IBCJ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMNU.DE iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) | 7.48% | 17.95% | 7.97% | 15.57% | -12.29% | 25.49% | -1.40% | 11.32% |
IBCJ.DE iShares MSCI Poland UCITS ETF USD (Acc) | 16.30% | 53.66% | -0.42% | 43.86% | -21.74% | 14.34% | -18.69% | -1.95% |
Correlation
The correlation between EMNU.DE and IBCJ.DE is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since May 8, 2019 | 0.60 |
The correlation between EMNU.DE and IBCJ.DE has been stable across timeframes, ranging from 0.54 to 0.60 - a consistent structural relationship.
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Return for Risk
EMNU.DE vs. IBCJ.DE — Risk / Return Rank
EMNU.DE
IBCJ.DE
EMNU.DE vs. IBCJ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EMNU.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.
| EMNU.DE | IBCJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.28 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | 3.90 | -2.32 |
| Martin ratioReturn relative to average drawdown | 5.60 | 9.60 | -3.99 |
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
| EMNU.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 1.65 | -0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.55 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.15 | +0.43 |
Drawdowns
EMNU.DE vs. IBCJ.DE - Drawdown Comparison
The maximum EMNU.DE drawdown since its inception was -34.85%, smaller than the maximum IBCJ.DE drawdown of -56.11%. Use the drawdown chart below to compare losses from any high point for EMNU.DE and IBCJ.DE.
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Drawdown Indicators
| EMNU.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.85% | -56.11% | +21.26% |
Max Drawdown (1Y)Largest decline over 1 year | -10.00% | -9.96% | -0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -16.42% | -18.47% | +2.05% |
Max Drawdown (5Y)Largest decline over 5 years | -21.72% | -47.31% | +25.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -56.11% | — |
Current DrawdownCurrent decline from peak | -1.59% | -1.16% | -0.43% |
Average DrawdownAverage peak-to-trough decline | -5.31% | -19.38% | +14.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 4.05% | -1.23% |
Volatility
EMNU.DE vs. IBCJ.DE - Volatility Comparison
The current volatility for iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EMNU.DE) is 4.34%, while iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.DE) has a volatility of 7.13%. This indicates that EMNU.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
| EMNU.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 7.13% | -2.79% |
Volatility (6M)Calculated over the trailing 6-month period | 10.77% | 17.61% | -6.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.16% | 23.48% | -10.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.40% | 26.72% | -12.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.59% | 25.15% | -8.56% |
EMNU.DE vs. IBCJ.DE - Expense Ratio Comparison
EMNU.DE has a 0.12% expense ratio, which is lower than IBCJ.DE's 0.74% expense ratio.
Dividends
EMNU.DE vs. IBCJ.DE - Dividend Comparison
EMNU.DE's dividend yield for the trailing twelve months is around 2.40%, while IBCJ.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
EMNU.DE iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) | 2.40% | 2.58% | 2.92% | 2.80% | 3.02% | 2.25% | 1.90% | 2.63% |
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
EMNU.DE and IBCJ.DE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMNU.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMNU.DE is cheaper with a 0.12% expense ratio, compared with 0.74% for IBCJ.DE.
EMNU.DE tracks MSCI Europe ESG Enhanced Focus, while IBCJ.DE tracks MSCI Poland. Their fees differ too: 0.12% for EMNU.DE and 0.74% for IBCJ.DE.
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