ETLN.DE vs. IBCJ.DE
ETLN.DE (L&G Europe ex UK Equity UCITS ETF) and IBCJ.DE (iShares MSCI Poland UCITS ETF USD (Acc)) are both Europe Equities funds - ETLN.DE tracks the Solactive Core Developed Markets Europe ex UK Large & Mid Cap while IBCJ.DE tracks the MSCI Poland. Both are passively managed. Over the past 5 years, ETLN.DE returned 9.33%/yr vs 14.80%/yr for IBCJ.DE. A 0.58 correlation means they provide meaningful diversification when combined. ETLN.DE charges 0.10%/yr vs 0.74%/yr for IBCJ.DE.
Performance
ETLN.DE vs. IBCJ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ETLN.DE achieves a 7.75% return, which is significantly lower than IBCJ.DE's 16.30% return.
ETLN.DE
- 1D
- 0.40%
- 1M
- 1.13%
- YTD
- 7.75%
- 6M
- 9.98%
- 1Y
- 16.15%
- 3Y*
- 13.52%
- 5Y*
- 9.33%
- 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%
ETLN.DE vs. IBCJ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ETLN.DE L&G Europe ex UK Equity UCITS ETF | 7.75% | 20.59% | 6.45% | 18.04% | -12.23% | 25.18% | 1.20% | 23.92% |
IBCJ.DE iShares MSCI Poland UCITS ETF USD (Acc) | 16.30% | 53.66% | -0.42% | 43.86% | -21.74% | 14.34% | -18.69% | -8.26% |
Correlation
The correlation between ETLN.DE and IBCJ.DE is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jan 17, 2019 | 0.58 |
The correlation between ETLN.DE and IBCJ.DE has been stable across timeframes, ranging from 0.56 to 0.59 - a consistent structural relationship.
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Return for Risk
ETLN.DE vs. IBCJ.DE — Risk / Return Rank
ETLN.DE
IBCJ.DE
ETLN.DE vs. IBCJ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Europe ex UK Equity UCITS ETF (ETLN.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.
| ETLN.DE | IBCJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.28 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 3.90 | -2.28 |
| Martin ratioReturn relative to average drawdown | 5.98 | 9.60 | -3.61 |
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
| ETLN.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.18 | 1.65 | -0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.61 | 0.55 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 0.15 | +0.55 |
Drawdowns
ETLN.DE vs. IBCJ.DE - Drawdown Comparison
The maximum ETLN.DE drawdown since its inception was -34.76%, smaller than the maximum IBCJ.DE drawdown of -56.11%. Use the drawdown chart below to compare losses from any high point for ETLN.DE and IBCJ.DE.
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Drawdown Indicators
| ETLN.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.76% | -56.11% | +21.35% |
Max Drawdown (1Y)Largest decline over 1 year | -10.09% | -9.96% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -16.98% | -18.47% | +1.49% |
Max Drawdown (5Y)Largest decline over 5 years | -22.47% | -47.31% | +24.84% |
Max Drawdown (10Y)Largest decline over 10 years | — | -56.11% | — |
Current DrawdownCurrent decline from peak | -1.56% | -1.16% | -0.40% |
Average DrawdownAverage peak-to-trough decline | -4.95% | -19.38% | +14.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 4.05% | -1.32% |
Volatility
ETLN.DE vs. IBCJ.DE - Volatility Comparison
The current volatility for L&G Europe ex UK Equity UCITS ETF (ETLN.DE) is 4.39%, while iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.DE) has a volatility of 7.13%. This indicates that ETLN.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
| ETLN.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.39% | 7.13% | -2.74% |
Volatility (6M)Calculated over the trailing 6-month period | 11.28% | 17.61% | -6.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.84% | 23.48% | -9.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.14% | 26.72% | -11.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.77% | 25.15% | -8.38% |
ETLN.DE vs. IBCJ.DE - Expense Ratio Comparison
ETLN.DE has a 0.10% expense ratio, which is lower than IBCJ.DE's 0.74% expense ratio.
Dividends
ETLN.DE vs. IBCJ.DE - Dividend Comparison
Neither ETLN.DE nor IBCJ.DE has paid dividends to shareholders.
Frequently Asked Questions
ETLN.DE and IBCJ.DE have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ETLN.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETLN.DE is cheaper with a 0.10% expense ratio, compared with 0.74% for IBCJ.DE.
ETLN.DE tracks Solactive Core Developed Markets Europe ex UK Large & Mid Cap, while IBCJ.DE tracks MSCI Poland. They also come from different issuers: Legal & General and iShares. Their fees differ too: 0.10% for ETLN.DE and 0.74% for IBCJ.DE.
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