IBCJ.DE vs. AMES.DE
IBCJ.DE (iShares MSCI Poland UCITS ETF USD (Acc)) and AMES.DE (Amundi ETF MSCI Spain UCITS ETF EUR) are both Europe Equities funds - IBCJ.DE tracks the MSCI Poland while AMES.DE tracks the MSCI Spain. Both are passively managed. Over the past 10 years, IBCJ.DE returned 9.25%/yr vs 13.10%/yr for AMES.DE. At a 0.49 correlation, their price movements are largely independent. IBCJ.DE charges 0.74%/yr vs 0.25%/yr for AMES.DE.
Performance
IBCJ.DE vs. AMES.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBCJ.DE achieves a 12.56% return, which is significantly lower than AMES.DE's 14.05% return. Over the past 10 years, IBCJ.DE has underperformed AMES.DE with an annualized return of 9.25%, while AMES.DE has yielded a comparatively higher 13.10% annualized return.
IBCJ.DE
- 1D
- -0.94%
- 1M
- -3.12%
- YTD
- 12.56%
- 6M
- 13.21%
- 1Y
- 31.57%
- 3Y*
- 27.81%
- 5Y*
- 13.94%
- 10Y*
- 9.25%
AMES.DE
- 1D
- -0.42%
- 1M
- 6.08%
- YTD
- 14.05%
- 6M
- 14.95%
- 1Y
- 45.42%
- 3Y*
- 32.13%
- 5Y*
- 20.59%
- 10Y*
- 13.10%
IBCJ.DE vs. AMES.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBCJ.DE iShares MSCI Poland UCITS ETF USD (Acc) | 12.56% | 53.72% | -0.44% | 43.89% | -21.77% | 14.38% | -18.70% | -3.73% | -9.08% | 35.59% |
AMES.DE Amundi ETF MSCI Spain UCITS ETF EUR | 14.05% | 55.41% | 19.00% | 26.86% | -0.71% | 6.98% | -12.87% | 15.76% | -12.77% | 11.84% |
Correlation
The correlation between IBCJ.DE and AMES.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 | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2011 | 0.49 |
The correlation between IBCJ.DE and AMES.DE has been stable across timeframes, ranging from 0.49 to 0.56 - a consistent structural relationship.
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Return for Risk
IBCJ.DE vs. AMES.DE — Risk / Return Rank
IBCJ.DE
AMES.DE
IBCJ.DE vs. AMES.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.DE) and Amundi ETF MSCI Spain UCITS ETF EUR (AMES.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.
| IBCJ.DE | AMES.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.40 | ||
| Sortino ratioReturn per unit of downside risk | -1.72 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.49 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.15 | 4.54 | -1.39 |
| Martin ratioReturn relative to average drawdown | 7.68 | 16.06 | -8.38 |
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Drawdowns
IBCJ.DE vs. AMES.DE - Drawdown Comparison
The maximum IBCJ.DE drawdown since its inception was -67.13%, which is greater than AMES.DE's maximum drawdown of -40.98%. Use the drawdown chart below to compare losses from any high point for IBCJ.DE and AMES.DE.
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Drawdown Indicators
| IBCJ.DE | AMES.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.13% | -40.98% | -26.15% |
Max Drawdown (1Y)Largest decline over 1 year | -9.98% | -9.95% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -18.52% | -12.58% | -5.94% |
Max Drawdown (5Y)Largest decline over 5 years | -47.29% | -17.77% | -29.52% |
Max Drawdown (10Y)Largest decline over 10 years | -56.09% | -40.98% | -15.11% |
Current DrawdownCurrent decline from peak | -6.09% | -0.52% | -5.57% |
Average DrawdownAverage peak-to-trough decline | -39.30% | -10.09% | -29.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.10% | 2.82% | +1.28% |
Volatility
IBCJ.DE vs. AMES.DE - Volatility Comparison
iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.DE) has a higher volatility of 6.18% compared to Amundi ETF MSCI Spain UCITS ETF EUR (AMES.DE) at 4.03%. This indicates that IBCJ.DE's price experiences larger fluctuations and is considered to be riskier than AMES.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBCJ.DE | AMES.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.18% | 4.03% | +2.15% |
Volatility (6M)Calculated over the trailing 6-month period | 17.90% | 14.00% | +3.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.27% | 16.39% | +6.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.77% | 16.96% | +9.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.95% | 18.42% | +6.53% |
IBCJ.DE vs. AMES.DE - Expense Ratio Comparison
IBCJ.DE has a 0.74% expense ratio, which is higher than AMES.DE's 0.25% expense ratio.
Dividends
IBCJ.DE vs. AMES.DE - Dividend Comparison
Neither IBCJ.DE nor AMES.DE has paid dividends to shareholders.
Frequently Asked Questions
IBCJ.DE and AMES.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, AMES.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AMES.DE is cheaper with a 0.25% expense ratio, compared with 0.74% for IBCJ.DE.
IBCJ.DE tracks MSCI Poland, while AMES.DE tracks MSCI Spain. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.74% for IBCJ.DE and 0.25% for AMES.DE.
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