IBCJ.DE vs. EUNM.DE
IBCJ.DE (iShares MSCI Poland UCITS ETF USD (Acc)) and EUNM.DE (iShares MSCI EM UCITS ETF (Acc)) are both exchange-traded funds - IBCJ.DE is a Europe Equities fund tracking the MSCI Poland, while EUNM.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets. Both are passively managed. Over the past 10 years, IBCJ.DE returned 9.68%/yr vs 10.07%/yr for EUNM.DE. A 0.55 correlation means they provide meaningful diversification when combined. IBCJ.DE charges 0.74%/yr vs 0.18%/yr for EUNM.DE.
Performance
IBCJ.DE vs. EUNM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IBCJ.DE achieves a 17.51% return, which is significantly lower than EUNM.DE's 26.16% return. Both investments have delivered pretty close results over the past 10 years, with IBCJ.DE having a 9.68% annualized return and EUNM.DE not far ahead at 10.07%.
IBCJ.DE
- 1D
- 2.67%
- 1M
- 5.23%
- YTD
- 17.51%
- 6M
- 22.12%
- 1Y
- 43.44%
- 3Y*
- 30.32%
- 5Y*
- 15.41%
- 10Y*
- 9.68%
EUNM.DE
- 1D
- 3.17%
- 1M
- 4.59%
- YTD
- 26.16%
- 6M
- 28.73%
- 1Y
- 48.04%
- 3Y*
- 19.51%
- 5Y*
- 8.28%
- 10Y*
- 10.07%
IBCJ.DE vs. EUNM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBCJ.DE iShares MSCI Poland UCITS ETF USD (Acc) | 17.51% | 53.72% | -0.44% | 43.89% | -21.77% | 14.38% | -18.70% | -3.73% | -9.08% | 35.59% |
EUNM.DE iShares MSCI EM UCITS ETF (Acc) | 26.16% | 19.20% | 14.09% | 5.71% | -14.48% | 4.68% | 6.81% | 20.92% | -10.84% | 19.89% |
Correlation
The correlation between IBCJ.DE and EUNM.DE is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2011 | 0.55 |
The correlation between IBCJ.DE and EUNM.DE has been stable across timeframes, ranging from 0.47 to 0.55 - a consistent structural relationship.
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Return for Risk
IBCJ.DE vs. EUNM.DE — Risk / Return Rank
IBCJ.DE
EUNM.DE
IBCJ.DE vs. EUNM.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 iShares MSCI EM UCITS ETF (Acc) (EUNM.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 | EUNM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.46 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.98 | 4.40 | -0.42 |
| Martin ratioReturn relative to average drawdown | 9.85 | 15.27 | -5.42 |
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Drawdowns
IBCJ.DE vs. EUNM.DE - Drawdown Comparison
The maximum IBCJ.DE drawdown since its inception was -67.13%, which is greater than EUNM.DE's maximum drawdown of -35.91%. Use the drawdown chart below to compare losses from any high point for IBCJ.DE and EUNM.DE.
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Drawdown Indicators
| IBCJ.DE | EUNM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.13% | -35.91% | -31.22% |
Max Drawdown (1Y)Largest decline over 1 year | -9.98% | -10.47% | +0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -18.52% | -19.02% | +0.50% |
Max Drawdown (5Y)Largest decline over 5 years | -47.29% | -23.61% | -23.68% |
Max Drawdown (10Y)Largest decline over 10 years | -56.09% | -31.88% | -24.21% |
Current DrawdownCurrent decline from peak | -0.12% | -3.40% | +3.28% |
Average DrawdownAverage peak-to-trough decline | -39.39% | -10.51% | -28.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.03% | 3.02% | +1.01% |
Volatility
IBCJ.DE vs. EUNM.DE - Volatility Comparison
iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.DE) and iShares MSCI EM UCITS ETF (Acc) (EUNM.DE) have volatilities of 7.09% and 7.44%, 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
| IBCJ.DE | EUNM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.09% | 7.44% | -0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 17.74% | 15.75% | +1.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.41% | 18.43% | +4.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.73% | 16.83% | +9.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.10% | 18.22% | +6.88% |
IBCJ.DE vs. EUNM.DE - Expense Ratio Comparison
IBCJ.DE has a 0.74% expense ratio, which is higher than EUNM.DE's 0.18% expense ratio.
Dividends
IBCJ.DE vs. EUNM.DE - Dividend Comparison
Neither IBCJ.DE nor EUNM.DE has paid dividends to shareholders.
Frequently Asked Questions
IBCJ.DE and EUNM.DE have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNM.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNM.DE is cheaper with a 0.18% expense ratio, compared with 0.74% for IBCJ.DE.
IBCJ.DE is categorized as Europe Equities, while EUNM.DE is Emerging Markets Equities. IBCJ.DE tracks MSCI Poland, while EUNM.DE tracks MSCI Emerging Markets. Their fees differ too: 0.74% for IBCJ.DE and 0.18% for EUNM.DE.
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