IBCJ.DE vs. XESD.DE
IBCJ.DE (iShares MSCI Poland UCITS ETF USD (Acc)) and XESD.DE (Xtrackers Spanish Equity UCITS ETF) are both Europe Equities funds - IBCJ.DE tracks the MSCI Poland while XESD.DE tracks the Solactive Spain 40. Both are passively managed. Over the past 10 years, IBCJ.DE returned 9.25%/yr vs 13.66%/yr for XESD.DE. A 0.53 correlation means they provide meaningful diversification when combined. IBCJ.DE charges 0.74%/yr vs 0.30%/yr for XESD.DE.
Performance
IBCJ.DE vs. XESD.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 XESD.DE's 14.19% return. Over the past 10 years, IBCJ.DE has underperformed XESD.DE with an annualized return of 9.25%, while XESD.DE has yielded a comparatively higher 13.66% 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%
XESD.DE
- 1D
- -0.44%
- 1M
- 5.86%
- YTD
- 14.19%
- 6M
- 15.25%
- 1Y
- 46.96%
- 3Y*
- 31.59%
- 5Y*
- 20.24%
- 10Y*
- 13.66%
IBCJ.DE vs. XESD.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% |
XESD.DE Xtrackers Spanish Equity UCITS ETF | 14.19% | 58.72% | 14.57% | 26.76% | -1.63% | 10.91% | -10.10% | 15.69% | -12.39% | 12.92% |
Correlation
The correlation between IBCJ.DE and XESD.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 | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2013 | 0.53 |
The correlation between IBCJ.DE and XESD.DE has been stable across timeframes, ranging from 0.51 to 0.57 - a consistent structural relationship.
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Return for Risk
IBCJ.DE vs. XESD.DE — Risk / Return Rank
IBCJ.DE
XESD.DE
IBCJ.DE vs. XESD.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 Xtrackers Spanish Equity UCITS ETF (XESD.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 | XESD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.40 | ||
| Sortino ratioReturn per unit of downside risk | -1.70 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.49 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.15 | 4.55 | -1.40 |
| Martin ratioReturn relative to average drawdown | 7.68 | 16.04 | -8.36 |
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Drawdowns
IBCJ.DE vs. XESD.DE - Drawdown Comparison
The maximum IBCJ.DE drawdown since its inception was -67.13%, which is greater than XESD.DE's maximum drawdown of -38.76%. Use the drawdown chart below to compare losses from any high point for IBCJ.DE and XESD.DE.
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Drawdown Indicators
| IBCJ.DE | XESD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.13% | -38.76% | -28.37% |
Max Drawdown (1Y)Largest decline over 1 year | -9.98% | -10.28% | +0.30% |
Max Drawdown (3Y)Largest decline over 3 years | -18.52% | -12.49% | -6.03% |
Max Drawdown (5Y)Largest decline over 5 years | -47.29% | -18.55% | -28.74% |
Max Drawdown (10Y)Largest decline over 10 years | -56.09% | -38.76% | -17.33% |
Current DrawdownCurrent decline from peak | -6.09% | -0.62% | -5.47% |
Average DrawdownAverage peak-to-trough decline | -39.30% | -8.46% | -30.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.10% | 2.92% | +1.18% |
Volatility
IBCJ.DE vs. XESD.DE - Volatility Comparison
iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.DE) has a higher volatility of 6.18% compared to Xtrackers Spanish Equity UCITS ETF (XESD.DE) at 4.04%. This indicates that IBCJ.DE's price experiences larger fluctuations and is considered to be riskier than XESD.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 | XESD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.18% | 4.04% | +2.14% |
Volatility (6M)Calculated over the trailing 6-month period | 17.90% | 14.42% | +3.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.27% | 16.97% | +6.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.77% | 16.76% | +10.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.95% | 18.49% | +6.46% |
IBCJ.DE vs. XESD.DE - Expense Ratio Comparison
IBCJ.DE has a 0.74% expense ratio, which is higher than XESD.DE's 0.30% expense ratio.
Dividends
IBCJ.DE vs. XESD.DE - Dividend Comparison
IBCJ.DE has not paid dividends to shareholders, while XESD.DE's dividend yield for the trailing twelve months is around 2.35%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% | 0.00% |
XESD.DE Xtrackers Spanish Equity UCITS ETF | 2.35% | 2.43% | 3.14% | 2.56% | 3.98% | 1.51% | 4.30% | 3.35% | 4.48% | 2.51% | 1.14% | 0.42% |
Frequently Asked Questions
IBCJ.DE and XESD.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, XESD.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XESD.DE is cheaper with a 0.30% expense ratio, compared with 0.74% for IBCJ.DE.
IBCJ.DE tracks MSCI Poland, while XESD.DE tracks Solactive Spain 40. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.74% for IBCJ.DE and 0.30% for XESD.DE.
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