IBCJ.DE vs. XESP.DE
IBCJ.DE (iShares MSCI Poland UCITS ETF USD (Acc)) and XESP.DE (Xtrackers Spanish Equity UCITS ETF) are both Europe Equities funds - IBCJ.DE tracks the MSCI Poland while XESP.DE tracks the Solactive Spain 40. Both are passively managed. Over the past 10 years, IBCJ.DE returned 9.25%/yr vs 13.68%/yr for XESP.DE. A 0.53 correlation means they provide meaningful diversification when combined. IBCJ.DE charges 0.74%/yr vs 0.30%/yr for XESP.DE.
Performance
IBCJ.DE vs. XESP.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 XESP.DE's 14.35% return. Over the past 10 years, IBCJ.DE has underperformed XESP.DE with an annualized return of 9.25%, while XESP.DE has yielded a comparatively higher 13.68% 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%
XESP.DE
- 1D
- -0.45%
- 1M
- 6.12%
- YTD
- 14.35%
- 6M
- 15.38%
- 1Y
- 47.18%
- 3Y*
- 31.64%
- 5Y*
- 20.27%
- 10Y*
- 13.68%
IBCJ.DE vs. XESP.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% |
XESP.DE Xtrackers Spanish Equity UCITS ETF | 14.35% | 58.64% | 14.63% | 26.81% | -1.62% | 10.85% | -10.20% | 15.89% | -12.41% | 12.92% |
Correlation
The correlation between IBCJ.DE and XESP.DE is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
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 Apr 27, 2011 | 0.53 |
The correlation between IBCJ.DE and XESP.DE has been stable across timeframes, ranging from 0.52 to 0.58 - a consistent structural relationship.
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Return for Risk
IBCJ.DE vs. XESP.DE — Risk / Return Rank
IBCJ.DE
XESP.DE
IBCJ.DE vs. XESP.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 (XESP.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 | XESP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.42 | ||
| Sortino ratioReturn per unit of downside risk | -1.76 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.49 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.15 | 4.62 | -1.47 |
| Martin ratioReturn relative to average drawdown | 7.68 | 16.41 | -8.73 |
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Drawdowns
IBCJ.DE vs. XESP.DE - Drawdown Comparison
The maximum IBCJ.DE drawdown since its inception was -67.13%, which is greater than XESP.DE's maximum drawdown of -40.70%. Use the drawdown chart below to compare losses from any high point for IBCJ.DE and XESP.DE.
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Drawdown Indicators
| IBCJ.DE | XESP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.13% | -40.70% | -26.43% |
Max Drawdown (1Y)Largest decline over 1 year | -9.98% | -10.17% | +0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -18.52% | -12.92% | -5.60% |
Max Drawdown (5Y)Largest decline over 5 years | -47.29% | -18.56% | -28.73% |
Max Drawdown (10Y)Largest decline over 10 years | -56.09% | -39.03% | -17.06% |
Current DrawdownCurrent decline from peak | -6.09% | -0.54% | -5.55% |
Average DrawdownAverage peak-to-trough decline | -39.30% | -10.06% | -29.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.10% | 2.87% | +1.23% |
Volatility
IBCJ.DE vs. XESP.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 (XESP.DE) at 4.24%. This indicates that IBCJ.DE's price experiences larger fluctuations and is considered to be riskier than XESP.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 | XESP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.18% | 4.24% | +1.94% |
Volatility (6M)Calculated over the trailing 6-month period | 17.90% | 14.45% | +3.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.27% | 16.90% | +6.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.77% | 16.73% | +10.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.95% | 18.43% | +6.52% |
IBCJ.DE vs. XESP.DE - Expense Ratio Comparison
IBCJ.DE has a 0.74% expense ratio, which is higher than XESP.DE's 0.30% expense ratio.
Dividends
IBCJ.DE vs. XESP.DE - Dividend Comparison
Neither IBCJ.DE nor XESP.DE has paid dividends to shareholders.
Frequently Asked Questions
IBCJ.DE and XESP.DE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XESP.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XESP.DE is cheaper with a 0.30% expense ratio, compared with 0.74% for IBCJ.DE.
IBCJ.DE tracks MSCI Poland, while XESP.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 XESP.DE.
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