JRGD.DE vs. IBCZ.DE
JRGD.DE (JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)) and IBCZ.DE (iShares Edge MSCI World Multifactor UCITS ETF USD (Acc)) are both Global Equities funds - JRGD.DE tracks the JP Morgan Global Research Enhanced Index Equity (ESG) while IBCZ.DE tracks the MSCI World Diversified Multiple-Factor. Both are passively managed. Over the past 3 years, JRGD.DE returned 16.83%/yr vs 18.64%/yr for IBCZ.DE. Their correlation of 0.94 suggests significant overlap in exposure. JRGD.DE charges 0.25%/yr vs 0.50%/yr for IBCZ.DE.
Performance
JRGD.DE vs. IBCZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, JRGD.DE achieves a 10.32% return, which is significantly lower than IBCZ.DE's 13.04% return.
JRGD.DE
- 1D
- 0.00%
- 1M
- 4.30%
- YTD
- 10.32%
- 6M
- 10.92%
- 1Y
- 22.73%
- 3Y*
- 16.83%
- 5Y*
- —
- 10Y*
- —
IBCZ.DE
- 1D
- -0.16%
- 1M
- 5.84%
- YTD
- 13.04%
- 6M
- 13.70%
- 1Y
- 27.80%
- 3Y*
- 18.64%
- 5Y*
- 12.00%
- 10Y*
- 11.45%
JRGD.DE vs. IBCZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JRGD.DE JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) | 10.32% | 6.67% | 25.38% | 21.25% | -13.07% | 10.88% |
IBCZ.DE iShares Edge MSCI World Multifactor UCITS ETF USD (Acc) | 13.04% | 12.05% | 24.09% | 11.45% | -10.83% | 9.31% |
Correlation
The correlation between JRGD.DE and IBCZ.DE is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2021 | 0.95 |
The correlation between JRGD.DE and IBCZ.DE has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.
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Return for Risk
JRGD.DE vs. IBCZ.DE — Risk / Return Rank
JRGD.DE
IBCZ.DE
JRGD.DE vs. IBCZ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRGD.DE) and iShares Edge MSCI World Multifactor UCITS ETF USD (Acc) (IBCZ.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.
| JRGD.DE | IBCZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.45 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.73 | 5.23 | -1.50 |
| Martin ratioReturn relative to average drawdown | 15.47 | 20.97 | -5.50 |
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
| JRGD.DE | IBCZ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.07 | 2.42 | -0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.84 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.75 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.85 | 0.69 | +0.16 |
Drawdowns
JRGD.DE vs. IBCZ.DE - Drawdown Comparison
The maximum JRGD.DE drawdown since its inception was -21.56%, smaller than the maximum IBCZ.DE drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for JRGD.DE and IBCZ.DE.
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Drawdown Indicators
| JRGD.DE | IBCZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.56% | -33.99% | +12.43% |
Max Drawdown (1Y)Largest decline over 1 year | -6.06% | -5.29% | -0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -21.56% | -19.98% | -1.58% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.99% | — |
Current DrawdownCurrent decline from peak | -0.35% | -0.60% | +0.25% |
Average DrawdownAverage peak-to-trough decline | -4.26% | -4.52% | +0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.47% | 1.32% | +0.15% |
Volatility
JRGD.DE vs. IBCZ.DE - Volatility Comparison
The current volatility for JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRGD.DE) is 2.43%, while iShares Edge MSCI World Multifactor UCITS ETF USD (Acc) (IBCZ.DE) has a volatility of 3.05%. This indicates that JRGD.DE experiences smaller price fluctuations and is considered to be less risky than IBCZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JRGD.DE | IBCZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.43% | 3.05% | -0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 7.47% | 8.16% | -0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.91% | 11.42% | -0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.33% | 14.11% | +0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.33% | 15.13% | -0.80% |
JRGD.DE vs. IBCZ.DE - Expense Ratio Comparison
JRGD.DE has a 0.25% expense ratio, which is lower than IBCZ.DE's 0.50% expense ratio.
Dividends
JRGD.DE vs. IBCZ.DE - Dividend Comparison
JRGD.DE's dividend yield for the trailing twelve months is around 0.89%, while IBCZ.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
IBCZ.DE iShares Edge MSCI World Multifactor UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JRGD.DE JPMorgan Global Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) | 0.89% | 0.89% | 0.91% | 0.85% | 1.44% |
Frequently Asked Questions
With a correlation of 0.92, JRGD.DE and IBCZ.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, JRGD.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JRGD.DE is cheaper with a 0.25% expense ratio, compared with 0.50% for IBCZ.DE.
JRGD.DE tracks JP Morgan Global Research Enhanced Index Equity (ESG), while IBCZ.DE tracks MSCI World Diversified Multiple-Factor. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.25% for JRGD.DE and 0.50% for IBCZ.DE.
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