JRUD.DE vs. IBCY.DE

Last updated Jun 5, 2026

JRUD.DE (JPMorgan US Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)) and IBCY.DE (iShares Edge MSCI USA Multifactor UCITS ETF) are both Large Cap Blend Equities funds - JRUD.DE tracks the JP Morgan US Research Enhanced Index Equity (ESG) while IBCY.DE tracks the MSCI USA Diversified Multiple-Factor. Both are passively managed. Over the past 5 years, JRUD.DE returned 14.63%/yr vs 10.27%/yr for IBCY.DE. Their correlation of 0.91 suggests significant overlap in exposure. JRUD.DE charges 0.20%/yr vs 0.35%/yr for IBCY.DE.

Performance

JRUD.DE vs. IBCY.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in JPMorgan US Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRUD.DE) and iShares Edge MSCI USA Multifactor UCITS ETF (IBCY.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

JRUD.DE

• 1D: -0.13%
• 1M: 4.62%
• YTD: 10.50%
• 6M: 10.77%
• 1Y: 24.44%
• 3Y*: 18.26%
• 5Y*: 14.63%
• 10Y*: —

IBCY.DE

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 13.35%
• 3Y*: 13.97%
• 5Y*: 10.27%
• 10Y*: 11.22%

*Multi-year figures are annualized to reflect compound growth (CAGR)

JRUD.DE vs. IBCY.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
JRUD.DE JPMorgan US Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)	10.50%	3.71%	32.10%	23.94%	-14.78%	42.20%	8.45%	-0.59%
IBCY.DE iShares Edge MSCI USA Multifactor UCITS ETF	0.00%	6.35%	29.21%	13.73%	-11.70%	36.60%	0.17%	-0.97%

Correlation

The correlation between JRUD.DE and IBCY.DE is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Dec 23, 2019	0.91

Over the past year, the correlation between JRUD.DE and IBCY.DE has dropped to 0.55 - well below their long-term average of 0.91, suggesting their price drivers have been diverging.

Return for Risk

JRUD.DE vs. IBCY.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JRUD.DE

JRUD.DE Risk / Return Rank: 68
JRUD.DE Sharpe Ratio Rank: 65
JRUD.DE Sortino Ratio Rank: 64
JRUD.DE Omega Ratio Rank: 68
JRUD.DE Calmar Ratio Rank: 72
JRUD.DE Martin Ratio Rank: 72

IBCY.DE

IBCY.DE Risk / Return Rank: 72
IBCY.DE Sharpe Ratio Rank: 50
IBCY.DE Sortino Ratio Rank: 50
IBCY.DE Omega Ratio Rank: 90
IBCY.DE Calmar Ratio Rank: 80
IBCY.DE Martin Ratio Rank: 89

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

JRUD.DE vs. IBCY.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan US Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRUD.DE) and iShares Edge MSCI USA Multifactor UCITS ETF (IBCY.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.

	JRUD.DE	IBCY.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.14	1.70	+0.43
Sortino ratio: Return per unit of downside risk	2.92	2.42	+0.50
Omega ratio: Gain probability vs. loss probability	1.40	1.56	-0.16
Calmar ratio: Return relative to maximum drawdown	3.55	4.08	-0.54
Martin ratio: Return relative to average drawdown	13.27	19.99	-6.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JRUD.DE vs. IBCY.DE - Sharpe Ratio Comparison

The current JRUD.DE Sharpe Ratio is 2.14, which is comparable to the IBCY.DE Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of JRUD.DE and IBCY.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JRUD.DE	IBCY.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	1.70	+0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	0.69	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.69	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.63	+0.20

Drawdowns

JRUD.DE vs. IBCY.DE - Drawdown Comparison

The maximum JRUD.DE drawdown since its inception was -34.16%, roughly equal to the maximum IBCY.DE drawdown of -35.54%. Use the drawdown chart below to compare losses from any high point for JRUD.DE and IBCY.DE.

Drawdown Indicators

	JRUD.DE	IBCY.DE	Difference
Max Drawdown Largest peak-to-trough decline	-34.16%	-35.54%	+1.38%
Max Drawdown (1Y) Largest decline over 1 year	-6.86%	-3.26%	-3.60%
Max Drawdown (3Y) Largest decline over 3 years	-23.42%	-22.91%	-0.51%
Max Drawdown (5Y) Largest decline over 5 years	-23.42%	-22.91%	-0.51%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.54%	—
Current Drawdown Current decline from peak	-0.48%	0.00%	-0.48%
Average Drawdown Average peak-to-trough decline	-4.95%	-4.95%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	0.67%	+1.17%

Volatility

JRUD.DE vs. IBCY.DE - Volatility Comparison

JPMorgan US Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRUD.DE) has a higher volatility of 2.56% compared to iShares Edge MSCI USA Multifactor UCITS ETF (IBCY.DE) at 0.00%. This indicates that JRUD.DE's price experiences larger fluctuations and is considered to be riskier than IBCY.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JRUD.DE	IBCY.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.56%	0.00%	+2.56%
Volatility (6M) Calculated over the trailing 6-month period	7.41%	0.00%	+7.41%
Volatility (1Y) Calculated over the trailing 1-year period	11.40%	7.99%	+3.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.31%	14.77%	+0.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.76%	16.12%	+1.64%

JRUD.DE vs. IBCY.DE - Expense Ratio Comparison

JRUD.DE has a 0.20% expense ratio, which is lower than IBCY.DE's 0.35% expense ratio.

Dividends

JRUD.DE vs. IBCY.DE - Dividend Comparison

JRUD.DE's dividend yield for the trailing twelve months is around 0.58%, while IBCY.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
IBCY.DE iShares Edge MSCI USA Multifactor UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JRUD.DE JPMorgan US Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)	0.58%	0.57%	0.44%	0.78%	0.88%	0.65%

Frequently Asked Questions

Can I hold both JRUD.DE and IBCY.DE in my portfolio?

JRUD.DE and IBCY.DE have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JRUD.DE or IBCY.DE?

On fees, JRUD.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JRUD.DE or IBCY.DE?

JRUD.DE is cheaper with a 0.20% expense ratio, compared with 0.35% for IBCY.DE.

What is the main difference between JRUD.DE and IBCY.DE?

JRUD.DE tracks JP Morgan US Research Enhanced Index Equity (ESG), while IBCY.DE tracks MSCI USA Diversified Multiple-Factor. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.20% for JRUD.DE and 0.35% for IBCY.DE.