OP2E.DE vs. 5HEE.DE
OP2E.DE (Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR)) and 5HEE.DE (Ossiam ESG Low Carbon Shiller Barclays CAPE® US Sector UCITS ETF (EUR)) are both exchange-traded funds - OP2E.DE is a Europe Equities fund tracking the Bloomberg PAB Eurozone DM Large & Mid Cap, while 5HEE.DE is a Large Cap Blend Equities fund tracking the Ossiam ESG Low Carbon Shiller Barclays CAPE® US Sector. Both are passively managed. Over the past 3 years, OP2E.DE returned 11.48%/yr vs 1.44%/yr for 5HEE.DE. A 0.53 correlation means they provide meaningful diversification when combined. OP2E.DE charges 0.17%/yr vs 0.75%/yr for 5HEE.DE.
Performance
OP2E.DE vs. 5HEE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, OP2E.DE achieves a 6.95% return, which is significantly higher than 5HEE.DE's -0.31% return.
OP2E.DE
- 1D
- 0.77%
- 1M
- 3.64%
- YTD
- 6.95%
- 6M
- 8.04%
- 1Y
- 12.68%
- 3Y*
- 11.48%
- 5Y*
- —
- 10Y*
- —
5HEE.DE
- 1D
- 1.23%
- 1M
- -1.11%
- YTD
- -0.31%
- 6M
- 0.59%
- 1Y
- 4.21%
- 3Y*
- 1.44%
- 5Y*
- 3.33%
- 10Y*
- —
OP2E.DE vs. 5HEE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OP2E.DE Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR) | 6.95% | 15.46% | 7.37% | 19.25% | 0.85% |
5HEE.DE Ossiam ESG Low Carbon Shiller Barclays CAPE® US Sector UCITS ETF (EUR) | -0.31% | -7.39% | 10.30% | 11.99% | -14.41% |
Correlation
The correlation between OP2E.DE and 5HEE.DE is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2022 | 0.53 |
The correlation between OP2E.DE and 5HEE.DE has been stable across timeframes, ranging from 0.46 to 0.53 - a consistent structural relationship.
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Return for Risk
OP2E.DE vs. 5HEE.DE — Risk / Return Rank
OP2E.DE
5HEE.DE
OP2E.DE vs. 5HEE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR) (OP2E.DE) and Ossiam ESG Low Carbon Shiller Barclays CAPE® US Sector UCITS ETF (EUR) (5HEE.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.
| OP2E.DE | 5HEE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.06 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 0.51 | +0.57 |
| Martin ratioReturn relative to average drawdown | 3.64 | 1.26 | +2.38 |
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
| OP2E.DE | 5HEE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 0.32 | +0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.22 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.51 | +0.35 |
Drawdowns
OP2E.DE vs. 5HEE.DE - Drawdown Comparison
The maximum OP2E.DE drawdown since its inception was -16.56%, smaller than the maximum 5HEE.DE drawdown of -32.56%. Use the drawdown chart below to compare losses from any high point for OP2E.DE and 5HEE.DE.
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Drawdown Indicators
| OP2E.DE | 5HEE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.56% | -32.56% | +16.00% |
Max Drawdown (1Y)Largest decline over 1 year | -11.92% | -6.95% | -4.97% |
Max Drawdown (3Y)Largest decline over 3 years | -16.56% | -22.48% | +5.92% |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.48% | — |
Current DrawdownCurrent decline from peak | -0.25% | -11.85% | +11.60% |
Average DrawdownAverage peak-to-trough decline | -2.85% | -6.34% | +3.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 2.80% | +0.73% |
Volatility
OP2E.DE vs. 5HEE.DE - Volatility Comparison
Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR) (OP2E.DE) has a higher volatility of 4.94% compared to Ossiam ESG Low Carbon Shiller Barclays CAPE® US Sector UCITS ETF (EUR) (5HEE.DE) at 3.31%. This indicates that OP2E.DE's price experiences larger fluctuations and is considered to be riskier than 5HEE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OP2E.DE | 5HEE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 3.31% | +1.63% |
Volatility (6M)Calculated over the trailing 6-month period | 12.42% | 7.54% | +4.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.98% | 10.94% | +4.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.18% | 14.91% | +0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.18% | 16.90% | -1.72% |
OP2E.DE vs. 5HEE.DE - Expense Ratio Comparison
OP2E.DE has a 0.17% expense ratio, which is lower than 5HEE.DE's 0.75% expense ratio.
Dividends
OP2E.DE vs. 5HEE.DE - Dividend Comparison
Neither OP2E.DE nor 5HEE.DE has paid dividends to shareholders.
Frequently Asked Questions
OP2E.DE and 5HEE.DE have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, OP2E.DE is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
OP2E.DE is cheaper with a 0.17% expense ratio, compared with 0.75% for 5HEE.DE.
OP2E.DE is categorized as Europe Equities, while 5HEE.DE is Large Cap Blend Equities. OP2E.DE tracks Bloomberg PAB Eurozone DM Large & Mid Cap, while 5HEE.DE tracks Ossiam ESG Low Carbon Shiller Barclays CAPE® US Sector. Their fees differ too: 0.17% for OP2E.DE and 0.75% for 5HEE.DE.
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