OP2E.DE vs. AMES.DE
OP2E.DE (Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR)) and AMES.DE (Amundi ETF MSCI Spain UCITS ETF EUR) are both Europe Equities funds - OP2E.DE tracks the Bloomberg PAB Eurozone DM Large & Mid Cap while AMES.DE tracks the MSCI Spain. Both are passively managed. Over the past 3 years, OP2E.DE returned 11.48%/yr vs 29.84%/yr for AMES.DE. A 0.69 correlation means they provide meaningful diversification when combined. OP2E.DE charges 0.17%/yr vs 0.25%/yr for AMES.DE.
Performance
OP2E.DE vs. AMES.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with OP2E.DE having a 6.95% return and AMES.DE slightly higher at 7.00%.
OP2E.DE
- 1D
- 0.77%
- 1M
- 6.48%
- YTD
- 6.95%
- 6M
- 8.21%
- 1Y
- 12.90%
- 3Y*
- 11.48%
- 5Y*
- —
- 10Y*
- —
AMES.DE
- 1D
- 0.51%
- 1M
- 3.60%
- YTD
- 7.00%
- 6M
- 10.82%
- 1Y
- 33.98%
- 3Y*
- 29.84%
- 5Y*
- 19.21%
- 10Y*
- 11.05%
OP2E.DE vs. AMES.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% |
AMES.DE Amundi ETF MSCI Spain UCITS ETF EUR | 7.00% | 55.41% | 19.00% | 25.94% | 1.46% |
Correlation
The correlation between OP2E.DE and AMES.DE is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2022 | 0.69 |
The correlation between OP2E.DE and AMES.DE shifts across timeframes, from 0.69 (all time) to 0.81 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
OP2E.DE vs. AMES.DE — Risk / Return Rank
OP2E.DE
AMES.DE
OP2E.DE vs. AMES.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 Amundi ETF MSCI Spain UCITS ETF EUR (AMES.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 | AMES.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | -1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.37 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 3.40 | -2.32 |
| Martin ratioReturn relative to average drawdown | 3.64 | 11.80 | -8.16 |
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 | AMES.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 2.06 | -1.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.20 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.62 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.48 | +0.38 |
Drawdowns
OP2E.DE vs. AMES.DE - Drawdown Comparison
The maximum OP2E.DE drawdown since its inception was -16.56%, smaller than the maximum AMES.DE drawdown of -40.98%. Use the drawdown chart below to compare losses from any high point for OP2E.DE and AMES.DE.
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Drawdown Indicators
| OP2E.DE | AMES.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.56% | -40.98% | +24.42% |
Max Drawdown (1Y)Largest decline over 1 year | -11.92% | -9.95% | -1.97% |
Max Drawdown (3Y)Largest decline over 3 years | -16.56% | -12.58% | -3.98% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.77% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.98% | — |
Current DrawdownCurrent decline from peak | -0.25% | -0.52% | +0.27% |
Average DrawdownAverage peak-to-trough decline | -2.85% | -9.76% | +6.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 2.87% | +0.66% |
Volatility
OP2E.DE vs. AMES.DE - Volatility Comparison
Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR) (OP2E.DE) has a higher volatility of 4.94% compared to Amundi ETF MSCI Spain UCITS ETF EUR (AMES.DE) at 4.59%. This indicates that OP2E.DE's price experiences larger fluctuations and is considered to be riskier than AMES.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 | AMES.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 4.59% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 12.42% | 13.65% | -1.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.98% | 16.43% | -1.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.18% | 18.01% | -2.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.18% | 20.82% | -5.64% |
OP2E.DE vs. AMES.DE - Expense Ratio Comparison
OP2E.DE has a 0.17% expense ratio, which is lower than AMES.DE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
OP2E.DE vs. AMES.DE - Dividend Comparison
Neither OP2E.DE nor AMES.DE has paid dividends to shareholders.
Frequently Asked Questions
OP2E.DE and AMES.DE have a correlation of 0.81, 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 0.25% for AMES.DE.
OP2E.DE tracks Bloomberg PAB Eurozone DM Large & Mid Cap, while AMES.DE tracks MSCI Spain. They also come from different issuers: Natixis and Amundi. Their fees differ too: 0.17% for OP2E.DE and 0.25% for AMES.DE.
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