OP2E.DE vs. EUN0.DE
OP2E.DE (Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR)) and EUN0.DE (iShares Edge MSCI Europe Minimum Volatility UCITS ETF) are both Europe Equities funds - OP2E.DE tracks the Bloomberg PAB Eurozone DM Large & Mid Cap while EUN0.DE tracks the MSCI Europe Minimum Volatility. Both are passively managed. Over the past 3 years, OP2E.DE returned 11.48%/yr vs 10.39%/yr for EUN0.DE. A 0.72 correlation means they provide meaningful diversification when combined. OP2E.DE charges 0.17%/yr vs 0.25%/yr for EUN0.DE.
Performance
OP2E.DE vs. EUN0.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 EUN0.DE's 5.60% return.
OP2E.DE
- 1D
- 0.77%
- 1M
- 6.48%
- YTD
- 6.95%
- 6M
- 8.21%
- 1Y
- 12.90%
- 3Y*
- 11.48%
- 5Y*
- —
- 10Y*
- —
EUN0.DE
- 1D
- 0.54%
- 1M
- 0.57%
- YTD
- 5.60%
- 6M
- 6.91%
- 1Y
- 5.46%
- 3Y*
- 10.39%
- 5Y*
- 7.36%
- 10Y*
- 6.66%
OP2E.DE vs. EUN0.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% |
EUN0.DE iShares Edge MSCI Europe Minimum Volatility UCITS ETF | 5.60% | 12.27% | 11.42% | 10.79% | -5.35% |
Correlation
The correlation between OP2E.DE and EUN0.DE is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2022 | 0.72 |
The correlation between OP2E.DE and EUN0.DE has been stable across timeframes, ranging from 0.68 to 0.72 - a consistent structural relationship.
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Return for Risk
OP2E.DE vs. EUN0.DE — Risk / Return Rank
OP2E.DE
EUN0.DE
OP2E.DE vs. EUN0.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 iShares Edge MSCI Europe Minimum Volatility UCITS ETF (EUN0.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 | EUN0.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.11 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 0.76 | +0.32 |
| Martin ratioReturn relative to average drawdown | 3.64 | 1.97 | +1.67 |
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 | EUN0.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 0.62 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.66 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.53 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.63 | +0.22 |
Drawdowns
OP2E.DE vs. EUN0.DE - Drawdown Comparison
The maximum OP2E.DE drawdown since its inception was -16.56%, smaller than the maximum EUN0.DE drawdown of -30.68%. Use the drawdown chart below to compare losses from any high point for OP2E.DE and EUN0.DE.
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Drawdown Indicators
| OP2E.DE | EUN0.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.56% | -30.68% | +14.12% |
Max Drawdown (1Y)Largest decline over 1 year | -11.92% | -7.16% | -4.76% |
Max Drawdown (3Y)Largest decline over 3 years | -16.56% | -10.73% | -5.83% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.64% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.68% | — |
Current DrawdownCurrent decline from peak | -0.25% | -3.12% | +2.87% |
Average DrawdownAverage peak-to-trough decline | -2.85% | -4.69% | +1.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 2.76% | +0.77% |
Volatility
OP2E.DE vs. EUN0.DE - Volatility Comparison
Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR) (OP2E.DE) has a higher volatility of 4.94% compared to iShares Edge MSCI Europe Minimum Volatility UCITS ETF (EUN0.DE) at 3.03%. This indicates that OP2E.DE's price experiences larger fluctuations and is considered to be riskier than EUN0.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 | EUN0.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 3.03% | +1.91% |
Volatility (6M)Calculated over the trailing 6-month period | 12.42% | 7.20% | +5.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.98% | 8.77% | +6.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.18% | 11.02% | +4.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.18% | 12.51% | +2.67% |
OP2E.DE vs. EUN0.DE - Expense Ratio Comparison
OP2E.DE has a 0.17% expense ratio, which is lower than EUN0.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. EUN0.DE - Dividend Comparison
Neither OP2E.DE nor EUN0.DE has paid dividends to shareholders.
Frequently Asked Questions
OP2E.DE and EUN0.DE have a correlation of 0.68, 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 EUN0.DE.
OP2E.DE tracks Bloomberg PAB Eurozone DM Large & Mid Cap, while EUN0.DE tracks MSCI Europe Minimum Volatility. They also come from different issuers: Natixis and iShares. Their fees differ too: 0.17% for OP2E.DE and 0.25% for EUN0.DE.
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