OP2E.DE vs. FTGE.DE
OP2E.DE (Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR)) and FTGE.DE (First Trust Eurozone AlphaDEX UCITS ETF Acc) are both Europe Equities funds - OP2E.DE tracks the Bloomberg PAB Eurozone DM Large & Mid Cap while FTGE.DE tracks the Nasdaq AlphaDEX® Eurozone. Both are passively managed. Over the past 3 years, OP2E.DE returned 11.48%/yr vs 22.56%/yr for FTGE.DE. Their correlation of 0.82 suggests significant overlap in exposure. OP2E.DE charges 0.17%/yr vs 0.65%/yr for FTGE.DE.
Performance
OP2E.DE vs. FTGE.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 lower than FTGE.DE's 13.73% return.
OP2E.DE
- 1D
- 0.77%
- 1M
- 3.64%
- YTD
- 6.95%
- 6M
- 8.04%
- 1Y
- 12.68%
- 3Y*
- 11.48%
- 5Y*
- —
- 10Y*
- —
FTGE.DE
- 1D
- 0.51%
- 1M
- 0.87%
- YTD
- 13.73%
- 6M
- 16.65%
- 1Y
- 29.62%
- 3Y*
- 22.56%
- 5Y*
- 11.59%
- 10Y*
- —
OP2E.DE vs. FTGE.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% |
FTGE.DE First Trust Eurozone AlphaDEX UCITS ETF Acc | 13.73% | 39.79% | 9.52% | 12.43% | 2.54% |
Correlation
The correlation between OP2E.DE and FTGE.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 | 0.80 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2022 | 0.82 |
The correlation between OP2E.DE and FTGE.DE has been stable across timeframes, ranging from 0.80 to 0.82 - a consistent structural relationship.
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Return for Risk
OP2E.DE vs. FTGE.DE — Risk / Return Rank
OP2E.DE
FTGE.DE
OP2E.DE vs. FTGE.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 First Trust Eurozone AlphaDEX UCITS ETF Acc (FTGE.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 | FTGE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.30 | ||
| Sortino ratioReturn per unit of downside risk | -1.59 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.40 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 3.27 | -2.20 |
| Martin ratioReturn relative to average drawdown | 3.64 | 12.30 | -8.66 |
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 | FTGE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 2.16 | -1.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.65 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.88 | -0.03 |
Drawdowns
OP2E.DE vs. FTGE.DE - Drawdown Comparison
The maximum OP2E.DE drawdown since its inception was -16.56%, smaller than the maximum FTGE.DE drawdown of -26.63%. Use the drawdown chart below to compare losses from any high point for OP2E.DE and FTGE.DE.
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Drawdown Indicators
| OP2E.DE | FTGE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.56% | -26.63% | +10.07% |
Max Drawdown (1Y)Largest decline over 1 year | -11.92% | -9.38% | -2.54% |
Max Drawdown (3Y)Largest decline over 3 years | -16.56% | -16.12% | -0.44% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.63% | — |
Current DrawdownCurrent decline from peak | -0.25% | 0.00% | -0.25% |
Average DrawdownAverage peak-to-trough decline | -2.85% | -5.40% | +2.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 2.50% | +1.03% |
Volatility
OP2E.DE vs. FTGE.DE - Volatility Comparison
Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR) (OP2E.DE) has a higher volatility of 4.94% compared to First Trust Eurozone AlphaDEX UCITS ETF Acc (FTGE.DE) at 3.83%. This indicates that OP2E.DE's price experiences larger fluctuations and is considered to be riskier than FTGE.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 | FTGE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 3.83% | +1.11% |
Volatility (6M)Calculated over the trailing 6-month period | 12.42% | 11.63% | +0.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.98% | 14.23% | +0.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.18% | 17.58% | -2.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.18% | 18.41% | -3.23% |
OP2E.DE vs. FTGE.DE - Expense Ratio Comparison
OP2E.DE has a 0.17% expense ratio, which is lower than FTGE.DE's 0.65% expense ratio.
Dividends
OP2E.DE vs. FTGE.DE - Dividend Comparison
Neither OP2E.DE nor FTGE.DE has paid dividends to shareholders.
Frequently Asked Questions
OP2E.DE and FTGE.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 0.65% for FTGE.DE.
OP2E.DE tracks Bloomberg PAB Eurozone DM Large & Mid Cap, while FTGE.DE tracks Nasdaq AlphaDEX® Eurozone. They also come from different issuers: Natixis and First Trust. Their fees differ too: 0.17% for OP2E.DE and 0.65% for FTGE.DE.
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