OP2E.DE vs. IBCJ.DE
OP2E.DE (Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR)) and IBCJ.DE (iShares MSCI Poland UCITS ETF USD (Acc)) are both Europe Equities funds - OP2E.DE tracks the Bloomberg PAB Eurozone DM Large & Mid Cap while IBCJ.DE tracks the MSCI Poland. Both are passively managed. Over the past 3 years, OP2E.DE returned 11.48%/yr vs 29.89%/yr for IBCJ.DE. A 0.55 correlation means they provide meaningful diversification when combined. OP2E.DE charges 0.17%/yr vs 0.74%/yr for IBCJ.DE.
Performance
OP2E.DE vs. IBCJ.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 IBCJ.DE's 16.30% return.
OP2E.DE
- 1D
- 0.77%
- 1M
- 3.64%
- YTD
- 6.95%
- 6M
- 8.04%
- 1Y
- 12.68%
- 3Y*
- 11.48%
- 5Y*
- —
- 10Y*
- —
IBCJ.DE
- 1D
- 0.17%
- 1M
- 1.95%
- YTD
- 16.30%
- 6M
- 26.50%
- 1Y
- 40.90%
- 3Y*
- 29.89%
- 5Y*
- 14.80%
- 10Y*
- 9.17%
OP2E.DE vs. IBCJ.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% |
IBCJ.DE iShares MSCI Poland UCITS ETF USD (Acc) | 16.30% | 53.66% | -0.42% | 43.86% | 13.22% |
Correlation
The correlation between OP2E.DE and IBCJ.DE is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2022 | 0.55 |
The correlation between OP2E.DE and IBCJ.DE has been stable across timeframes, ranging from 0.53 to 0.55 - a consistent structural relationship.
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Return for Risk
OP2E.DE vs. IBCJ.DE — Risk / Return Rank
OP2E.DE
IBCJ.DE
OP2E.DE vs. IBCJ.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 MSCI Poland UCITS ETF USD (Acc) (IBCJ.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 | IBCJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.28 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 3.90 | -2.82 |
| Martin ratioReturn relative to average drawdown | 3.64 | 9.60 | -5.96 |
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 | IBCJ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 1.65 | -0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.55 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.15 | +0.71 |
Drawdowns
OP2E.DE vs. IBCJ.DE - Drawdown Comparison
The maximum OP2E.DE drawdown since its inception was -16.56%, smaller than the maximum IBCJ.DE drawdown of -56.11%. Use the drawdown chart below to compare losses from any high point for OP2E.DE and IBCJ.DE.
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Drawdown Indicators
| OP2E.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.56% | -56.11% | +39.55% |
Max Drawdown (1Y)Largest decline over 1 year | -11.92% | -9.96% | -1.96% |
Max Drawdown (3Y)Largest decline over 3 years | -16.56% | -18.47% | +1.91% |
Max Drawdown (5Y)Largest decline over 5 years | — | -47.31% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -56.11% | — |
Current DrawdownCurrent decline from peak | -0.25% | -1.16% | +0.91% |
Average DrawdownAverage peak-to-trough decline | -2.85% | -19.38% | +16.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 4.05% | -0.52% |
Volatility
OP2E.DE vs. IBCJ.DE - Volatility Comparison
The current volatility for Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR) (OP2E.DE) is 4.94%, while iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.DE) has a volatility of 7.13%. This indicates that OP2E.DE experiences smaller price fluctuations and is considered to be less risky than IBCJ.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 | IBCJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 7.13% | -2.19% |
Volatility (6M)Calculated over the trailing 6-month period | 12.42% | 17.61% | -5.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.98% | 23.48% | -8.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.18% | 26.72% | -11.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.18% | 25.15% | -9.97% |
OP2E.DE vs. IBCJ.DE - Expense Ratio Comparison
OP2E.DE has a 0.17% expense ratio, which is lower than IBCJ.DE's 0.74% expense ratio.
Dividends
OP2E.DE vs. IBCJ.DE - Dividend Comparison
Neither OP2E.DE nor IBCJ.DE has paid dividends to shareholders.
Frequently Asked Questions
OP2E.DE and IBCJ.DE have a correlation of 0.53, 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 0.74% for IBCJ.DE.
OP2E.DE tracks Bloomberg PAB Eurozone DM Large & Mid Cap, while IBCJ.DE tracks MSCI Poland. They also come from different issuers: Natixis and iShares. Their fees differ too: 0.17% for OP2E.DE and 0.74% for IBCJ.DE.
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