OP7E.DE vs. IQQN.DE
OP7E.DE (Ossiam Bloomberg USA PAB UCITS ETF (EUR)) and IQQN.DE (iShares MSCI North America UCITS ETF) are both Large Cap Blend Equities funds - OP7E.DE tracks the Bloomberg PAB US Large & Mid Cap while IQQN.DE tracks the MSCI North America. Both are passively managed. Over the past 3 years, OP7E.DE returned 16.14%/yr vs 18.64%/yr for IQQN.DE. With a 0.97 correlation, they move nearly in lockstep. OP7E.DE charges 0.12%/yr vs 0.40%/yr for IQQN.DE.
Performance
OP7E.DE vs. IQQN.DE - Performance Comparison
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Returns By Period
In the year-to-date period, OP7E.DE achieves a 9.44% return, which is significantly lower than IQQN.DE's 11.09% return.
OP7E.DE
- 1D
- -0.19%
- 1M
- 6.76%
- YTD
- 9.44%
- 6M
- 9.62%
- 1Y
- 18.97%
- 3Y*
- 16.14%
- 5Y*
- —
- 10Y*
- —
IQQN.DE
- 1D
- -0.05%
- 1M
- 5.20%
- YTD
- 11.09%
- 6M
- 11.12%
- 1Y
- 25.13%
- 3Y*
- 18.64%
- 5Y*
- 13.97%
- 10Y*
- 14.38%
OP7E.DE vs. IQQN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OP7E.DE Ossiam Bloomberg USA PAB UCITS ETF (EUR) | 9.44% | 1.18% | 29.02% | 22.72% | -14.67% |
IQQN.DE iShares MSCI North America UCITS ETF | 11.09% | 4.95% | 31.43% | 22.31% | -14.36% |
Correlation
The correlation between OP7E.DE and IQQN.DE is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2022 | 0.97 |
The correlation between OP7E.DE and IQQN.DE has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.
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Return for Risk
OP7E.DE vs. IQQN.DE — Risk / Return Rank
OP7E.DE
IQQN.DE
OP7E.DE vs. IQQN.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ossiam Bloomberg USA PAB UCITS ETF (EUR) (OP7E.DE) and iShares MSCI North America UCITS ETF (IQQN.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.
| OP7E.DE | IQQN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.40 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 3.46 | -1.35 |
| Martin ratioReturn relative to average drawdown | 6.82 | 12.25 | -5.43 |
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
| OP7E.DE | IQQN.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.56 | 2.16 | -0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.91 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.89 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | 0.59 | +0.17 |
Drawdowns
OP7E.DE vs. IQQN.DE - Drawdown Comparison
The maximum OP7E.DE drawdown since its inception was -23.71%, smaller than the maximum IQQN.DE drawdown of -52.40%. Use the drawdown chart below to compare losses from any high point for OP7E.DE and IQQN.DE.
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Drawdown Indicators
| OP7E.DE | IQQN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.71% | -52.40% | +28.69% |
Max Drawdown (1Y)Largest decline over 1 year | -8.94% | -7.22% | -1.72% |
Max Drawdown (3Y)Largest decline over 3 years | -23.71% | -23.46% | -0.25% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.38% | — |
Current DrawdownCurrent decline from peak | -0.50% | -0.35% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -4.90% | -9.11% | +4.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 2.05% | +0.72% |
Volatility
OP7E.DE vs. IQQN.DE - Volatility Comparison
Ossiam Bloomberg USA PAB UCITS ETF (EUR) (OP7E.DE) has a higher volatility of 3.07% compared to iShares MSCI North America UCITS ETF (IQQN.DE) at 2.66%. This indicates that OP7E.DE's price experiences larger fluctuations and is considered to be riskier than IQQN.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OP7E.DE | IQQN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.07% | 2.66% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 8.23% | 7.55% | +0.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.11% | 11.56% | +0.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.78% | 15.24% | -0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.78% | 16.09% | -1.31% |
OP7E.DE vs. IQQN.DE - Expense Ratio Comparison
OP7E.DE has a 0.12% expense ratio, which is lower than IQQN.DE's 0.40% expense ratio.
Dividends
OP7E.DE vs. IQQN.DE - Dividend Comparison
OP7E.DE has not paid dividends to shareholders, while IQQN.DE's dividend yield for the trailing twelve months is around 0.61%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IQQN.DE iShares MSCI North America UCITS ETF | 0.61% | 0.68% | 0.75% | 0.99% | 1.15% | 0.73% | 1.09% | 1.22% | 1.42% | 1.34% | 1.37% | 1.53% |
OP7E.DE Ossiam Bloomberg USA PAB UCITS ETF (EUR) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, OP7E.DE and IQQN.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, OP7E.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
OP7E.DE is cheaper with a 0.12% expense ratio, compared with 0.40% for IQQN.DE.
OP7E.DE tracks Bloomberg PAB US Large & Mid Cap, while IQQN.DE tracks MSCI North America. They also come from different issuers: Natixis and iShares. Their fees differ too: 0.12% for OP7E.DE and 0.40% for IQQN.DE.
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