OPEN.DE vs. CBUG.DE
OPEN.DE (iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc)) and CBUG.DE (iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist)) are both Global Equities funds from iShares - OPEN.DE tracks the MSCI ACWI Value NR USD while CBUG.DE tracks the MSCI ACWI SMID NR USD. Both are passively managed. Over the past 3 years, OPEN.DE returned 16.69%/yr vs 13.75%/yr for CBUG.DE. Their correlation of 0.84 suggests significant overlap in exposure. OPEN.DE charges 0.25%/yr vs 0.10%/yr for CBUG.DE.
Performance
OPEN.DE vs. CBUG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, OPEN.DE achieves a 19.86% return, which is significantly higher than CBUG.DE's 14.43% return.
OPEN.DE
- 1D
- -0.71%
- 1M
- 10.85%
- YTD
- 19.86%
- 6M
- 21.67%
- 1Y
- 28.74%
- 3Y*
- 16.69%
- 5Y*
- 11.65%
- 10Y*
- —
CBUG.DE
- 1D
- 0.52%
- 1M
- 4.17%
- YTD
- 14.43%
- 6M
- 15.69%
- 1Y
- 28.51%
- 3Y*
- 13.75%
- 5Y*
- —
- 10Y*
- —
OPEN.DE vs. CBUG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OPEN.DE iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) | 19.86% | 10.46% | 14.15% | 11.37% | -3.82% | 3.10% |
CBUG.DE iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist) | 14.43% | 6.47% | 13.17% | 11.34% | -14.17% | 2.96% |
Correlation
The correlation between OPEN.DE and CBUG.DE is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2021 | 0.84 |
The correlation between OPEN.DE and CBUG.DE shifts across timeframes, from 0.72 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
OPEN.DE vs. CBUG.DE — Risk / Return Rank
OPEN.DE
CBUG.DE
OPEN.DE vs. CBUG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) (OPEN.DE) and iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist) (CBUG.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.
| OPEN.DE | CBUG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.37 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.51 | 3.94 | -0.43 |
| Martin ratioReturn relative to average drawdown | 12.97 | 14.66 | -1.69 |
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
| OPEN.DE | CBUG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.40 | 2.04 | +0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.88 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.42 | +0.34 |
Drawdowns
OPEN.DE vs. CBUG.DE - Drawdown Comparison
The maximum OPEN.DE drawdown since its inception was -33.09%, which is greater than CBUG.DE's maximum drawdown of -24.59%. Use the drawdown chart below to compare losses from any high point for OPEN.DE and CBUG.DE.
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Drawdown Indicators
| OPEN.DE | CBUG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.09% | -24.59% | -8.50% |
Max Drawdown (1Y)Largest decline over 1 year | -8.16% | -7.21% | -0.95% |
Max Drawdown (3Y)Largest decline over 3 years | -19.68% | -24.59% | +4.91% |
Max Drawdown (5Y)Largest decline over 5 years | -19.68% | — | — |
Current DrawdownCurrent decline from peak | -2.06% | 0.00% | -2.06% |
Average DrawdownAverage peak-to-trough decline | -3.97% | -7.48% | +3.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 1.94% | +0.27% |
Volatility
OPEN.DE vs. CBUG.DE - Volatility Comparison
iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) (OPEN.DE) has a higher volatility of 4.89% compared to iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist) (CBUG.DE) at 3.41%. This indicates that OPEN.DE's price experiences larger fluctuations and is considered to be riskier than CBUG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OPEN.DE | CBUG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.89% | 3.41% | +1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 9.68% | 9.78% | -0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.93% | 13.90% | -1.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.04% | 16.71% | -3.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.46% | 16.71% | -1.25% |
OPEN.DE vs. CBUG.DE - Expense Ratio Comparison
OPEN.DE has a 0.25% expense ratio, which is higher than CBUG.DE's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
OPEN.DE vs. CBUG.DE - Dividend Comparison
Neither OPEN.DE nor CBUG.DE has paid dividends to shareholders.
Frequently Asked Questions
OPEN.DE and CBUG.DE have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CBUG.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBUG.DE is cheaper with a 0.10% expense ratio, compared with 0.25% for OPEN.DE.
OPEN.DE tracks MSCI ACWI Value NR USD, while CBUG.DE tracks MSCI ACWI SMID NR USD. Their fees differ too: 0.25% for OPEN.DE and 0.10% for CBUG.DE.
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