OPEN.DE vs. PSWD.DE
OPEN.DE (iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc)) and PSWD.DE (Invesco FTSE RAFI All World 3000 UCITS ETF) are both Global Equities funds - OPEN.DE tracks the MSCI ACWI Value NR USD while PSWD.DE tracks the FTSE RAFI All-World 3000. Both are passively managed. Over the past 5 years, OPEN.DE returned 12.16%/yr vs 13.47%/yr for PSWD.DE. Their correlation of 0.86 suggests significant overlap in exposure. OPEN.DE charges 0.25%/yr vs 0.39%/yr for PSWD.DE.
Performance
OPEN.DE vs. PSWD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, OPEN.DE achieves a 23.31% return, which is significantly higher than PSWD.DE's 17.33% return.
OPEN.DE
- 1D
- 0.95%
- 1M
- 5.59%
- YTD
- 23.31%
- 6M
- 24.18%
- 1Y
- 34.61%
- 3Y*
- 18.36%
- 5Y*
- 12.16%
- 10Y*
- —
PSWD.DE
- 1D
- 0.14%
- 1M
- 1.29%
- YTD
- 17.33%
- 6M
- 17.92%
- 1Y
- 34.49%
- 3Y*
- 19.55%
- 5Y*
- 13.47%
- 10Y*
- 12.50%
OPEN.DE vs. PSWD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
OPEN.DE iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) | 23.31% | 10.42% | 14.10% | 11.46% | -3.78% | 27.00% | 0.40% | 25.13% | -8.51% |
PSWD.DE Invesco FTSE RAFI All World 3000 UCITS ETF | 17.33% | 14.61% | 17.71% | 12.73% | -3.65% | 31.90% | -3.86% | 26.31% | -9.78% |
Correlation
The correlation between OPEN.DE and PSWD.DE is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2018 | 0.86 |
The correlation between OPEN.DE and PSWD.DE shifts across timeframes, from 0.77 (1 year) to 0.88 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
OPEN.DE vs. PSWD.DE — Risk / Return Rank
OPEN.DE
PSWD.DE
OPEN.DE vs. PSWD.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 Invesco FTSE RAFI All World 3000 UCITS ETF (PSWD.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| OPEN.DE | PSWD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.58 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 4.20 | 5.83 | -1.63 |
| Martin ratioReturn relative to average drawdown | 15.67 | 23.39 | -7.72 |
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Drawdowns
OPEN.DE vs. PSWD.DE - Drawdown Comparison
The maximum OPEN.DE drawdown since its inception was -33.08%, smaller than the maximum PSWD.DE drawdown of -36.38%. Use the drawdown chart below to compare losses from any high point for OPEN.DE and PSWD.DE.
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Drawdown Indicators
| OPEN.DE | PSWD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.08% | -36.38% | +3.30% |
Max Drawdown (1Y)Largest decline over 1 year | -8.20% | -5.88% | -2.32% |
Max Drawdown (3Y)Largest decline over 3 years | -19.74% | -18.19% | -1.55% |
Max Drawdown (5Y)Largest decline over 5 years | -19.74% | -18.19% | -1.55% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.38% | — |
Current DrawdownCurrent decline from peak | -1.49% | -0.74% | -0.75% |
Average DrawdownAverage peak-to-trough decline | -3.94% | -4.65% | +0.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 1.47% | +0.73% |
Volatility
OPEN.DE vs. PSWD.DE - Volatility Comparison
iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) (OPEN.DE) has a higher volatility of 4.89% compared to Invesco FTSE RAFI All World 3000 UCITS ETF (PSWD.DE) at 3.35%. This indicates that OPEN.DE's price experiences larger fluctuations and is considered to be riskier than PSWD.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 | PSWD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.89% | 3.35% | +1.54% |
Volatility (6M)Calculated over the trailing 6-month period | 10.30% | 8.34% | +1.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.42% | 10.95% | +1.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.20% | 13.23% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.56% | 15.17% | +0.39% |
OPEN.DE vs. PSWD.DE - Expense Ratio Comparison
OPEN.DE has a 0.25% expense ratio, which is lower than PSWD.DE's 0.39% expense ratio.
Dividends
OPEN.DE vs. PSWD.DE - Dividend Comparison
OPEN.DE has not paid dividends to shareholders, while PSWD.DE's dividend yield for the trailing twelve months is around 1.68%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OPEN.DE iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PSWD.DE Invesco FTSE RAFI All World 3000 UCITS ETF | 1.68% | 2.03% | 2.27% | 2.48% | 2.66% | 1.92% | 1.98% | 2.37% | 2.56% | 2.06% | 1.97% | 2.02% |
Frequently Asked Questions
OPEN.DE and PSWD.DE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, OPEN.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
OPEN.DE is cheaper with a 0.25% expense ratio, compared with 0.39% for PSWD.DE.
OPEN.DE tracks MSCI ACWI Value NR USD, while PSWD.DE tracks FTSE RAFI All-World 3000. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for OPEN.DE and 0.39% for PSWD.DE.
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