OPEN.DE vs. UETW.DE
OPEN.DE (iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc)) and UETW.DE (UBS ETF (IE) MSCI World UCITS ETF (USD) Acc) are both Global Equities funds - OPEN.DE tracks the MSCI ACWI Value NR USD while UETW.DE tracks the MSCI World. Both are passively managed. Over the past 5 years, OPEN.DE returned 11.65%/yr vs 12.87%/yr for UETW.DE. Their correlation of 0.86 suggests significant overlap in exposure. OPEN.DE charges 0.25%/yr vs 0.10%/yr for UETW.DE.
Performance
OPEN.DE vs. UETW.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 UETW.DE's 10.95% 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*
- —
UETW.DE
- 1D
- -0.01%
- 1M
- 4.88%
- YTD
- 10.95%
- 6M
- 11.42%
- 1Y
- 23.88%
- 3Y*
- 17.68%
- 5Y*
- 12.87%
- 10Y*
- —
OPEN.DE vs. UETW.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
OPEN.DE iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) | 19.86% | 10.46% | 14.15% | 11.37% | -3.82% | 27.16% | 0.34% | 11.53% |
UETW.DE UBS ETF (IE) MSCI World UCITS ETF (USD) Acc | 10.95% | 8.06% | 26.50% | 19.68% | -13.72% | 32.17% | 5.50% | 12.54% |
Correlation
The correlation between OPEN.DE and UETW.DE is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2019 | 0.86 |
The correlation between OPEN.DE and UETW.DE shifts across timeframes, from 0.74 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
OPEN.DE vs. UETW.DE — Risk / Return Rank
OPEN.DE
UETW.DE
OPEN.DE vs. UETW.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 UBS ETF (IE) MSCI World UCITS ETF (USD) Acc (UETW.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 | UETW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.40 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.51 | 3.67 | -0.17 |
| Martin ratioReturn relative to average drawdown | 12.97 | 14.61 | -1.64 |
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 | UETW.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.40 | 2.17 | +0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.88 | 0.91 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.85 | -0.08 |
Drawdowns
OPEN.DE vs. UETW.DE - Drawdown Comparison
The maximum OPEN.DE drawdown since its inception was -33.09%, roughly equal to the maximum UETW.DE drawdown of -33.72%. Use the drawdown chart below to compare losses from any high point for OPEN.DE and UETW.DE.
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Drawdown Indicators
| OPEN.DE | UETW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.09% | -33.72% | +0.63% |
Max Drawdown (1Y)Largest decline over 1 year | -8.16% | -6.47% | -1.69% |
Max Drawdown (3Y)Largest decline over 3 years | -19.68% | -21.30% | +1.62% |
Max Drawdown (5Y)Largest decline over 5 years | -19.68% | -21.30% | +1.62% |
Current DrawdownCurrent decline from peak | -2.06% | -0.30% | -1.76% |
Average DrawdownAverage peak-to-trough decline | -3.97% | -4.63% | +0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 1.63% | +0.58% |
Volatility
OPEN.DE vs. UETW.DE - Volatility Comparison
iShares Refinitiv Inclusion and Diversity UCITS ETF USD (Acc) (OPEN.DE) has a higher volatility of 4.89% compared to UBS ETF (IE) MSCI World UCITS ETF (USD) Acc (UETW.DE) at 2.60%. This indicates that OPEN.DE's price experiences larger fluctuations and is considered to be riskier than UETW.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 | UETW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.89% | 2.60% | +2.29% |
Volatility (6M)Calculated over the trailing 6-month period | 9.68% | 7.63% | +2.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.93% | 10.97% | +0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.04% | 14.03% | -0.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.46% | 16.11% | -0.65% |
OPEN.DE vs. UETW.DE - Expense Ratio Comparison
OPEN.DE has a 0.25% expense ratio, which is higher than UETW.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. UETW.DE - Dividend Comparison
Neither OPEN.DE nor UETW.DE has paid dividends to shareholders.
Frequently Asked Questions
OPEN.DE and UETW.DE have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UETW.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UETW.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 UETW.DE tracks MSCI World. They also come from different issuers: iShares and UBS. Their fees differ too: 0.25% for OPEN.DE and 0.10% for UETW.DE.
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