PJEU.DE vs. EGV2.DE
PJEU.DE (Invesco Euro Cash 3 Months UCITS ETF Acc) and EGV2.DE (Amundi Smart Overnight Return UCITS ETF (Dist)) are both Money Market funds - PJEU.DE tracks the FTSE Eurozone Government Bill 0-6 Month Capped Index while EGV2.DE tracks the ESTR Compounded Index. Both are passively managed. Over the past 5 years, PJEU.DE returned 1.77%/yr vs 2.20%/yr for EGV2.DE. At a 0.17 correlation, their price movements are largely independent. PJEU.DE charges 0.09%/yr vs 0.10%/yr for EGV2.DE.
Performance
PJEU.DE vs. EGV2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, PJEU.DE achieves a 0.88% return, which is significantly lower than EGV2.DE's 1.27% return.
PJEU.DE
- 1D
- -0.01%
- 1M
- 0.14%
- 6M
- 0.79%
- YTD
- 0.88%
- 1Y
- 1.99%
- 3Y*
- 2.87%
- 5Y*
- 1.77%
- 10Y*
- 0.56%
EGV2.DE
- 1D
- 0.04%
- 1M
- 0.02%
- 6M
- 1.23%
- YTD
- 1.27%
- 1Y
- 2.41%
- 3Y*
- 3.26%
- 5Y*
- 2.20%
- 10Y*
- —
PJEU.DE vs. EGV2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PJEU.DE Invesco Euro Cash 3 Months UCITS ETF Acc | 0.88% | 2.33% | 3.61% | 2.91% | -0.44% | -0.76% | -0.20% |
EGV2.DE Amundi Smart Overnight Return UCITS ETF (Dist) | 1.27% | 2.48% | 4.10% | 3.25% | 0.17% | -0.47% | -0.13% |
Correlation
The correlation between PJEU.DE and EGV2.DE is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Sep 17, 2020 | 0.17 |
The correlation between PJEU.DE and EGV2.DE shifts across timeframes, from -0.01 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PJEU.DE vs. EGV2.DE — Risk / Return Rank
PJEU.DE
EGV2.DE
PJEU.DE vs. EGV2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Euro Cash 3 Months UCITS ETF Acc (PJEU.DE) and Amundi Smart Overnight Return UCITS ETF (Dist) (EGV2.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.
| PJEU.DE | EGV2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -1.91 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.49 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 7.81 | -4.10 |
| Martin ratioReturn relative to average drawdown | 10.42 | 33.51 | -23.09 |
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Drawdowns
PJEU.DE vs. EGV2.DE - Drawdown Comparison
The maximum PJEU.DE drawdown since its inception was -4.67%, which is greater than EGV2.DE's maximum drawdown of -0.86%. Use the drawdown chart below to compare losses from any high point for PJEU.DE and EGV2.DE.
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Drawdown Indicators
| PJEU.DE | EGV2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.67% | -0.86% | -3.81% |
Max Drawdown (1Y)Largest decline over 1 year | -0.54% | -0.31% | -0.23% |
Max Drawdown (3Y)Largest decline over 3 years | -0.54% | -0.31% | -0.23% |
Max Drawdown (5Y)Largest decline over 5 years | -1.04% | -0.48% | -0.56% |
Max Drawdown (10Y)Largest decline over 10 years | -4.17% | — | — |
Current DrawdownCurrent decline from peak | -0.08% | -0.01% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -1.21% | -0.22% | -0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.19% | 0.07% | +0.12% |
Volatility
PJEU.DE vs. EGV2.DE - Volatility Comparison
The current volatility for Invesco Euro Cash 3 Months UCITS ETF Acc (PJEU.DE) is 0.24%, while Amundi Smart Overnight Return UCITS ETF (Dist) (EGV2.DE) has a volatility of 0.32%. This indicates that PJEU.DE experiences smaller price fluctuations and is considered to be less risky than EGV2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PJEU.DE | EGV2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.24% | 0.32% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 1.43% | 0.88% | +0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.86% | 1.08% | +0.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.88% | 0.72% | +0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.67% | 0.68% | -0.01% |
PJEU.DE vs. EGV2.DE - Expense Ratio Comparison
PJEU.DE has a 0.09% expense ratio, which is lower than EGV2.DE's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
PJEU.DE vs. EGV2.DE - Dividend Comparison
PJEU.DE has not paid dividends to shareholders, while EGV2.DE's dividend yield for the trailing twelve months is around 2.93%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
EGV2.DE Amundi Smart Overnight Return UCITS ETF (Dist) | 2.93% | 2.97% | 3.91% | 2.50% |
PJEU.DE Invesco Euro Cash 3 Months UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PJEU.DE and EGV2.DE have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PJEU.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PJEU.DE is cheaper with a 0.09% expense ratio, compared with 0.10% for EGV2.DE.
PJEU.DE tracks FTSE Eurozone Government Bill 0-6 Month Capped Index, while EGV2.DE tracks ESTR Compounded Index. They also come from different issuers: Invesco and Amundi. Their fees differ too: 0.09% for PJEU.DE and 0.10% for EGV2.DE.
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