PJEU.DE vs. IQSA.DE
PJEU.DE (Invesco Euro Cash 3 Months UCITS ETF Acc) and IQSA.DE (Invesco Global Active ESG Equity UCITS ETF USD Acc) are both exchange-traded funds - PJEU.DE is a Money Market fund tracking the FTSE Eurozone Government Bill 0-6 Month Capped Index, while IQSA.DE is a Global Equities fund actively managed by Invesco. PJEU.DE is passively managed, while IQSA.DE is actively managed. Over the past 5 years, PJEU.DE returned 1.77%/yr vs 15.34%/yr for IQSA.DE. At a 0.03 correlation, their price movements are largely independent. PJEU.DE charges 0.09%/yr vs 0.30%/yr for IQSA.DE.
Performance
PJEU.DE vs. IQSA.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 IQSA.DE's 18.17% 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%
IQSA.DE
- 1D
- 0.41%
- 1M
- 2.82%
- 6M
- 18.46%
- YTD
- 18.17%
- 1Y
- 32.16%
- 3Y*
- 21.64%
- 5Y*
- 15.34%
- 10Y*
- —
PJEU.DE vs. IQSA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PJEU.DE Invesco Euro Cash 3 Months UCITS ETF Acc | 0.88% | 2.33% | 3.61% | 2.91% | -0.44% | -0.76% | -0.60% | -0.25% |
IQSA.DE Invesco Global Active ESG Equity UCITS ETF USD Acc | 18.17% | 9.64% | 29.92% | 20.23% | -9.31% | 35.68% | 0.13% | -2.66% |
Correlation
The correlation between PJEU.DE and IQSA.DE is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jul 30, 2019 | 0.03 |
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Return for Risk
PJEU.DE vs. IQSA.DE — Risk / Return Rank
PJEU.DE
IQSA.DE
PJEU.DE vs. IQSA.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 Invesco Global Active ESG Equity UCITS ETF USD Acc (IQSA.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 | IQSA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.51 | ||
| Sortino ratioReturn per unit of downside risk | -2.15 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.47 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.70 | 5.16 | -1.46 |
| Martin ratioReturn relative to average drawdown | 10.42 | 21.31 | -10.89 |
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Drawdowns
PJEU.DE vs. IQSA.DE - Drawdown Comparison
The maximum PJEU.DE drawdown since its inception was -4.67%, smaller than the maximum IQSA.DE drawdown of -34.12%. Use the drawdown chart below to compare losses from any high point for PJEU.DE and IQSA.DE.
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Drawdown Indicators
| PJEU.DE | IQSA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.67% | -34.12% | +29.45% |
Max Drawdown (1Y)Largest decline over 1 year | -0.54% | -6.20% | +5.66% |
Max Drawdown (3Y)Largest decline over 3 years | -0.54% | -21.35% | +20.81% |
Max Drawdown (5Y)Largest decline over 5 years | -1.04% | -21.35% | +20.31% |
Max Drawdown (10Y)Largest decline over 10 years | -4.17% | — | — |
Current DrawdownCurrent decline from peak | -0.08% | -0.65% | +0.57% |
Average DrawdownAverage peak-to-trough decline | -1.21% | -4.76% | +3.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.19% | 1.51% | -1.32% |
Volatility
PJEU.DE vs. IQSA.DE - Volatility Comparison
The current volatility for Invesco Euro Cash 3 Months UCITS ETF Acc (PJEU.DE) is 0.24%, while Invesco Global Active ESG Equity UCITS ETF USD Acc (IQSA.DE) has a volatility of 3.46%. This indicates that PJEU.DE experiences smaller price fluctuations and is considered to be less risky than IQSA.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 | IQSA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.24% | 3.46% | -3.22% |
Volatility (6M)Calculated over the trailing 6-month period | 1.43% | 9.12% | -7.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.86% | 12.47% | -10.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.88% | 14.76% | -13.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.67% | 17.21% | -16.54% |
PJEU.DE vs. IQSA.DE - Expense Ratio Comparison
PJEU.DE has a 0.09% expense ratio, which is lower than IQSA.DE's 0.30% expense ratio.
Dividends
PJEU.DE vs. IQSA.DE - Dividend Comparison
Neither PJEU.DE nor IQSA.DE has paid dividends to shareholders.
Frequently Asked Questions
PJEU.DE and IQSA.DE have a correlation of 0.04, 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 0.30% for IQSA.DE.
PJEU.DE is categorized as Money Market, while IQSA.DE is Global Equities. Their fees differ too: 0.09% for PJEU.DE and 0.30% for IQSA.DE.
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