540J.DE vs. ESNB.DE
540J.DE (Amundi MSCI Switzerland UCITS ETF EUR) and ESNB.DE (Expat Serbia BELEX15 UCITS ETF) are both Europe Equities funds - 540J.DE tracks the MSCI Switzerland while ESNB.DE tracks the BELEX15 Index. Both are passively managed. Over the past 5 years, 540J.DE returned 8.05%/yr vs -1.81%/yr for ESNB.DE. At a 0.00 correlation, their price movements are largely independent. 540J.DE charges 0.25%/yr vs 1.38%/yr for ESNB.DE.
Performance
540J.DE vs. ESNB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 540J.DE achieves a 10.74% return, which is significantly higher than ESNB.DE's -6.99% return.
540J.DE
- 1D
- 1.56%
- 1M
- 4.29%
- 6M
- 9.39%
- YTD
- 10.74%
- 1Y
- 22.37%
- 3Y*
- 11.85%
- 5Y*
- 8.05%
- 10Y*
- 9.28%
ESNB.DE
- 1D
- 0.23%
- 1M
- -0.56%
- 6M
- -5.83%
- YTD
- -6.99%
- 1Y
- -5.51%
- 3Y*
- -1.61%
- 5Y*
- -1.81%
- 10Y*
- —
540J.DE vs. ESNB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
540J.DE Amundi MSCI Switzerland UCITS ETF EUR | 10.74% | 18.39% | 3.70% | 10.71% | -12.90% | 29.35% | 1.20% | 35.11% | 1.98% |
ESNB.DE Expat Serbia BELEX15 UCITS ETF | -6.99% | 0.82% | 0.78% | 2.90% | -8.70% | 5.74% | -3.42% | 5.43% | -7.45% |
Correlation
The correlation between 540J.DE and ESNB.DE is 0.03, 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 | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2018 | 0.00 |
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Return for Risk
540J.DE vs. ESNB.DE — Risk / Return Rank
540J.DE
ESNB.DE
540J.DE vs. ESNB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Switzerland UCITS ETF EUR (540J.DE) and Expat Serbia BELEX15 UCITS ETF (ESNB.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.
| 540J.DE | ESNB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.15 | ||
| Sortino ratioReturn per unit of downside risk | +3.11 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.91 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | -0.53 | +2.39 |
| Martin ratioReturn relative to average drawdown | 6.55 | -1.12 | +7.67 |
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Drawdowns
540J.DE vs. ESNB.DE - Drawdown Comparison
The maximum 540J.DE drawdown since its inception was -26.00%, which is greater than ESNB.DE's maximum drawdown of -22.77%. Use the drawdown chart below to compare losses from any high point for 540J.DE and ESNB.DE.
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Drawdown Indicators
| 540J.DE | ESNB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.00% | -22.77% | -3.23% |
Max Drawdown (1Y)Largest decline over 1 year | -11.98% | -10.40% | -1.58% |
Max Drawdown (3Y)Largest decline over 3 years | -15.78% | -12.60% | -3.18% |
Max Drawdown (5Y)Largest decline over 5 years | -17.64% | -15.85% | -1.79% |
Max Drawdown (10Y)Largest decline over 10 years | -26.00% | — | — |
Current DrawdownCurrent decline from peak | -1.31% | -13.67% | +12.36% |
Average DrawdownAverage peak-to-trough decline | -5.63% | -8.44% | +2.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.41% | 4.91% | -1.50% |
Volatility
540J.DE vs. ESNB.DE - Volatility Comparison
Amundi MSCI Switzerland UCITS ETF EUR (540J.DE) has a higher volatility of 4.60% compared to Expat Serbia BELEX15 UCITS ETF (ESNB.DE) at 3.05%. This indicates that 540J.DE's price experiences larger fluctuations and is considered to be riskier than ESNB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 540J.DE | ESNB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 3.05% | +1.55% |
Volatility (6M)Calculated over the trailing 6-month period | 11.34% | 6.22% | +5.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.08% | 9.72% | +4.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.73% | 10.52% | +3.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.05% | 12.11% | +1.94% |
540J.DE vs. ESNB.DE - Expense Ratio Comparison
540J.DE has a 0.25% expense ratio, which is lower than ESNB.DE's 1.38% expense ratio.
Dividends
540J.DE vs. ESNB.DE - Dividend Comparison
Neither 540J.DE nor ESNB.DE has paid dividends to shareholders.
Frequently Asked Questions
540J.DE and ESNB.DE have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 540J.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
540J.DE is cheaper with a 0.25% expense ratio, compared with 1.38% for ESNB.DE.
540J.DE tracks MSCI Switzerland, while ESNB.DE tracks BELEX15 Index. They also come from different issuers: Amundi and Expat. Their fees differ too: 0.25% for 540J.DE and 1.38% for ESNB.DE.
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