AW1Z.DE vs. XESD.DE

Last updated Jul 18, 2026

AW1Z.DE (UBS ETF (IE) MSCI EMU Climate Paris Aligned UCITS ETF (EUR) Acc) and XESD.DE (Xtrackers Spanish Equity UCITS ETF) are both Europe Equities funds - AW1Z.DE tracks the MSCI EMU Climate Paris Aligned while XESD.DE tracks the Solactive Spain 40. Both are passively managed. Over the past 5 years, AW1Z.DE returned 7.97%/yr vs 21.64%/yr for XESD.DE. A 0.76 correlation means they provide meaningful diversification when combined. AW1Z.DE charges 0.14%/yr vs 0.30%/yr for XESD.DE.

Performance

AW1Z.DE vs. XESD.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in UBS ETF (IE) MSCI EMU Climate Paris Aligned UCITS ETF (EUR) Acc (AW1Z.DE) and Xtrackers Spanish Equity UCITS ETF (XESD.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AW1Z.DE achieves a 9.37% return, which is significantly lower than XESD.DE's 14.19% return.

AW1Z.DE

• 1D: 0.00%
• 1M: -1.84%
• 6M: 5.98%
• YTD: 9.37%
• 1Y: 14.54%
• 3Y*: 11.80%
• 5Y*: 7.97%
• 10Y*: —

XESD.DE

• 1D: -0.55%
• 1M: 0.49%
• 6M: 11.25%
• YTD: 14.19%
• 1Y: 44.13%
• 3Y*: 30.71%
• 5Y*: 21.64%
• 10Y*: 12.70%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AW1Z.DE vs. XESD.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AW1Z.DE UBS ETF (IE) MSCI EMU Climate Paris Aligned UCITS ETF (EUR) Acc	9.37%	16.28%	6.31%	17.64%	-13.87%	18.74%
XESD.DE Xtrackers Spanish Equity UCITS ETF	14.19%	58.72%	14.57%	26.76%	-1.63%	6.69%

Correlation

The correlation between AW1Z.DE and XESD.DE is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since Mar 9, 2021	0.76

The correlation between AW1Z.DE and XESD.DE has been stable across timeframes, ranging from 0.73 to 0.76 - a consistent structural relationship.

Return for Risk

AW1Z.DE vs. XESD.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AW1Z.DE

AW1Z.DE Risk / Return Rank: 35
AW1Z.DE Sharpe Ratio Rank: 33
AW1Z.DE Sortino Ratio Rank: 35
AW1Z.DE Omega Ratio Rank: 34
AW1Z.DE Calmar Ratio Rank: 34
AW1Z.DE Martin Ratio Rank: 39

XESD.DE

XESD.DE Risk / Return Rank: 91
XESD.DE Sharpe Ratio Rank: 93
XESD.DE Sortino Ratio Rank: 91
XESD.DE Omega Ratio Rank: 91
XESD.DE Calmar Ratio Rank: 90
XESD.DE Martin Ratio Rank: 89

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AW1Z.DE vs. XESD.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) MSCI EMU Climate Paris Aligned UCITS ETF (EUR) Acc (AW1Z.DE) and Xtrackers Spanish Equity UCITS ETF (XESD.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.

	AW1Z.DE	XESD.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.95	2.56	-1.62
Sortino ratio: Return per unit of downside risk	1.47	3.43	-1.96
Omega ratio: Gain probability vs. loss probability	1.18	1.46	-0.28
Calmar ratio: Return relative to maximum drawdown	1.33	4.27	-2.94
Martin ratio: Return relative to average drawdown	4.77	15.02	-10.25

AW1Z.DE vs. XESD.DE - Sharpe Ratio Comparison

The current AW1Z.DE Sharpe Ratio is 0.95, which is lower than the XESD.DE Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of AW1Z.DE and XESD.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AW1Z.DE vs. XESD.DE - Drawdown Comparison

The maximum AW1Z.DE drawdown since its inception was -24.70%, smaller than the maximum XESD.DE drawdown of -38.76%. Use the drawdown chart below to compare losses from any high point for AW1Z.DE and XESD.DE.

Drawdown Indicators

	AW1Z.DE	XESD.DE	Difference
Max Drawdown Largest peak-to-trough decline	-24.70%	-38.76%	+14.06%
Max Drawdown (1Y) Largest decline over 1 year	-10.78%	-10.28%	-0.50%
Max Drawdown (3Y) Largest decline over 3 years	-15.02%	-12.49%	-2.53%
Max Drawdown (5Y) Largest decline over 5 years	-24.70%	-18.55%	-6.15%
Max Drawdown (10Y) Largest decline over 10 years	—	-38.76%	—
Current Drawdown Current decline from peak	-2.16%	-2.69%	+0.53%
Average Drawdown Average peak-to-trough decline	-5.06%	-8.43%	+3.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	2.92%	+0.08%

Volatility

AW1Z.DE vs. XESD.DE - Volatility Comparison

The current volatility for UBS ETF (IE) MSCI EMU Climate Paris Aligned UCITS ETF (EUR) Acc (AW1Z.DE) is 3.86%, while Xtrackers Spanish Equity UCITS ETF (XESD.DE) has a volatility of 4.12%. This indicates that AW1Z.DE experiences smaller price fluctuations and is considered to be less risky than XESD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AW1Z.DE	XESD.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.86%	4.12%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	12.82%	14.78%	-1.96%
Volatility (1Y) Calculated over the trailing 1-year period	15.17%	17.11%	-1.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.32%	16.73%	-0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.05%	18.41%	-2.36%

AW1Z.DE vs. XESD.DE - Expense Ratio Comparison

AW1Z.DE has a 0.14% expense ratio, which is lower than XESD.DE's 0.30% expense ratio.

Dividends

AW1Z.DE vs. XESD.DE - Dividend Comparison

AW1Z.DE has not paid dividends to shareholders, while XESD.DE's dividend yield for the trailing twelve months is around 2.35%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AW1Z.DE UBS ETF (IE) MSCI EMU Climate Paris Aligned UCITS ETF (EUR) 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%
XESD.DE Xtrackers Spanish Equity UCITS ETF	2.35%	2.43%	3.14%	2.56%	3.98%	1.51%	4.30%	3.35%	4.48%	2.51%	1.14%	0.42%

Frequently Asked Questions

Can I hold both AW1Z.DE and XESD.DE in my portfolio?

AW1Z.DE and XESD.DE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AW1Z.DE or XESD.DE?

On fees, AW1Z.DE is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AW1Z.DE or XESD.DE?

AW1Z.DE is cheaper with a 0.14% expense ratio, compared with 0.30% for XESD.DE.

What is the main difference between AW1Z.DE and XESD.DE?

AW1Z.DE tracks MSCI EMU Climate Paris Aligned, while XESD.DE tracks Solactive Spain 40. They also come from different issuers: UBS and Xtrackers. Their fees differ too: 0.14% for AW1Z.DE and 0.30% for XESD.DE.