B4NB.DE vs. ETSZ.DE

Last updated Jun 5, 2026

B4NB.DE (BNPP RICI Enhanced Kupfer (TR) ETC USD) and ETSZ.DE (BNP Paribas Easy STOXX Europe 600 UCITS ETF) are both exchange-traded funds - B4NB.DE is a Metals fund tracking the RICI Enhanced Copper, while ETSZ.DE is a Europe Equities fund tracking the STOXX® Europe 600. Both are passively managed. Over the past 5 years, B4NB.DE returned 8.94%/yr vs 9.62%/yr for ETSZ.DE. At a 0.31 correlation, their price movements are largely independent. B4NB.DE charges 0.99%/yr vs 0.20%/yr for ETSZ.DE.

Performance

B4NB.DE vs. ETSZ.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in BNPP RICI Enhanced Kupfer (TR) ETC USD (B4NB.DE) and BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, B4NB.DE achieves a 12.31% return, which is significantly higher than ETSZ.DE's 7.24% return.

B4NB.DE

• 1D: 0.86%
• 1M: 5.31%
• YTD: 12.31%
• 6M: 23.35%
• 1Y: 44.74%
• 3Y*: 20.76%
• 5Y*: 8.94%
• 10Y*: —

ETSZ.DE

• 1D: 0.59%
• 1M: 3.00%
• YTD: 7.24%
• 6M: 9.76%
• 1Y: 16.19%
• 3Y*: 13.72%
• 5Y*: 9.62%
• 10Y*: 9.16%

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

B4NB.DE vs. ETSZ.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
B4NB.DE BNPP RICI Enhanced Kupfer (TR) ETC USD	12.31%	35.19%	9.85%	6.07%	-8.69%	21.42%	23.18%	4.91%	-17.09%	29.48%
ETSZ.DE BNP Paribas Easy STOXX Europe 600 UCITS ETF	7.24%	20.43%	8.21%	15.61%	-10.31%	24.89%	-1.49%	28.86%	-11.18%	1.13%

Correlation

The correlation between B4NB.DE and ETSZ.DE is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (All Time) Calculated using the full available price history since May 19, 2017	0.31

Return for Risk

B4NB.DE vs. ETSZ.DE — Risk / Return Rank

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

B4NB.DE

B4NB.DE Risk / Return Rank: 72
B4NB.DE Sharpe Ratio Rank: 70
B4NB.DE Sortino Ratio Rank: 70
B4NB.DE Omega Ratio Rank: 67
B4NB.DE Calmar Ratio Rank: 79
B4NB.DE Martin Ratio Rank: 74

ETSZ.DE

ETSZ.DE Risk / Return Rank: 37
ETSZ.DE Sharpe Ratio Rank: 36
ETSZ.DE Sortino Ratio Rank: 36
ETSZ.DE Omega Ratio Rank: 37
ETSZ.DE Calmar Ratio Rank: 35
ETSZ.DE Martin Ratio Rank: 41

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.

B4NB.DE vs. ETSZ.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNPP RICI Enhanced Kupfer (TR) ETC USD (B4NB.DE) and BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.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.

	B4NB.DE	ETSZ.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.26	1.26	+1.01
Sortino ratio: Return per unit of downside risk	3.15	1.85	+1.29
Omega ratio: Gain probability vs. loss probability	1.40	1.24	+0.16
Calmar ratio: Return relative to maximum drawdown	3.98	1.72	+2.27
Martin ratio: Return relative to average drawdown	13.73	6.45	+7.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

B4NB.DE vs. ETSZ.DE - Sharpe Ratio Comparison

The current B4NB.DE Sharpe Ratio is 2.26, which is higher than the ETSZ.DE Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of B4NB.DE and ETSZ.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.

Sharpe Ratios by Period

	B4NB.DE	ETSZ.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	1.26	+1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.66	-0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.52	+0.08

Drawdowns

B4NB.DE vs. ETSZ.DE - Drawdown Comparison

The maximum B4NB.DE drawdown since its inception was -35.46%, roughly equal to the maximum ETSZ.DE drawdown of -35.51%. Use the drawdown chart below to compare losses from any high point for B4NB.DE and ETSZ.DE.

Drawdown Indicators

	B4NB.DE	ETSZ.DE	Difference
Max Drawdown Largest peak-to-trough decline	-35.46%	-35.51%	+0.05%
Max Drawdown (1Y) Largest decline over 1 year	-11.18%	-9.39%	-1.79%
Max Drawdown (3Y) Largest decline over 3 years	-16.40%	-16.35%	-0.05%
Max Drawdown (5Y) Largest decline over 5 years	-31.07%	-20.55%	-10.52%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.51%	—
Current Drawdown Current decline from peak	-2.07%	-1.70%	-0.37%
Average Drawdown Average peak-to-trough decline	-10.79%	-5.41%	-5.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	2.51%	+0.74%

Volatility

B4NB.DE vs. ETSZ.DE - Volatility Comparison

BNPP RICI Enhanced Kupfer (TR) ETC USD (B4NB.DE) has a higher volatility of 6.28% compared to BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.DE) at 4.34%. This indicates that B4NB.DE's price experiences larger fluctuations and is considered to be riskier than ETSZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	B4NB.DE	ETSZ.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.28%	4.34%	+1.94%
Volatility (6M) Calculated over the trailing 6-month period	16.26%	10.64%	+5.62%
Volatility (1Y) Calculated over the trailing 1-year period	19.68%	12.84%	+6.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.44%	14.39%	+6.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.54%	15.54%	+4.00%

B4NB.DE vs. ETSZ.DE - Expense Ratio Comparison

B4NB.DE has a 0.99% expense ratio, which is higher than ETSZ.DE's 0.20% expense ratio.

Dividends

B4NB.DE vs. ETSZ.DE - Dividend Comparison

Neither B4NB.DE nor ETSZ.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both B4NB.DE and ETSZ.DE in my portfolio?

B4NB.DE and ETSZ.DE have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, B4NB.DE or ETSZ.DE?

On fees, ETSZ.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, B4NB.DE or ETSZ.DE?

ETSZ.DE is cheaper with a 0.20% expense ratio, compared with 0.99% for B4NB.DE.

What is the main difference between B4NB.DE and ETSZ.DE?

B4NB.DE is categorized as Metals, while ETSZ.DE is Europe Equities. B4NB.DE tracks RICI Enhanced Copper, while ETSZ.DE tracks STOXX® Europe 600. Their fees differ too: 0.99% for B4NB.DE and 0.20% for ETSZ.DE.