BJLC.DE vs. ESAP.DE

Last updated Jun 5, 2026

BJLC.DE (BNP Paribas Easy ECPI Circular Economy Leaders UCITS ETF USD) and ESAP.DE (BNP Paribas Easy S&P 500 UCITS ETF USD) are both exchange-traded funds - BJLC.DE is a Global Equities fund tracking the ECPI Circular Economy Leaders Equity, while ESAP.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 3 years, BJLC.DE returned 14.35%/yr vs 21.99%/yr for ESAP.DE. Their correlation of 0.81 suggests significant overlap in exposure. BJLC.DE charges 0.30%/yr vs 0.15%/yr for ESAP.DE.

Performance

BJLC.DE vs. ESAP.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNP Paribas Easy ECPI Circular Economy Leaders UCITS ETF USD (BJLC.DE) and BNP Paribas Easy S&P 500 UCITS ETF USD (ESAP.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with BJLC.DE having a 9.66% return and ESAP.DE slightly higher at 10.03%.

BJLC.DE

• 1D: -0.04%
• 1M: 4.48%
• YTD: 9.66%
• 6M: 10.24%
• 1Y: 23.30%
• 3Y*: 14.35%
• 5Y*: —
• 10Y*: —

ESAP.DE

• 1D: 0.01%
• 1M: 4.49%
• YTD: 10.03%
• 6M: 10.96%
• 1Y: 27.63%
• 3Y*: 21.99%
• 5Y*: 13.64%
• 10Y*: —

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

BJLC.DE vs. ESAP.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BJLC.DE BNP Paribas Easy ECPI Circular Economy Leaders UCITS ETF USD	9.66%	19.04%	4.93%	15.05%
ESAP.DE BNP Paribas Easy S&P 500 UCITS ETF USD	10.03%	17.48%	24.85%	19.20%

Correlation

The correlation between BJLC.DE and ESAP.DE is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (All Time) Calculated using the full available price history since Feb 21, 2023	0.81

The correlation between BJLC.DE and ESAP.DE has been stable across timeframes, ranging from 0.77 to 0.81 - a consistent structural relationship.

Return for Risk

BJLC.DE vs. ESAP.DE — Risk / Return Rank

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

BJLC.DE

BJLC.DE Risk / Return Rank: 50
BJLC.DE Sharpe Ratio Rank: 52
BJLC.DE Sortino Ratio Rank: 55
BJLC.DE Omega Ratio Rank: 50
BJLC.DE Calmar Ratio Rank: 47
BJLC.DE Martin Ratio Rank: 48

ESAP.DE

ESAP.DE Risk / Return Rank: 73
ESAP.DE Sharpe Ratio Rank: 73
ESAP.DE Sortino Ratio Rank: 77
ESAP.DE Omega Ratio Rank: 72
ESAP.DE Calmar Ratio Rank: 68
ESAP.DE Martin Ratio Rank: 76

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.

BJLC.DE vs. ESAP.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy ECPI Circular Economy Leaders UCITS ETF USD (BJLC.DE) and BNP Paribas Easy S&P 500 UCITS ETF USD (ESAP.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.

	BJLC.DE	ESAP.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.75	2.34	-0.59
Sortino ratio: Return per unit of downside risk	2.59	3.41	-0.82
Omega ratio: Gain probability vs. loss probability	1.31	1.42	-0.12
Calmar ratio: Return relative to maximum drawdown	2.28	3.35	-1.08
Martin ratio: Return relative to average drawdown	7.88	14.32	-6.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BJLC.DE vs. ESAP.DE - Sharpe Ratio Comparison

The current BJLC.DE Sharpe Ratio is 1.75, which is comparable to the ESAP.DE Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of BJLC.DE and ESAP.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

	BJLC.DE	ESAP.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.75	2.34	-0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	0.88	+0.17

Drawdowns

BJLC.DE vs. ESAP.DE - Drawdown Comparison

The maximum BJLC.DE drawdown since its inception was -17.90%, smaller than the maximum ESAP.DE drawdown of -34.23%. Use the drawdown chart below to compare losses from any high point for BJLC.DE and ESAP.DE.

Drawdown Indicators

	BJLC.DE	ESAP.DE	Difference
Max Drawdown Largest peak-to-trough decline	-17.90%	-34.23%	+16.33%
Max Drawdown (1Y) Largest decline over 1 year	-10.23%	-8.20%	-2.03%
Max Drawdown (3Y) Largest decline over 3 years	-17.90%	-18.69%	+0.79%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.33%	—
Current Drawdown Current decline from peak	-0.04%	-0.56%	+0.52%
Average Drawdown Average peak-to-trough decline	-3.08%	-5.37%	+2.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.96%	1.93%	+1.03%

Volatility

BJLC.DE vs. ESAP.DE - Volatility Comparison

BNP Paribas Easy ECPI Circular Economy Leaders UCITS ETF USD (BJLC.DE) has a higher volatility of 3.93% compared to BNP Paribas Easy S&P 500 UCITS ETF USD (ESAP.DE) at 3.09%. This indicates that BJLC.DE's price experiences larger fluctuations and is considered to be riskier than ESAP.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BJLC.DE	ESAP.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.93%	3.09%	+0.84%
Volatility (6M) Calculated over the trailing 6-month period	10.28%	8.58%	+1.70%
Volatility (1Y) Calculated over the trailing 1-year period	13.33%	11.76%	+1.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.03%	16.01%	-1.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.03%	17.99%	-3.96%

BJLC.DE vs. ESAP.DE - Expense Ratio Comparison

BJLC.DE has a 0.30% expense ratio, which is higher than ESAP.DE's 0.15% expense ratio.

Dividends

BJLC.DE vs. ESAP.DE - Dividend Comparison

Neither BJLC.DE nor ESAP.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BJLC.DE and ESAP.DE in my portfolio?

BJLC.DE and ESAP.DE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BJLC.DE or ESAP.DE?

On fees, ESAP.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BJLC.DE or ESAP.DE?

ESAP.DE is cheaper with a 0.15% expense ratio, compared with 0.30% for BJLC.DE.

What is the main difference between BJLC.DE and ESAP.DE?

BJLC.DE is categorized as Global Equities, while ESAP.DE is S&P 500. BJLC.DE tracks ECPI Circular Economy Leaders Equity, while ESAP.DE tracks S&P 500 Index. Their fees differ too: 0.30% for BJLC.DE and 0.15% for ESAP.DE.