BNQL.DE vs. ESEA.DE

Last updated Jun 5, 2026

BNQL.DE (BNP Paribas Palladium ETC) and ESEA.DE (BNP Paribas Easy S&P 500 UCITS ETF) are both exchange-traded funds - BNQL.DE is a Precious Metals fund tracking the Palladium Spot Price, while ESEA.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, BNQL.DE returned -14.19%/yr vs 14.54%/yr for ESEA.DE. At a 0.20 correlation, their price movements are largely independent. BNQL.DE charges 0.99%/yr vs 0.15%/yr for ESEA.DE.

Performance

BNQL.DE vs. ESEA.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in BNP Paribas Palladium ETC (BNQL.DE) and BNP Paribas Easy S&P 500 UCITS ETF (ESEA.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

BNQL.DE is traded in EUR, while ESEA.DE is traded in USD. To make them comparable, the ESEA.DE values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, BNQL.DE achieves a -17.76% return, which is significantly lower than ESEA.DE's 11.31% return.

BNQL.DE

• 1D: -1.06%
• 1M: -11.56%
• YTD: -17.76%
• 6M: -8.41%
• 1Y: 29.07%
• 3Y*: -5.67%
• 5Y*: -14.19%
• 10Y*: —

ESEA.DE

• 1D: -0.11%
• 1M: 5.20%
• YTD: 11.31%
• 6M: 11.29%
• 1Y: 25.47%
• 3Y*: 18.80%
• 5Y*: 14.54%
• 10Y*: —

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

BNQL.DE vs. ESEA.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BNQL.DE BNP Paribas Palladium ETC	-17.76%	58.42%	-16.10%	-40.26%	-4.34%	-10.11%	10.43%	31.81%
ESEA.DE BNP Paribas Easy S&P 500 UCITS ETF	11.31%	4.18%	32.44%	22.22%	-14.52%	41.11%	7.15%	11.44%

Correlation

The correlation between BNQL.DE and ESEA.DE is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (All Time) Calculated using the full available price history since Aug 14, 2019	0.20

Return for Risk

BNQL.DE vs. ESEA.DE — Risk / Return Rank

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

BNQL.DE

BNQL.DE Risk / Return Rank: 20
BNQL.DE Sharpe Ratio Rank: 19
BNQL.DE Sortino Ratio Rank: 22
BNQL.DE Omega Ratio Rank: 22
BNQL.DE Calmar Ratio Rank: 19
BNQL.DE Martin Ratio Rank: 17

ESEA.DE

ESEA.DE Risk / Return Rank: 74
ESEA.DE Sharpe Ratio Rank: 73
ESEA.DE Sortino Ratio Rank: 78
ESEA.DE Omega Ratio Rank: 72
ESEA.DE Calmar Ratio Rank: 68
ESEA.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.

BNQL.DE vs. ESEA.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Palladium ETC (BNQL.DE) and BNP Paribas Easy S&P 500 UCITS ETF (ESEA.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.

	BNQL.DE	ESEA.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.63	2.04	-1.40
Sortino ratio: Return per unit of downside risk	1.14	2.82	-1.68
Omega ratio: Gain probability vs. loss probability	1.14	1.38	-0.23
Calmar ratio: Return relative to maximum drawdown	0.78	3.53	-2.75
Martin ratio: Return relative to average drawdown	1.68	12.07	-10.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BNQL.DE vs. ESEA.DE - Sharpe Ratio Comparison

The current BNQL.DE Sharpe Ratio is 0.63, which is lower than the ESEA.DE Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of BNQL.DE and ESEA.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

	BNQL.DE	ESEA.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.63	2.04	-1.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.31	0.90	-1.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.88	-0.77

Drawdowns

BNQL.DE vs. ESEA.DE - Drawdown Comparison

The maximum BNQL.DE drawdown since its inception was -73.80%, which is greater than ESEA.DE's maximum drawdown of -33.64%. Use the drawdown chart below to compare losses from any high point for BNQL.DE and ESEA.DE.

Drawdown Indicators

	BNQL.DE	ESEA.DE	Difference
Max Drawdown Largest peak-to-trough decline	-73.80%	-33.64%	-40.16%
Max Drawdown (1Y) Largest decline over 1 year	-37.28%	-7.19%	-30.09%
Max Drawdown (3Y) Largest decline over 3 years	-43.58%	-22.79%	-20.79%
Max Drawdown (5Y) Largest decline over 5 years	-73.80%	-22.79%	-51.01%
Current Drawdown Current decline from peak	-61.09%	-0.41%	-60.68%
Average Drawdown Average peak-to-trough decline	-32.15%	-4.87%	-27.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.30%	2.10%	+15.20%

Volatility

BNQL.DE vs. ESEA.DE - Volatility Comparison

BNP Paribas Palladium ETC (BNQL.DE) has a higher volatility of 10.31% compared to BNP Paribas Easy S&P 500 UCITS ETF (ESEA.DE) at 3.03%. This indicates that BNQL.DE's price experiences larger fluctuations and is considered to be riskier than ESEA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNQL.DE	ESEA.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.31%	3.03%	+7.28%
Volatility (6M) Calculated over the trailing 6-month period	37.75%	8.65%	+29.10%
Volatility (1Y) Calculated over the trailing 1-year period	45.71%	12.45%	+33.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.30%	15.91%	+29.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.77%	17.81%	+22.96%

BNQL.DE vs. ESEA.DE - Expense Ratio Comparison

BNQL.DE has a 0.99% expense ratio, which is higher than ESEA.DE's 0.15% expense ratio.

Dividends

BNQL.DE vs. ESEA.DE - Dividend Comparison

BNQL.DE has not paid dividends to shareholders, while ESEA.DE's dividend yield for the trailing twelve months is around 1.06%.

Position	TTM	2025	2024	2023	2022	2021	2020
BNQL.DE BNP Paribas Palladium ETC	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ESEA.DE BNP Paribas Easy S&P 500 UCITS ETF	1.06%	0.76%	0.65%	0.00%	1.08%	0.64%	0.67%

Frequently Asked Questions

Can I hold both BNQL.DE and ESEA.DE in my portfolio?

BNQL.DE and ESEA.DE have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BNQL.DE or ESEA.DE?

On fees, ESEA.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, BNQL.DE or ESEA.DE?

ESEA.DE is cheaper with a 0.15% expense ratio, compared with 0.99% for BNQL.DE.

What is the main difference between BNQL.DE and ESEA.DE?

BNQL.DE is categorized as Precious Metals, while ESEA.DE is S&P 500. BNQL.DE tracks Palladium Spot Price, while ESEA.DE tracks S&P 500 Index. Their fees differ too: 0.99% for BNQL.DE and 0.15% for ESEA.DE.