BNQV.DE vs. ESEE.DE

Last updated Jun 5, 2026

BNQV.DE (BNPP RICI Enhanced Industriemetalle (TR) ETC) and ESEE.DE (BNP Paribas Easy S&P 500 UCITS ETF EUR) are both exchange-traded funds - BNQV.DE is a Metals fund tracking the RICI Enhanced Industrial Metals, while ESEE.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, BNQV.DE returned 8.91%/yr vs 14.69%/yr for ESEE.DE. At a 0.28 correlation, their price movements are largely independent. BNQV.DE charges 1.00%/yr vs 0.15%/yr for ESEE.DE.

Performance

BNQV.DE vs. ESEE.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in BNPP RICI Enhanced Industriemetalle (TR) ETC (BNQV.DE) and BNP Paribas Easy S&P 500 UCITS ETF EUR (ESEE.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNQV.DE achieves a 13.96% return, which is significantly higher than ESEE.DE's 11.27% return.

BNQV.DE

• 1D: -0.40%
• 1M: 4.63%
• YTD: 13.96%
• 6M: 17.14%
• 1Y: 30.50%
• 3Y*: 11.33%
• 5Y*: 8.91%
• 10Y*: —

ESEE.DE

• 1D: -0.16%
• 1M: 4.36%
• YTD: 11.27%
• 6M: 10.71%
• 1Y: 25.27%
• 3Y*: 18.69%
• 5Y*: 14.69%
• 10Y*: 15.09%

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

BNQV.DE vs. ESEE.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BNQV.DE BNPP RICI Enhanced Industriemetalle (TR) ETC	13.96%	5.40%	12.60%	-6.20%	6.27%	36.61%	2.31%	4.93%	-11.45%	13.30%
ESEE.DE BNP Paribas Easy S&P 500 UCITS ETF EUR	11.27%	4.37%	32.16%	22.65%	-14.21%	40.85%	7.14%	34.97%	-0.85%	7.07%

Correlation

The correlation between BNQV.DE and ESEE.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	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (All Time) Calculated using the full available price history since Nov 16, 2016	0.28

The correlation between BNQV.DE and ESEE.DE shifts across timeframes, from 0.22 (5 years) to 0.32 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

BNQV.DE vs. ESEE.DE — Risk / Return Rank

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

BNQV.DE

BNQV.DE Risk / Return Rank: 71
BNQV.DE Sharpe Ratio Rank: 65
BNQV.DE Sortino Ratio Rank: 67
BNQV.DE Omega Ratio Rank: 66
BNQV.DE Calmar Ratio Rank: 80
BNQV.DE Martin Ratio Rank: 79

ESEE.DE

ESEE.DE Risk / Return Rank: 68
ESEE.DE Sharpe Ratio Rank: 67
ESEE.DE Sortino Ratio Rank: 65
ESEE.DE Omega Ratio Rank: 69
ESEE.DE Calmar Ratio Rank: 72
ESEE.DE Martin Ratio Rank: 69

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.

BNQV.DE vs. ESEE.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNPP RICI Enhanced Industriemetalle (TR) ETC (BNQV.DE) and BNP Paribas Easy S&P 500 UCITS ETF EUR (ESEE.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.

	BNQV.DE	ESEE.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.17	-0.04
Sortino ratio: Return per unit of downside risk	3.01	2.96	+0.05
Omega ratio: Gain probability vs. loss probability	1.39	1.40	-0.02
Calmar ratio: Return relative to maximum drawdown	4.03	3.51	+0.51
Martin ratio: Return relative to average drawdown	14.99	12.48	+2.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BNQV.DE vs. ESEE.DE - Sharpe Ratio Comparison

The current BNQV.DE Sharpe Ratio is 2.13, which is comparable to the ESEE.DE Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of BNQV.DE and ESEE.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

	BNQV.DE	ESEE.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	2.17	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.96	-0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.93	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.95	-0.52

Drawdowns

BNQV.DE vs. ESEE.DE - Drawdown Comparison

The maximum BNQV.DE drawdown since its inception was -33.62%, roughly equal to the maximum ESEE.DE drawdown of -33.58%. Use the drawdown chart below to compare losses from any high point for BNQV.DE and ESEE.DE.

Drawdown Indicators

	BNQV.DE	ESEE.DE	Difference
Max Drawdown Largest peak-to-trough decline	-33.62%	-33.58%	-0.04%
Max Drawdown (1Y) Largest decline over 1 year	-7.60%	-7.18%	-0.42%
Max Drawdown (3Y) Largest decline over 3 years	-17.34%	-23.46%	+6.12%
Max Drawdown (5Y) Largest decline over 5 years	-33.62%	-23.46%	-10.16%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.58%	—
Current Drawdown Current decline from peak	-5.83%	-0.45%	-5.38%
Average Drawdown Average peak-to-trough decline	-15.64%	-4.12%	-11.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	2.03%	+0.02%

Volatility

BNQV.DE vs. ESEE.DE - Volatility Comparison

BNPP RICI Enhanced Industriemetalle (TR) ETC (BNQV.DE) has a higher volatility of 4.28% compared to BNP Paribas Easy S&P 500 UCITS ETF EUR (ESEE.DE) at 2.65%. This indicates that BNQV.DE's price experiences larger fluctuations and is considered to be riskier than ESEE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BNQV.DE	ESEE.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.28%	2.65%	+1.63%
Volatility (6M) Calculated over the trailing 6-month period	12.25%	7.60%	+4.65%
Volatility (1Y) Calculated over the trailing 1-year period	14.37%	11.61%	+2.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.41%	15.20%	+3.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.81%	16.09%	+0.72%

BNQV.DE vs. ESEE.DE - Expense Ratio Comparison

BNQV.DE has a 1.00% expense ratio, which is higher than ESEE.DE's 0.15% expense ratio.

Dividends

BNQV.DE vs. ESEE.DE - Dividend Comparison

Neither BNQV.DE nor ESEE.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BNQV.DE and ESEE.DE in my portfolio?

BNQV.DE and ESEE.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, BNQV.DE or ESEE.DE?

On fees, ESEE.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, BNQV.DE or ESEE.DE?

ESEE.DE is cheaper with a 0.15% expense ratio, compared with 1.00% for BNQV.DE.

What is the main difference between BNQV.DE and ESEE.DE?

BNQV.DE is categorized as Metals, while ESEE.DE is S&P 500. BNQV.DE tracks RICI Enhanced Industrial Metals, while ESEE.DE tracks S&P 500 Index. Their fees differ too: 1.00% for BNQV.DE and 0.15% for ESEE.DE.