CW8U.L vs. ESE.PA

Last updated Jun 5, 2026

CW8U.L (Amundi MSCI World UCITS USD) and ESE.PA (BNP Paribas Easy S&P 500 UCITS ETF) are both exchange-traded funds - CW8U.L is a Global Equities fund tracking the MSCI ACWI NR USD, while ESE.PA is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, CW8U.L returned 12.85%/yr vs 15.36%/yr for ESE.PA. A 0.77 correlation means they provide meaningful diversification when combined. CW8U.L charges 0.28%/yr vs 0.15%/yr for ESE.PA.

Performance

CW8U.L vs. ESE.PA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amundi MSCI World UCITS USD (CW8U.L) and BNP Paribas Easy S&P 500 UCITS ETF (ESE.PA). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CW8U.L is traded in USD, while ESE.PA is traded in EUR. To make them comparable, the ESE.PA values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with CW8U.L having a 9.80% return and ESE.PA slightly higher at 10.21%. Over the past 10 years, CW8U.L has underperformed ESE.PA with an annualized return of 12.85%, while ESE.PA has yielded a comparatively higher 15.36% annualized return.

CW8U.L

• 1D: 0.08%
• 1M: 4.18%
• YTD: 9.80%
• 6M: 10.88%
• 1Y: 25.61%
• 3Y*: 20.52%
• 5Y*: 11.60%
• 10Y*: 12.85%

ESE.PA

• 1D: 0.02%
• 1M: 4.52%
• YTD: 10.21%
• 6M: 10.99%
• 1Y: 27.56%
• 3Y*: 21.94%
• 5Y*: 13.63%
• 10Y*: 15.36%

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

CW8U.L vs. ESE.PA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CW8U.L Amundi MSCI World UCITS USD	9.80%	20.32%	19.03%	24.06%	-18.23%	22.09%	15.78%	28.00%	-9.95%	22.67%
ESE.PA BNP Paribas Easy S&P 500 UCITS ETF	10.21%	17.49%	25.41%	26.22%	-19.27%	30.84%	17.63%	30.80%	-4.71%	22.21%

Correlation

The correlation between CW8U.L and ESE.PA is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since May 10, 2011	0.77

The correlation between CW8U.L and ESE.PA shifts across timeframes, from 0.77 (all time) to 0.89 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

CW8U.L vs. ESE.PA — Risk / Return Rank

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

CW8U.L

CW8U.L Risk / Return Rank: 68
CW8U.L Sharpe Ratio Rank: 66
CW8U.L Sortino Ratio Rank: 73
CW8U.L Omega Ratio Rank: 67
CW8U.L Calmar Ratio Rank: 61
CW8U.L Martin Ratio Rank: 70

ESE.PA

ESE.PA Risk / Return Rank: 69
ESE.PA Sharpe Ratio Rank: 68
ESE.PA Sortino Ratio Rank: 67
ESE.PA Omega Ratio Rank: 71
ESE.PA Calmar Ratio Rank: 72
ESE.PA 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.

CW8U.L vs. ESE.PA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI World UCITS USD (CW8U.L) and BNP Paribas Easy S&P 500 UCITS ETF (ESE.PA). 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.

	CW8U.L	ESE.PA	Difference
Sharpe ratio: Return per unit of total volatility	2.16	2.39	-0.23
Sortino ratio: Return per unit of downside risk	3.23	3.43	-0.20
Omega ratio: Gain probability vs. loss probability	1.40	1.42	-0.03
Calmar ratio: Return relative to maximum drawdown	3.01	3.16	-0.16
Martin ratio: Return relative to average drawdown	12.87	13.43	-0.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CW8U.L vs. ESE.PA - Sharpe Ratio Comparison

The current CW8U.L Sharpe Ratio is 2.16, which is comparable to the ESE.PA Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of CW8U.L and ESE.PA, 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

	CW8U.L	ESE.PA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	2.39	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.85	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.93	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.69	+0.05

Drawdowns

CW8U.L vs. ESE.PA - Drawdown Comparison

The maximum CW8U.L drawdown since its inception was -34.10%, smaller than the maximum ESE.PA drawdown of -44.47%. Use the drawdown chart below to compare losses from any high point for CW8U.L and ESE.PA.

Drawdown Indicators

	CW8U.L	ESE.PA	Difference
Max Drawdown Largest peak-to-trough decline	-34.10%	-44.47%	+10.37%
Max Drawdown (1Y) Largest decline over 1 year	-8.48%	-8.60%	+0.12%
Max Drawdown (3Y) Largest decline over 3 years	-17.26%	-19.44%	+2.18%
Max Drawdown (5Y) Largest decline over 5 years	-25.79%	-24.38%	-1.41%
Max Drawdown (10Y) Largest decline over 10 years	-34.10%	-34.09%	-0.01%
Current Drawdown Current decline from peak	-0.41%	-0.57%	+0.16%
Average Drawdown Average peak-to-trough decline	-4.49%	-5.08%	+0.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	2.04%	-0.06%

Volatility

CW8U.L vs. ESE.PA - Volatility Comparison

Amundi MSCI World UCITS USD (CW8U.L) has a higher volatility of 3.27% compared to BNP Paribas Easy S&P 500 UCITS ETF (ESE.PA) at 2.82%. This indicates that CW8U.L's price experiences larger fluctuations and is considered to be riskier than ESE.PA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CW8U.L	ESE.PA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.27%	2.82%	+0.45%
Volatility (6M) Calculated over the trailing 6-month period	9.09%	8.04%	+1.05%
Volatility (1Y) Calculated over the trailing 1-year period	11.80%	11.39%	+0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.58%	15.83%	-0.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.84%	16.31%	-0.47%

CW8U.L vs. ESE.PA - Expense Ratio Comparison

CW8U.L has a 0.28% expense ratio, which is higher than ESE.PA's 0.15% expense ratio.

Dividends

CW8U.L vs. ESE.PA - Dividend Comparison

Neither CW8U.L nor ESE.PA has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both CW8U.L and ESE.PA in my portfolio?

CW8U.L and ESE.PA have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CW8U.L or ESE.PA?

On fees, ESE.PA 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, CW8U.L or ESE.PA?

ESE.PA is cheaper with a 0.15% expense ratio, compared with 0.28% for CW8U.L.

What is the main difference between CW8U.L and ESE.PA?

CW8U.L is categorized as Global Equities, while ESE.PA is S&P 500. CW8U.L tracks MSCI ACWI NR USD, while ESE.PA tracks S&P 500 Index. They also come from different issuers: Amundi and BNP Paribas. Their fees differ too: 0.28% for CW8U.L and 0.15% for ESE.PA.