DEAM.DE vs. ESNB.DE
DEAM.DE (Invesco MDAX UCITS ETF A) and ESNB.DE (Expat Serbia BELEX15 UCITS ETF) are both Europe Equities funds - DEAM.DE tracks the MDAX® while ESNB.DE tracks the BELEX15 Index. Both are passively managed. Over the past 5 years, DEAM.DE returned -1.95%/yr vs -1.81%/yr for ESNB.DE. At a 0.01 correlation, their price movements are largely independent. DEAM.DE charges 0.19%/yr vs 1.38%/yr for ESNB.DE.
Performance
DEAM.DE vs. ESNB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DEAM.DE achieves a 3.71% return, which is significantly higher than ESNB.DE's -6.99% return.
DEAM.DE
- 1D
- 0.06%
- 1M
- -2.40%
- 6M
- -0.55%
- YTD
- 3.71%
- 1Y
- 2.32%
- 3Y*
- 3.87%
- 5Y*
- -1.95%
- 10Y*
- —
ESNB.DE
- 1D
- 0.23%
- 1M
- -0.56%
- 6M
- -5.83%
- YTD
- -6.99%
- 1Y
- -5.51%
- 3Y*
- -1.61%
- 5Y*
- -1.81%
- 10Y*
- —
DEAM.DE vs. ESNB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
DEAM.DE Invesco MDAX UCITS ETF A | 3.71% | 19.33% | -6.04% | 7.34% | -28.80% | 13.67% | 8.06% | 20.37% |
ESNB.DE Expat Serbia BELEX15 UCITS ETF | -6.99% | 0.82% | 0.78% | 2.90% | -8.70% | 5.74% | -3.42% | 16.40% |
Correlation
The correlation between DEAM.DE and ESNB.DE is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2019 | 0.01 |
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Return for Risk
DEAM.DE vs. ESNB.DE — Risk / Return Rank
DEAM.DE
ESNB.DE
DEAM.DE vs. ESNB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MDAX UCITS ETF A (DEAM.DE) and Expat Serbia BELEX15 UCITS ETF (ESNB.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DEAM.DE | ESNB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 0.91 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.15 | -0.53 | +0.68 |
| Martin ratioReturn relative to average drawdown | 0.43 | -1.12 | +1.55 |
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Drawdowns
DEAM.DE vs. ESNB.DE - Drawdown Comparison
The maximum DEAM.DE drawdown since its inception was -40.04%, which is greater than ESNB.DE's maximum drawdown of -22.77%. Use the drawdown chart below to compare losses from any high point for DEAM.DE and ESNB.DE.
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Drawdown Indicators
| DEAM.DE | ESNB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.04% | -22.77% | -17.27% |
Max Drawdown (1Y)Largest decline over 1 year | -14.95% | -10.40% | -4.55% |
Max Drawdown (3Y)Largest decline over 3 years | -18.48% | -12.60% | -5.88% |
Max Drawdown (5Y)Largest decline over 5 years | -40.04% | -15.85% | -24.19% |
Current DrawdownCurrent decline from peak | -13.92% | -13.67% | -0.25% |
Average DrawdownAverage peak-to-trough decline | -16.18% | -8.44% | -7.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.36% | 4.91% | +0.45% |
Volatility
DEAM.DE vs. ESNB.DE - Volatility Comparison
Invesco MDAX UCITS ETF A (DEAM.DE) has a higher volatility of 4.94% compared to Expat Serbia BELEX15 UCITS ETF (ESNB.DE) at 3.05%. This indicates that DEAM.DE's price experiences larger fluctuations and is considered to be riskier than ESNB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DEAM.DE | ESNB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 3.05% | +1.89% |
Volatility (6M)Calculated over the trailing 6-month period | 15.96% | 6.22% | +9.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.83% | 9.72% | +9.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.40% | 10.52% | +8.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.56% | 12.11% | +7.45% |
DEAM.DE vs. ESNB.DE - Expense Ratio Comparison
DEAM.DE has a 0.19% expense ratio, which is lower than ESNB.DE's 1.38% expense ratio.
Dividends
DEAM.DE vs. ESNB.DE - Dividend Comparison
Neither DEAM.DE nor ESNB.DE has paid dividends to shareholders.
Frequently Asked Questions
DEAM.DE and ESNB.DE have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DEAM.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DEAM.DE is cheaper with a 0.19% expense ratio, compared with 1.38% for ESNB.DE.
DEAM.DE tracks MDAX®, while ESNB.DE tracks BELEX15 Index. They also come from different issuers: Invesco and Expat. Their fees differ too: 0.19% for DEAM.DE and 1.38% for ESNB.DE.
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