EMEH.DE vs. EN4C.DE
EMEH.DE (BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR) and EN4C.DE (L&G Multi-Strategy Enhanced Commodities UCITS ETF) are both Commodities funds - EMEH.DE tracks the BNP Paribas Energy & Metals Enhanced Roll (EUR Hedged) while EN4C.DE tracks the Barclays Backwardation Tilt Multi-Strategy Capped. Both are passively managed. Over the past 3 years, EMEH.DE returned 16.63%/yr vs 9.70%/yr for EN4C.DE. A 0.69 correlation means they provide meaningful diversification when combined. EMEH.DE charges 0.39%/yr vs 0.30%/yr for EN4C.DE.
Performance
EMEH.DE vs. EN4C.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EMEH.DE achieves a 21.33% return, which is significantly lower than EN4C.DE's 24.44% return.
EMEH.DE
- 1D
- -0.55%
- 1M
- 0.49%
- YTD
- 21.33%
- 6M
- 22.74%
- 1Y
- 43.19%
- 3Y*
- 16.63%
- 5Y*
- 11.35%
- 10Y*
- —
EN4C.DE
- 1D
- -1.57%
- 1M
- 0.45%
- YTD
- 24.44%
- 6M
- 23.08%
- 1Y
- 29.56%
- 3Y*
- 9.70%
- 5Y*
- —
- 10Y*
- —
EMEH.DE vs. EN4C.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EMEH.DE BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR | 21.33% | 25.40% | 6.63% | -12.26% | 11.15% | 2.47% |
EN4C.DE L&G Multi-Strategy Enhanced Commodities UCITS ETF | 24.44% | -3.13% | 9.93% | -5.63% | 29.83% | 10.18% |
Correlation
The correlation between EMEH.DE and EN4C.DE is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2021 | 0.69 |
The correlation between EMEH.DE and EN4C.DE has been stable across timeframes, ranging from 0.67 to 0.73 - a consistent structural relationship.
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Return for Risk
EMEH.DE vs. EN4C.DE — Risk / Return Rank
EMEH.DE
EN4C.DE
EMEH.DE vs. EN4C.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (EMEH.DE) and L&G Multi-Strategy Enhanced Commodities UCITS ETF (EN4C.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.
| EMEH.DE | EN4C.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.78 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.29 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 4.95 | 3.44 | +1.51 |
| Martin ratioReturn relative to average drawdown | 14.34 | 8.36 | +5.97 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EMEH.DE | EN4C.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.47 | 1.69 | +0.78 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.48 | 0.72 | -1.20 |
Drawdowns
EMEH.DE vs. EN4C.DE - Drawdown Comparison
The maximum EMEH.DE drawdown since its inception was -92.42%, which is greater than EN4C.DE's maximum drawdown of -25.41%. Use the drawdown chart below to compare losses from any high point for EMEH.DE and EN4C.DE.
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Drawdown Indicators
| EMEH.DE | EN4C.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.42% | -25.41% | -67.01% |
Max Drawdown (1Y)Largest decline over 1 year | -8.89% | -8.81% | -0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -12.28% | -17.63% | +5.35% |
Max Drawdown (5Y)Largest decline over 5 years | -32.73% | — | — |
Current DrawdownCurrent decline from peak | -80.34% | -4.02% | -76.32% |
Average DrawdownAverage peak-to-trough decline | -81.38% | -13.89% | -67.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.08% | 3.64% | -0.56% |
Volatility
EMEH.DE vs. EN4C.DE - Volatility Comparison
The current volatility for BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (EMEH.DE) is 4.15%, while L&G Multi-Strategy Enhanced Commodities UCITS ETF (EN4C.DE) has a volatility of 5.98%. This indicates that EMEH.DE experiences smaller price fluctuations and is considered to be less risky than EN4C.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMEH.DE | EN4C.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.15% | 5.98% | -1.83% |
Volatility (6M)Calculated over the trailing 6-month period | 15.95% | 14.54% | +1.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.83% | 17.98% | -0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.50% | 18.11% | -0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.16% | 18.11% | +16.05% |
EMEH.DE vs. EN4C.DE - Expense Ratio Comparison
EMEH.DE has a 0.39% expense ratio, which is higher than EN4C.DE's 0.30% expense ratio.
Dividends
EMEH.DE vs. EN4C.DE - Dividend Comparison
Neither EMEH.DE nor EN4C.DE has paid dividends to shareholders.
Frequently Asked Questions
EMEH.DE and EN4C.DE have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EN4C.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EN4C.DE is cheaper with a 0.30% expense ratio, compared with 0.39% for EMEH.DE.
EMEH.DE tracks BNP Paribas Energy & Metals Enhanced Roll (EUR Hedged), while EN4C.DE tracks Barclays Backwardation Tilt Multi-Strategy Capped. They also come from different issuers: BNP Paribas and Legal & General. Their fees differ too: 0.39% for EMEH.DE and 0.30% for EN4C.DE.
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