EMEH.DE vs. ESAP.DE
EMEH.DE (BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR) and ESAP.DE (BNP Paribas Easy S&P 500 UCITS ETF USD) are both exchange-traded funds - EMEH.DE is a Commodities fund tracking the BNP Paribas Energy & Metals Enhanced Roll (EUR Hedged), while ESAP.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, EMEH.DE returned 11.35%/yr vs 14.69%/yr for ESAP.DE. At a 0.18 correlation, their price movements are largely independent. EMEH.DE charges 0.39%/yr vs 0.15%/yr for ESAP.DE.
Performance
EMEH.DE vs. ESAP.DE - Performance Comparison
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Different Trading Currencies
EMEH.DE is traded in EUR, while ESAP.DE is traded in USD. To make them comparable, the ESAP.DE values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, EMEH.DE achieves a 21.33% return, which is significantly higher than ESAP.DE's 11.28% 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*
- —
ESAP.DE
- 1D
- -0.13%
- 1M
- 5.18%
- YTD
- 11.28%
- 6M
- 11.26%
- 1Y
- 25.49%
- 3Y*
- 18.74%
- 5Y*
- 14.69%
- 10Y*
- —
EMEH.DE vs. ESAP.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMEH.DE BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR | 21.33% | 25.40% | 6.63% | -12.26% | 11.15% | 27.11% | -4.42% | 1.52% |
ESAP.DE BNP Paribas Easy S&P 500 UCITS ETF USD | 11.29% | 4.09% | 32.39% | 23.18% | -14.49% | 41.14% | 7.12% | 3.49% |
Correlation
The correlation between EMEH.DE and ESAP.DE is -0.06, 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 | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019 | 0.18 |
The correlation between EMEH.DE and ESAP.DE shifts across timeframes, from -0.06 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EMEH.DE vs. ESAP.DE — Risk / Return Rank
EMEH.DE
ESAP.DE
EMEH.DE vs. ESAP.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 BNP Paribas Easy S&P 500 UCITS ETF USD (ESAP.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 | ESAP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.37 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.95 | 3.55 | +1.40 |
| Martin ratioReturn relative to average drawdown | 14.34 | 12.14 | +2.19 |
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 | ESAP.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.47 | 2.03 | +0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | 0.91 | -0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.48 | 0.84 | -1.32 |
Drawdowns
EMEH.DE vs. ESAP.DE - Drawdown Comparison
The maximum EMEH.DE drawdown since its inception was -92.42%, which is greater than ESAP.DE's maximum drawdown of -33.74%. Use the drawdown chart below to compare losses from any high point for EMEH.DE and ESAP.DE.
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Drawdown Indicators
| EMEH.DE | ESAP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.42% | -33.74% | -58.68% |
Max Drawdown (1Y)Largest decline over 1 year | -8.89% | -7.14% | -1.75% |
Max Drawdown (3Y)Largest decline over 3 years | -12.28% | -22.82% | +10.54% |
Max Drawdown (5Y)Largest decline over 5 years | -32.73% | -22.82% | -9.91% |
Current DrawdownCurrent decline from peak | -80.34% | -0.42% | -79.92% |
Average DrawdownAverage peak-to-trough decline | -81.38% | -4.99% | -76.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.08% | 2.09% | +0.99% |
Volatility
EMEH.DE vs. ESAP.DE - Volatility Comparison
BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (EMEH.DE) has a higher volatility of 4.15% compared to BNP Paribas Easy S&P 500 UCITS ETF USD (ESAP.DE) at 3.01%. This indicates that EMEH.DE's price experiences larger fluctuations and is considered to be riskier than ESAP.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 | ESAP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.15% | 3.01% | +1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 15.95% | 8.64% | +7.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.83% | 12.50% | +5.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.50% | 15.93% | +1.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.16% | 17.80% | +16.36% |
EMEH.DE vs. ESAP.DE - Expense Ratio Comparison
EMEH.DE has a 0.39% expense ratio, which is higher than ESAP.DE's 0.15% expense ratio.
Dividends
EMEH.DE vs. ESAP.DE - Dividend Comparison
Neither EMEH.DE nor ESAP.DE has paid dividends to shareholders.
Frequently Asked Questions
EMEH.DE and ESAP.DE have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ESAP.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ESAP.DE is cheaper with a 0.15% expense ratio, compared with 0.39% for EMEH.DE.
EMEH.DE is categorized as Commodities, while ESAP.DE is S&P 500. EMEH.DE tracks BNP Paribas Energy & Metals Enhanced Roll (EUR Hedged), while ESAP.DE tracks S&P 500 Index. Their fees differ too: 0.39% for EMEH.DE and 0.15% for ESAP.DE.
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