EMUS.DE vs. ESNB.DE
EMUS.DE (BNP Paribas Easy MSCI EMU SRI S-Series PAB 5% Capped UCITS ETF) and ESNB.DE (Expat Serbia BELEX15 UCITS ETF) are both Europe Equities funds - EMUS.DE tracks the MSCI EMU SRI S-Series PAB 5% Capped while ESNB.DE tracks the BELEX15 Index. Both are passively managed. Over the past 5 years, EMUS.DE returned 8.26%/yr vs -1.81%/yr for ESNB.DE. At a 0.00 correlation, their price movements are largely independent. EMUS.DE charges 0.25%/yr vs 1.38%/yr for ESNB.DE.
Performance
EMUS.DE vs. ESNB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EMUS.DE achieves a 11.99% return, which is significantly higher than ESNB.DE's -6.99% return.
EMUS.DE
- 1D
- -0.89%
- 1M
- -0.00%
- 6M
- 8.64%
- YTD
- 11.99%
- 1Y
- 17.72%
- 3Y*
- 13.78%
- 5Y*
- 8.26%
- 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*
- —
EMUS.DE vs. ESNB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMUS.DE BNP Paribas Easy MSCI EMU SRI S-Series PAB 5% Capped UCITS ETF | 11.99% | 15.33% | 10.68% | 12.15% | -14.21% | 25.76% | 1.58% | 7.40% |
ESNB.DE Expat Serbia BELEX15 UCITS ETF | -6.99% | 0.82% | 0.78% | 2.90% | -8.70% | 5.74% | -3.42% | -0.88% |
Correlation
The correlation between EMUS.DE and ESNB.DE is -0.01, 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 | -0.01 |
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 Sep 27, 2019 | 0.00 |
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Return for Risk
EMUS.DE vs. ESNB.DE — Risk / Return Rank
EMUS.DE
ESNB.DE
EMUS.DE vs. ESNB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy MSCI EMU SRI S-Series PAB 5% Capped UCITS ETF (EMUS.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.
| EMUS.DE | ESNB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.87 | ||
| Sortino ratioReturn per unit of downside risk | +2.64 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 0.91 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | -0.53 | +2.16 |
| Martin ratioReturn relative to average drawdown | 5.62 | -1.12 | +6.74 |
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Drawdowns
EMUS.DE vs. ESNB.DE - Drawdown Comparison
The maximum EMUS.DE drawdown since its inception was -35.75%, 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 EMUS.DE and ESNB.DE.
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Drawdown Indicators
| EMUS.DE | ESNB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.75% | -22.77% | -12.98% |
Max Drawdown (1Y)Largest decline over 1 year | -10.83% | -10.40% | -0.43% |
Max Drawdown (3Y)Largest decline over 3 years | -13.13% | -12.60% | -0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -25.18% | -15.85% | -9.33% |
Current DrawdownCurrent decline from peak | -1.62% | -13.67% | +12.05% |
Average DrawdownAverage peak-to-trough decline | -6.18% | -8.44% | +2.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.15% | 4.91% | -1.76% |
Volatility
EMUS.DE vs. ESNB.DE - Volatility Comparison
BNP Paribas Easy MSCI EMU SRI S-Series PAB 5% Capped UCITS ETF (EMUS.DE) has a higher volatility of 3.53% compared to Expat Serbia BELEX15 UCITS ETF (ESNB.DE) at 3.05%. This indicates that EMUS.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
| EMUS.DE | ESNB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.53% | 3.05% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 11.65% | 6.22% | +5.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.54% | 9.72% | +3.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.98% | 10.52% | +4.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.84% | 12.11% | +4.73% |
EMUS.DE vs. ESNB.DE - Expense Ratio Comparison
EMUS.DE has a 0.25% expense ratio, which is lower than ESNB.DE's 1.38% expense ratio.
Dividends
EMUS.DE vs. ESNB.DE - Dividend Comparison
Neither EMUS.DE nor ESNB.DE has paid dividends to shareholders.
Frequently Asked Questions
EMUS.DE and ESNB.DE have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMUS.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMUS.DE is cheaper with a 0.25% expense ratio, compared with 1.38% for ESNB.DE.
EMUS.DE tracks MSCI EMU SRI S-Series PAB 5% Capped, while ESNB.DE tracks BELEX15 Index. They also come from different issuers: BNP Paribas and Expat. Their fees differ too: 0.25% for EMUS.DE and 1.38% for ESNB.DE.
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