EMUS.DE vs. ETSZ.DE
EMUS.DE (BNP Paribas Easy MSCI EMU SRI S-Series PAB 5% Capped UCITS ETF) and ETSZ.DE (BNP Paribas Easy STOXX Europe 600 UCITS ETF) are both Europe Equities funds from BNP Paribas - EMUS.DE tracks the MSCI EMU SRI S-Series PAB 5% Capped while ETSZ.DE tracks the STOXX® Europe 600. Both are passively managed. Over the past 5 years, EMUS.DE returned 7.85%/yr vs 9.62%/yr for ETSZ.DE. A 0.78 correlation means they provide meaningful diversification when combined. EMUS.DE charges 0.25%/yr vs 0.20%/yr for ETSZ.DE.
Performance
EMUS.DE vs. ETSZ.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with EMUS.DE having a 7.56% return and ETSZ.DE slightly lower at 7.24%.
EMUS.DE
- 1D
- 0.74%
- 1M
- 5.38%
- YTD
- 7.56%
- 6M
- 9.47%
- 1Y
- 12.57%
- 3Y*
- 12.58%
- 5Y*
- 7.85%
- 10Y*
- —
ETSZ.DE
- 1D
- 0.59%
- 1M
- 3.00%
- YTD
- 7.24%
- 6M
- 9.76%
- 1Y
- 16.19%
- 3Y*
- 13.72%
- 5Y*
- 9.62%
- 10Y*
- 9.16%
EMUS.DE vs. ETSZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
EMUS.DE BNP Paribas Easy MSCI EMU SRI S-Series PAB 5% Capped UCITS ETF | 7.56% | 15.33% | 10.65% | 11.79% | -13.95% | 30.31% | 4.55% |
ETSZ.DE BNP Paribas Easy STOXX Europe 600 UCITS ETF | 7.24% | 20.43% | 8.21% | 15.61% | -10.31% | 24.89% | 9.04% |
Correlation
The correlation between EMUS.DE and ETSZ.DE is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Aug 20, 2020 | 0.78 |
The correlation between EMUS.DE and ETSZ.DE shifts across timeframes, from 0.77 (3 years) to 0.94 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMUS.DE vs. ETSZ.DE — Risk / Return Rank
EMUS.DE
ETSZ.DE
EMUS.DE vs. ETSZ.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 BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.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.
| EMUS.DE | ETSZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.24 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.15 | 1.72 | -0.56 |
| Martin ratioReturn relative to average drawdown | 3.93 | 6.45 | -2.52 |
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
| EMUS.DE | ETSZ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | 1.26 | -0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.57 | 0.66 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.78 | 0.52 | +0.26 |
Drawdowns
EMUS.DE vs. ETSZ.DE - Drawdown Comparison
The maximum EMUS.DE drawdown since its inception was -25.16%, smaller than the maximum ETSZ.DE drawdown of -35.51%. Use the drawdown chart below to compare losses from any high point for EMUS.DE and ETSZ.DE.
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Drawdown Indicators
| EMUS.DE | ETSZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.16% | -35.51% | +10.35% |
Max Drawdown (1Y)Largest decline over 1 year | -10.86% | -9.39% | -1.47% |
Max Drawdown (3Y)Largest decline over 3 years | -13.11% | -16.35% | +3.24% |
Max Drawdown (5Y)Largest decline over 5 years | -25.16% | -20.55% | -4.61% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.51% | — |
Current DrawdownCurrent decline from peak | -0.19% | -1.70% | +1.51% |
Average DrawdownAverage peak-to-trough decline | -5.64% | -5.41% | -0.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.19% | 2.51% | +0.68% |
Volatility
EMUS.DE vs. ETSZ.DE - Volatility Comparison
BNP Paribas Easy MSCI EMU SRI S-Series PAB 5% Capped UCITS ETF (EMUS.DE) and BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.DE) have volatilities of 4.25% and 4.34%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMUS.DE | ETSZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.25% | 4.34% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 11.27% | 10.64% | +0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.34% | 12.84% | +0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.68% | 14.39% | +2.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.35% | 15.54% | +1.81% |
EMUS.DE vs. ETSZ.DE - Expense Ratio Comparison
EMUS.DE has a 0.25% expense ratio, which is higher than ETSZ.DE's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EMUS.DE vs. ETSZ.DE - Dividend Comparison
Neither EMUS.DE nor ETSZ.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, EMUS.DE and ETSZ.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, ETSZ.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETSZ.DE is cheaper with a 0.20% expense ratio, compared with 0.25% for EMUS.DE.
EMUS.DE tracks MSCI EMU SRI S-Series PAB 5% Capped, while ETSZ.DE tracks STOXX® Europe 600. Their fees differ too: 0.25% for EMUS.DE and 0.20% for ETSZ.DE.
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