ENOA.DE vs. ETSZ.DE
ENOA.DE (BNP Paribas Easy MSCI North America ESG Filtered Min TE UCITS ETF) and ETSZ.DE (BNP Paribas Easy STOXX Europe 600 UCITS ETF) are both exchange-traded funds - ENOA.DE is a Large Cap Blend Equities fund tracking the MSCI North America ESG Filtered Min TE, while ETSZ.DE is a Europe Equities fund tracking the STOXX® Europe 600. Both are passively managed. Over the past 5 years, ENOA.DE returned 13.15%/yr vs 9.62%/yr for ETSZ.DE. A 0.72 correlation means they provide meaningful diversification when combined. ENOA.DE charges 0.15%/yr vs 0.20%/yr for ETSZ.DE.
Performance
ENOA.DE vs. ETSZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ENOA.DE achieves a 11.11% return, which is significantly higher than ETSZ.DE's 7.24% return.
ENOA.DE
- 1D
- -0.05%
- 1M
- 4.58%
- YTD
- 11.11%
- 6M
- 10.37%
- 1Y
- 24.56%
- 3Y*
- 17.84%
- 5Y*
- 13.15%
- 10Y*
- —
ETSZ.DE
- 1D
- 0.59%
- 1M
- 0.81%
- YTD
- 7.24%
- 6M
- 9.81%
- 1Y
- 15.98%
- 3Y*
- 13.72%
- 5Y*
- 9.62%
- 10Y*
- 9.16%
ENOA.DE vs. ETSZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ENOA.DE BNP Paribas Easy MSCI North America ESG Filtered Min TE UCITS ETF | 11.11% | 3.55% | 30.16% | 20.47% | -15.59% | 38.32% | 9.00% | 34.01% | -95.57% | 5.70% |
ETSZ.DE BNP Paribas Easy STOXX Europe 600 UCITS ETF | 7.24% | 20.43% | 8.21% | 15.61% | -10.31% | 24.89% | -1.49% | 28.86% | -11.18% | 10.63% |
Correlation
The correlation between ENOA.DE and ETSZ.DE is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 2016 | 0.72 |
The correlation between ENOA.DE and ETSZ.DE shifts across timeframes, from 0.60 (3 years) to 0.72 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ENOA.DE vs. ETSZ.DE — Risk / Return Rank
ENOA.DE
ETSZ.DE
ENOA.DE vs. ETSZ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy MSCI North America ESG Filtered Min TE UCITS ETF (ENOA.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.
| ENOA.DE | ETSZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.24 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.19 | 1.72 | +1.47 |
| Martin ratioReturn relative to average drawdown | 11.09 | 6.45 | +4.64 |
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
| ENOA.DE | ETSZ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.07 | 1.26 | +0.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 0.66 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.48 | 0.52 | -1.00 |
Drawdowns
ENOA.DE vs. ETSZ.DE - Drawdown Comparison
The maximum ENOA.DE drawdown since its inception was -96.01%, which is greater than ETSZ.DE's maximum drawdown of -35.51%. Use the drawdown chart below to compare losses from any high point for ENOA.DE and ETSZ.DE.
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Drawdown Indicators
| ENOA.DE | ETSZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.01% | -35.51% | -60.50% |
Max Drawdown (1Y)Largest decline over 1 year | -7.70% | -9.39% | +1.69% |
Max Drawdown (3Y)Largest decline over 3 years | -24.02% | -16.35% | -7.67% |
Max Drawdown (5Y)Largest decline over 5 years | -24.02% | -20.55% | -3.47% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.51% | — |
Current DrawdownCurrent decline from peak | -87.22% | -1.70% | -85.52% |
Average DrawdownAverage peak-to-trough decline | -75.96% | -5.41% | -70.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.22% | 2.51% | -0.29% |
Volatility
ENOA.DE vs. ETSZ.DE - Volatility Comparison
The current volatility for BNP Paribas Easy MSCI North America ESG Filtered Min TE UCITS ETF (ENOA.DE) is 2.73%, while BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.DE) has a volatility of 4.34%. This indicates that ENOA.DE experiences smaller price fluctuations and is considered to be less risky than ETSZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENOA.DE | ETSZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.73% | 4.34% | -1.61% |
Volatility (6M)Calculated over the trailing 6-month period | 7.75% | 10.64% | -2.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.82% | 12.84% | -1.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.40% | 14.39% | +1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.63% | 15.54% | +20.09% |
ENOA.DE vs. ETSZ.DE - Expense Ratio Comparison
ENOA.DE has a 0.15% expense ratio, which is lower than ETSZ.DE's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ENOA.DE vs. ETSZ.DE - Dividend Comparison
Neither ENOA.DE nor ETSZ.DE has paid dividends to shareholders.
Frequently Asked Questions
ENOA.DE and ETSZ.DE have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ENOA.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ENOA.DE is cheaper with a 0.15% expense ratio, compared with 0.20% for ETSZ.DE.
ENOA.DE is categorized as Large Cap Blend Equities, while ETSZ.DE is Europe Equities. ENOA.DE tracks MSCI North America ESG Filtered Min TE, while ETSZ.DE tracks STOXX® Europe 600. Their fees differ too: 0.15% for ENOA.DE and 0.20% for ETSZ.DE.
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