ENX.PA vs. ESE.PA

Last updated Jul 21, 2026

ENX.PA (Euronext N.V.) is a stock, while ESE.PA (BNP Paribas Easy S&P 500 UCITS ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, ENX.PA returned 20.90%/yr vs 14.43%/yr for ESE.PA. At a 0.30 correlation, their price movements are largely independent.

Performance

ENX.PA vs. ESE.PA - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Euronext N.V. (ENX.PA) and BNP Paribas Easy S&P 500 UCITS ETF (ESE.PA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ENX.PA achieves a 17.98% return, which is significantly higher than ESE.PA's 12.34% return. Over the past 10 years, ENX.PA has outperformed ESE.PA with an annualized return of 20.90%, while ESE.PA has yielded a comparatively lower 14.43% annualized return.

ENX.PA

• 1D: -1.27%
• 1M: 0.68%
• 6M: 23.38%
• YTD: 17.98%
• 1Y: -1.49%
• 3Y*: 36.06%
• 5Y*: 13.65%
• 10Y*: 20.90%
• ALL TIME*: 23.30%

ESE.PA

• 1D: 0.39%
• 1M: 0.36%
• 6M: 11.63%
• YTD: 12.34%
• 1Y: 22.27%
• 3Y*: 18.08%
• 5Y*: 13.45%
• 10Y*: 14.43%
• ALL TIME*: 15.41%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ENX.PA vs. ESE.PA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ENX.PA Euronext N.V.	17.98%	20.57%	41.60%	17.59%	-22.31%	23.53%	26.75%	48.31%	0.44%	36.64%
ESE.PA BNP Paribas Easy S&P 500 UCITS ETF	12.34%	3.57%	33.66%	22.35%	-14.10%	40.40%	8.06%	33.39%	-0.04%	7.07%

Correlation

The correlation between ENX.PA and ESE.PA is 0.05, 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	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (10Y) Calculated over the trailing 10-year period	0.28
Correlation (All Time) Calculated using the full available price history since Jun 20, 2014	0.30

Over the past year, the correlation between ENX.PA and ESE.PA has dropped to 0.05 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.

Return for Risk

ENX.PA vs. ESE.PA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ENX.PA

ENX.PA Risk / Return Rank: 40
ENX.PA Sharpe Ratio Rank: 42
ENX.PA Sortino Ratio Rank: 35
ENX.PA Omega Ratio Rank: 35
ENX.PA Calmar Ratio Rank: 44
ENX.PA Martin Ratio Rank: 43

ESE.PA

ESE.PA Risk / Return Rank: 79
ESE.PA Sharpe Ratio Rank: 80
ESE.PA Sortino Ratio Rank: 78
ESE.PA Omega Ratio Rank: 79
ESE.PA Calmar Ratio Rank: 80
ESE.PA Martin Ratio Rank: 79

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ENX.PA vs. ESE.PA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Euronext N.V. (ENX.PA) and BNP Paribas Easy S&P 500 UCITS ETF (ESE.PA). 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.

	ENX.PA	ESE.PA	Difference
Sharpe ratio: Return per unit of total volatility	-0.07	1.92	-1.99
Sortino ratio: Return per unit of downside risk	0.05	2.64	-2.58
Omega ratio: Gain probability vs. loss probability	1.01	1.35	-0.34
Calmar ratio: Return relative to maximum drawdown	-0.06	3.08	-3.14
Martin ratio: Return relative to average drawdown	-0.12	10.83	-10.95

ENX.PA vs. ESE.PA - Sharpe Ratio Comparison

The current ENX.PA Sharpe Ratio is -0.07, which is lower than the ESE.PA Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of ENX.PA and ESE.PA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ENX.PA vs. ESE.PA - Drawdown Comparison

The maximum ENX.PA drawdown since its inception was -40.09%, which is greater than ESE.PA's maximum drawdown of -33.62%. Use the drawdown chart below to compare losses from any high point for ENX.PA and ESE.PA.

Drawdown Indicators

	ENX.PA	ESE.PA	Difference
Max Drawdown Largest peak-to-trough decline	-40.09%	-33.62%	-6.47%
Max Drawdown (1Y) Largest decline over 1 year	-25.07%	-7.13%	-17.94%
Max Drawdown (3Y) Largest decline over 3 years	-25.70%	-23.27%	-2.43%
Max Drawdown (5Y) Largest decline over 5 years	-40.09%	-23.27%	-16.82%
Max Drawdown (10Y) Largest decline over 10 years	-40.09%	-33.62%	-6.47%
Current Drawdown Current decline from peak	-2.57%	-0.95%	-1.62%
Average Drawdown Average peak-to-trough decline	-11.23%	-4.07%	-7.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.73%	2.04%	+9.69%

Volatility

ENX.PA vs. ESE.PA - Volatility Comparison

Euronext N.V. (ENX.PA) has a higher volatility of 5.19% compared to BNP Paribas Easy S&P 500 UCITS ETF (ESE.PA) at 3.06%. This indicates that ENX.PA's price experiences larger fluctuations and is considered to be riskier than ESE.PA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ENX.PA	ESE.PA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.19%	3.06%	+2.13%
Volatility (6M) Calculated over the trailing 6-month period	17.00%	7.79%	+9.21%
Volatility (1Y) Calculated over the trailing 1-year period	21.35%	11.48%	+9.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.21%	15.15%	+6.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.35%	16.07%	+8.28%

Dividends

ENX.PA vs. ESE.PA - Dividend Comparison

ENX.PA's dividend yield for the trailing twelve months is around 2.15%, while ESE.PA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENX.PA Euronext N.V.	2.15%	2.27%	2.29%	2.82%	2.79%	1.61%	1.93%	2.32%	3.77%	3.00%	3.46%	1.95%
ESE.PA BNP Paribas Easy S&P 500 UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ENX.PA and ESE.PA in my portfolio?

ENX.PA and ESE.PA have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.