ESAP.DE vs. BNQP.DE

Last updated Jun 5, 2026

ESAP.DE (BNP Paribas Easy S&P 500 UCITS ETF USD) and BNQP.DE (BNPP RICI Kupfer (TR) Enhanced ETC) are both exchange-traded funds - ESAP.DE is a S&P 500 fund tracking the S&P 500 Index, while BNQP.DE is a Metals fund tracking the RICI Enhanced Copper. Both are passively managed. Over the past 5 years, ESAP.DE returned 13.64%/yr vs 8.91%/yr for BNQP.DE. At a 0.31 correlation, their price movements are largely independent. ESAP.DE charges 0.15%/yr vs 1.00%/yr for BNQP.DE.

Performance

ESAP.DE vs. BNQP.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNP Paribas Easy S&P 500 UCITS ETF USD (ESAP.DE) and BNPP RICI Kupfer (TR) Enhanced ETC (BNQP.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ESAP.DE is traded in USD, while BNQP.DE is traded in EUR. To make them comparable, the BNQP.DE values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ESAP.DE achieves a 10.03% return, which is significantly lower than BNQP.DE's 11.53% return.

ESAP.DE

• 1D: 0.01%
• 1M: 4.49%
• YTD: 10.03%
• 6M: 10.96%
• 1Y: 27.63%
• 3Y*: 21.99%
• 5Y*: 13.64%
• 10Y*: —

BNQP.DE

• 1D: 0.84%
• 1M: 5.36%
• YTD: 11.53%
• 6M: 22.91%
• 1Y: 44.68%
• 3Y*: 20.67%
• 5Y*: 8.91%
• 10Y*: —

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

ESAP.DE vs. BNQP.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ESAP.DE BNP Paribas Easy S&P 500 UCITS ETF USD	10.03%	17.48%	24.85%	26.98%	-19.18%	29.97%	17.65%	4.91%
BNQP.DE BNPP RICI Kupfer (TR) Enhanced ETC	11.53%	36.51%	9.79%	5.41%	-8.51%	21.25%	23.32%	3.66%

Correlation

The correlation between ESAP.DE and BNQP.DE is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019	0.31

Return for Risk

ESAP.DE vs. BNQP.DE — Risk / Return Rank

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

ESAP.DE

ESAP.DE Risk / Return Rank: 73
ESAP.DE Sharpe Ratio Rank: 73
ESAP.DE Sortino Ratio Rank: 77
ESAP.DE Omega Ratio Rank: 72
ESAP.DE Calmar Ratio Rank: 68
ESAP.DE Martin Ratio Rank: 76

BNQP.DE

BNQP.DE Risk / Return Rank: 75
BNQP.DE Sharpe Ratio Rank: 68
BNQP.DE Sortino Ratio Rank: 69
BNQP.DE Omega Ratio Rank: 68
BNQP.DE Calmar Ratio Rank: 87
BNQP.DE Martin Ratio Rank: 84

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.

ESAP.DE vs. BNQP.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy S&P 500 UCITS ETF USD (ESAP.DE) and BNPP RICI Kupfer (TR) Enhanced ETC (BNQP.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.

	ESAP.DE	BNQP.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.34	2.25	+0.09
Sortino ratio: Return per unit of downside risk	3.41	3.06	+0.35
Omega ratio: Gain probability vs. loss probability	1.42	1.39	+0.03
Calmar ratio: Return relative to maximum drawdown	3.35	3.83	-0.47
Martin ratio: Return relative to average drawdown	14.32	12.90	+1.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ESAP.DE vs. BNQP.DE - Sharpe Ratio Comparison

The current ESAP.DE Sharpe Ratio is 2.34, which is comparable to the BNQP.DE Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of ESAP.DE and BNQP.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ESAP.DE	BNQP.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	2.25	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.43	+0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	0.65	+0.23

Drawdowns

ESAP.DE vs. BNQP.DE - Drawdown Comparison

The maximum ESAP.DE drawdown since its inception was -34.23%, roughly equal to the maximum BNQP.DE drawdown of -35.36%. Use the drawdown chart below to compare losses from any high point for ESAP.DE and BNQP.DE.

Drawdown Indicators

	ESAP.DE	BNQP.DE	Difference
Max Drawdown Largest peak-to-trough decline	-34.23%	-35.36%	+1.13%
Max Drawdown (1Y) Largest decline over 1 year	-8.20%	-11.62%	+3.42%
Max Drawdown (3Y) Largest decline over 3 years	-18.69%	-17.26%	-1.43%
Max Drawdown (5Y) Largest decline over 5 years	-24.33%	-31.23%	+6.90%
Current Drawdown Current decline from peak	-0.56%	-2.10%	+1.54%
Average Drawdown Average peak-to-trough decline	-5.37%	-10.39%	+5.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	3.45%	-1.52%

Volatility

ESAP.DE vs. BNQP.DE - Volatility Comparison

The current volatility for BNP Paribas Easy S&P 500 UCITS ETF USD (ESAP.DE) is 3.09%, while BNPP RICI Kupfer (TR) Enhanced ETC (BNQP.DE) has a volatility of 6.23%. This indicates that ESAP.DE experiences smaller price fluctuations and is considered to be less risky than BNQP.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESAP.DE	BNQP.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.09%	6.23%	-3.14%
Volatility (6M) Calculated over the trailing 6-month period	8.58%	16.24%	-7.66%
Volatility (1Y) Calculated over the trailing 1-year period	11.76%	19.77%	-8.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.01%	20.59%	-4.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.99%	19.82%	-1.83%

ESAP.DE vs. BNQP.DE - Expense Ratio Comparison

ESAP.DE has a 0.15% expense ratio, which is lower than BNQP.DE's 1.00% expense ratio.

Dividends

ESAP.DE vs. BNQP.DE - Dividend Comparison

Neither ESAP.DE nor BNQP.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ESAP.DE and BNQP.DE in my portfolio?

ESAP.DE and BNQP.DE have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ESAP.DE or BNQP.DE?

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.

Which ETF is cheaper, ESAP.DE or BNQP.DE?

ESAP.DE is cheaper with a 0.15% expense ratio, compared with 1.00% for BNQP.DE.

What is the main difference between ESAP.DE and BNQP.DE?

ESAP.DE is categorized as S&P 500, while BNQP.DE is Metals. ESAP.DE tracks S&P 500 Index, while BNQP.DE tracks RICI Enhanced Copper. Their fees differ too: 0.15% for ESAP.DE and 1.00% for BNQP.DE.