ESAP.DE vs. P500.DE

Last updated Jun 5, 2026

ESAP.DE (BNP Paribas Easy S&P 500 UCITS ETF USD) and P500.DE (Invesco S&P 500 UCITS ETF) are both S&P 500 funds tracking the S&P 500 Index, from BNP Paribas and Invesco respectively. Both are passively managed. Over the past 5 years, ESAP.DE returned 13.64%/yr vs 13.92%/yr for P500.DE. Their correlation of 0.95 suggests significant overlap in exposure. ESAP.DE charges 0.15%/yr vs 0.05%/yr for P500.DE.

Performance

ESAP.DE vs. P500.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 Invesco S&P 500 UCITS ETF (P500.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ESAP.DE is traded in USD, while P500.DE is traded in EUR. To make them comparable, the P500.DE values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with ESAP.DE having a 10.03% return and P500.DE slightly higher at 10.19%.

ESAP.DE

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

P500.DE

• 1D: 0.02%
• 1M: 4.54%
• YTD: 10.19%
• 6M: 11.19%
• 1Y: 27.96%
• 3Y*: 22.32%
• 5Y*: 13.92%
• 10Y*: 15.42%

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

ESAP.DE vs. P500.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%
P500.DE Invesco S&P 500 UCITS ETF	10.19%	18.40%	24.98%	26.57%	-18.78%	29.92%	17.49%	4.99%

Correlation

The correlation between ESAP.DE and P500.DE is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019	0.95

The correlation between ESAP.DE and P500.DE has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

ESAP.DE vs. P500.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

P500.DE

P500.DE Risk / Return Rank: 70
P500.DE Sharpe Ratio Rank: 69
P500.DE Sortino Ratio Rank: 67
P500.DE Omega Ratio Rank: 71
P500.DE Calmar Ratio Rank: 73
P500.DE Martin Ratio Rank: 70

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. P500.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 Invesco S&P 500 UCITS ETF (P500.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	P500.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.34	2.42	-0.08
Sortino ratio: Return per unit of downside risk	3.41	3.46	-0.05
Omega ratio: Gain probability vs. loss probability	1.42	1.43	0.00
Calmar ratio: Return relative to maximum drawdown	3.35	3.26	+0.10
Martin ratio: Return relative to average drawdown	14.32	13.80	+0.51
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. P500.DE - Sharpe Ratio Comparison

The current ESAP.DE Sharpe Ratio is 2.34, which is comparable to the P500.DE Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of ESAP.DE and P500.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	P500.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	2.42	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.87	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.94	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	0.96	-0.07

Drawdowns

ESAP.DE vs. P500.DE - Drawdown Comparison

The maximum ESAP.DE drawdown since its inception was -34.23%, roughly equal to the maximum P500.DE drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for ESAP.DE and P500.DE.

Drawdown Indicators

	ESAP.DE	P500.DE	Difference
Max Drawdown Largest peak-to-trough decline	-34.23%	-34.25%	+0.02%
Max Drawdown (1Y) Largest decline over 1 year	-8.20%	-8.55%	+0.35%
Max Drawdown (3Y) Largest decline over 3 years	-18.69%	-19.49%	+0.80%
Max Drawdown (5Y) Largest decline over 5 years	-24.33%	-24.19%	-0.14%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.25%	—
Current Drawdown Current decline from peak	-0.56%	-0.56%	0.00%
Average Drawdown Average peak-to-trough decline	-5.37%	-3.64%	-1.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	2.02%	-0.09%

Volatility

ESAP.DE vs. P500.DE - Volatility Comparison

BNP Paribas Easy S&P 500 UCITS ETF USD (ESAP.DE) has a higher volatility of 3.09% compared to Invesco S&P 500 UCITS ETF (P500.DE) at 2.83%. This indicates that ESAP.DE's price experiences larger fluctuations and is considered to be riskier than P500.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESAP.DE	P500.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.09%	2.83%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	8.58%	8.14%	+0.44%
Volatility (1Y) Calculated over the trailing 1-year period	11.76%	11.51%	+0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.01%	15.89%	+0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.99%	16.32%	+1.67%

ESAP.DE vs. P500.DE - Expense Ratio Comparison

ESAP.DE has a 0.15% expense ratio, which is higher than P500.DE's 0.05% 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

ESAP.DE vs. P500.DE - Dividend Comparison

Neither ESAP.DE nor P500.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ESAP.DE and P500.DE in my portfolio?

With a correlation of 0.93, ESAP.DE and P500.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.

Which ETF is better, ESAP.DE or P500.DE?

On fees, P500.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ESAP.DE or P500.DE?

P500.DE is cheaper with a 0.05% expense ratio, compared with 0.15% for ESAP.DE.

What is the main difference between ESAP.DE and P500.DE?

Both ETFs track S&P 500 Index. They also come from different issuers: BNP Paribas and Invesco. Their fees differ too: 0.15% for ESAP.DE and 0.05% for P500.DE.