ESAP.DE vs. SPPE.DE
ESAP.DE (BNP Paribas Easy S&P 500 UCITS ETF USD) and SPPE.DE (SPDR S&P 500 UCITS ETF EUR Hedged Accumulating) are both S&P 500 funds - ESAP.DE tracks the S&P 500 Index while SPPE.DE tracks the S&P 500 EUR Dynamic Hedged Index. Both are passively managed. Over the past 5 years, ESAP.DE returned 13.64%/yr vs 10.15%/yr for SPPE.DE. Their correlation of 0.90 suggests significant overlap in exposure. ESAP.DE charges 0.15%/yr vs 0.12%/yr for SPPE.DE.
Performance
ESAP.DE vs. SPPE.DE - Performance Comparison
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Different Trading Currencies
ESAP.DE is traded in USD, while SPPE.DE is traded in EUR. To make them comparable, the SPPE.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 higher than SPPE.DE's 7.79% 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*
- —
SPPE.DE
- 1D
- 0.10%
- 1M
- 3.67%
- YTD
- 7.79%
- 6M
- 9.54%
- 1Y
- 27.00%
- 3Y*
- 22.91%
- 5Y*
- 10.15%
- 10Y*
- —
ESAP.DE vs. SPPE.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% |
SPPE.DE SPDR S&P 500 UCITS ETF EUR Hedged Accumulating | 7.79% | 30.21% | 16.17% | 27.06% | -26.01% | 18.35% | 26.32% | 5.88% |
Correlation
The correlation between ESAP.DE and SPPE.DE is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019 | 0.90 |
The correlation between ESAP.DE and SPPE.DE has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.
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Return for Risk
ESAP.DE vs. SPPE.DE — Risk / Return Rank
ESAP.DE
SPPE.DE
ESAP.DE vs. SPPE.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 SPDR S&P 500 UCITS ETF EUR Hedged Accumulating (SPPE.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 | SPPE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.32 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | 2.06 | +1.29 |
| Martin ratioReturn relative to average drawdown | 14.32 | 8.06 | +6.25 |
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
| ESAP.DE | SPPE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.34 | 1.91 | +0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 0.52 | +0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.88 | 0.71 | +0.17 |
Drawdowns
ESAP.DE vs. SPPE.DE - Drawdown Comparison
The maximum ESAP.DE drawdown since its inception was -34.23%, smaller than the maximum SPPE.DE drawdown of -36.87%. Use the drawdown chart below to compare losses from any high point for ESAP.DE and SPPE.DE.
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Drawdown Indicators
| ESAP.DE | SPPE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.23% | -36.87% | +2.64% |
Max Drawdown (1Y)Largest decline over 1 year | -8.20% | -13.03% | +4.83% |
Max Drawdown (3Y)Largest decline over 3 years | -18.69% | -15.19% | -3.50% |
Max Drawdown (5Y)Largest decline over 5 years | -24.33% | -36.87% | +12.54% |
Current DrawdownCurrent decline from peak | -0.56% | -0.75% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -5.37% | -7.95% | +2.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 3.34% | -1.41% |
Volatility
ESAP.DE vs. SPPE.DE - Volatility Comparison
The current volatility for BNP Paribas Easy S&P 500 UCITS ETF USD (ESAP.DE) is 3.09%, while SPDR S&P 500 UCITS ETF EUR Hedged Accumulating (SPPE.DE) has a volatility of 3.58%. This indicates that ESAP.DE experiences smaller price fluctuations and is considered to be less risky than SPPE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESAP.DE | SPPE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.09% | 3.58% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 8.58% | 10.50% | -1.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.76% | 14.07% | -2.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.01% | 19.36% | -3.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.99% | 21.45% | -3.46% |
ESAP.DE vs. SPPE.DE - Expense Ratio Comparison
ESAP.DE has a 0.15% expense ratio, which is higher than SPPE.DE's 0.12% 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. SPPE.DE - Dividend Comparison
Neither ESAP.DE nor SPPE.DE has paid dividends to shareholders.
Frequently Asked Questions
ESAP.DE and SPPE.DE have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPPE.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPPE.DE is cheaper with a 0.12% expense ratio, compared with 0.15% for ESAP.DE.
ESAP.DE tracks S&P 500 Index, while SPPE.DE tracks S&P 500 EUR Dynamic Hedged Index. They also come from different issuers: BNP Paribas and State Street. Their fees differ too: 0.15% for ESAP.DE and 0.12% for SPPE.DE.
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