ESAP.DE vs. SPYL.DE
ESAP.DE (BNP Paribas Easy S&P 500 UCITS ETF USD) and SPYL.DE (State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc)) are both S&P 500 funds tracking the S&P 500 Index, from BNP Paribas and State Street respectively. Both are passively managed. Over the past year, ESAP.DE returned 27.63% vs 27.76% for SPYL.DE. Their correlation of 0.94 suggests significant overlap in exposure. ESAP.DE charges 0.15%/yr vs 0.03%/yr for SPYL.DE.
Performance
ESAP.DE vs. SPYL.DE - Performance Comparison
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Different Trading Currencies
ESAP.DE is traded in USD, while SPYL.DE is traded in EUR. To make them comparable, the SPYL.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 SPYL.DE slightly higher at 10.09%.
ESAP.DE
- 1D
- 0.01%
- 1M
- 4.49%
- YTD
- 10.03%
- 6M
- 10.96%
- 1Y
- 27.63%
- 3Y*
- 21.99%
- 5Y*
- 13.64%
- 10Y*
- —
SPYL.DE
- 1D
- -0.02%
- 1M
- 4.47%
- YTD
- 10.09%
- 6M
- 11.10%
- 1Y
- 27.76%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ESAP.DE vs. SPYL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ESAP.DE BNP Paribas Easy S&P 500 UCITS ETF USD | 10.03% | 17.48% | 24.85% | 13.97% |
SPYL.DE State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) | 10.09% | 18.21% | 24.76% | 14.39% |
Correlation
The correlation between ESAP.DE and SPYL.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 (All Time) Calculated using the full available price history since Nov 2, 2023 | 0.94 |
The correlation between ESAP.DE and SPYL.DE has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.
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Return for Risk
ESAP.DE vs. SPYL.DE — Risk / Return Rank
ESAP.DE
SPYL.DE
ESAP.DE vs. SPYL.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 State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.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 | SPYL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.42 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | 3.21 | +0.14 |
| Martin ratioReturn relative to average drawdown | 14.32 | 13.72 | +0.60 |
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 | SPYL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.34 | 2.40 | -0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.88 | 1.90 | -1.02 |
Drawdowns
ESAP.DE vs. SPYL.DE - Drawdown Comparison
The maximum ESAP.DE drawdown since its inception was -34.23%, which is greater than SPYL.DE's maximum drawdown of -19.42%. Use the drawdown chart below to compare losses from any high point for ESAP.DE and SPYL.DE.
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Drawdown Indicators
| ESAP.DE | SPYL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.23% | -19.42% | -14.81% |
Max Drawdown (1Y)Largest decline over 1 year | -8.20% | -8.60% | +0.40% |
Max Drawdown (3Y)Largest decline over 3 years | -18.69% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -24.33% | — | — |
Current DrawdownCurrent decline from peak | -0.56% | -0.62% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -5.37% | -1.79% | -3.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 2.02% | -0.09% |
Volatility
ESAP.DE vs. SPYL.DE - Volatility Comparison
BNP Paribas Easy S&P 500 UCITS ETF USD (ESAP.DE) has a higher volatility of 3.09% compared to State Street SPDR S&P 500 UCITS ETF USD Unhedged (Acc) (SPYL.DE) at 2.85%. This indicates that ESAP.DE's price experiences larger fluctuations and is considered to be riskier than SPYL.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 | SPYL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.09% | 2.85% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 8.58% | 8.13% | +0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.76% | 11.54% | +0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.01% | 14.20% | +1.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.99% | 14.20% | +3.79% |
ESAP.DE vs. SPYL.DE - Expense Ratio Comparison
ESAP.DE has a 0.15% expense ratio, which is higher than SPYL.DE's 0.03% 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. SPYL.DE - Dividend Comparison
Neither ESAP.DE nor SPYL.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.93, ESAP.DE and SPYL.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.
On fees, SPYL.DE is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYL.DE is cheaper with a 0.03% expense ratio, compared with 0.15% for ESAP.DE.
Both ETFs track S&P 500 Index. They also come from different issuers: BNP Paribas and State Street. Their fees differ too: 0.15% for ESAP.DE and 0.03% for SPYL.DE.
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