ESE.PA vs. 18MF.DE

Last updated Jun 5, 2026

ESE.PA (BNP Paribas Easy S&P 500 UCITS ETF) and 18MF.DE (Amundi ETF Leveraged MSCI USA Daily UCITS ETF) are both exchange-traded funds - ESE.PA is a S&P 500 fund tracking the S&P 500 Index, while 18MF.DE is a Leveraged Equities fund tracking the MSCI USA Index (200%). Both are passively managed. Over the past 10 years, ESE.PA returned 15.10%/yr vs 25.40%/yr for 18MF.DE. Their correlation of 0.91 suggests significant overlap in exposure. ESE.PA charges 0.15%/yr vs 0.50%/yr for 18MF.DE.

Performance

ESE.PA vs. 18MF.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in BNP Paribas Easy S&P 500 UCITS ETF (ESE.PA) and Amundi ETF Leveraged MSCI USA Daily UCITS ETF (18MF.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ESE.PA achieves a 11.48% return, which is significantly lower than 18MF.DE's 21.45% return. Over the past 10 years, ESE.PA has underperformed 18MF.DE with an annualized return of 15.10%, while 18MF.DE has yielded a comparatively higher 25.40% annualized return.

ESE.PA

• 1D: -0.10%
• 1M: 5.24%
• YTD: 11.48%
• 6M: 11.30%
• 1Y: 25.41%
• 3Y*: 18.70%
• 5Y*: 14.69%
• 10Y*: 15.10%

18MF.DE

• 1D: -0.20%
• 1M: 10.64%
• YTD: 21.45%
• 6M: 20.92%
• 1Y: 50.02%
• 3Y*: 32.82%
• 5Y*: 23.27%
• 10Y*: 25.40%

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

ESE.PA vs. 18MF.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ESE.PA BNP Paribas Easy S&P 500 UCITS ETF	11.48%	3.58%	33.68%	22.35%	-14.10%	40.40%	8.06%	33.39%	-0.04%	7.07%
18MF.DE Amundi ETF Leveraged MSCI USA Daily UCITS ETF	21.45%	1.66%	64.13%	43.13%	-33.43%	88.19%	5.29%	77.81%	-5.75%	12.05%

Correlation

The correlation between ESE.PA and 18MF.DE is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Feb 25, 2010	0.91

The correlation between ESE.PA and 18MF.DE has been stable across timeframes, ranging from 0.91 to 0.99 - a consistent structural relationship.

Return for Risk

ESE.PA vs. 18MF.DE — Risk / Return Rank

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

ESE.PA

ESE.PA Risk / Return Rank: 69
ESE.PA Sharpe Ratio Rank: 68
ESE.PA Sortino Ratio Rank: 67
ESE.PA Omega Ratio Rank: 71
ESE.PA Calmar Ratio Rank: 72
ESE.PA Martin Ratio Rank: 69

18MF.DE

18MF.DE Risk / Return Rank: 63
18MF.DE Sharpe Ratio Rank: 65
18MF.DE Sortino Ratio Rank: 58
18MF.DE Omega Ratio Rank: 61
18MF.DE Calmar Ratio Rank: 68
18MF.DE Martin Ratio Rank: 63

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.

ESE.PA vs. 18MF.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy S&P 500 UCITS ETF (ESE.PA) and Amundi ETF Leveraged MSCI USA Daily UCITS ETF (18MF.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.

	ESE.PA	18MF.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.21	2.13	+0.08
Sortino ratio: Return per unit of downside risk	3.01	2.73	+0.28
Omega ratio: Gain probability vs. loss probability	1.41	1.37	+0.04
Calmar ratio: Return relative to maximum drawdown	3.51	3.33	+0.18
Martin ratio: Return relative to average drawdown	12.50	11.13	+1.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ESE.PA vs. 18MF.DE - Sharpe Ratio Comparison

The current ESE.PA Sharpe Ratio is 2.21, which is comparable to the 18MF.DE Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of ESE.PA and 18MF.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

	ESE.PA	18MF.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.21	2.13	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	0.74	+0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.93	0.78	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.82	-0.01

Drawdowns

ESE.PA vs. 18MF.DE - Drawdown Comparison

The maximum ESE.PA drawdown since its inception was -36.74%, smaller than the maximum 18MF.DE drawdown of -59.67%. Use the drawdown chart below to compare losses from any high point for ESE.PA and 18MF.DE.

Drawdown Indicators

	ESE.PA	18MF.DE	Difference
Max Drawdown Largest peak-to-trough decline	-36.74%	-59.67%	+22.93%
Max Drawdown (1Y) Largest decline over 1 year	-7.15%	-14.95%	+7.80%
Max Drawdown (3Y) Largest decline over 3 years	-23.28%	-42.90%	+19.62%
Max Drawdown (5Y) Largest decline over 5 years	-23.28%	-42.90%	+19.62%
Max Drawdown (10Y) Largest decline over 10 years	-33.62%	-59.67%	+26.05%
Current Drawdown Current decline from peak	-0.41%	-0.83%	+0.42%
Average Drawdown Average peak-to-trough decline	-4.88%	-9.91%	+5.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.02%	4.48%	-2.46%

Volatility

ESE.PA vs. 18MF.DE - Volatility Comparison

The current volatility for BNP Paribas Easy S&P 500 UCITS ETF (ESE.PA) is 2.64%, while Amundi ETF Leveraged MSCI USA Daily UCITS ETF (18MF.DE) has a volatility of 5.41%. This indicates that ESE.PA experiences smaller price fluctuations and is considered to be less risky than 18MF.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESE.PA	18MF.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	5.41%	-2.77%
Volatility (6M) Calculated over the trailing 6-month period	7.47%	15.46%	-7.99%
Volatility (1Y) Calculated over the trailing 1-year period	11.37%	23.36%	-11.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.12%	30.89%	-15.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.09%	32.49%	-16.40%

ESE.PA vs. 18MF.DE - Expense Ratio Comparison

ESE.PA has a 0.15% expense ratio, which is lower than 18MF.DE's 0.50% expense ratio.

Dividends

ESE.PA vs. 18MF.DE - Dividend Comparison

Neither ESE.PA nor 18MF.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ESE.PA and 18MF.DE in my portfolio?

With a correlation of 0.99, ESE.PA and 18MF.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, ESE.PA or 18MF.DE?

On fees, ESE.PA 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, ESE.PA or 18MF.DE?

ESE.PA is cheaper with a 0.15% expense ratio, compared with 0.50% for 18MF.DE.

What is the main difference between ESE.PA and 18MF.DE?

ESE.PA is categorized as S&P 500, while 18MF.DE is Leveraged Equities. ESE.PA tracks S&P 500 Index, while 18MF.DE tracks MSCI USA Index (200%). They also come from different issuers: BNP Paribas and Amundi. Their fees differ too: 0.15% for ESE.PA and 0.50% for 18MF.DE.