ESE.PA vs. SPY5.L
ESE.PA (BNP Paribas Easy S&P 500 UCITS ETF) and SPY5.L (State Street SPDR S&P 500 UCITS ETF) are both S&P 500 funds - ESE.PA tracks the S&P 500 Index while SPY5.L tracks the S&P 500. Both are passively managed. Over the past 10 years, ESE.PA returned 15.10%/yr vs 15.10%/yr for SPY5.L. Their correlation of 0.87 suggests significant overlap in exposure. ESE.PA charges 0.15%/yr vs 0.09%/yr for SPY5.L.
Performance
ESE.PA vs. SPY5.L - Performance Comparison
Loading charts...
Different Trading Currencies
ESE.PA is traded in EUR, while SPY5.L is traded in USD. To make them comparable, the SPY5.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with ESE.PA having a 11.48% return and SPY5.L slightly higher at 11.57%. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: ESE.PA at 15.10% and SPY5.L at 15.10%.
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%
SPY5.L
- 1D
- -0.13%
- 1M
- 5.19%
- YTD
- 11.57%
- 6M
- 11.46%
- 1Y
- 25.68%
- 3Y*
- 18.91%
- 5Y*
- 14.76%
- 10Y*
- 15.10%
ESE.PA vs. SPY5.L - 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% |
SPY5.L State Street SPDR S&P 500 UCITS ETF | 11.57% | 3.49% | 33.64% | 22.84% | -13.64% | 38.95% | 7.83% | 33.81% | -0.63% | 7.52% |
Correlation
The correlation between ESE.PA and SPY5.L is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2012 | 0.87 |
The correlation between ESE.PA and SPY5.L has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ESE.PA vs. SPY5.L — Risk / Return Rank
ESE.PA
SPY5.L
ESE.PA vs. SPY5.L - 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 State Street SPDR S&P 500 UCITS ETF (SPY5.L). 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 | SPY5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.39 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.51 | 3.63 | -0.12 |
| Martin ratioReturn relative to average drawdown | 12.50 | 12.49 | +0.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ESE.PA | SPY5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.21 | 2.08 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.96 | 0.93 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.93 | 0.90 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.81 | 0.95 | -0.14 |
Drawdowns
ESE.PA vs. SPY5.L - Drawdown Comparison
The maximum ESE.PA drawdown since its inception was -36.74%, which is greater than SPY5.L's maximum drawdown of -33.39%. Use the drawdown chart below to compare losses from any high point for ESE.PA and SPY5.L.
Loading charts...
Drawdown Indicators
| ESE.PA | SPY5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.74% | -33.39% | -3.35% |
Max Drawdown (1Y)Largest decline over 1 year | -7.15% | -7.04% | -0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -23.28% | -22.49% | -0.79% |
Max Drawdown (5Y)Largest decline over 5 years | -23.28% | -22.49% | -0.79% |
Max Drawdown (10Y)Largest decline over 10 years | -33.62% | -33.39% | -0.23% |
Current DrawdownCurrent decline from peak | -0.41% | -0.41% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.88% | -4.05% | -0.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 2.05% | -0.03% |
Volatility
ESE.PA vs. SPY5.L - Volatility Comparison
The current volatility for BNP Paribas Easy S&P 500 UCITS ETF (ESE.PA) is 2.64%, while State Street SPDR S&P 500 UCITS ETF (SPY5.L) has a volatility of 3.01%. This indicates that ESE.PA experiences smaller price fluctuations and is considered to be less risky than SPY5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ESE.PA | SPY5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.64% | 3.01% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 7.47% | 8.54% | -1.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.37% | 12.28% | -0.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.12% | 15.89% | -0.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.09% | 16.68% | -0.59% |
ESE.PA vs. SPY5.L - Expense Ratio Comparison
ESE.PA has a 0.15% expense ratio, which is higher than SPY5.L's 0.09% 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
ESE.PA vs. SPY5.L - Dividend Comparison
ESE.PA has not paid dividends to shareholders, while SPY5.L's dividend yield for the trailing twelve months is around 0.89%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ESE.PA BNP Paribas Easy S&P 500 UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY5.L State Street SPDR S&P 500 UCITS ETF | 0.89% | 0.97% | 1.06% | 1.19% | 1.40% | 0.99% | 1.28% | 1.71% | 2.20% | 2.29% | 1.64% | 1.73% |
Frequently Asked Questions
With a correlation of 0.92, ESE.PA and SPY5.L 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, SPY5.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPY5.L is cheaper with a 0.09% expense ratio, compared with 0.15% for ESE.PA.
ESE.PA tracks S&P 500 Index, while SPY5.L tracks S&P 500. They also come from different issuers: BNP Paribas and State Street. Their fees differ too: 0.15% for ESE.PA and 0.09% for SPY5.L.
Find the right allocation for ESE.PA and SPY5.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer