ESEA.DE vs. EMEH.DE

Last updated Jun 5, 2026

ESEA.DE (BNP Paribas Easy S&P 500 UCITS ETF) and EMEH.DE (BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR) are both exchange-traded funds - ESEA.DE is a S&P 500 fund tracking the S&P 500 Index, while EMEH.DE is a Commodities fund tracking the BNP Paribas Energy & Metals Enhanced Roll (EUR Hedged). Both are passively managed. Over the past 5 years, ESEA.DE returned 13.49%/yr vs 10.32%/yr for EMEH.DE. At a 0.30 correlation, their price movements are largely independent. ESEA.DE charges 0.15%/yr vs 0.39%/yr for EMEH.DE.

Performance

ESEA.DE vs. EMEH.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNP Paribas Easy S&P 500 UCITS ETF (ESEA.DE) and BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (EMEH.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, ESEA.DE achieves a 10.05% return, which is significantly lower than EMEH.DE's 19.93% return.

ESEA.DE

• 1D: 0.03%
• 1M: 3.24%
• YTD: 10.05%
• 6M: 10.66%
• 1Y: 27.25%
• 3Y*: 22.05%
• 5Y*: 13.49%
• 10Y*: —

EMEH.DE

• 1D: -0.43%
• 1M: -1.65%
• YTD: 19.93%
• 6M: 24.62%
• 1Y: 46.70%
• 3Y*: 19.81%
• 5Y*: 10.32%
• 10Y*: —

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

ESEA.DE vs. EMEH.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ESEA.DE BNP Paribas Easy S&P 500 UCITS ETF	10.05%	17.58%	24.90%	26.00%	-19.21%	29.94%	17.69%	11.71%
EMEH.DE BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR	19.91%	41.56%	0.53%	-9.49%	5.02%	17.08%	4.92%	4.13%

Correlation

The correlation between ESEA.DE and EMEH.DE is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (All Time) Calculated using the full available price history since Aug 14, 2019	0.30

Over the past year, the correlation between ESEA.DE and EMEH.DE has dropped to 0.02 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.

Return for Risk

ESEA.DE vs. EMEH.DE — Risk / Return Rank

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

ESEA.DE

ESEA.DE Risk / Return Rank: 74
ESEA.DE Sharpe Ratio Rank: 73
ESEA.DE Sortino Ratio Rank: 78
ESEA.DE Omega Ratio Rank: 72
ESEA.DE Calmar Ratio Rank: 68
ESEA.DE Martin Ratio Rank: 76

EMEH.DE

EMEH.DE Risk / Return Rank: 77
EMEH.DE Sharpe Ratio Rank: 78
EMEH.DE Sortino Ratio Rank: 66
EMEH.DE Omega Ratio Rank: 78
EMEH.DE Calmar Ratio Rank: 87
EMEH.DE Martin Ratio Rank: 76

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.

ESEA.DE vs. EMEH.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy S&P 500 UCITS ETF (ESEA.DE) and BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (EMEH.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.

	ESEA.DE	EMEH.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.35	2.46	-0.11
Sortino ratio: Return per unit of downside risk	3.43	2.98	+0.45
Omega ratio: Gain probability vs. loss probability	1.42	1.44	-0.01
Calmar ratio: Return relative to maximum drawdown	3.35	4.63	-1.28
Martin ratio: Return relative to average drawdown	14.32	15.61	-1.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ESEA.DE vs. EMEH.DE - Sharpe Ratio Comparison

The current ESEA.DE Sharpe Ratio is 2.35, which is comparable to the EMEH.DE Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of ESEA.DE and EMEH.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

	ESEA.DE	EMEH.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	2.46	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.50	+0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	-0.46	+1.37

Drawdowns

ESEA.DE vs. EMEH.DE - Drawdown Comparison

The maximum ESEA.DE drawdown since its inception was -34.14%, smaller than the maximum EMEH.DE drawdown of -93.42%. Use the drawdown chart below to compare losses from any high point for ESEA.DE and EMEH.DE.

Drawdown Indicators

	ESEA.DE	EMEH.DE	Difference
Max Drawdown Largest peak-to-trough decline	-34.14%	-93.42%	+59.28%
Max Drawdown (1Y) Largest decline over 1 year	-8.22%	-10.04%	+1.82%
Max Drawdown (3Y) Largest decline over 3 years	-18.64%	-14.42%	-4.22%
Max Drawdown (5Y) Largest decline over 5 years	-24.35%	-32.67%	+8.32%
Current Drawdown Current decline from peak	-0.54%	-81.49%	+80.95%
Average Drawdown Average peak-to-trough decline	-5.28%	-82.55%	+77.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	2.98%	-1.06%

Volatility

ESEA.DE vs. EMEH.DE - Volatility Comparison

The current volatility for BNP Paribas Easy S&P 500 UCITS ETF (ESEA.DE) is 3.09%, while BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (EMEH.DE) has a volatility of 4.54%. This indicates that ESEA.DE experiences smaller price fluctuations and is considered to be less risky than EMEH.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESEA.DE	EMEH.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.09%	4.54%	-1.45%
Volatility (6M) Calculated over the trailing 6-month period	8.59%	16.59%	-8.00%
Volatility (1Y) Calculated over the trailing 1-year period	11.69%	18.87%	-7.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.99%	20.31%	-4.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.93%	35.51%	-17.58%

ESEA.DE vs. EMEH.DE - Expense Ratio Comparison

ESEA.DE has a 0.15% expense ratio, which is lower than EMEH.DE's 0.39% expense ratio.

Dividends

ESEA.DE vs. EMEH.DE - Dividend Comparison

ESEA.DE's dividend yield for the trailing twelve months is around 1.06%, while EMEH.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
EMEH.DE BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ESEA.DE BNP Paribas Easy S&P 500 UCITS ETF	1.06%	0.76%	0.65%	0.00%	1.08%	0.64%	0.67%

Frequently Asked Questions

Can I hold both ESEA.DE and EMEH.DE in my portfolio?

ESEA.DE and EMEH.DE have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ESEA.DE or EMEH.DE?

On fees, ESEA.DE 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, ESEA.DE or EMEH.DE?

ESEA.DE is cheaper with a 0.15% expense ratio, compared with 0.39% for EMEH.DE.

What is the main difference between ESEA.DE and EMEH.DE?

ESEA.DE is categorized as S&P 500, while EMEH.DE is Commodities. ESEA.DE tracks S&P 500 Index, while EMEH.DE tracks BNP Paribas Energy & Metals Enhanced Roll (EUR Hedged). Their fees differ too: 0.15% for ESEA.DE and 0.39% for EMEH.DE.