ESEE.DE vs. ETSZ.DE

Last updated Jun 5, 2026

ESEE.DE (BNP Paribas Easy S&P 500 UCITS ETF EUR) and ETSZ.DE (BNP Paribas Easy STOXX Europe 600 UCITS ETF) are both exchange-traded funds - ESEE.DE is a S&P 500 fund tracking the S&P 500 Index, while ETSZ.DE is a Europe Equities fund tracking the STOXX® Europe 600. Both are passively managed. Over the past 10 years, ESEE.DE returned 15.09%/yr vs 9.16%/yr for ETSZ.DE. A 0.72 correlation means they provide meaningful diversification when combined. ESEE.DE charges 0.15%/yr vs 0.20%/yr for ETSZ.DE.

Performance

ESEE.DE vs. ETSZ.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in BNP Paribas Easy S&P 500 UCITS ETF EUR (ESEE.DE) and BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ESEE.DE achieves a 11.27% return, which is significantly higher than ETSZ.DE's 7.24% return. Over the past 10 years, ESEE.DE has outperformed ETSZ.DE with an annualized return of 15.09%, while ETSZ.DE has yielded a comparatively lower 9.16% annualized return.

ESEE.DE

• 1D: -0.16%
• 1M: 5.21%
• YTD: 11.27%
• 6M: 11.25%
• 1Y: 25.34%
• 3Y*: 18.69%
• 5Y*: 14.69%
• 10Y*: 15.09%

ETSZ.DE

• 1D: 0.59%
• 1M: 3.00%
• YTD: 7.24%
• 6M: 9.76%
• 1Y: 16.19%
• 3Y*: 13.72%
• 5Y*: 9.62%
• 10Y*: 9.16%

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

ESEE.DE vs. ETSZ.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ESEE.DE BNP Paribas Easy S&P 500 UCITS ETF EUR	11.27%	4.37%	32.16%	22.65%	-14.21%	40.85%	7.14%	34.97%	-0.85%	7.07%
ETSZ.DE BNP Paribas Easy STOXX Europe 600 UCITS ETF	7.24%	20.43%	8.21%	15.61%	-10.31%	24.89%	-1.49%	28.86%	-11.18%	10.63%

Correlation

The correlation between ESEE.DE and ETSZ.DE is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Nov 8, 2013	0.72

The correlation between ESEE.DE and ETSZ.DE shifts across timeframes, from 0.56 (3 years) to 0.72 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ESEE.DE vs. ETSZ.DE — Risk / Return Rank

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

ESEE.DE

ESEE.DE Risk / Return Rank: 68
ESEE.DE Sharpe Ratio Rank: 67
ESEE.DE Sortino Ratio Rank: 65
ESEE.DE Omega Ratio Rank: 69
ESEE.DE Calmar Ratio Rank: 72
ESEE.DE Martin Ratio Rank: 69

ETSZ.DE

ETSZ.DE Risk / Return Rank: 37
ETSZ.DE Sharpe Ratio Rank: 36
ETSZ.DE Sortino Ratio Rank: 36
ETSZ.DE Omega Ratio Rank: 37
ETSZ.DE Calmar Ratio Rank: 35
ETSZ.DE Martin Ratio Rank: 41

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.

ESEE.DE vs. ETSZ.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy S&P 500 UCITS ETF EUR (ESEE.DE) and BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.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.

	ESEE.DE	ETSZ.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.17	1.26	+0.92
Sortino ratio: Return per unit of downside risk	2.96	1.85	+1.11
Omega ratio: Gain probability vs. loss probability	1.40	1.24	+0.17
Calmar ratio: Return relative to maximum drawdown	3.51	1.72	+1.80
Martin ratio: Return relative to average drawdown	12.48	6.45	+6.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ESEE.DE vs. ETSZ.DE - Sharpe Ratio Comparison

The current ESEE.DE Sharpe Ratio is 2.17, which is higher than the ETSZ.DE Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of ESEE.DE and ETSZ.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

	ESEE.DE	ETSZ.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	1.26	+0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	0.66	+0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.93	0.59	+0.35
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	0.52	+0.43

Drawdowns

ESEE.DE vs. ETSZ.DE - Drawdown Comparison

The maximum ESEE.DE drawdown since its inception was -33.58%, smaller than the maximum ETSZ.DE drawdown of -35.51%. Use the drawdown chart below to compare losses from any high point for ESEE.DE and ETSZ.DE.

Drawdown Indicators

	ESEE.DE	ETSZ.DE	Difference
Max Drawdown Largest peak-to-trough decline	-33.58%	-35.51%	+1.93%
Max Drawdown (1Y) Largest decline over 1 year	-7.18%	-9.39%	+2.21%
Max Drawdown (3Y) Largest decline over 3 years	-23.46%	-16.35%	-7.11%
Max Drawdown (5Y) Largest decline over 5 years	-23.46%	-20.55%	-2.91%
Max Drawdown (10Y) Largest decline over 10 years	-33.58%	-35.51%	+1.93%
Current Drawdown Current decline from peak	-0.45%	-1.70%	+1.25%
Average Drawdown Average peak-to-trough decline	-4.12%	-5.41%	+1.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	2.51%	-0.48%

Volatility

ESEE.DE vs. ETSZ.DE - Volatility Comparison

The current volatility for BNP Paribas Easy S&P 500 UCITS ETF EUR (ESEE.DE) is 2.65%, while BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.DE) has a volatility of 4.34%. This indicates that ESEE.DE experiences smaller price fluctuations and is considered to be less risky than ETSZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESEE.DE	ETSZ.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.65%	4.34%	-1.69%
Volatility (6M) Calculated over the trailing 6-month period	7.60%	10.64%	-3.04%
Volatility (1Y) Calculated over the trailing 1-year period	11.61%	12.84%	-1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.20%	14.39%	+0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.09%	15.54%	+0.55%

ESEE.DE vs. ETSZ.DE - Expense Ratio Comparison

ESEE.DE has a 0.15% expense ratio, which is lower than ETSZ.DE's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ESEE.DE vs. ETSZ.DE - Dividend Comparison

Neither ESEE.DE nor ETSZ.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ESEE.DE and ETSZ.DE in my portfolio?

ESEE.DE and ETSZ.DE have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ESEE.DE or ETSZ.DE?

On fees, ESEE.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, ESEE.DE or ETSZ.DE?

ESEE.DE is cheaper with a 0.15% expense ratio, compared with 0.20% for ETSZ.DE.

What is the main difference between ESEE.DE and ETSZ.DE?

ESEE.DE is categorized as S&P 500, while ETSZ.DE is Europe Equities. ESEE.DE tracks S&P 500 Index, while ETSZ.DE tracks STOXX® Europe 600. Their fees differ too: 0.15% for ESEE.DE and 0.20% for ETSZ.DE.