ESEH.DE vs. SPQH.DE
ESEH.DE (BNP Paribas Easy S&P 500 UCITS ETF EUR H) and SPQH.DE (Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating) are both exchange-traded funds - ESEH.DE is a S&P 500 fund tracking the S&P 500 Composite (EUR Hedged) Net Return Index, while SPQH.DE is a Defined Outcome fund tracking the Cboe S&P 500 15% WHT Quarterly 9% (-3% to -12%) Buffer Protect Index. Both are passively managed. Over the past 3 years, ESEH.DE returned 17.27%/yr vs 7.23%/yr for SPQH.DE. At a 0.36 correlation, their price movements are largely independent. ESEH.DE charges 0.14%/yr vs 0.50%/yr for SPQH.DE.
Performance
ESEH.DE vs. SPQH.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ESEH.DE achieves a 8.70% return, which is significantly higher than SPQH.DE's 3.63% return.
ESEH.DE
- 1D
- 0.16%
- 1M
- 0.03%
- 6M
- 8.65%
- YTD
- 8.70%
- 1Y
- 18.72%
- 3Y*
- 17.27%
- 5Y*
- 10.34%
- 10Y*
- 12.49%
SPQH.DE
- 1D
- 0.00%
- 1M
- 1.59%
- 6M
- 3.30%
- YTD
- 3.63%
- 1Y
- 9.27%
- 3Y*
- 7.23%
- 5Y*
- —
- 10Y*
- —
ESEH.DE vs. SPQH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ESEH.DE BNP Paribas Easy S&P 500 UCITS ETF EUR H | 8.70% | 14.79% | 22.63% | 16.32% |
SPQH.DE Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating | 3.63% | -4.41% | 21.88% | 0.96% |
Correlation
The correlation between ESEH.DE and SPQH.DE is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2023 | 0.36 |
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Return for Risk
ESEH.DE vs. SPQH.DE — Risk / Return Rank
ESEH.DE
SPQH.DE
ESEH.DE vs. SPQH.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 H (ESEH.DE) and Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating (SPQH.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ESEH.DE | SPQH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.22 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 2.95 | -0.67 |
| Martin ratioReturn relative to average drawdown | 9.06 | 7.22 | +1.84 |
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Drawdowns
ESEH.DE vs. SPQH.DE - Drawdown Comparison
The maximum ESEH.DE drawdown since its inception was -94.54%, which is greater than SPQH.DE's maximum drawdown of -17.68%. Use the drawdown chart below to compare losses from any high point for ESEH.DE and SPQH.DE.
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Drawdown Indicators
| ESEH.DE | SPQH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.54% | -17.68% | -76.86% |
Max Drawdown (1Y)Largest decline over 1 year | -8.66% | -3.16% | -5.50% |
Max Drawdown (3Y)Largest decline over 3 years | -18.51% | -17.68% | -0.83% |
Max Drawdown (5Y)Largest decline over 5 years | -25.90% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -94.54% | — | — |
Current DrawdownCurrent decline from peak | -82.43% | -3.08% | -79.35% |
Average DrawdownAverage peak-to-trough decline | -68.20% | -4.40% | -63.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 1.29% | +0.89% |
Volatility
ESEH.DE vs. SPQH.DE - Volatility Comparison
BNP Paribas Easy S&P 500 UCITS ETF EUR H (ESEH.DE) has a higher volatility of 2.73% compared to Global X S&P 500 Quarterly Tail Hedge UCITS ETF USD Accumulating (SPQH.DE) at 2.27%. This indicates that ESEH.DE's price experiences larger fluctuations and is considered to be riskier than SPQH.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESEH.DE | SPQH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.73% | 2.27% | +0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 9.17% | 4.72% | +4.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.09% | 7.44% | +4.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.02% | 11.03% | +4.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 410.50% | 11.03% | +399.47% |
ESEH.DE vs. SPQH.DE - Expense Ratio Comparison
ESEH.DE has a 0.14% expense ratio, which is lower than SPQH.DE's 0.50% expense ratio.
Dividends
ESEH.DE vs. SPQH.DE - Dividend Comparison
Neither ESEH.DE nor SPQH.DE has paid dividends to shareholders.
Frequently Asked Questions
ESEH.DE and SPQH.DE have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ESEH.DE is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ESEH.DE is cheaper with a 0.14% expense ratio, compared with 0.50% for SPQH.DE.
ESEH.DE is categorized as S&P 500, while SPQH.DE is Defined Outcome. ESEH.DE tracks S&P 500 Composite (EUR Hedged) Net Return Index, while SPQH.DE tracks Cboe S&P 500 15% WHT Quarterly 9% (-3% to -12%) Buffer Protect Index. They also come from different issuers: BNP Paribas Easy and Global X. Their fees differ too: 0.14% for ESEH.DE and 0.50% for SPQH.DE.
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