ESRI.DE vs. AXQE.DE

Last updated Jun 26, 2026

ESRI.DE (BNP Paribas Easy MSCI Emerging SRI S-Series PAB 5% Capped UCITS ETF USD Acc) and AXQE.DE (AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating) are both Emerging Markets Equities funds - ESRI.DE tracks the MSCI Emerging SRI S-Series PAB 5% Capped while AXQE.DE tracks the MSCI Emerging Markets ex China Climate Paris Aligned (EUR Hedged). Both are passively managed. Over the past year, ESRI.DE returned 27.39% vs 55.60% for AXQE.DE. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.30% expense ratio.

Performance

ESRI.DE vs. AXQE.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNP Paribas Easy MSCI Emerging SRI S-Series PAB 5% Capped UCITS ETF USD Acc (ESRI.DE) and AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating (AXQE.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, ESRI.DE achieves a 16.54% return, which is significantly lower than AXQE.DE's 31.88% return.

ESRI.DE

• 1D: 0.61%
• 1M: 1.49%
• YTD: 16.54%
• 6M: 17.23%
• 1Y: 27.39%
• 3Y*: 15.05%
• 5Y*: 3.65%
• 10Y*: —

AXQE.DE

• 1D: 0.00%
• 1M: -1.99%
• YTD: 31.88%
• 6M: 32.82%
• 1Y: 55.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ESRI.DE vs. AXQE.DE - Yearly Performance Comparison

	2026 (YTD)	2025
ESRI.DE BNP Paribas Easy MSCI Emerging SRI S-Series PAB 5% Capped UCITS ETF USD Acc	16.54%	24.07%
AXQE.DE AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating	31.88%	43.56%

Correlation

The correlation between ESRI.DE and AXQE.DE is 0.84, 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	0.84
Correlation (All Time) Calculated using the full available price history since Mar 31, 2025	0.83

The correlation between ESRI.DE and AXQE.DE has been stable across timeframes, ranging from 0.83 to 0.84 - a consistent structural relationship.

Return for Risk

ESRI.DE vs. AXQE.DE — Risk / Return Rank

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

ESRI.DE

ESRI.DE Risk / Return Rank: 47
ESRI.DE Sharpe Ratio Rank: 47
ESRI.DE Sortino Ratio Rank: 45
ESRI.DE Omega Ratio Rank: 51
ESRI.DE Calmar Ratio Rank: 45
ESRI.DE Martin Ratio Rank: 47

AXQE.DE

AXQE.DE Risk / Return Rank: 68
AXQE.DE Sharpe Ratio Rank: 60
AXQE.DE Sortino Ratio Rank: 59
AXQE.DE Omega Ratio Rank: 82
AXQE.DE Calmar Ratio Rank: 69
AXQE.DE Martin Ratio Rank: 73

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.

ESRI.DE vs. AXQE.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy MSCI Emerging SRI S-Series PAB 5% Capped UCITS ETF USD Acc (ESRI.DE) and AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating (AXQE.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.

	ESRI.DE	AXQE.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.57	-0.10
Sortino ratio: Return per unit of downside risk	2.05	2.23	-0.18
Omega ratio: Gain probability vs. loss probability	1.29	1.36	-0.07
Calmar ratio: Return relative to maximum drawdown	2.04	2.78	-0.74
Martin ratio: Return relative to average drawdown	7.22	9.80	-2.58

ESRI.DE vs. AXQE.DE - Sharpe Ratio Comparison

The current ESRI.DE Sharpe Ratio is 1.46, which is comparable to the AXQE.DE Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of ESRI.DE and AXQE.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.

Drawdowns

ESRI.DE vs. AXQE.DE - Drawdown Comparison

The maximum ESRI.DE drawdown since its inception was -42.02%, which is greater than AXQE.DE's maximum drawdown of -19.89%. Use the drawdown chart below to compare losses from any high point for ESRI.DE and AXQE.DE.

Drawdown Indicators

	ESRI.DE	AXQE.DE	Difference
Max Drawdown Largest peak-to-trough decline	-42.02%	-19.89%	-22.13%
Max Drawdown (1Y) Largest decline over 1 year	-13.38%	-19.89%	+6.51%
Max Drawdown (3Y) Largest decline over 3 years	-19.72%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-31.33%	—	—
Current Drawdown Current decline from peak	-4.47%	-6.35%	+1.88%
Average Drawdown Average peak-to-trough decline	-12.76%	-2.97%	-9.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.79%	5.66%	-1.87%

Volatility

ESRI.DE vs. AXQE.DE - Volatility Comparison

The current volatility for BNP Paribas Easy MSCI Emerging SRI S-Series PAB 5% Capped UCITS ETF USD Acc (ESRI.DE) is 7.94%, while AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF EUR Hedged Accumulating (AXQE.DE) has a volatility of 10.61%. This indicates that ESRI.DE experiences smaller price fluctuations and is considered to be less risky than AXQE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESRI.DE	AXQE.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.94%	10.61%	-2.67%
Volatility (6M) Calculated over the trailing 6-month period	17.07%	32.95%	-15.88%
Volatility (1Y) Calculated over the trailing 1-year period	18.66%	35.34%	-16.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.13%	34.26%	-17.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.80%	34.26%	-15.46%

ESRI.DE vs. AXQE.DE - Expense Ratio Comparison

Both ESRI.DE and AXQE.DE have an expense ratio of 0.30%.

Dividends

ESRI.DE vs. AXQE.DE - Dividend Comparison

Neither ESRI.DE nor AXQE.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ESRI.DE and AXQE.DE in my portfolio?

ESRI.DE and AXQE.DE have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ESRI.DE or AXQE.DE?

Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ESRI.DE or AXQE.DE?

ESRI.DE and AXQE.DE have the same expense ratio: 0.30% per year.

What is the main difference between ESRI.DE and AXQE.DE?

ESRI.DE tracks MSCI Emerging SRI S-Series PAB 5% Capped, while AXQE.DE tracks MSCI Emerging Markets ex China Climate Paris Aligned (EUR Hedged). They also come from different issuers: BNP Paribas and AXA IM.