ETSZ.DE vs. EMEC.DE
ETSZ.DE (BNP Paribas Easy STOXX Europe 600 UCITS ETF) and EMEC.DE (BNP Paribas Easy ECPI Circular Economy Leaders UCITS ETF EUR) are both exchange-traded funds - ETSZ.DE is a Europe Equities fund tracking the STOXX® Europe 600, while EMEC.DE is a Global Equities fund tracking the ECPI Circular Economy Leaders Equity. Both are passively managed. Over the past 5 years, ETSZ.DE returned 9.62%/yr vs 9.49%/yr for EMEC.DE. Their correlation of 0.83 suggests significant overlap in exposure. ETSZ.DE charges 0.20%/yr vs 0.30%/yr for EMEC.DE.
Performance
ETSZ.DE vs. EMEC.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ETSZ.DE achieves a 7.24% return, which is significantly lower than EMEC.DE's 10.95% return.
ETSZ.DE
- 1D
- 0.59%
- 1M
- 0.81%
- YTD
- 7.24%
- 6M
- 9.81%
- 1Y
- 15.98%
- 3Y*
- 13.72%
- 5Y*
- 9.62%
- 10Y*
- 9.16%
EMEC.DE
- 1D
- -0.24%
- 1M
- 3.53%
- YTD
- 10.95%
- 6M
- 10.06%
- 1Y
- 21.52%
- 3Y*
- 11.29%
- 5Y*
- 9.49%
- 10Y*
- —
ETSZ.DE vs. EMEC.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ETSZ.DE BNP Paribas Easy STOXX Europe 600 UCITS ETF | 7.24% | 20.43% | 8.21% | 15.61% | -10.31% | 24.89% | -1.49% | 13.51% |
EMEC.DE BNP Paribas Easy ECPI Circular Economy Leaders UCITS ETF EUR | 10.95% | 5.92% | 10.86% | 19.48% | -12.91% | 37.20% | 8.36% | 18.47% |
Correlation
The correlation between ETSZ.DE and EMEC.DE is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2019 | 0.83 |
The correlation between ETSZ.DE and EMEC.DE has been stable across timeframes, ranging from 0.77 to 0.83 - a consistent structural relationship.
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Return for Risk
ETSZ.DE vs. EMEC.DE — Risk / Return Rank
ETSZ.DE
EMEC.DE
ETSZ.DE vs. EMEC.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.DE) and BNP Paribas Easy ECPI Circular Economy Leaders UCITS ETF EUR (EMEC.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.
| ETSZ.DE | EMEC.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.31 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 2.64 | -0.93 |
| Martin ratioReturn relative to average drawdown | 6.45 | 9.05 | -2.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ETSZ.DE | EMEC.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 1.73 | -0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | 0.67 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.82 | -0.30 |
Drawdowns
ETSZ.DE vs. EMEC.DE - Drawdown Comparison
The maximum ETSZ.DE drawdown since its inception was -35.51%, which is greater than EMEC.DE's maximum drawdown of -30.18%. Use the drawdown chart below to compare losses from any high point for ETSZ.DE and EMEC.DE.
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Drawdown Indicators
| ETSZ.DE | EMEC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.51% | -30.18% | -5.33% |
Max Drawdown (1Y)Largest decline over 1 year | -9.39% | -7.95% | -1.44% |
Max Drawdown (3Y)Largest decline over 3 years | -16.35% | -20.78% | +4.43% |
Max Drawdown (5Y)Largest decline over 5 years | -20.55% | -20.78% | +0.23% |
Max Drawdown (10Y)Largest decline over 10 years | -35.51% | — | — |
Current DrawdownCurrent decline from peak | -1.70% | -0.24% | -1.46% |
Average DrawdownAverage peak-to-trough decline | -5.41% | -5.05% | -0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 2.32% | +0.19% |
Volatility
ETSZ.DE vs. EMEC.DE - Volatility Comparison
BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.DE) has a higher volatility of 4.34% compared to BNP Paribas Easy ECPI Circular Economy Leaders UCITS ETF EUR (EMEC.DE) at 3.47%. This indicates that ETSZ.DE's price experiences larger fluctuations and is considered to be riskier than EMEC.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETSZ.DE | EMEC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 3.47% | +0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 10.64% | 8.86% | +1.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.84% | 12.15% | +0.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.39% | 14.05% | +0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 16.00% | -0.46% |
ETSZ.DE vs. EMEC.DE - Expense Ratio Comparison
ETSZ.DE has a 0.20% expense ratio, which is lower than EMEC.DE's 0.30% expense ratio.
Dividends
ETSZ.DE vs. EMEC.DE - Dividend Comparison
Neither ETSZ.DE nor EMEC.DE has paid dividends to shareholders.
Frequently Asked Questions
ETSZ.DE and EMEC.DE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ETSZ.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETSZ.DE is cheaper with a 0.20% expense ratio, compared with 0.30% for EMEC.DE.
ETSZ.DE is categorized as Europe Equities, while EMEC.DE is Global Equities. ETSZ.DE tracks STOXX® Europe 600, while EMEC.DE tracks ECPI Circular Economy Leaders Equity. Their fees differ too: 0.20% for ETSZ.DE and 0.30% for EMEC.DE.
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