ETSZ.DE vs. EMWE.DE
ETSZ.DE (BNP Paribas Easy STOXX Europe 600 UCITS ETF) and EMWE.DE (BNP Paribas Easy MSCI World SRI S-Series PAB 5% Capped UCITS ETF EUR Acc) are both exchange-traded funds - ETSZ.DE is a Europe Equities fund tracking the STOXX® Europe 600, while EMWE.DE is a Global Equities fund tracking the MSCI World SRI S-Series PAB 5% Capped. Both are passively managed. Over the past 5 years, ETSZ.DE returned 9.62%/yr vs 8.57%/yr for EMWE.DE. A 0.80 correlation means they provide meaningful diversification when combined. ETSZ.DE charges 0.20%/yr vs 0.25%/yr for EMWE.DE.
Performance
ETSZ.DE vs. EMWE.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 EMWE.DE's 9.24% return.
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%
EMWE.DE
- 1D
- 0.48%
- 1M
- 5.73%
- YTD
- 9.24%
- 6M
- 10.02%
- 1Y
- 14.00%
- 3Y*
- 10.15%
- 5Y*
- 8.57%
- 10Y*
- —
ETSZ.DE vs. EMWE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 1.72% |
EMWE.DE BNP Paribas Easy MSCI World SRI S-Series PAB 5% Capped UCITS ETF EUR Acc | 9.24% | 0.19% | 15.43% | 14.90% | -16.11% | 38.30% | 11.27% | 31.39% | -5.44% | 4.98% |
Correlation
The correlation between ETSZ.DE and EMWE.DE is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2017 | 0.80 |
The correlation between ETSZ.DE and EMWE.DE has been stable across timeframes, ranging from 0.70 to 0.80 - a consistent structural relationship.
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Return for Risk
ETSZ.DE vs. EMWE.DE — Risk / Return Rank
ETSZ.DE
EMWE.DE
ETSZ.DE vs. EMWE.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 MSCI World SRI S-Series PAB 5% Capped UCITS ETF EUR Acc (EMWE.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 | EMWE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.22 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 1.69 | +0.03 |
| Martin ratioReturn relative to average drawdown | 6.45 | 6.10 | +0.35 |
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 | EMWE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 1.19 | +0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | 0.59 | +0.07 |
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 | 0.70 | -0.18 |
Drawdowns
ETSZ.DE vs. EMWE.DE - Drawdown Comparison
The maximum ETSZ.DE drawdown since its inception was -35.51%, which is greater than EMWE.DE's maximum drawdown of -31.05%. Use the drawdown chart below to compare losses from any high point for ETSZ.DE and EMWE.DE.
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Drawdown Indicators
| ETSZ.DE | EMWE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.51% | -31.05% | -4.46% |
Max Drawdown (1Y)Largest decline over 1 year | -9.39% | -8.26% | -1.13% |
Max Drawdown (3Y)Largest decline over 3 years | -16.35% | -20.00% | +3.65% |
Max Drawdown (5Y)Largest decline over 5 years | -20.55% | -20.79% | +0.24% |
Max Drawdown (10Y)Largest decline over 10 years | -35.51% | — | — |
Current DrawdownCurrent decline from peak | -1.70% | 0.00% | -1.70% |
Average DrawdownAverage peak-to-trough decline | -5.41% | -5.28% | -0.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 2.29% | +0.22% |
Volatility
ETSZ.DE vs. EMWE.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 MSCI World SRI S-Series PAB 5% Capped UCITS ETF EUR Acc (EMWE.DE) at 2.93%. This indicates that ETSZ.DE's price experiences larger fluctuations and is considered to be riskier than EMWE.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 | EMWE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 2.93% | +1.41% |
Volatility (6M)Calculated over the trailing 6-month period | 10.64% | 8.57% | +2.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.84% | 11.74% | +1.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.39% | 14.46% | -0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 15.52% | +0.02% |
ETSZ.DE vs. EMWE.DE - Expense Ratio Comparison
ETSZ.DE has a 0.20% expense ratio, which is lower than EMWE.DE's 0.25% 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
ETSZ.DE vs. EMWE.DE - Dividend Comparison
Neither ETSZ.DE nor EMWE.DE has paid dividends to shareholders.
Frequently Asked Questions
ETSZ.DE and EMWE.DE have a correlation of 0.74, 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 0.25% for EMWE.DE.
ETSZ.DE is categorized as Europe Equities, while EMWE.DE is Global Equities. ETSZ.DE tracks STOXX® Europe 600, while EMWE.DE tracks MSCI World SRI S-Series PAB 5% Capped. Their fees differ too: 0.20% for ETSZ.DE and 0.25% for EMWE.DE.
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