ETSZ.DE vs. LCEU.DE
ETSZ.DE (BNP Paribas Easy STOXX Europe 600 UCITS ETF) and LCEU.DE (BNP Paribas Easy Low Carbon 100 Europe PAB UCITS ETF) are both Europe Equities funds from BNP Paribas - ETSZ.DE tracks the STOXX® Europe 600 while LCEU.DE tracks the Low Carbon 100 Europe PAB. Both are passively managed. Over the past 3 years, ETSZ.DE returned 13.72%/yr vs 7.74%/yr for LCEU.DE. Their correlation of 0.95 suggests significant overlap in exposure. ETSZ.DE charges 0.20%/yr vs 0.30%/yr for LCEU.DE.
Performance
ETSZ.DE vs. LCEU.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 higher than LCEU.DE's 4.87% 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%
LCEU.DE
- 1D
- 0.90%
- 1M
- 3.09%
- YTD
- 4.87%
- 6M
- 7.28%
- 1Y
- 9.14%
- 3Y*
- 7.74%
- 5Y*
- —
- 10Y*
- —
ETSZ.DE vs. LCEU.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ETSZ.DE BNP Paribas Easy STOXX Europe 600 UCITS ETF | 7.24% | 20.43% | 8.21% | 15.61% | 3.93% |
LCEU.DE BNP Paribas Easy Low Carbon 100 Europe PAB UCITS ETF | 4.87% | 9.84% | 5.83% | 14.59% | 2.39% |
Correlation
The correlation between ETSZ.DE and LCEU.DE is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2022 | 0.95 |
The correlation between ETSZ.DE and LCEU.DE has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.
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Return for Risk
ETSZ.DE vs. LCEU.DE — Risk / Return Rank
ETSZ.DE
LCEU.DE
ETSZ.DE vs. LCEU.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 Low Carbon 100 Europe PAB UCITS ETF (LCEU.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 | LCEU.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.14 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 0.88 | +0.84 |
| Martin ratioReturn relative to average drawdown | 6.45 | 2.91 | +3.54 |
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 | LCEU.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 0.71 | +0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | — | — |
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 | 0.73 | -0.21 |
Drawdowns
ETSZ.DE vs. LCEU.DE - Drawdown Comparison
The maximum ETSZ.DE drawdown since its inception was -35.51%, which is greater than LCEU.DE's maximum drawdown of -16.38%. Use the drawdown chart below to compare losses from any high point for ETSZ.DE and LCEU.DE.
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Drawdown Indicators
| ETSZ.DE | LCEU.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.51% | -16.38% | -19.13% |
Max Drawdown (1Y)Largest decline over 1 year | -9.39% | -10.37% | +0.98% |
Max Drawdown (3Y)Largest decline over 3 years | -16.35% | -16.38% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -20.55% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -35.51% | — | — |
Current DrawdownCurrent decline from peak | -1.70% | -1.59% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -5.41% | -2.92% | -2.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 3.13% | -0.62% |
Volatility
ETSZ.DE vs. LCEU.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 Low Carbon 100 Europe PAB UCITS ETF (LCEU.DE) at 4.11%. This indicates that ETSZ.DE's price experiences larger fluctuations and is considered to be riskier than LCEU.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 | LCEU.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 4.11% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 10.64% | 10.36% | +0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.84% | 12.77% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.39% | 13.14% | +1.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 13.14% | +2.40% |
ETSZ.DE vs. LCEU.DE - Expense Ratio Comparison
ETSZ.DE has a 0.20% expense ratio, which is lower than LCEU.DE's 0.30% expense ratio.
Dividends
ETSZ.DE vs. LCEU.DE - Dividend Comparison
Neither ETSZ.DE nor LCEU.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, ETSZ.DE and LCEU.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 LCEU.DE.
ETSZ.DE tracks STOXX® Europe 600, while LCEU.DE tracks Low Carbon 100 Europe PAB. Their fees differ too: 0.20% for ETSZ.DE and 0.30% for LCEU.DE.
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