ETSZ.DE vs. MLPD.L
ETSZ.DE (BNP Paribas Easy STOXX Europe 600 UCITS ETF) and MLPD.L (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist)) are both exchange-traded funds - ETSZ.DE is a Europe Equities fund tracking the STOXX® Europe 600, while MLPD.L is a Energy Equities fund tracking the MSCI World/Energy NR USD. Both are passively managed. Over the past 10 years, ETSZ.DE returned 9.16%/yr vs 6.84%/yr for MLPD.L. At a 0.38 correlation, their price movements are largely independent. ETSZ.DE charges 0.20%/yr vs 0.50%/yr for MLPD.L.
Performance
ETSZ.DE vs. MLPD.L - Performance Comparison
Loading charts...
Different Trading Currencies
ETSZ.DE is traded in EUR, while MLPD.L is traded in USD. To make them comparable, the MLPD.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ETSZ.DE achieves a 7.24% return, which is significantly lower than MLPD.L's 21.02% return. Over the past 10 years, ETSZ.DE has outperformed MLPD.L with an annualized return of 9.16%, while MLPD.L has yielded a comparatively lower 6.84% annualized return.
ETSZ.DE
- 1D
- 0.59%
- 1M
- 2.47%
- YTD
- 7.24%
- 6M
- 9.85%
- 1Y
- 15.63%
- 3Y*
- 13.72%
- 5Y*
- 9.62%
- 10Y*
- 9.16%
MLPD.L
- 1D
- -0.61%
- 1M
- 3.57%
- YTD
- 21.02%
- 6M
- 15.65%
- 1Y
- 14.20%
- 3Y*
- 16.09%
- 5Y*
- 17.73%
- 10Y*
- 6.84%
ETSZ.DE vs. MLPD.L - 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% | 10.63% |
MLPD.L Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) | 21.02% | -9.81% | 30.62% | 16.11% | 39.99% | 47.14% | -37.04% | 9.64% | -10.92% | -19.89% |
Correlation
The correlation between ETSZ.DE and MLPD.L is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2013 | 0.38 |
Over the past year, the correlation between ETSZ.DE and MLPD.L has dropped to 0.01 - well below their long-term average of 0.38, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ETSZ.DE vs. MLPD.L — Risk / Return Rank
ETSZ.DE
MLPD.L
ETSZ.DE vs. MLPD.L - 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 Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) (MLPD.L). 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 | MLPD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.16 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 1.45 | +0.27 |
| Martin ratioReturn relative to average drawdown | 6.45 | 3.19 | +3.26 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ETSZ.DE | MLPD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 0.89 | +0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | 0.85 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.24 | +0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.15 | +0.37 |
Drawdowns
ETSZ.DE vs. MLPD.L - Drawdown Comparison
The maximum ETSZ.DE drawdown since its inception was -35.51%, smaller than the maximum MLPD.L drawdown of -79.38%. Use the drawdown chart below to compare losses from any high point for ETSZ.DE and MLPD.L.
Loading charts...
Drawdown Indicators
| ETSZ.DE | MLPD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.51% | -79.38% | +43.87% |
Max Drawdown (1Y)Largest decline over 1 year | -9.39% | -9.76% | +0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -16.35% | -22.59% | +6.24% |
Max Drawdown (5Y)Largest decline over 5 years | -20.55% | -22.59% | +2.04% |
Max Drawdown (10Y)Largest decline over 10 years | -35.51% | -76.44% | +40.93% |
Current DrawdownCurrent decline from peak | -1.70% | -2.55% | +0.85% |
Average DrawdownAverage peak-to-trough decline | -5.41% | -23.12% | +17.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 4.44% | -1.93% |
Volatility
ETSZ.DE vs. MLPD.L - Volatility Comparison
The current volatility for BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.DE) is 4.34%, while Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) (MLPD.L) has a volatility of 5.09%. This indicates that ETSZ.DE experiences smaller price fluctuations and is considered to be less risky than MLPD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ETSZ.DE | MLPD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 5.09% | -0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 10.64% | 12.18% | -1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.84% | 15.88% | -3.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.39% | 20.77% | -6.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 28.84% | -13.30% |
ETSZ.DE vs. MLPD.L - Expense Ratio Comparison
ETSZ.DE has a 0.20% expense ratio, which is lower than MLPD.L's 0.50% expense ratio.
Dividends
ETSZ.DE vs. MLPD.L - Dividend Comparison
ETSZ.DE has not paid dividends to shareholders, while MLPD.L's dividend yield for the trailing twelve months is around 7.56%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETSZ.DE BNP Paribas Easy STOXX Europe 600 UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MLPD.L Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) | 7.56% | 8.21% | 8.18% | 8.60% | 7.98% | 8.57% | 11.03% | 10.06% | 9.87% | 8.15% | 8.14% | 9.96% |
Frequently Asked Questions
ETSZ.DE and MLPD.L have a correlation of 0.01, 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 0.50% for MLPD.L.
ETSZ.DE is categorized as Europe Equities, while MLPD.L is Energy Equities. ETSZ.DE tracks STOXX® Europe 600, while MLPD.L tracks MSCI World/Energy NR USD. They also come from different issuers: BNP Paribas and Invesco. Their fees differ too: 0.20% for ETSZ.DE and 0.50% for MLPD.L.
Find the right allocation for ETSZ.DE and MLPD.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer