ETSZ.DE vs. MVEE.DE
ETSZ.DE (BNP Paribas Easy STOXX Europe 600 UCITS ETF) and MVEE.DE (iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc)) are both Europe Equities funds - ETSZ.DE tracks the STOXX® Europe 600 while MVEE.DE tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, ETSZ.DE returned 9.90%/yr vs 6.17%/yr for MVEE.DE. Their correlation of 0.88 suggests significant overlap in exposure. ETSZ.DE charges 0.20%/yr vs 0.25%/yr for MVEE.DE.
Performance
ETSZ.DE vs. MVEE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ETSZ.DE achieves a 10.04% return, which is significantly higher than MVEE.DE's 8.14% return.
ETSZ.DE
- 1D
- 0.77%
- 1M
- 2.09%
- YTD
- 10.04%
- 6M
- 10.73%
- 1Y
- 22.31%
- 3Y*
- 15.25%
- 5Y*
- 9.90%
- 10Y*
- 10.16%
MVEE.DE
- 1D
- 0.92%
- 1M
- 1.27%
- YTD
- 8.14%
- 6M
- 8.67%
- 1Y
- 11.72%
- 3Y*
- 10.33%
- 5Y*
- 6.17%
- 10Y*
- —
ETSZ.DE vs. MVEE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ETSZ.DE BNP Paribas Easy STOXX Europe 600 UCITS ETF | 10.04% | 20.39% | 8.24% | 15.59% | -10.31% | 24.87% | 25.58% |
MVEE.DE iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc) | 8.14% | 8.71% | 8.75% | 12.46% | -15.04% | 23.79% | 13.95% |
Correlation
The correlation between ETSZ.DE and MVEE.DE is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Apr 17, 2020 | 0.88 |
Over the past year, the correlation between ETSZ.DE and MVEE.DE has dropped to 0.66 - well below their long-term average of 0.88, suggesting their price drivers have been diverging.
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Return for Risk
ETSZ.DE vs. MVEE.DE — Risk / Return Rank
ETSZ.DE
MVEE.DE
ETSZ.DE vs. MVEE.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 iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc) (MVEE.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.
| ETSZ.DE | MVEE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.22 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.36 | 1.58 | +0.78 |
| Martin ratioReturn relative to average drawdown | 9.04 | 5.45 | +3.59 |
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Drawdowns
ETSZ.DE vs. MVEE.DE - Drawdown Comparison
The maximum ETSZ.DE drawdown since its inception was -35.54%, which is greater than MVEE.DE's maximum drawdown of -20.19%. Use the drawdown chart below to compare losses from any high point for ETSZ.DE and MVEE.DE.
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Drawdown Indicators
| ETSZ.DE | MVEE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.54% | -20.19% | -15.35% |
Max Drawdown (1Y)Largest decline over 1 year | -9.41% | -7.40% | -2.01% |
Max Drawdown (3Y)Largest decline over 3 years | -16.34% | -12.19% | -4.15% |
Max Drawdown (5Y)Largest decline over 5 years | -20.50% | -20.19% | -0.31% |
Max Drawdown (10Y)Largest decline over 10 years | -35.54% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -5.34% | -4.50% | -0.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 2.15% | +0.31% |
Volatility
ETSZ.DE vs. MVEE.DE - Volatility Comparison
BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.DE) has a higher volatility of 2.92% compared to iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc) (MVEE.DE) at 2.19%. This indicates that ETSZ.DE's price experiences larger fluctuations and is considered to be riskier than MVEE.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 | MVEE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.92% | 2.19% | +0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 10.83% | 8.16% | +2.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.91% | 9.93% | +2.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.40% | 12.08% | +2.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.24% | 12.47% | +2.77% |
ETSZ.DE vs. MVEE.DE - Expense Ratio Comparison
ETSZ.DE has a 0.20% expense ratio, which is lower than MVEE.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. MVEE.DE - Dividend Comparison
Neither ETSZ.DE nor MVEE.DE has paid dividends to shareholders.
Frequently Asked Questions
ETSZ.DE and MVEE.DE have a correlation of 0.66, 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 MVEE.DE.
ETSZ.DE tracks STOXX® Europe 600, while MVEE.DE tracks MSCI Europe NR EUR. They also come from different issuers: BNP Paribas and iShares. Their fees differ too: 0.20% for ETSZ.DE and 0.25% for MVEE.DE.
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