ETSZ.DE vs. USD=X
ETSZ.DE (BNP Paribas Easy STOXX Europe 600 UCITS ETF) is Europe Equities fund tracking the STOXX® Europe 600, while USD=X (USD Cash) is a currency. Over the past 10 years, ETSZ.DE returned 9.55%/yr vs -0.38%/yr for USD=X. At a 0.04 correlation, their price movements are largely independent.
Performance
ETSZ.DE vs. USD=X - Performance Comparison
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Different Trading Currencies
ETSZ.DE is traded in EUR, while USD=X is traded in USD. To make them comparable, the USD=X 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 10.61% return, which is significantly higher than USD=X's 2.97% return. Over the past 10 years, ETSZ.DE has outperformed USD=X with an annualized return of 9.55%, while USD=X has yielded a comparatively lower -0.38% annualized return.
ETSZ.DE
- 1D
- 0.62%
- 1M
- 1.29%
- 6M
- 8.62%
- YTD
- 10.61%
- 1Y
- 20.71%
- 3Y*
- 14.35%
- 5Y*
- 10.05%
- 10Y*
- 9.55%
- ALL TIME*
- 8.67%
USD=X
- 1D
- 0.00%
- 1M
- 0.46%
- 6M
- 2.78%
- YTD
- 2.97%
- 1Y
- 2.50%
- 3Y*
- -0.83%
- 5Y*
- 0.63%
- 10Y*
- -0.38%
- ALL TIME*
- 1.17%
ETSZ.DE vs. USD=X - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETSZ.DE BNP Paribas Easy STOXX Europe 600 UCITS ETF | 10.61% | 20.39% | 8.24% | 15.59% | -10.31% | 24.87% | -1.48% | 28.89% | -11.23% | 10.67% |
USD=X USD Cash | 2.97% | -11.87% | 6.60% | -3.00% | 6.20% | 7.48% | -8.24% | 2.26% | 4.69% | -12.29% |
Correlation
The correlation between ETSZ.DE and USD=X is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2013 | 0.04 |
The correlation between ETSZ.DE and USD=X shifts across timeframes, from -0.19 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ETSZ.DE vs. USD=X — Risk / Return Rank
ETSZ.DE
USD=X
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ETSZ.DE vs. USD=X - 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 USD Cash (USD=X). 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 | USD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.12 | ||
| Sortino ratioReturn per unit of downside risk | +1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.08 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.19 | 0.57 | +1.62 |
| Martin ratioReturn relative to average drawdown | 8.38 | 1.30 | +7.08 |
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Drawdowns
ETSZ.DE vs. USD=X - Drawdown Comparison
The maximum ETSZ.DE drawdown since its inception was -35.54%, which is greater than USD=X's maximum drawdown of -20.32%. Use the drawdown chart below to compare losses from any high point for ETSZ.DE and USD=X.
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Drawdown Indicators
| ETSZ.DE | USD=X | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.54% | -20.32% | -15.22% |
Max Drawdown (1Y)Largest decline over 1 year | -9.41% | -5.33% | -4.08% |
Max Drawdown (3Y)Largest decline over 3 years | -16.34% | -15.23% | -1.11% |
Max Drawdown (5Y)Largest decline over 5 years | -20.50% | -20.32% | -0.18% |
Max Drawdown (10Y)Largest decline over 10 years | -35.54% | -20.32% | -15.22% |
Current DrawdownCurrent decline from peak | -1.40% | -15.88% | +14.48% |
Average DrawdownAverage peak-to-trough decline | -5.32% | -9.38% | +4.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.47% | 1.77% | +0.70% |
Volatility
ETSZ.DE vs. USD=X - Volatility Comparison
BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.DE) has a higher volatility of 3.12% compared to USD Cash (USD=X) at 1.08%. This indicates that ETSZ.DE's price experiences larger fluctuations and is considered to be riskier than USD=X 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 | USD=X | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.12% | 1.08% | +2.04% |
Volatility (6M)Calculated over the trailing 6-month period | 10.96% | 4.62% | +6.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.97% | 5.30% | +7.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.34% | 6.42% | +7.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.19% | 6.14% | +9.05% |
Frequently Asked Questions
ETSZ.DE and USD=X have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Find the right allocation for ETSZ.DE and USD=X
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