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 9.16%/yr vs -0.25%/yr for USD=X. At a 0.05 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 7.24% return, which is significantly higher than USD=X's 1.84% return. Over the past 10 years, ETSZ.DE has outperformed USD=X with an annualized return of 9.16%, while USD=X has yielded a comparatively lower -0.25% 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%
USD=X
- 1D
- 0.00%
- 1M
- 2.18%
- YTD
- 1.84%
- 6M
- 0.90%
- 1Y
- -1.05%
- 3Y*
- -2.31%
- 5Y*
- 1.09%
- 10Y*
- -0.25%
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 | 7.24% | 20.43% | 8.21% | 15.61% | -10.31% | 24.89% | -1.49% | 28.86% | -11.18% | 10.63% |
USD=X USD Cash | 1.84% | -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 -0.13, 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 | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2013 | 0.05 |
The correlation between ETSZ.DE and USD=X shifts across timeframes, from -0.14 (5 years) to 0.05 (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
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.
| ETSZ.DE | USD=X | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.40 | ||
| Sortino ratioReturn per unit of downside risk | +2.01 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 0.98 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | -0.18 | +1.90 |
| Martin ratioReturn relative to average drawdown | 6.45 | -0.39 | +6.84 |
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 | USD=X | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | -0.15 | +1.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | 0.14 | +0.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | -0.03 | +0.62 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.10 | +0.42 |
Drawdowns
ETSZ.DE vs. USD=X - Drawdown Comparison
The maximum ETSZ.DE drawdown since its inception was -35.51%, 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 | -35.51% | -20.32% | -15.19% |
Max Drawdown (1Y)Largest decline over 1 year | -9.39% | -5.33% | -4.06% |
Max Drawdown (3Y)Largest decline over 3 years | -16.35% | -15.23% | -1.12% |
Max Drawdown (5Y)Largest decline over 5 years | -20.55% | -20.32% | -0.23% |
Max Drawdown (10Y)Largest decline over 10 years | -35.51% | -20.32% | -15.19% |
Current DrawdownCurrent decline from peak | -1.70% | -16.81% | +15.11% |
Average DrawdownAverage peak-to-trough decline | -5.41% | -9.48% | +4.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 1.89% | +0.62% |
Volatility
ETSZ.DE vs. USD=X - Volatility Comparison
BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.DE) has a higher volatility of 4.34% compared to USD Cash (USD=X) at 1.33%. 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 | 4.34% | 1.33% | +3.01% |
Volatility (6M)Calculated over the trailing 6-month period | 10.64% | 4.59% | +6.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.84% | 5.45% | +7.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.39% | 6.44% | +7.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 6.20% | +9.34% |
Frequently Asked Questions
ETSZ.DE and USD=X have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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