EXS2.DE vs. ESNB.DE
EXS2.DE (iShares TecDAX UCITS ETF (DE)) and ESNB.DE (Expat Serbia BELEX15 UCITS ETF) are both Europe Equities funds - EXS2.DE tracks the TecDAX® while ESNB.DE tracks the BELEX15 Index. Both are passively managed. Over the past 5 years, EXS2.DE returned 0.19%/yr vs -1.81%/yr for ESNB.DE. At a 0.01 correlation, their price movements are largely independent. EXS2.DE charges 0.51%/yr vs 1.38%/yr for ESNB.DE.
Performance
EXS2.DE vs. ESNB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EXS2.DE achieves a 3.65% return, which is significantly higher than ESNB.DE's -6.99% return.
EXS2.DE
- 1D
- -0.27%
- 1M
- -4.57%
- 6M
- 0.12%
- YTD
- 3.65%
- 1Y
- -5.39%
- 3Y*
- 4.93%
- 5Y*
- 0.19%
- 10Y*
- 8.08%
ESNB.DE
- 1D
- 0.23%
- 1M
- -0.56%
- 6M
- -5.83%
- YTD
- -6.99%
- 1Y
- -5.51%
- 3Y*
- -1.61%
- 5Y*
- -1.81%
- 10Y*
- —
EXS2.DE vs. ESNB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EXS2.DE iShares TecDAX UCITS ETF (DE) | 3.65% | 5.33% | 1.65% | 13.57% | -26.01% | 21.05% | 6.14% | 22.25% | -6.75% |
ESNB.DE Expat Serbia BELEX15 UCITS ETF | -6.99% | 0.82% | 0.78% | 2.90% | -8.70% | 5.74% | -3.42% | 5.43% | -7.45% |
Correlation
The correlation between EXS2.DE and ESNB.DE is -0.06, 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 | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2018 | 0.01 |
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Return for Risk
EXS2.DE vs. ESNB.DE — Risk / Return Rank
EXS2.DE
ESNB.DE
EXS2.DE vs. ESNB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares TecDAX UCITS ETF (DE) (EXS2.DE) and Expat Serbia BELEX15 UCITS ETF (ESNB.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.
| EXS2.DE | ESNB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.91 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.35 | -0.53 | +0.18 |
| Martin ratioReturn relative to average drawdown | -0.68 | -1.12 | +0.44 |
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Drawdowns
EXS2.DE vs. ESNB.DE - Drawdown Comparison
The maximum EXS2.DE drawdown since its inception was -61.61%, which is greater than ESNB.DE's maximum drawdown of -22.77%. Use the drawdown chart below to compare losses from any high point for EXS2.DE and ESNB.DE.
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Drawdown Indicators
| EXS2.DE | ESNB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.61% | -22.77% | -38.84% |
Max Drawdown (1Y)Largest decline over 1 year | -15.38% | -10.40% | -4.98% |
Max Drawdown (3Y)Largest decline over 3 years | -17.91% | -12.60% | -5.31% |
Max Drawdown (5Y)Largest decline over 5 years | -34.97% | -15.85% | -19.12% |
Max Drawdown (10Y)Largest decline over 10 years | -34.97% | — | — |
Current DrawdownCurrent decline from peak | -11.13% | -13.67% | +2.54% |
Average DrawdownAverage peak-to-trough decline | -14.21% | -8.44% | -5.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.63% | 4.91% | +2.72% |
Volatility
EXS2.DE vs. ESNB.DE - Volatility Comparison
iShares TecDAX UCITS ETF (DE) (EXS2.DE) has a higher volatility of 4.72% compared to Expat Serbia BELEX15 UCITS ETF (ESNB.DE) at 3.05%. This indicates that EXS2.DE's price experiences larger fluctuations and is considered to be riskier than ESNB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EXS2.DE | ESNB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.72% | 3.05% | +1.67% |
Volatility (6M)Calculated over the trailing 6-month period | 14.93% | 6.22% | +8.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.33% | 9.72% | +8.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.92% | 10.52% | +8.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.33% | 12.11% | +7.22% |
EXS2.DE vs. ESNB.DE - Expense Ratio Comparison
EXS2.DE has a 0.51% expense ratio, which is lower than ESNB.DE's 1.38% expense ratio.
Dividends
EXS2.DE vs. ESNB.DE - Dividend Comparison
Neither EXS2.DE nor ESNB.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ESNB.DE Expat Serbia BELEX15 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% |
EXS2.DE iShares TecDAX UCITS ETF (DE) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.04% | 0.15% | 0.25% | 0.36% |
Frequently Asked Questions
EXS2.DE and ESNB.DE have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EXS2.DE is cheaper at 0.51% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EXS2.DE is cheaper with a 0.51% expense ratio, compared with 1.38% for ESNB.DE.
EXS2.DE tracks TecDAX®, while ESNB.DE tracks BELEX15 Index. They also come from different issuers: iShares and Expat. Their fees differ too: 0.51% for EXS2.DE and 1.38% for ESNB.DE.
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