GC40.DE vs. XESP.DE
GC40.DE (Amundi CAC 40 ESG UCITS ETF - EUR) and XESP.DE (Xtrackers Spanish Equity UCITS ETF) are both Europe Equities funds - GC40.DE tracks the CAC 40® ESG while XESP.DE tracks the Solactive Spain 40. Both are passively managed. Over the past 5 years, GC40.DE returned 7.78%/yr vs 18.91%/yr for XESP.DE. A 0.78 correlation means they provide meaningful diversification when combined. GC40.DE charges 0.25%/yr vs 0.30%/yr for XESP.DE.
Performance
GC40.DE vs. XESP.DE - Performance Comparison
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Returns By Period
In the year-to-date period, GC40.DE achieves a 0.95% return, which is significantly lower than XESP.DE's 7.33% return.
GC40.DE
- 1D
- 1.36%
- 1M
- 3.87%
- YTD
- 0.95%
- 6M
- 1.40%
- 1Y
- 5.23%
- 3Y*
- 7.56%
- 5Y*
- 7.78%
- 10Y*
- 9.36%
XESP.DE
- 1D
- 0.58%
- 1M
- 3.73%
- YTD
- 7.33%
- 6M
- 11.53%
- 1Y
- 35.86%
- 3Y*
- 29.44%
- 5Y*
- 18.91%
- 10Y*
- —
GC40.DE vs. XESP.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GC40.DE Amundi CAC 40 ESG UCITS ETF - EUR | 0.95% | 15.22% | 2.62% | 20.63% | -8.91% | 30.85% | -4.80% | 32.50% | -9.74% | 3.95% |
XESP.DE Xtrackers Spanish Equity UCITS ETF | 7.33% | 58.64% | 14.65% | 26.79% | -1.62% | 10.88% | -10.20% | 15.86% | -12.41% | -1.69% |
Correlation
The correlation between GC40.DE and XESP.DE is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2017 | 0.78 |
The correlation between GC40.DE and XESP.DE has been stable across timeframes, ranging from 0.73 to 0.78 - a consistent structural relationship.
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Return for Risk
GC40.DE vs. XESP.DE — Risk / Return Rank
GC40.DE
XESP.DE
GC40.DE vs. XESP.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi CAC 40 ESG UCITS ETF - EUR (GC40.DE) and Xtrackers Spanish Equity UCITS ETF (XESP.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.
| GC40.DE | XESP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.78 | ||
| Sortino ratioReturn per unit of downside risk | -2.30 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.38 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 3.51 | -3.10 |
| Martin ratioReturn relative to average drawdown | 1.24 | 12.31 | -11.07 |
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
| GC40.DE | XESP.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.34 | 2.12 | -1.78 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 1.12 | -0.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.55 | -0.11 |
Drawdowns
GC40.DE vs. XESP.DE - Drawdown Comparison
The maximum GC40.DE drawdown since its inception was -38.73%, roughly equal to the maximum XESP.DE drawdown of -39.02%. Use the drawdown chart below to compare losses from any high point for GC40.DE and XESP.DE.
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Drawdown Indicators
| GC40.DE | XESP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.73% | -39.02% | +0.29% |
Max Drawdown (1Y)Largest decline over 1 year | -12.68% | -10.17% | -2.51% |
Max Drawdown (3Y)Largest decline over 3 years | -15.90% | -12.93% | -2.97% |
Max Drawdown (5Y)Largest decline over 5 years | -22.17% | -18.59% | -3.58% |
Max Drawdown (10Y)Largest decline over 10 years | -38.73% | — | — |
Current DrawdownCurrent decline from peak | -2.92% | -0.54% | -2.38% |
Average DrawdownAverage peak-to-trough decline | -6.59% | -7.37% | +0.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.22% | 2.91% | +1.31% |
Volatility
GC40.DE vs. XESP.DE - Volatility Comparison
Amundi CAC 40 ESG UCITS ETF - EUR (GC40.DE) has a higher volatility of 4.84% compared to Xtrackers Spanish Equity UCITS ETF (XESP.DE) at 4.48%. This indicates that GC40.DE's price experiences larger fluctuations and is considered to be riskier than XESP.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GC40.DE | XESP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.84% | 4.48% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 12.50% | 14.04% | -1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.56% | 16.86% | -1.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.92% | 16.68% | +0.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.96% | 18.78% | -0.82% |
GC40.DE vs. XESP.DE - Expense Ratio Comparison
GC40.DE has a 0.25% expense ratio, which is lower than XESP.DE's 0.30% expense ratio.
Dividends
GC40.DE vs. XESP.DE - Dividend Comparison
Neither GC40.DE nor XESP.DE has paid dividends to shareholders.
Frequently Asked Questions
GC40.DE and XESP.DE have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GC40.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GC40.DE is cheaper with a 0.25% expense ratio, compared with 0.30% for XESP.DE.
GC40.DE tracks CAC 40® ESG, while XESP.DE tracks Solactive Spain 40. They also come from different issuers: Amundi and Xtrackers. Their fees differ too: 0.25% for GC40.DE and 0.30% for XESP.DE.
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