LCEU.DE vs. ASWA.DE

Last updated Jun 5, 2026

LCEU.DE (BNP Paribas Easy Low Carbon 100 Europe PAB UCITS ETF) and ASWA.DE (HANetf European Green Deal UCITS ETF Acc) are both Europe Equities funds - LCEU.DE tracks the Low Carbon 100 Europe PAB while ASWA.DE tracks the SGI European Green Deal ESG Screened. Both are passively managed. Over the past year, LCEU.DE returned 9.14% vs 0.26% for ASWA.DE. A 0.67 correlation means they provide meaningful diversification when combined. LCEU.DE charges 0.30%/yr vs 0.60%/yr for ASWA.DE.

Performance

LCEU.DE vs. ASWA.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in BNP Paribas Easy Low Carbon 100 Europe PAB UCITS ETF (LCEU.DE) and HANetf European Green Deal UCITS ETF Acc (ASWA.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LCEU.DE achieves a 4.87% return, which is significantly higher than ASWA.DE's -10.58% return.

LCEU.DE

• 1D: 0.90%
• 1M: 3.09%
• YTD: 4.87%
• 6M: 7.28%
• 1Y: 9.14%
• 3Y*: 7.74%
• 5Y*: —
• 10Y*: —

ASWA.DE

• 1D: -0.09%
• 1M: 0.41%
• YTD: -10.58%
• 6M: -9.71%
• 1Y: 0.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

LCEU.DE vs. ASWA.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
LCEU.DE BNP Paribas Easy Low Carbon 100 Europe PAB UCITS ETF	4.87%	9.84%	5.83%	2.15%
ASWA.DE HANetf European Green Deal UCITS ETF Acc	-10.58%	26.07%	-11.37%	-2.40%

Correlation

The correlation between LCEU.DE and ASWA.DE is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Jul 25, 2023	0.67

Over the past year, the correlation between LCEU.DE and ASWA.DE has dropped to 0.44 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

Return for Risk

LCEU.DE vs. ASWA.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LCEU.DE

LCEU.DE Risk / Return Rank: 22
LCEU.DE Sharpe Ratio Rank: 22
LCEU.DE Sortino Ratio Rank: 21
LCEU.DE Omega Ratio Rank: 22
LCEU.DE Calmar Ratio Rank: 20
LCEU.DE Martin Ratio Rank: 23

ASWA.DE

ASWA.DE Risk / Return Rank: 10
ASWA.DE Sharpe Ratio Rank: 9
ASWA.DE Sortino Ratio Rank: 10
ASWA.DE Omega Ratio Rank: 13
ASWA.DE Calmar Ratio Rank: 9
ASWA.DE Martin Ratio Rank: 9

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LCEU.DE vs. ASWA.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy Low Carbon 100 Europe PAB UCITS ETF (LCEU.DE) and HANetf European Green Deal UCITS ETF Acc (ASWA.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.

	LCEU.DE	ASWA.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.71	0.01	+0.71
Sortino ratio: Return per unit of downside risk	1.11	0.23	+0.88
Omega ratio: Gain probability vs. loss probability	1.14	1.06	+0.08
Calmar ratio: Return relative to maximum drawdown	0.88	0.01	+0.87
Martin ratio: Return relative to average drawdown	2.91	0.03	+2.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LCEU.DE vs. ASWA.DE - Sharpe Ratio Comparison

The current LCEU.DE Sharpe Ratio is 0.71, which is higher than the ASWA.DE Sharpe Ratio of 0.01. The chart below compares the historical Sharpe Ratios of LCEU.DE and ASWA.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	LCEU.DE	ASWA.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.71	0.01	+0.71
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	-0.04	+0.76

Drawdowns

LCEU.DE vs. ASWA.DE - Drawdown Comparison

The maximum LCEU.DE drawdown since its inception was -16.38%, smaller than the maximum ASWA.DE drawdown of -30.36%. Use the drawdown chart below to compare losses from any high point for LCEU.DE and ASWA.DE.

Drawdown Indicators

	LCEU.DE	ASWA.DE	Difference
Max Drawdown Largest peak-to-trough decline	-16.38%	-30.36%	+13.98%
Max Drawdown (1Y) Largest decline over 1 year	-10.37%	-30.36%	+19.99%
Max Drawdown (3Y) Largest decline over 3 years	-16.38%	—	—
Current Drawdown Current decline from peak	-1.59%	-23.85%	+22.26%
Average Drawdown Average peak-to-trough decline	-2.92%	-8.15%	+5.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	10.54%	-7.41%

Volatility

LCEU.DE vs. ASWA.DE - Volatility Comparison

The current volatility for BNP Paribas Easy Low Carbon 100 Europe PAB UCITS ETF (LCEU.DE) is 4.11%, while HANetf European Green Deal UCITS ETF Acc (ASWA.DE) has a volatility of 7.52%. This indicates that LCEU.DE experiences smaller price fluctuations and is considered to be less risky than ASWA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LCEU.DE	ASWA.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.11%	7.52%	-3.41%
Volatility (6M) Calculated over the trailing 6-month period	10.36%	37.06%	-26.70%
Volatility (1Y) Calculated over the trailing 1-year period	12.77%	33.68%	-20.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.14%	24.72%	-11.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.14%	24.72%	-11.58%

LCEU.DE vs. ASWA.DE - Expense Ratio Comparison

LCEU.DE has a 0.30% expense ratio, which is lower than ASWA.DE's 0.60% expense ratio.

Dividends

LCEU.DE vs. ASWA.DE - Dividend Comparison

Neither LCEU.DE nor ASWA.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LCEU.DE and ASWA.DE in my portfolio?

LCEU.DE and ASWA.DE have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LCEU.DE or ASWA.DE?

On fees, LCEU.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LCEU.DE or ASWA.DE?

LCEU.DE is cheaper with a 0.30% expense ratio, compared with 0.60% for ASWA.DE.

What is the main difference between LCEU.DE and ASWA.DE?

LCEU.DE tracks Low Carbon 100 Europe PAB, while ASWA.DE tracks SGI European Green Deal ESG Screened. They also come from different issuers: BNP Paribas and HANetf. Their fees differ too: 0.30% for LCEU.DE and 0.60% for ASWA.DE.