LCEU.DE vs. VLEU.DE
LCEU.DE (BNP Paribas Easy Low Carbon 100 Europe PAB UCITS ETF) and VLEU.DE (BNP Paribas Easy ESG Low Volatility Europe UCITS ETF) are both Europe Equities funds from BNP Paribas - LCEU.DE tracks the Low Carbon 100 Europe PAB while VLEU.DE tracks the BNP Paribas Low Vol Europe ESG. Both are passively managed. Over the past 3 years, LCEU.DE returned 7.74%/yr vs 10.05%/yr for VLEU.DE. A 0.71 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.
Performance
LCEU.DE vs. VLEU.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with LCEU.DE having a 4.87% return and VLEU.DE slightly higher at 4.90%.
LCEU.DE
- 1D
- 0.90%
- 1M
- 3.09%
- YTD
- 4.87%
- 6M
- 7.28%
- 1Y
- 9.14%
- 3Y*
- 7.74%
- 5Y*
- —
- 10Y*
- —
VLEU.DE
- 1D
- 0.81%
- 1M
- 0.97%
- YTD
- 4.90%
- 6M
- 6.83%
- 1Y
- 6.35%
- 3Y*
- 10.05%
- 5Y*
- 7.63%
- 10Y*
- —
LCEU.DE vs. VLEU.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
LCEU.DE BNP Paribas Easy Low Carbon 100 Europe PAB UCITS ETF | 4.87% | 9.84% | 5.83% | 14.59% | 2.39% |
VLEU.DE BNP Paribas Easy ESG Low Volatility Europe UCITS ETF | 4.90% | 12.78% | 10.91% | 11.65% | -0.64% |
Correlation
The correlation between LCEU.DE and VLEU.DE is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2022 | 0.71 |
The correlation between LCEU.DE and VLEU.DE shifts across timeframes, from 0.71 (all time) to 0.90 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LCEU.DE vs. VLEU.DE — Risk / Return Rank
LCEU.DE
VLEU.DE
LCEU.DE vs. VLEU.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 BNP Paribas Easy ESG Low Volatility Europe UCITS ETF (VLEU.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 | VLEU.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.11 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | 0.62 | +0.25 |
| Martin ratioReturn relative to average drawdown | 2.91 | 1.83 | +1.08 |
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
| LCEU.DE | VLEU.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.71 | 0.55 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.69 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.73 | 0.76 | -0.03 |
Drawdowns
LCEU.DE vs. VLEU.DE - Drawdown Comparison
The maximum LCEU.DE drawdown since its inception was -16.38%, smaller than the maximum VLEU.DE drawdown of -32.22%. Use the drawdown chart below to compare losses from any high point for LCEU.DE and VLEU.DE.
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Drawdown Indicators
| LCEU.DE | VLEU.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.38% | -32.22% | +15.84% |
Max Drawdown (1Y)Largest decline over 1 year | -10.37% | -10.14% | -0.23% |
Max Drawdown (3Y)Largest decline over 3 years | -16.38% | -12.56% | -3.82% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.89% | — |
Current DrawdownCurrent decline from peak | -1.59% | -4.49% | +2.90% |
Average DrawdownAverage peak-to-trough decline | -2.92% | -5.37% | +2.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.13% | 3.46% | -0.33% |
Volatility
LCEU.DE vs. VLEU.DE - Volatility Comparison
BNP Paribas Easy Low Carbon 100 Europe PAB UCITS ETF (LCEU.DE) has a higher volatility of 4.11% compared to BNP Paribas Easy ESG Low Volatility Europe UCITS ETF (VLEU.DE) at 3.76%. This indicates that LCEU.DE's price experiences larger fluctuations and is considered to be riskier than VLEU.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LCEU.DE | VLEU.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.11% | 3.76% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 10.36% | 9.58% | +0.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.77% | 11.54% | +1.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.14% | 14.47% | -1.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.14% | 16.57% | -3.43% |
LCEU.DE vs. VLEU.DE - Expense Ratio Comparison
Both LCEU.DE and VLEU.DE have an expense ratio of 0.30%.
Dividends
LCEU.DE vs. VLEU.DE - Dividend Comparison
Neither LCEU.DE nor VLEU.DE has paid dividends to shareholders.
Frequently Asked Questions
LCEU.DE and VLEU.DE have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
LCEU.DE and VLEU.DE have the same expense ratio: 0.30% per year.
LCEU.DE tracks Low Carbon 100 Europe PAB, while VLEU.DE tracks BNP Paribas Low Vol Europe ESG.
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