LCEU.DE vs. XESP.DE
LCEU.DE (BNP Paribas Easy Low Carbon 100 Europe PAB UCITS ETF) and XESP.DE (Xtrackers Spanish Equity UCITS ETF) are both Europe Equities funds - LCEU.DE tracks the Low Carbon 100 Europe PAB while XESP.DE tracks the Solactive Spain 40. Both are passively managed. Over the past 3 years, LCEU.DE returned 7.74%/yr vs 29.44%/yr for XESP.DE. A 0.71 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.
Performance
LCEU.DE vs. XESP.DE - Performance Comparison
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Returns By Period
In the year-to-date period, LCEU.DE achieves a 4.87% return, which is significantly lower than XESP.DE's 7.33% return.
LCEU.DE
- 1D
- 0.90%
- 1M
- 3.09%
- YTD
- 4.87%
- 6M
- 7.28%
- 1Y
- 9.14%
- 3Y*
- 7.74%
- 5Y*
- —
- 10Y*
- —
XESP.DE
- 1D
- 0.58%
- 1M
- 3.73%
- YTD
- 7.33%
- 6M
- 11.53%
- 1Y
- 35.86%
- 3Y*
- 29.44%
- 5Y*
- 18.91%
- 10Y*
- —
LCEU.DE vs. XESP.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% |
XESP.DE Xtrackers Spanish Equity UCITS ETF | 7.33% | 58.64% | 14.65% | 26.79% | 5.56% |
Correlation
The correlation between LCEU.DE and XESP.DE is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2022 | 0.71 |
The correlation between LCEU.DE and XESP.DE has been stable across timeframes, ranging from 0.70 to 0.74 - a consistent structural relationship.
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Return for Risk
LCEU.DE vs. XESP.DE — Risk / Return Rank
LCEU.DE
XESP.DE
LCEU.DE vs. XESP.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 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.
| LCEU.DE | XESP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.40 | ||
| Sortino ratioReturn per unit of downside risk | -1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.38 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | 3.51 | -2.63 |
| Martin ratioReturn relative to average drawdown | 2.91 | 12.31 | -9.39 |
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 | XESP.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.71 | 2.12 | -1.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.12 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.73 | 0.55 | +0.18 |
Drawdowns
LCEU.DE vs. XESP.DE - Drawdown Comparison
The maximum LCEU.DE drawdown since its inception was -16.38%, smaller than the maximum XESP.DE drawdown of -39.02%. Use the drawdown chart below to compare losses from any high point for LCEU.DE and XESP.DE.
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Drawdown Indicators
| LCEU.DE | XESP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.38% | -39.02% | +22.64% |
Max Drawdown (1Y)Largest decline over 1 year | -10.37% | -10.17% | -0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -16.38% | -12.93% | -3.45% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.59% | — |
Current DrawdownCurrent decline from peak | -1.59% | -0.54% | -1.05% |
Average DrawdownAverage peak-to-trough decline | -2.92% | -7.37% | +4.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.13% | 2.91% | +0.22% |
Volatility
LCEU.DE vs. XESP.DE - Volatility Comparison
The current volatility for BNP Paribas Easy Low Carbon 100 Europe PAB UCITS ETF (LCEU.DE) is 4.11%, while Xtrackers Spanish Equity UCITS ETF (XESP.DE) has a volatility of 4.48%. This indicates that LCEU.DE experiences smaller price fluctuations and is considered to be less risky 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
| LCEU.DE | XESP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.11% | 4.48% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 10.36% | 14.04% | -3.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.77% | 16.86% | -4.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.14% | 16.68% | -3.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.14% | 18.78% | -5.64% |
LCEU.DE vs. XESP.DE - Expense Ratio Comparison
Both LCEU.DE and XESP.DE have an expense ratio of 0.30%.
Dividends
LCEU.DE vs. XESP.DE - Dividend Comparison
Neither LCEU.DE nor XESP.DE has paid dividends to shareholders.
Frequently Asked Questions
LCEU.DE and XESP.DE have a correlation of 0.74, 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 XESP.DE have the same expense ratio: 0.30% per year.
LCEU.DE tracks Low Carbon 100 Europe PAB, while XESP.DE tracks Solactive Spain 40. They also come from different issuers: BNP Paribas and Xtrackers.
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