OP2E.DE vs. XESD.DE
OP2E.DE (Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR)) and XESD.DE (Xtrackers Spanish Equity UCITS ETF) are both Europe Equities funds - OP2E.DE tracks the Bloomberg PAB Eurozone DM Large & Mid Cap while XESD.DE tracks the Solactive Spain 40. Both are passively managed. Over the past 3 years, OP2E.DE returned 11.48%/yr vs 29.40%/yr for XESD.DE. A 0.76 correlation means they provide meaningful diversification when combined. OP2E.DE charges 0.17%/yr vs 0.30%/yr for XESD.DE.
Performance
OP2E.DE vs. XESD.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with OP2E.DE having a 6.95% return and XESD.DE slightly higher at 7.26%.
OP2E.DE
- 1D
- 0.77%
- 1M
- 6.48%
- YTD
- 6.95%
- 6M
- 8.21%
- 1Y
- 12.90%
- 3Y*
- 11.48%
- 5Y*
- —
- 10Y*
- —
XESD.DE
- 1D
- 0.58%
- 1M
- 3.65%
- YTD
- 7.26%
- 6M
- 11.32%
- 1Y
- 35.71%
- 3Y*
- 29.40%
- 5Y*
- 18.89%
- 10Y*
- —
OP2E.DE vs. XESD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
OP2E.DE Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR) | 6.95% | 15.46% | 7.37% | 19.25% | 0.85% |
XESD.DE Xtrackers Spanish Equity UCITS ETF | 7.26% | 58.73% | 14.57% | 26.73% | 1.07% |
Correlation
The correlation between OP2E.DE and XESD.DE is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2022 | 0.76 |
The correlation between OP2E.DE and XESD.DE has been stable across timeframes, ranging from 0.74 to 0.79 - a consistent structural relationship.
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Return for Risk
OP2E.DE vs. XESD.DE — Risk / Return Rank
OP2E.DE
XESD.DE
OP2E.DE vs. XESD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR) (OP2E.DE) and Xtrackers Spanish Equity UCITS ETF (XESD.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.
| OP2E.DE | XESD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.24 | ||
| Sortino ratioReturn per unit of downside risk | -1.51 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.37 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 3.46 | -2.38 |
| Martin ratioReturn relative to average drawdown | 3.64 | 12.05 | -8.41 |
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
| OP2E.DE | XESD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 2.10 | -1.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.12 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.55 | +0.31 |
Drawdowns
OP2E.DE vs. XESD.DE - Drawdown Comparison
The maximum OP2E.DE drawdown since its inception was -16.56%, smaller than the maximum XESD.DE drawdown of -38.77%. Use the drawdown chart below to compare losses from any high point for OP2E.DE and XESD.DE.
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Drawdown Indicators
| OP2E.DE | XESD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.56% | -38.77% | +22.21% |
Max Drawdown (1Y)Largest decline over 1 year | -11.92% | -10.27% | -1.65% |
Max Drawdown (3Y)Largest decline over 3 years | -16.56% | -12.49% | -4.07% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.59% | — |
Current DrawdownCurrent decline from peak | -0.25% | -0.56% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -2.85% | -7.38% | +4.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 2.96% | +0.57% |
Volatility
OP2E.DE vs. XESD.DE - Volatility Comparison
Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR) (OP2E.DE) has a higher volatility of 4.94% compared to Xtrackers Spanish Equity UCITS ETF (XESD.DE) at 4.46%. This indicates that OP2E.DE's price experiences larger fluctuations and is considered to be riskier than XESD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| OP2E.DE | XESD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 4.46% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 12.42% | 14.06% | -1.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.98% | 16.93% | -1.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.18% | 16.73% | -1.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.18% | 18.81% | -3.63% |
OP2E.DE vs. XESD.DE - Expense Ratio Comparison
OP2E.DE has a 0.17% expense ratio, which is lower than XESD.DE's 0.30% expense ratio.
Dividends
OP2E.DE vs. XESD.DE - Dividend Comparison
OP2E.DE has not paid dividends to shareholders, while XESD.DE's dividend yield for the trailing twelve months is around 2.50%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
OP2E.DE Ossiam Bloomberg Eurozone PAB NR UCITS ETF (EUR) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XESD.DE Xtrackers Spanish Equity UCITS ETF | 2.50% | 2.43% | 3.14% | 2.57% | 3.98% | 1.51% | 4.30% | 3.35% | 4.48% |
Frequently Asked Questions
OP2E.DE and XESD.DE have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, OP2E.DE is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
OP2E.DE is cheaper with a 0.17% expense ratio, compared with 0.30% for XESD.DE.
OP2E.DE tracks Bloomberg PAB Eurozone DM Large & Mid Cap, while XESD.DE tracks Solactive Spain 40. They also come from different issuers: Natixis and Xtrackers. Their fees differ too: 0.17% for OP2E.DE and 0.30% for XESD.DE.
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