PAEEM.PA vs. ETSZ.DE
PAEEM.PA (Amundi PEA Emergent (MSCI Emerging) ESG Transition UCITS ETF Acc) and ETSZ.DE (BNP Paribas Easy STOXX Europe 600 UCITS ETF) are both exchange-traded funds - PAEEM.PA is a Emerging Markets Equities fund tracking the MSCI EM ex-Egypt ESG Broad CTB Select Index, while ETSZ.DE is a Europe Equities fund tracking the STOXX® Europe 600. Both are passively managed. Over the past 5 years, PAEEM.PA returned 7.56%/yr vs 10.05%/yr for ETSZ.DE. A 0.60 correlation means they provide meaningful diversification when combined. PAEEM.PA charges 0.30%/yr vs 0.20%/yr for ETSZ.DE.
Performance
PAEEM.PA vs. ETSZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, PAEEM.PA achieves a 20.72% return, which is significantly higher than ETSZ.DE's 9.93% return.
PAEEM.PA
- 1D
- 1.61%
- 1M
- -8.12%
- 6M
- 14.04%
- YTD
- 20.72%
- 1Y
- 34.46%
- 3Y*
- 18.88%
- 5Y*
- 7.56%
- 10Y*
- —
- ALL TIME*
- 7.87%
ETSZ.DE
- 1D
- -0.33%
- 1M
- 0.67%
- 6M
- 7.24%
- YTD
- 9.93%
- 1Y
- 19.90%
- 3Y*
- 14.12%
- 5Y*
- 10.05%
- 10Y*
- 9.48%
- ALL TIME*
- 8.62%
PAEEM.PA vs. ETSZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PAEEM.PA Amundi PEA Emergent (MSCI Emerging) ESG Transition UCITS ETF Acc | 20.72% | 22.47% | 13.04% | 3.26% | -15.31% | 4.42% | 8.27% | 4.74% |
ETSZ.DE BNP Paribas Easy STOXX Europe 600 UCITS ETF | 9.93% | 20.39% | 8.24% | 15.59% | -10.31% | 24.87% | -1.48% | 9.41% |
Correlation
The correlation between PAEEM.PA and ETSZ.DE is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Apr 25, 2019 | 0.60 |
The correlation between PAEEM.PA and ETSZ.DE has been stable across timeframes, ranging from 0.53 to 0.60 - a consistent structural relationship.
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Return for Risk
PAEEM.PA vs. ETSZ.DE — Risk / Return Rank
PAEEM.PA
ETSZ.DE
PAEEM.PA vs. ETSZ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi PEA Emergent (MSCI Emerging) ESG Transition UCITS ETF Acc (PAEEM.PA) and BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PAEEM.PA | ETSZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.29 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | 2.10 | +0.88 |
| Martin ratioReturn relative to average drawdown | 9.35 | 8.06 | +1.29 |
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Drawdowns
PAEEM.PA vs. ETSZ.DE - Drawdown Comparison
The maximum PAEEM.PA drawdown since its inception was -31.94%, smaller than the maximum ETSZ.DE drawdown of -35.54%. Use the drawdown chart below to compare losses from any high point for PAEEM.PA and ETSZ.DE.
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Drawdown Indicators
| PAEEM.PA | ETSZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.94% | -35.54% | +3.60% |
Max Drawdown (1Y)Largest decline over 1 year | -11.39% | -9.41% | -1.98% |
Max Drawdown (3Y)Largest decline over 3 years | -18.68% | -16.34% | -2.34% |
Max Drawdown (5Y)Largest decline over 5 years | -22.76% | -20.50% | -2.26% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.54% | — |
Current DrawdownCurrent decline from peak | -9.96% | -2.00% | -7.96% |
Average DrawdownAverage peak-to-trough decline | -10.62% | -5.32% | -5.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.66% | 2.46% | +1.20% |
Volatility
PAEEM.PA vs. ETSZ.DE - Volatility Comparison
Amundi PEA Emergent (MSCI Emerging) ESG Transition UCITS ETF Acc (PAEEM.PA) has a higher volatility of 9.04% compared to BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.DE) at 3.10%. This indicates that PAEEM.PA's price experiences larger fluctuations and is considered to be riskier than ETSZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAEEM.PA | ETSZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.04% | 3.10% | +5.94% |
Volatility (6M)Calculated over the trailing 6-month period | 18.05% | 10.95% | +7.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.37% | 12.98% | +7.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.55% | 14.36% | +3.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.49% | 15.18% | +4.31% |
PAEEM.PA vs. ETSZ.DE - Expense Ratio Comparison
PAEEM.PA has a 0.30% expense ratio, which is higher than ETSZ.DE's 0.20% expense ratio.
Dividends
PAEEM.PA vs. ETSZ.DE - Dividend Comparison
Neither PAEEM.PA nor ETSZ.DE has paid dividends to shareholders.
Frequently Asked Questions
PAEEM.PA and ETSZ.DE have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ETSZ.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETSZ.DE is cheaper with a 0.20% expense ratio, compared with 0.30% for PAEEM.PA.
PAEEM.PA is categorized as Emerging Markets Equities, while ETSZ.DE is Europe Equities. PAEEM.PA tracks MSCI EM ex-Egypt ESG Broad CTB Select Index, while ETSZ.DE tracks STOXX® Europe 600. They also come from different issuers: Amundi and BNP Paribas. Their fees differ too: 0.30% for PAEEM.PA and 0.20% for ETSZ.DE.
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