SP5.PA vs. ESE.PA

Last updated Jun 4, 2026

SP5.PA (Amundi S&P 500 UCITS ETF - Dist EUR) and ESE.PA (BNP Paribas Easy S&P 500 UCITS ETF) are both S&P 500 funds tracking the S&P 500 Index, from Amundi and BNP Paribas respectively. Both are passively managed. Over the past 10 years, SP5.PA returned 15.25%/yr vs 15.17%/yr for ESE.PA. Their correlation of 0.93 suggests significant overlap in exposure. SP5.PA charges 0.05%/yr vs 0.15%/yr for ESE.PA.

Performance

SP5.PA vs. ESE.PA - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Amundi S&P 500 UCITS ETF - Dist EUR (SP5.PA) and BNP Paribas Easy S&P 500 UCITS ETF (ESE.PA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SP5.PA having a 11.76% return and ESE.PA slightly lower at 11.59%. Both investments have delivered pretty close results over the past 10 years, with SP5.PA having a 15.25% annualized return and ESE.PA not far behind at 15.17%.

SP5.PA

• 1D: -0.31%
• 1M: 6.05%
• YTD: 11.76%
• 6M: 11.71%
• 1Y: 25.84%
• 3Y*: 19.29%
• 5Y*: 14.98%
• 10Y*: 15.25%

ESE.PA

• 1D: -0.31%
• 1M: 6.03%
• YTD: 11.59%
• 6M: 11.46%
• 1Y: 25.39%
• 3Y*: 19.01%
• 5Y*: 14.71%
• 10Y*: 15.17%

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

SP5.PA vs. ESE.PA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SP5.PA Amundi S&P 500 UCITS ETF - Dist EUR	11.76%	4.06%	34.08%	22.28%	-13.91%	40.50%	7.97%	33.38%	-0.25%	7.00%
ESE.PA BNP Paribas Easy S&P 500 UCITS ETF	11.59%	3.58%	33.68%	22.35%	-14.10%	40.40%	8.06%	33.39%	-0.04%	7.07%

Correlation

The correlation between SP5.PA and ESE.PA is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jun 11, 2010	0.93

The correlation between SP5.PA and ESE.PA has been stable across timeframes, ranging from 0.93 to 1.00 - a consistent structural relationship.

Return for Risk

SP5.PA vs. ESE.PA — Risk / Return Rank

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

SP5.PA

SP5.PA Risk / Return Rank: 70
SP5.PA Sharpe Ratio Rank: 68
SP5.PA Sortino Ratio Rank: 67
SP5.PA Omega Ratio Rank: 70
SP5.PA Calmar Ratio Rank: 73
SP5.PA Martin Ratio Rank: 70

ESE.PA

ESE.PA Risk / Return Rank: 67
ESE.PA Sharpe Ratio Rank: 65
ESE.PA Sortino Ratio Rank: 64
ESE.PA Omega Ratio Rank: 68
ESE.PA Calmar Ratio Rank: 70
ESE.PA Martin Ratio Rank: 68

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.

SP5.PA vs. ESE.PA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi S&P 500 UCITS ETF - Dist EUR (SP5.PA) and BNP Paribas Easy S&P 500 UCITS ETF (ESE.PA). 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.

	SP5.PA	ESE.PA	Difference
Sharpe ratio Return per unit of total volatility	2.23	2.20	+0.03
Sortino ratio Return per unit of downside risk	3.04	3.01	+0.03
Omega ratio Gain probability vs. loss probability	1.42	1.41	+0.01
Calmar ratio Return relative to maximum drawdown	3.60	3.51	+0.09
Martin ratio Return relative to average drawdown	12.88	12.49	+0.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SP5.PA vs. ESE.PA - Sharpe Ratio Comparison

The current SP5.PA Sharpe Ratio is 2.23, which is comparable to the ESE.PA Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of SP5.PA and ESE.PA, 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

	SP5.PA	ESE.PA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.23	2.20	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.97	0.96	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.93	0.93	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.81	+0.11

Drawdowns

SP5.PA vs. ESE.PA - Drawdown Comparison

The maximum SP5.PA drawdown since its inception was -33.67%, smaller than the maximum ESE.PA drawdown of -36.74%. Use the drawdown chart below to compare losses from any high point for SP5.PA and ESE.PA.

Drawdown Indicators

	SP5.PA	ESE.PA	Difference
Max Drawdown Largest peak-to-trough decline	-33.67%	-36.74%	+3.07%
Max Drawdown (1Y) Largest decline over 1 year	-7.08%	-7.15%	+0.07%
Max Drawdown (3Y) Largest decline over 3 years	-23.28%	-23.28%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	-23.28%	-23.28%	0.00%
Max Drawdown (10Y) Largest decline over 10 years	-33.67%	-33.62%	-0.05%
Current Drawdown Current decline from peak	-0.31%	-0.31%	0.00%
Average Drawdown Average peak-to-trough decline	-4.12%	-4.88%	+0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	2.02%	-0.03%

Volatility

SP5.PA vs. ESE.PA - Volatility Comparison

Amundi S&P 500 UCITS ETF - Dist EUR (SP5.PA) and BNP Paribas Easy S&P 500 UCITS ETF (ESE.PA) have volatilities of 2.68% and 2.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SP5.PA	ESE.PA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.68%	2.69%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	7.52%	7.47%	+0.05%
Volatility (1Y) Calculated over the trailing 1-year period	11.52%	11.46%	+0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.18%	15.12%	+0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.07%	16.10%	-0.03%

SP5.PA vs. ESE.PA - Expense Ratio Comparison

SP5.PA has a 0.05% expense ratio, which is lower than ESE.PA's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SP5.PA vs. ESE.PA - Dividend Comparison

SP5.PA's dividend yield for the trailing twelve months is around 0.89%, while ESE.PA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ESE.PA BNP Paribas Easy S&P 500 UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SP5.PA Amundi S&P 500 UCITS ETF - Dist EUR	0.89%	1.00%	1.20%	1.05%	2.12%	1.09%	1.55%	1.64%	1.93%	1.76%	1.89%	2.03%

Frequently Asked Questions

Can I hold both SP5.PA and ESE.PA in my portfolio?

With a correlation of 1.00, SP5.PA and ESE.PA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, SP5.PA or ESE.PA?

On fees, SP5.PA is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SP5.PA or ESE.PA?

SP5.PA is cheaper with a 0.05% expense ratio, compared with 0.15% for ESE.PA.

What is the main difference between SP5.PA and ESE.PA?

Both ETFs track S&P 500 Index. They also come from different issuers: Amundi and BNP Paribas. Their fees differ too: 0.05% for SP5.PA and 0.15% for ESE.PA.