VALU.DE vs. XESD.DE

Last updated Jun 26, 2026

VALU.DE (BNP Paribas Easy ESG Value Europe UCITS ETF) and XESD.DE (Xtrackers Spanish Equity UCITS ETF) are both Europe Equities funds - VALU.DE tracks the BNP Paribas Value Europe ESG while XESD.DE tracks the Solactive Spain 40. Both are passively managed. Over the past 10 years, VALU.DE returned 8.70%/yr vs 14.01%/yr for XESD.DE. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.

Performance

VALU.DE vs. XESD.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in BNP Paribas Easy ESG Value Europe UCITS ETF (VALU.DE) and Xtrackers Spanish Equity UCITS ETF (XESD.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VALU.DE achieves a 12.64% return, which is significantly lower than XESD.DE's 14.69% return. Over the past 10 years, VALU.DE has underperformed XESD.DE with an annualized return of 8.70%, while XESD.DE has yielded a comparatively higher 14.01% annualized return.

VALU.DE

• 1D: 0.78%
• 1M: 1.79%
• YTD: 12.64%
• 6M: 13.34%
• 1Y: 24.34%
• 3Y*: 18.27%
• 5Y*: 7.97%
• 10Y*: 8.70%

XESD.DE

• 1D: 0.62%
• 1M: 6.78%
• YTD: 14.69%
• 6M: 15.76%
• 1Y: 47.75%
• 3Y*: 32.29%
• 5Y*: 20.35%
• 10Y*: 14.01%

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

VALU.DE vs. XESD.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VALU.DE BNP Paribas Easy ESG Value Europe UCITS ETF	12.64%	23.55%	9.22%	14.94%	-19.32%	23.14%	-12.18%	17.78%	-12.49%	17.81%
XESD.DE Xtrackers Spanish Equity UCITS ETF	14.69%	58.72%	14.57%	26.76%	-1.63%	10.91%	-10.10%	15.69%	-12.39%	12.92%

Correlation

The correlation between VALU.DE and XESD.DE is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jun 7, 2016	0.78

The correlation between VALU.DE and XESD.DE has been stable across timeframes, ranging from 0.75 to 0.78 - a consistent structural relationship.

Return for Risk

VALU.DE vs. XESD.DE — Risk / Return Rank

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

VALU.DE

VALU.DE Risk / Return Rank: 73
VALU.DE Sharpe Ratio Rank: 74
VALU.DE Sortino Ratio Rank: 74
VALU.DE Omega Ratio Rank: 75
VALU.DE Calmar Ratio Rank: 71
VALU.DE Martin Ratio Rank: 69

XESD.DE

XESD.DE Risk / Return Rank: 90
XESD.DE Sharpe Ratio Rank: 92
XESD.DE Sortino Ratio Rank: 91
XESD.DE Omega Ratio Rank: 90
XESD.DE Calmar Ratio Rank: 88
XESD.DE Martin Ratio Rank: 87

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.

VALU.DE vs. XESD.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy ESG Value Europe UCITS ETF (VALU.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.

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.

	VALU.DE	XESD.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.09	2.80	-0.71
Sortino ratio: Return per unit of downside risk	2.92	3.73	-0.81
Omega ratio: Gain probability vs. loss probability	1.39	1.50	-0.11
Calmar ratio: Return relative to maximum drawdown	3.14	4.62	-1.48
Martin ratio: Return relative to average drawdown	11.27	16.31	-5.04

VALU.DE vs. XESD.DE - Sharpe Ratio Comparison

The current VALU.DE Sharpe Ratio is 2.09, which is comparable to the XESD.DE Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of VALU.DE and XESD.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VALU.DE vs. XESD.DE - Drawdown Comparison

The maximum VALU.DE drawdown since its inception was -41.04%, which is greater than XESD.DE's maximum drawdown of -38.76%. Use the drawdown chart below to compare losses from any high point for VALU.DE and XESD.DE.

Drawdown Indicators

	VALU.DE	XESD.DE	Difference
Max Drawdown Largest peak-to-trough decline	-41.04%	-38.76%	-2.28%
Max Drawdown (1Y) Largest decline over 1 year	-7.71%	-10.28%	+2.57%
Max Drawdown (3Y) Largest decline over 3 years	-14.17%	-12.49%	-1.68%
Max Drawdown (5Y) Largest decline over 5 years	-31.19%	-18.55%	-12.64%
Max Drawdown (10Y) Largest decline over 10 years	-41.04%	-38.76%	-2.28%
Current Drawdown Current decline from peak	-0.47%	-0.18%	-0.29%
Average Drawdown Average peak-to-trough decline	-7.71%	-8.46%	+0.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	2.92%	-0.77%

Volatility

VALU.DE vs. XESD.DE - Volatility Comparison

The current volatility for BNP Paribas Easy ESG Value Europe UCITS ETF (VALU.DE) is 3.04%, while Xtrackers Spanish Equity UCITS ETF (XESD.DE) has a volatility of 4.05%. This indicates that VALU.DE experiences smaller price fluctuations and is considered to be less risky than XESD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VALU.DE	XESD.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.04%	4.05%	-1.01%
Volatility (6M) Calculated over the trailing 6-month period	9.45%	14.41%	-4.96%
Volatility (1Y) Calculated over the trailing 1-year period	11.62%	17.06%	-5.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.45%	16.77%	-2.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.81%	18.49%	-2.68%

VALU.DE vs. XESD.DE - Expense Ratio Comparison

Both VALU.DE and XESD.DE have an expense ratio of 0.30%.

Dividends

VALU.DE vs. XESD.DE - Dividend Comparison

VALU.DE has not paid dividends to shareholders, while XESD.DE's dividend yield for the trailing twelve months is around 2.34%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VALU.DE BNP Paribas Easy ESG Value Europe 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%
XESD.DE Xtrackers Spanish Equity UCITS ETF	2.34%	2.43%	3.14%	2.56%	3.98%	1.51%	4.30%	3.35%	4.48%	2.51%	1.14%	0.42%

Frequently Asked Questions

Can I hold both VALU.DE and XESD.DE in my portfolio?

VALU.DE and XESD.DE have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VALU.DE or XESD.DE?

Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VALU.DE or XESD.DE?

VALU.DE and XESD.DE have the same expense ratio: 0.30% per year.

What is the main difference between VALU.DE and XESD.DE?

VALU.DE tracks BNP Paribas Value Europe ESG, while XESD.DE tracks Solactive Spain 40. They also come from different issuers: BNP Paribas and Xtrackers.