VLED.DE vs. EMWE.DE
VLED.DE (BNP Paribas Easy ESG Low Volatility Europe UCITS ETF) and EMWE.DE (BNP Paribas Easy MSCI World SRI S-Series PAB 5% Capped UCITS ETF EUR Acc) are both exchange-traded funds - VLED.DE is a Europe Equities fund tracking the BNP Paribas Low Vol Europe ESG, while EMWE.DE is a Global Equities fund tracking the MSCI World SRI S-Series PAB 5% Capped. Both are passively managed. Over the past 5 years, VLED.DE returned 7.61%/yr vs 8.57%/yr for EMWE.DE. A 0.74 correlation means they provide meaningful diversification when combined. VLED.DE charges 0.30%/yr vs 0.25%/yr for EMWE.DE.
Performance
VLED.DE vs. EMWE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VLED.DE achieves a 4.74% return, which is significantly lower than EMWE.DE's 9.24% return.
VLED.DE
- 1D
- 0.71%
- 1M
- 0.89%
- YTD
- 4.74%
- 6M
- 6.73%
- 1Y
- 6.17%
- 3Y*
- 10.02%
- 5Y*
- 7.61%
- 10Y*
- —
EMWE.DE
- 1D
- 0.48%
- 1M
- 5.73%
- YTD
- 9.24%
- 6M
- 10.02%
- 1Y
- 14.00%
- 3Y*
- 10.15%
- 5Y*
- 8.57%
- 10Y*
- —
VLED.DE vs. EMWE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VLED.DE BNP Paribas Easy ESG Low Volatility Europe UCITS ETF | 4.74% | 12.36% | 11.46% | 11.66% | -13.53% | 27.24% | -5.11% | 25.67% | -3.51% | 2.92% |
EMWE.DE BNP Paribas Easy MSCI World SRI S-Series PAB 5% Capped UCITS ETF EUR Acc | 9.24% | 0.19% | 15.43% | 14.90% | -16.11% | 38.30% | 11.27% | 31.39% | -5.44% | 4.98% |
Correlation
The correlation between VLED.DE and EMWE.DE is 0.65, 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 | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2017 | 0.74 |
The correlation between VLED.DE and EMWE.DE shifts across timeframes, from 0.62 (3 years) to 0.74 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VLED.DE vs. EMWE.DE — Risk / Return Rank
VLED.DE
EMWE.DE
VLED.DE vs. EMWE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy ESG Low Volatility Europe UCITS ETF (VLED.DE) and BNP Paribas Easy MSCI World SRI S-Series PAB 5% Capped UCITS ETF EUR Acc (EMWE.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.
| VLED.DE | EMWE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.22 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.60 | 1.69 | -1.09 |
| Martin ratioReturn relative to average drawdown | 1.76 | 6.10 | -4.35 |
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
| VLED.DE | EMWE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.53 | 1.19 | -0.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.61 | 0.59 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.70 | -0.11 |
Drawdowns
VLED.DE vs. EMWE.DE - Drawdown Comparison
The maximum VLED.DE drawdown since its inception was -32.22%, roughly equal to the maximum EMWE.DE drawdown of -31.05%. Use the drawdown chart below to compare losses from any high point for VLED.DE and EMWE.DE.
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Drawdown Indicators
| VLED.DE | EMWE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.22% | -31.05% | -1.17% |
Max Drawdown (1Y)Largest decline over 1 year | -10.23% | -8.26% | -1.97% |
Max Drawdown (3Y)Largest decline over 3 years | -12.51% | -20.00% | +7.49% |
Max Drawdown (5Y)Largest decline over 5 years | -19.88% | -20.79% | +0.91% |
Current DrawdownCurrent decline from peak | -4.64% | 0.00% | -4.64% |
Average DrawdownAverage peak-to-trough decline | -5.04% | -5.28% | +0.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.50% | 2.29% | +1.21% |
Volatility
VLED.DE vs. EMWE.DE - Volatility Comparison
BNP Paribas Easy ESG Low Volatility Europe UCITS ETF (VLED.DE) has a higher volatility of 3.80% compared to BNP Paribas Easy MSCI World SRI S-Series PAB 5% Capped UCITS ETF EUR Acc (EMWE.DE) at 2.93%. This indicates that VLED.DE's price experiences larger fluctuations and is considered to be riskier than EMWE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VLED.DE | EMWE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.80% | 2.93% | +0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 9.70% | 8.57% | +1.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.65% | 11.74% | -0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.30% | 14.46% | -2.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.50% | 15.52% | -2.02% |
VLED.DE vs. EMWE.DE - Expense Ratio Comparison
VLED.DE has a 0.30% expense ratio, which is higher than EMWE.DE's 0.25% expense ratio.
Dividends
VLED.DE vs. EMWE.DE - Dividend Comparison
VLED.DE's dividend yield for the trailing twelve months is around 2.68%, while EMWE.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EMWE.DE BNP Paribas Easy MSCI World SRI S-Series PAB 5% Capped UCITS ETF EUR Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VLED.DE BNP Paribas Easy ESG Low Volatility Europe UCITS ETF | 2.68% | 2.94% | 2.30% | 2.02% | 2.83% | 1.82% | 2.68% | 3.20% | 3.74% |
Frequently Asked Questions
VLED.DE and EMWE.DE have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMWE.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMWE.DE is cheaper with a 0.25% expense ratio, compared with 0.30% for VLED.DE.
VLED.DE is categorized as Europe Equities, while EMWE.DE is Global Equities. VLED.DE tracks BNP Paribas Low Vol Europe ESG, while EMWE.DE tracks MSCI World SRI S-Series PAB 5% Capped. Their fees differ too: 0.30% for VLED.DE and 0.25% for EMWE.DE.
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