VLED.DE vs. ETSZ.DE
VLED.DE (BNP Paribas Easy ESG Low Volatility Europe UCITS ETF) and ETSZ.DE (BNP Paribas Easy STOXX Europe 600 UCITS ETF) are both Europe Equities funds from BNP Paribas - VLED.DE tracks the BNP Paribas Low Vol Europe ESG while ETSZ.DE tracks the STOXX® Europe 600. Both are passively managed. Over the past 5 years, VLED.DE returned 7.61%/yr vs 9.62%/yr for ETSZ.DE. Their correlation of 0.90 suggests significant overlap in exposure. VLED.DE charges 0.30%/yr vs 0.20%/yr for ETSZ.DE.
Performance
VLED.DE vs. ETSZ.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 ETSZ.DE's 7.24% 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*
- —
ETSZ.DE
- 1D
- 0.59%
- 1M
- 3.00%
- YTD
- 7.24%
- 6M
- 9.76%
- 1Y
- 16.19%
- 3Y*
- 13.72%
- 5Y*
- 9.62%
- 10Y*
- 9.16%
VLED.DE vs. ETSZ.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% | 9.99% |
ETSZ.DE BNP Paribas Easy STOXX Europe 600 UCITS ETF | 7.24% | 20.43% | 8.21% | 15.61% | -10.31% | 24.89% | -1.49% | 28.86% | -11.18% | 8.06% |
Correlation
The correlation between VLED.DE and ETSZ.DE is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2017 | 0.90 |
The correlation between VLED.DE and ETSZ.DE has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.
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Return for Risk
VLED.DE vs. ETSZ.DE — Risk / Return Rank
VLED.DE
ETSZ.DE
VLED.DE vs. ETSZ.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 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.
| VLED.DE | ETSZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.24 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.60 | 1.72 | -1.12 |
| Martin ratioReturn relative to average drawdown | 1.76 | 6.45 | -4.69 |
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 | ETSZ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.53 | 1.26 | -0.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.61 | 0.66 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.52 | +0.07 |
Drawdowns
VLED.DE vs. ETSZ.DE - Drawdown Comparison
The maximum VLED.DE drawdown since its inception was -32.22%, smaller than the maximum ETSZ.DE drawdown of -35.51%. Use the drawdown chart below to compare losses from any high point for VLED.DE and ETSZ.DE.
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Drawdown Indicators
| VLED.DE | ETSZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.22% | -35.51% | +3.29% |
Max Drawdown (1Y)Largest decline over 1 year | -10.23% | -9.39% | -0.84% |
Max Drawdown (3Y)Largest decline over 3 years | -12.51% | -16.35% | +3.84% |
Max Drawdown (5Y)Largest decline over 5 years | -19.88% | -20.55% | +0.67% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.51% | — |
Current DrawdownCurrent decline from peak | -4.64% | -1.70% | -2.94% |
Average DrawdownAverage peak-to-trough decline | -5.04% | -5.41% | +0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.50% | 2.51% | +0.99% |
Volatility
VLED.DE vs. ETSZ.DE - Volatility Comparison
The current volatility for BNP Paribas Easy ESG Low Volatility Europe UCITS ETF (VLED.DE) is 3.80%, while BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.DE) has a volatility of 4.34%. This indicates that VLED.DE experiences smaller price fluctuations and is considered to be less risky 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
| VLED.DE | ETSZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.80% | 4.34% | -0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 9.70% | 10.64% | -0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.65% | 12.84% | -1.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.30% | 14.39% | -2.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.50% | 15.54% | -2.04% |
VLED.DE vs. ETSZ.DE - Expense Ratio Comparison
VLED.DE has a 0.30% expense ratio, which is higher than ETSZ.DE's 0.20% expense ratio.
Dividends
VLED.DE vs. ETSZ.DE - Dividend Comparison
VLED.DE's dividend yield for the trailing twelve months is around 2.68%, while ETSZ.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ETSZ.DE BNP Paribas Easy STOXX Europe 600 UCITS ETF | 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 ETSZ.DE have a correlation of 0.87, 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 VLED.DE.
VLED.DE tracks BNP Paribas Low Vol Europe ESG, while ETSZ.DE tracks STOXX® Europe 600. Their fees differ too: 0.30% for VLED.DE and 0.20% for ETSZ.DE.
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