XESD.DE vs. AMES.DE
XESD.DE (Xtrackers Spanish Equity UCITS ETF) and AMES.DE (Amundi ETF MSCI Spain UCITS ETF EUR) are both Europe Equities funds - XESD.DE tracks the Solactive Spain 40 while AMES.DE tracks the MSCI Spain. Both are passively managed. Over the past 10 years, XESD.DE returned 14.01%/yr vs 13.44%/yr for AMES.DE. With a 0.98 correlation, they move nearly in lockstep. XESD.DE charges 0.30%/yr vs 0.25%/yr for AMES.DE.
Performance
XESD.DE vs. AMES.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with XESD.DE having a 14.69% return and AMES.DE slightly lower at 14.53%. Both investments have delivered pretty close results over the past 10 years, with XESD.DE having a 14.01% annualized return and AMES.DE not far behind at 13.44%.
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%
AMES.DE
- 1D
- 0.72%
- 1M
- 7.06%
- YTD
- 14.53%
- 6M
- 15.44%
- 1Y
- 46.37%
- 3Y*
- 32.90%
- 5Y*
- 20.69%
- 10Y*
- 13.44%
XESD.DE vs. AMES.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
AMES.DE Amundi ETF MSCI Spain UCITS ETF EUR | 14.53% | 55.41% | 19.00% | 26.86% | -0.71% | 6.98% | -12.87% | 15.76% | -12.77% | 11.84% |
Correlation
The correlation between XESD.DE and AMES.DE is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2013 | 0.98 |
The correlation between XESD.DE and AMES.DE has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
XESD.DE vs. AMES.DE — Risk / Return Rank
XESD.DE
AMES.DE
XESD.DE vs. AMES.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Spanish Equity UCITS ETF (XESD.DE) and Amundi ETF MSCI Spain UCITS ETF EUR (AMES.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.
| XESD.DE | AMES.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.50 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.62 | 4.64 | -0.01 |
| Martin ratioReturn relative to average drawdown | 16.31 | 16.40 | -0.08 |
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Drawdowns
XESD.DE vs. AMES.DE - Drawdown Comparison
The maximum XESD.DE drawdown since its inception was -38.76%, smaller than the maximum AMES.DE drawdown of -40.98%. Use the drawdown chart below to compare losses from any high point for XESD.DE and AMES.DE.
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Drawdown Indicators
| XESD.DE | AMES.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.76% | -40.98% | +2.22% |
Max Drawdown (1Y)Largest decline over 1 year | -10.28% | -9.95% | -0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -12.49% | -12.58% | +0.09% |
Max Drawdown (5Y)Largest decline over 5 years | -18.55% | -17.77% | -0.78% |
Max Drawdown (10Y)Largest decline over 10 years | -38.76% | -40.98% | +2.22% |
Current DrawdownCurrent decline from peak | -0.18% | -0.10% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -8.46% | -10.09% | +1.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.92% | 2.82% | +0.10% |
Volatility
XESD.DE vs. AMES.DE - Volatility Comparison
Xtrackers Spanish Equity UCITS ETF (XESD.DE) and Amundi ETF MSCI Spain UCITS ETF EUR (AMES.DE) have volatilities of 4.05% and 4.04%, 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.
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Volatility by Period
| XESD.DE | AMES.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.05% | 4.04% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 14.41% | 13.99% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.06% | 16.47% | +0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.77% | 16.97% | -0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.49% | 18.42% | +0.07% |
XESD.DE vs. AMES.DE - Expense Ratio Comparison
XESD.DE has a 0.30% expense ratio, which is higher than AMES.DE's 0.25% expense ratio.
Dividends
XESD.DE vs. AMES.DE - Dividend Comparison
XESD.DE's dividend yield for the trailing twelve months is around 2.34%, while AMES.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMES.DE Amundi ETF MSCI Spain UCITS ETF EUR | 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
With a correlation of 0.98, XESD.DE and AMES.DE 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.
On fees, AMES.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AMES.DE is cheaper with a 0.25% expense ratio, compared with 0.30% for XESD.DE.
XESD.DE tracks Solactive Spain 40, while AMES.DE tracks MSCI Spain. They also come from different issuers: Xtrackers and Amundi. Their fees differ too: 0.30% for XESD.DE and 0.25% for AMES.DE.
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