XESD.DE vs. VLEU.DE

Last updated Jun 5, 2026

XESD.DE (Xtrackers Spanish Equity UCITS ETF) and VLEU.DE (BNP Paribas Easy ESG Low Volatility Europe UCITS ETF) are both Europe Equities funds - XESD.DE tracks the Solactive Spain 40 while VLEU.DE tracks the BNP Paribas Low Vol Europe ESG. Both are passively managed. Over the past 5 years, XESD.DE returned 18.89%/yr vs 7.63%/yr for VLEU.DE. A 0.54 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.

Performance

XESD.DE vs. VLEU.DE - Performance Comparison

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

Returns By Period

In the year-to-date period, XESD.DE achieves a 7.26% return, which is significantly higher than VLEU.DE's 4.90% return.

XESD.DE

• 1D: 0.58%
• 1M: 1.30%
• YTD: 7.26%
• 6M: 11.75%
• 1Y: 34.69%
• 3Y*: 29.40%
• 5Y*: 18.89%
• 10Y*: —

VLEU.DE

• 1D: 0.81%
• 1M: -0.77%
• YTD: 4.90%
• 6M: 6.98%
• 1Y: 6.40%
• 3Y*: 10.05%
• 5Y*: 7.63%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XESD.DE Xtrackers Spanish Equity UCITS ETF	7.26%	58.73%	14.57%	26.73%	-1.59%	10.90%	-10.12%	15.71%	-12.40%	-1.58%
VLEU.DE BNP Paribas Easy ESG Low Volatility Europe UCITS ETF	4.90%	12.78%	10.91%	11.65%	-13.54%	27.36%	-5.16%	25.67%	-3.52%	2.86%

Correlation

The correlation between XESD.DE and VLEU.DE is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Jul 10, 2017	0.54

The correlation between XESD.DE and VLEU.DE shifts across timeframes, from 0.54 (all time) to 0.67 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

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

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

XESD.DE

XESD.DE Risk / Return Rank: 65
XESD.DE Sharpe Ratio Rank: 64
XESD.DE Sortino Ratio Rank: 62
XESD.DE Omega Ratio Rank: 63
XESD.DE Calmar Ratio Rank: 70
XESD.DE Martin Ratio Rank: 66

VLEU.DE

VLEU.DE Risk / Return Rank: 18
VLEU.DE Sharpe Ratio Rank: 18
VLEU.DE Sortino Ratio Rank: 18
VLEU.DE Omega Ratio Rank: 18
VLEU.DE Calmar Ratio Rank: 17
VLEU.DE Martin Ratio Rank: 18

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.

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

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Spanish Equity UCITS ETF (XESD.DE) and BNP Paribas Easy ESG Low Volatility Europe UCITS ETF (VLEU.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.

	XESD.DE	VLEU.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.10	0.55	+1.55
Sortino ratio: Return per unit of downside risk	2.86	0.84	+2.02
Omega ratio: Gain probability vs. loss probability	1.37	1.11	+0.27
Calmar ratio: Return relative to maximum drawdown	3.46	0.62	+2.84
Martin ratio: Return relative to average drawdown	12.05	1.83	+10.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current XESD.DE Sharpe Ratio is 2.10, which is higher than the VLEU.DE Sharpe Ratio of 0.55. The chart below compares the historical Sharpe Ratios of XESD.DE and VLEU.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.

Sharpe Ratios by Period

	XESD.DE	VLEU.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	0.55	+1.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.12	0.69	+0.42
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.76	-0.20

Drawdowns

XESD.DE vs. VLEU.DE - Drawdown Comparison

The maximum XESD.DE drawdown since its inception was -38.77%, which is greater than VLEU.DE's maximum drawdown of -32.22%. Use the drawdown chart below to compare losses from any high point for XESD.DE and VLEU.DE.

Drawdown Indicators

	XESD.DE	VLEU.DE	Difference
Max Drawdown Largest peak-to-trough decline	-38.77%	-32.22%	-6.55%
Max Drawdown (1Y) Largest decline over 1 year	-10.27%	-10.14%	-0.13%
Max Drawdown (3Y) Largest decline over 3 years	-12.49%	-12.56%	+0.07%
Max Drawdown (5Y) Largest decline over 5 years	-18.59%	-19.89%	+1.30%
Current Drawdown Current decline from peak	-0.56%	-4.49%	+3.93%
Average Drawdown Average peak-to-trough decline	-7.38%	-5.37%	-2.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.96%	3.46%	-0.50%

Volatility

XESD.DE vs. VLEU.DE - Volatility Comparison

Xtrackers Spanish Equity UCITS ETF (XESD.DE) has a higher volatility of 4.46% compared to BNP Paribas Easy ESG Low Volatility Europe UCITS ETF (VLEU.DE) at 3.76%. This indicates that XESD.DE's price experiences larger fluctuations and is considered to be riskier than VLEU.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XESD.DE	VLEU.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.46%	3.76%	+0.70%
Volatility (6M) Calculated over the trailing 6-month period	14.06%	9.58%	+4.48%
Volatility (1Y) Calculated over the trailing 1-year period	16.93%	11.54%	+5.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.73%	14.47%	+2.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.81%	16.57%	+2.24%

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

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

Dividends

XESD.DE vs. VLEU.DE - Dividend Comparison

XESD.DE's dividend yield for the trailing twelve months is around 2.50%, while VLEU.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
VLEU.DE BNP Paribas Easy ESG Low Volatility Europe UCITS ETF	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	2.50%	2.43%	3.14%	2.57%	3.98%	1.51%	4.30%	3.35%	4.48%

Frequently Asked Questions

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

XESD.DE and VLEU.DE have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

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

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

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