XNZN.DE vs. XESD.DE
XNZN.DE (Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1C) and XESD.DE (Xtrackers Spanish Equity UCITS ETF) are both Europe Equities funds - XNZN.DE tracks the MSCI Nordic Countries NR EUR while XESD.DE tracks the Solactive Spain 40. Both are passively managed. Over the past 3 years, XNZN.DE returned 5.54%/yr vs 29.40%/yr for XESD.DE. A 0.58 correlation means they provide meaningful diversification when combined. XNZN.DE charges 0.15%/yr vs 0.30%/yr for XESD.DE.
Performance
XNZN.DE vs. XESD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XNZN.DE achieves a 0.62% return, which is significantly lower than XESD.DE's 7.26% return.
XNZN.DE
- 1D
- 0.80%
- 1M
- -0.39%
- YTD
- 0.62%
- 6M
- 2.71%
- 1Y
- 1.15%
- 3Y*
- 5.54%
- 5Y*
- —
- 10Y*
- —
XESD.DE
- 1D
- 0.58%
- 1M
- 1.30%
- YTD
- 7.26%
- 6M
- 11.75%
- 1Y
- 34.69%
- 3Y*
- 29.40%
- 5Y*
- 18.89%
- 10Y*
- —
XNZN.DE vs. XESD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
XNZN.DE Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1C | 0.62% | 1.04% | 3.46% | 12.19% |
XESD.DE Xtrackers Spanish Equity UCITS ETF | 7.26% | 58.73% | 14.57% | 11.63% |
Correlation
The correlation between XNZN.DE and XESD.DE is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2023 | 0.58 |
The correlation between XNZN.DE and XESD.DE has been stable across timeframes, ranging from 0.58 to 0.58 - a consistent structural relationship.
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Return for Risk
XNZN.DE vs. XESD.DE — Risk / Return Rank
XNZN.DE
XESD.DE
XNZN.DE vs. XESD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1C (XNZN.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.
| XNZN.DE | XESD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.01 | ||
| Sortino ratioReturn per unit of downside risk | -2.63 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.37 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | 3.46 | -3.36 |
| Martin ratioReturn relative to average drawdown | 0.29 | 12.05 | -11.76 |
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
| XNZN.DE | XESD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.09 | 2.10 | -2.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.12 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.55 | -0.21 |
Drawdowns
XNZN.DE vs. XESD.DE - Drawdown Comparison
The maximum XNZN.DE drawdown since its inception was -23.90%, smaller than the maximum XESD.DE drawdown of -38.77%. Use the drawdown chart below to compare losses from any high point for XNZN.DE and XESD.DE.
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Drawdown Indicators
| XNZN.DE | XESD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.90% | -38.77% | +14.87% |
Max Drawdown (1Y)Largest decline over 1 year | -13.08% | -10.27% | -2.81% |
Max Drawdown (3Y)Largest decline over 3 years | -23.90% | -12.49% | -11.41% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.59% | — |
Current DrawdownCurrent decline from peak | -9.13% | -0.56% | -8.57% |
Average DrawdownAverage peak-to-trough decline | -7.13% | -7.38% | +0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.84% | 2.96% | +1.88% |
Volatility
XNZN.DE vs. XESD.DE - Volatility Comparison
Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1C (XNZN.DE) and Xtrackers Spanish Equity UCITS ETF (XESD.DE) have volatilities of 4.52% and 4.46%, 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
| XNZN.DE | XESD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.52% | 4.46% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 12.12% | 14.06% | -1.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.38% | 16.93% | -1.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.12% | 16.73% | -0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.12% | 18.81% | -2.69% |
XNZN.DE vs. XESD.DE - Expense Ratio Comparison
XNZN.DE has a 0.15% expense ratio, which is lower than XESD.DE's 0.30% expense ratio.
Dividends
XNZN.DE vs. XESD.DE - Dividend Comparison
XNZN.DE has not paid dividends to shareholders, while XESD.DE's dividend yield for the trailing twelve months is around 2.50%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
XNZN.DE Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1C | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XNZN.DE and XESD.DE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XNZN.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XNZN.DE is cheaper with a 0.15% expense ratio, compared with 0.30% for XESD.DE.
XNZN.DE tracks MSCI Nordic Countries NR EUR, while XESD.DE tracks Solactive Spain 40. They also come from different issuers: DWS and Xtrackers. Their fees differ too: 0.15% for XNZN.DE and 0.30% for XESD.DE.
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