XNZN.DE vs. XNZE.DE
XNZN.DE (Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1C) and XNZE.DE (Xtrackers EMU Net Zero Pathway Paris Aligned UCITS ETF 1C) are both Europe Equities funds from DWS - XNZN.DE tracks the MSCI Nordic Countries NR EUR while XNZE.DE tracks the MSCI EMU NR EUR. Both are passively managed. Over the past 3 years, XNZN.DE returned 5.54%/yr vs 11.48%/yr for XNZE.DE. A 0.76 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.
Performance
XNZN.DE vs. XNZE.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 XNZE.DE's 9.92% return.
XNZN.DE
- 1D
- 0.80%
- 1M
- -0.39%
- YTD
- 0.62%
- 6M
- 2.71%
- 1Y
- 1.15%
- 3Y*
- 5.54%
- 5Y*
- —
- 10Y*
- —
XNZE.DE
- 1D
- 0.62%
- 1M
- 4.62%
- YTD
- 9.92%
- 6M
- 10.75%
- 1Y
- 14.11%
- 3Y*
- 11.48%
- 5Y*
- —
- 10Y*
- —
XNZN.DE vs. XNZE.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% |
XNZE.DE Xtrackers EMU Net Zero Pathway Paris Aligned UCITS ETF 1C | 9.92% | 13.33% | 5.47% | 6.77% |
Correlation
The correlation between XNZN.DE and XNZE.DE is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2023 | 0.76 |
The correlation between XNZN.DE and XNZE.DE has been stable across timeframes, ranging from 0.76 to 0.77 - a consistent structural relationship.
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Return for Risk
XNZN.DE vs. XNZE.DE — Risk / Return Rank
XNZN.DE
XNZE.DE
XNZN.DE vs. XNZE.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 EMU Net Zero Pathway Paris Aligned UCITS ETF 1C (XNZE.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 | XNZE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.18 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | 1.25 | -1.14 |
| Martin ratioReturn relative to average drawdown | 0.29 | 4.26 | -3.97 |
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 | XNZE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.09 | 0.94 | -0.85 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.65 | -0.31 |
Drawdowns
XNZN.DE vs. XNZE.DE - Drawdown Comparison
The maximum XNZN.DE drawdown since its inception was -23.90%, which is greater than XNZE.DE's maximum drawdown of -18.68%. Use the drawdown chart below to compare losses from any high point for XNZN.DE and XNZE.DE.
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Drawdown Indicators
| XNZN.DE | XNZE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.90% | -18.68% | -5.22% |
Max Drawdown (1Y)Largest decline over 1 year | -13.08% | -11.49% | -1.59% |
Max Drawdown (3Y)Largest decline over 3 years | -23.90% | -17.36% | -6.54% |
Current DrawdownCurrent decline from peak | -9.13% | -0.34% | -8.79% |
Average DrawdownAverage peak-to-trough decline | -7.13% | -4.16% | -2.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.84% | 3.37% | +1.47% |
Volatility
XNZN.DE vs. XNZE.DE - Volatility Comparison
The current volatility for Xtrackers Nordic Net Zero Pathway Paris Aligned UCITS ETF 1C (XNZN.DE) is 4.52%, while Xtrackers EMU Net Zero Pathway Paris Aligned UCITS ETF 1C (XNZE.DE) has a volatility of 5.15%. This indicates that XNZN.DE experiences smaller price fluctuations and is considered to be less risky than XNZE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XNZN.DE | XNZE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.52% | 5.15% | -0.63% |
Volatility (6M)Calculated over the trailing 6-month period | 12.12% | 12.62% | -0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.38% | 15.33% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.12% | 16.84% | -0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.12% | 16.84% | -0.72% |
XNZN.DE vs. XNZE.DE - Expense Ratio Comparison
Both XNZN.DE and XNZE.DE have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
XNZN.DE vs. XNZE.DE - Dividend Comparison
Neither XNZN.DE nor XNZE.DE has paid dividends to shareholders.
Frequently Asked Questions
XNZN.DE and XNZE.DE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
XNZN.DE and XNZE.DE have the same expense ratio: 0.15% per year.
XNZN.DE tracks MSCI Nordic Countries NR EUR, while XNZE.DE tracks MSCI EMU NR EUR.
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