A41BTT
The smart alternative to easy-access savings.
Interest on a par with easy-access savings – without chasing teaser rates, switching accounts or hitting a deposit cap. The BNP Paribas Easy € Overnight ETF tracks €STR, the euro overnight rate, and can be bought and sold on any trading day.
- WKN A41BTT
- ISIN LU3025345516
- LSE CSGB GBP
- LSE CSHE EUR
Last updated: 06/11/2026
What is A41BTT? #
A41BTT is the WKN (German securities code) of the BNP Paribas Easy € Overnight UCITS ETF (Capitalisation share class) from BNP Paribas Asset Management. This money market ETF tracks the Solactive €STR Overnight Total Return Index – in other words, an investment that earns interest every day at €STR, the rate at which banks in the euro area lend each other money overnight.
The interest is continuously reinvested, so the ETF’s price rises almost as steadily as a savings balance – with no stock-market rollercoaster.
- WKN
- A41BTT
- ISIN
- LU3025345516
- London tickers
- CSGB (GBP) · CSHE (EUR)
- Ongoing charges
- 0.10% p.a.
- Index
- Solactive €STR Overnight TR
- Replication
- synthetic (swap)
- Distribution policy
- accumulating
- Risk class
- 1 of 7 (lowest)
- Fund domicile
- Luxembourg
- Launch date
- 17 June 2025
- Fund size
- around €2.1bn (whole fund, of which around €1bn in this share class; Nov 2026)
- Provider
- BNP Paribas Asset Management
What return does A41BTT deliver? #
How much A41BTT earns depends on €STR. The rate currently stands at 2.439% (as of 29/10/2026).
€STR is set afresh on every banking business day and closely follows the European Central Bank’s interest rate decisions. If the ECB raises rates, A41BTT’s return rises too – if it cuts them, the return falls. The ongoing charges of 0.10% a year are deducted directly within the fund.
Unlike with an easy-access savings account, you don’t have to do anything: the rate adjusts automatically, without you having to switch banks or wait for the next new-customer offer.
Good to know: €STR can also fall – between 2019 and 2022 it was even negative. In that case A41BTT would also have lost a little value. Most of the time, though, money market ETFs move very steadily with minimal fluctuations.
A41BTT is a euro investment: it earns the euro overnight rate €STR, not the sterling rate SONIA. Even on the sterling line (CSGB), your return in pounds moves with the EUR/GBP exchange rate – see CSGB or CSHE?
Past performance compared #
A41BTT has only existed since June 2025. Compared with the well-known DBX0AN from Xtrackers, it has done better so far:
| 1 year | Year to date | |
|---|---|---|
| A41BTT | +2.48% | +2.07% |
| DBX0AN | +2.11% | +1.76% |
As of 31/10/2026, source: justETF. The lead comes from the swap structure: the banks the fund swaps with currently pay it a premium over €STR. This premium is not guaranteed, and the lead has recently narrowed. Past performance is not a reliable indicator of future results.
Pros and cons #
A41BTT isn’t an easy-access savings account – but in many respects it’s the more convenient option. Here’s an honest comparison.
In its favour #
- Fair interest for everyone No difference between new and existing customers: A41BTT tracks the daily €STR.
- No more rate-chasing No switching accounts every few months, no new account openings, no bonus rate that expires after a short time.
- No deposit cap Bonus rates often only apply up to a ceiling. You can buy A41BTT in virtually any amount.
- Everything in one account Your cash reserve sits right next to your other investments – ideal for parking money or rebalancing.
- Very low volatility Risk class 1 of 7 – the lowest on the scale.
What you should know #
- No deposit protection Bank deposits in the UK are protected by the Financial Services Compensation Scheme (FSCS); ETFs are not. Instead, the fund’s assets are ring-fenced – more under Safety.
- Trading costs Depending on your broker, you pay trading fees when buying and selling, and the spread also costs you a little return.
- Not instantly available After you sell, it usually takes two banking business days before you can withdraw the money.
- Swap structure The ETF holds a substitute basket (mainly equities) and swaps its return for the €STR return. Counterparty risk is limited by law.
A41BTT or easy-access savings? #
Both are suitable for parking money short term with little volatility. The differences are in the detail.
| A41BTT | Easy-access savings account | |
|---|---|---|
| Interest | €STR (currently 2.439%), minus 0.10% TER; at present plus a swap premium (not guaranteed) | set by the bank, often only attractive for new customers |
| Rate changes | automatic, every banking business day | at the bank’s discretion |
| Maximum amount | none | bonus rate often capped |
| Protection | ring-fenced fund assets, no deposit protection | statutory deposit protection (FSCS) |
| Access | can be sold on any trading day, credited after approx. 2 days | instant |
| Costs | TER, trading fee, spread | usually none |
| Effort | buy once, done | switch regularly for the best rates |
And what about the interest your broker pays on uninvested cash? See the comparison
What does A41BTT cost? #
The ongoing charges (TER) are 0.10% a year. They are taken automatically from the fund’s assets – so you won’t see them as a separate transaction; they are already reflected in the price. In the first twelve months after launch, a reduced introductory TER of 0.05% applied.
On top of that come your broker’s trading fees when you buy and sell, plus the trading venue’s spread. For larger amounts these costs hardly matter; for small amounts and very short holding periods they do.
Costs at a glance #
- 0.10% TER a year On €10,000 that’s about €10 a year.
- Trading fee Depending on the broker, €0 to a few euros per purchase or sale.
- Spread Typically just a few hundredths of a per cent during Xetra trading hours.
Is A41BTT worth it for you? #
Compare A41BTT with your easy-access savings account – including TER, trading fees and spread.
Frequently asked questions #
What is A41BTT?
A41BTT is the WKN (German securities code) of the BNP Paribas Easy € Overnight UCITS ETF (ISIN LU3025345516). This money market ETF tracks the Solactive €STR Overnight Total Return Index, so it earns interest much like an easy-access savings account, at the euro overnight rate €STR.
What return does A41BTT deliver?
The return follows €STR, which can change on any banking business day and is closely tied to the ECB’s key interest rates. The ongoing charges of 0.10% a year are deducted from it. The fund’s swap counterparties currently also pay a premium on top of €STR, but it is neither guaranteed nor fixed. €STR currently stands at 2.439%.
Is A41BTT safe?
A41BTT is rated in the lowest risk class, 1 of 7. It is not covered by statutory deposit protection, but the fund’s assets are ring-fenced and held separately from the fund company. As a swap-based ETF, it carries a limited counterparty risk. You’ll find all the details under Safety.
What does A41BTT cost?
The ongoing charges (TER) are 0.10% a year. On top of that come the broker’s trading fees when buying and selling, and the spread.
Does A41BTT pay out interest?
No. A41BTT is accumulating: income is reinvested automatically and increases the price. How it is taxed depends on your country of residence – check the rules where you live or ask a tax adviser.
How does A41BTT differ from DBX0AN?
Both are synthetic money market ETFs tracking €STR with ongoing charges of 0.10%. Xtrackers’ DBX0AN tracks an index that reflects €STR plus 8.5 basis points. BNP Paribas’s A41BTT tracks the Solactive €STR Overnight Index, which has no mark-up, but currently receives a premium from its swap counterparties; according to the key information document, at least 75% of its substitute basket consists of equities. Over the last twelve months, A41BTT returned +2.48%, more than DBX0AN with +2.11% (as of 31/10/2026, source: justETF). The reason: the banks A41BTT has its swap with currently pay it a premium over €STR. That premium is not guaranteed – past performance is not a reliable indicator of future results.
Ready for fair interest? #
How to buy A41BTT as cheaply as possible – step by step.