The two most ambitious variations for Black in the exchange Ruy are 5.0-0 f6 6.d4 Bg4, and 5.0-0 Qf6. Of course there are other moves who give Black a good game, but these two are the most ambitious.
The variation 5.0-0 Bg4 6.h3 h5 is too much analysed to bother about it- I prefer playing chess, not replaying a dozen of moves I've read somewhere.
5.Nxe5 Qd4 6.Nf3 Qxe4+ 7.Qe2 is NOT easy equality: white has no kingside majority, Black has a nice bishop pair, and easy development. In short, Black is already slightly better.
I'm looking for non-drawing responses to ruy lopez exchange
is there a non-drawish variation in the exchange?