CD91.DE vs. 8PSG.DE
CD91.DE (Amundi NYSE Arca Gold Bugs UCITS ETF Dist) and 8PSG.DE (Invesco Physical Gold ETC) are both Gold funds - CD91.DE tracks the NYSE Arca Gold BUGS while 8PSG.DE tracks the LBMA Gold Price PM. Both are passively managed. Over the past 10 years, CD91.DE returned 10.60%/yr vs 11.21%/yr for 8PSG.DE. A 0.59 correlation means they provide meaningful diversification when combined. CD91.DE charges 0.65%/yr vs 0.12%/yr for 8PSG.DE.
Performance
CD91.DE vs. 8PSG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CD91.DE achieves a -8.09% return, which is significantly lower than 8PSG.DE's -5.74% return. Over the past 10 years, CD91.DE has underperformed 8PSG.DE with an annualized return of 10.60%, while 8PSG.DE has yielded a comparatively higher 11.21% annualized return.
CD91.DE
- 1D
- 1.23%
- 1M
- -10.88%
- YTD
- -8.09%
- 6M
- -10.48%
- 1Y
- 58.41%
- 3Y*
- 38.73%
- 5Y*
- 20.74%
- 10Y*
- 10.60%
8PSG.DE
- 1D
- 0.00%
- 1M
- -8.94%
- YTD
- -5.74%
- 6M
- -6.86%
- 1Y
- 23.34%
- 3Y*
- 26.68%
- 5Y*
- 18.68%
- 10Y*
- 11.21%
CD91.DE vs. 8PSG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CD91.DE Amundi NYSE Arca Gold Bugs UCITS ETF Dist | -8.09% | 132.46% | 20.72% | 2.57% | -1.60% | -7.98% | 15.46% | 49.85% | -12.28% | -11.15% |
8PSG.DE Invesco Physical Gold ETC | -5.74% | 48.98% | 44.76% | 0.00% | 8.62% | 3.81% | 12.94% | 20.91% | 2.90% | -1.90% |
Correlation
The correlation between CD91.DE and 8PSG.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 | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since May 11, 2010 | 0.59 |
The correlation between CD91.DE and 8PSG.DE shifts across timeframes, from 0.57 (5 years) to 0.77 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CD91.DE vs. 8PSG.DE — Risk / Return Rank
CD91.DE
8PSG.DE
CD91.DE vs. 8PSG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi NYSE Arca Gold Bugs UCITS ETF Dist (CD91.DE) and Invesco Physical Gold ETC (8PSG.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CD91.DE | 8PSG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.19 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 1.06 | +0.69 |
| Martin ratioReturn relative to average drawdown | 4.51 | 2.46 | +2.05 |
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Drawdowns
CD91.DE vs. 8PSG.DE - Drawdown Comparison
The maximum CD91.DE drawdown since its inception was -83.13%, which is greater than 8PSG.DE's maximum drawdown of -54.21%. Use the drawdown chart below to compare losses from any high point for CD91.DE and 8PSG.DE.
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Drawdown Indicators
| CD91.DE | 8PSG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.13% | -54.21% | -28.92% |
Max Drawdown (1Y)Largest decline over 1 year | -33.29% | -22.00% | -11.29% |
Max Drawdown (3Y)Largest decline over 3 years | -33.29% | -22.00% | -11.29% |
Max Drawdown (5Y)Largest decline over 5 years | -39.55% | -22.00% | -17.55% |
Max Drawdown (10Y)Largest decline over 10 years | -55.41% | -22.00% | -33.41% |
Current DrawdownCurrent decline from peak | -31.05% | -22.00% | -9.05% |
Average DrawdownAverage peak-to-trough decline | -53.47% | -23.97% | -29.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.91% | 9.48% | +3.43% |
Volatility
CD91.DE vs. 8PSG.DE - Volatility Comparison
Amundi NYSE Arca Gold Bugs UCITS ETF Dist (CD91.DE) has a higher volatility of 17.14% compared to Invesco Physical Gold ETC (8PSG.DE) at 7.99%. This indicates that CD91.DE's price experiences larger fluctuations and is considered to be riskier than 8PSG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CD91.DE | 8PSG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.14% | 7.99% | +9.15% |
Volatility (6M)Calculated over the trailing 6-month period | 36.98% | 21.34% | +15.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.98% | 33.08% | +11.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.94% | 18.49% | +16.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.55% | 21.84% | +12.71% |
CD91.DE vs. 8PSG.DE - Expense Ratio Comparison
CD91.DE has a 0.65% expense ratio, which is higher than 8PSG.DE's 0.12% expense ratio.
Dividends
CD91.DE vs. 8PSG.DE - Dividend Comparison
CD91.DE's dividend yield for the trailing twelve months is around 0.17%, while 8PSG.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
8PSG.DE Invesco Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CD91.DE Amundi NYSE Arca Gold Bugs UCITS ETF Dist | 0.17% | 0.16% | 0.33% | 2.50% | 1.04% | 0.54% | 0.17% | 0.33% | 0.00% | 0.69% |
Frequently Asked Questions
CD91.DE and 8PSG.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.
On fees, 8PSG.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
8PSG.DE is cheaper with a 0.12% expense ratio, compared with 0.65% for CD91.DE.
CD91.DE tracks NYSE Arca Gold BUGS, while 8PSG.DE tracks LBMA Gold Price PM. They also come from different issuers: Amundi and Invesco. Their fees differ too: 0.65% for CD91.DE and 0.12% for 8PSG.DE.
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