CD91.DE vs. IAUP.L
CD91.DE (Amundi NYSE Arca Gold Bugs UCITS ETF Dist) and IAUP.L (iShares Gold Producers UCITS ETF USD Acc) are both Gold funds - CD91.DE tracks the NYSE Arca Gold BUGS while IAUP.L tracks the S&P Commodity Producers Gold Index. Both are passively managed. Over the past 10 years, CD91.DE returned 10.60%/yr vs 11.69%/yr for IAUP.L. Their correlation of 0.91 suggests significant overlap in exposure. CD91.DE charges 0.65%/yr vs 0.55%/yr for IAUP.L.
Performance
CD91.DE vs. IAUP.L - Performance Comparison
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Different Trading Currencies
CD91.DE is traded in EUR, while IAUP.L is traded in USD. To make them comparable, the IAUP.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, CD91.DE achieves a -8.09% return, which is significantly lower than IAUP.L's -7.46% return. Over the past 10 years, CD91.DE has underperformed IAUP.L with an annualized return of 10.60%, while IAUP.L has yielded a comparatively higher 11.69% 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%
IAUP.L
- 1D
- 1.32%
- 1M
- -10.68%
- YTD
- -7.46%
- 6M
- -11.72%
- 1Y
- 53.26%
- 3Y*
- 36.56%
- 5Y*
- 19.61%
- 10Y*
- 11.69%
CD91.DE vs. IAUP.L - 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% |
IAUP.L iShares Gold Producers UCITS ETF USD Acc | -7.46% | 123.85% | 18.85% | 6.15% | -5.55% | -3.60% | 13.41% | 48.89% | -5.30% | -6.43% |
Correlation
The correlation between CD91.DE and IAUP.L is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2011 | 0.91 |
The correlation between CD91.DE and IAUP.L has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.
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Return for Risk
CD91.DE vs. IAUP.L — Risk / Return Rank
CD91.DE
IAUP.L
CD91.DE vs. IAUP.L - 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 iShares Gold Producers UCITS ETF USD Acc (IAUP.L). 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 | IAUP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.21 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 1.63 | +0.12 |
| Martin ratioReturn relative to average drawdown | 4.51 | 4.28 | +0.22 |
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Drawdowns
CD91.DE vs. IAUP.L - Drawdown Comparison
The maximum CD91.DE drawdown since its inception was -83.13%, which is greater than IAUP.L's maximum drawdown of -75.90%. Use the drawdown chart below to compare losses from any high point for CD91.DE and IAUP.L.
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Drawdown Indicators
| CD91.DE | IAUP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.13% | -75.90% | -7.23% |
Max Drawdown (1Y)Largest decline over 1 year | -33.29% | -32.50% | -0.79% |
Max Drawdown (3Y)Largest decline over 3 years | -33.29% | -32.50% | -0.79% |
Max Drawdown (5Y)Largest decline over 5 years | -39.55% | -37.47% | -2.08% |
Max Drawdown (10Y)Largest decline over 10 years | -55.41% | -45.85% | -9.56% |
Current DrawdownCurrent decline from peak | -31.05% | -30.43% | -0.62% |
Average DrawdownAverage peak-to-trough decline | -53.47% | -41.10% | -12.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.91% | 12.39% | +0.52% |
Volatility
CD91.DE vs. IAUP.L - Volatility Comparison
Amundi NYSE Arca Gold Bugs UCITS ETF Dist (CD91.DE) and iShares Gold Producers UCITS ETF USD Acc (IAUP.L) have volatilities of 17.14% and 17.30%, 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
| CD91.DE | IAUP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.14% | 17.30% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 36.98% | 36.78% | +0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.98% | 44.48% | +0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.94% | 33.93% | +1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.55% | 33.18% | +1.37% |
CD91.DE vs. IAUP.L - Expense Ratio Comparison
CD91.DE has a 0.65% expense ratio, which is higher than IAUP.L's 0.55% expense ratio.
Dividends
CD91.DE vs. IAUP.L - Dividend Comparison
CD91.DE's dividend yield for the trailing twelve months is around 0.17%, while IAUP.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
IAUP.L iShares Gold Producers UCITS ETF USD Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, CD91.DE and IAUP.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, IAUP.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IAUP.L is cheaper with a 0.55% expense ratio, compared with 0.65% for CD91.DE.
CD91.DE tracks NYSE Arca Gold BUGS, while IAUP.L tracks S&P Commodity Producers Gold Index. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.65% for CD91.DE and 0.55% for IAUP.L.
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