ETSZ.DE vs. GSDE.DE
ETSZ.DE (BNP Paribas Easy STOXX Europe 600 UCITS ETF) and GSDE.DE (BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR) are both exchange-traded funds - ETSZ.DE is a Europe Equities fund tracking the STOXX® Europe 600, while GSDE.DE is a Commodities fund tracking the BNP Paribas Energy & Metals Enhanced Roll. Both are passively managed. Over the past 10 years, ETSZ.DE returned 9.16%/yr vs 9.70%/yr for GSDE.DE. At a 0.24 correlation, their price movements are largely independent. ETSZ.DE charges 0.20%/yr vs 0.39%/yr for GSDE.DE.
Performance
ETSZ.DE vs. GSDE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ETSZ.DE achieves a 7.24% return, which is significantly lower than GSDE.DE's 23.86% return. Over the past 10 years, ETSZ.DE has underperformed GSDE.DE with an annualized return of 9.16%, while GSDE.DE has yielded a comparatively higher 9.70% annualized return.
ETSZ.DE
- 1D
- 0.59%
- 1M
- 3.00%
- YTD
- 7.24%
- 6M
- 9.76%
- 1Y
- 16.19%
- 3Y*
- 13.72%
- 5Y*
- 9.62%
- 10Y*
- 9.16%
GSDE.DE
- 1D
- -0.69%
- 1M
- -0.24%
- YTD
- 23.86%
- 6M
- 26.63%
- 1Y
- 44.74%
- 3Y*
- 15.82%
- 5Y*
- 14.84%
- 10Y*
- 9.70%
ETSZ.DE vs. GSDE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETSZ.DE BNP Paribas Easy STOXX Europe 600 UCITS ETF | 7.24% | 20.43% | 8.21% | 15.61% | -10.31% | 24.89% | -1.49% | 28.86% | -11.18% | 10.63% |
GSDE.DE BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR | 23.86% | 13.74% | 14.93% | -12.88% | 21.59% | 38.67% | -11.20% | 13.32% | -3.71% | -5.15% |
Correlation
The correlation between ETSZ.DE and GSDE.DE is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 2013 | 0.24 |
The correlation between ETSZ.DE and GSDE.DE shifts across timeframes, from -0.14 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ETSZ.DE vs. GSDE.DE — Risk / Return Rank
ETSZ.DE
GSDE.DE
ETSZ.DE vs. GSDE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.DE) and BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (GSDE.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.
| ETSZ.DE | GSDE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.43 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 5.65 | -3.93 |
| Martin ratioReturn relative to average drawdown | 6.45 | 12.60 | -6.15 |
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
| ETSZ.DE | GSDE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 2.37 | -1.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | 0.82 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.63 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.09 | +0.43 |
Drawdowns
ETSZ.DE vs. GSDE.DE - Drawdown Comparison
The maximum ETSZ.DE drawdown since its inception was -35.51%, smaller than the maximum GSDE.DE drawdown of -68.91%. Use the drawdown chart below to compare losses from any high point for ETSZ.DE and GSDE.DE.
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Drawdown Indicators
| ETSZ.DE | GSDE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.51% | -68.91% | +33.40% |
Max Drawdown (1Y)Largest decline over 1 year | -9.39% | -7.89% | -1.50% |
Max Drawdown (3Y)Largest decline over 3 years | -16.35% | -15.25% | -1.10% |
Max Drawdown (5Y)Largest decline over 5 years | -20.55% | -29.72% | +9.17% |
Max Drawdown (10Y)Largest decline over 10 years | -35.51% | -29.72% | -5.79% |
Current DrawdownCurrent decline from peak | -1.70% | -6.40% | +4.70% |
Average DrawdownAverage peak-to-trough decline | -5.41% | -44.09% | +38.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 3.54% | -1.03% |
Volatility
ETSZ.DE vs. GSDE.DE - Volatility Comparison
BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.DE) and BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (GSDE.DE) have volatilities of 4.34% and 4.51%, 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
| ETSZ.DE | GSDE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 4.51% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 10.64% | 16.35% | -5.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.84% | 18.80% | -5.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.39% | 17.84% | -3.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 15.76% | -0.22% |
ETSZ.DE vs. GSDE.DE - Expense Ratio Comparison
ETSZ.DE has a 0.20% expense ratio, which is lower than GSDE.DE's 0.39% expense ratio.
Dividends
ETSZ.DE vs. GSDE.DE - Dividend Comparison
Neither ETSZ.DE nor GSDE.DE has paid dividends to shareholders.
Frequently Asked Questions
ETSZ.DE and GSDE.DE have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ETSZ.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETSZ.DE is cheaper with a 0.20% expense ratio, compared with 0.39% for GSDE.DE.
ETSZ.DE is categorized as Europe Equities, while GSDE.DE is Commodities. ETSZ.DE tracks STOXX® Europe 600, while GSDE.DE tracks BNP Paribas Energy & Metals Enhanced Roll. Their fees differ too: 0.20% for ETSZ.DE and 0.39% for GSDE.DE.
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