EUNH.DE vs. GSDE.DE
EUNH.DE (iShares Core Euro Government Bond UCITS ETF (Dist)) and GSDE.DE (BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR) are both exchange-traded funds - EUNH.DE is a European Government Bonds fund tracking the Bloomberg Euro Aggregate Treasury, while GSDE.DE is a Commodities fund tracking the BNP Paribas Energy & Metals Enhanced Roll. Both are passively managed. Over the past 10 years, EUNH.DE returned -0.32%/yr vs 9.70%/yr for GSDE.DE. At a correlation of -0.07, they often move in opposite directions. EUNH.DE charges 0.07%/yr vs 0.39%/yr for GSDE.DE.
Performance
EUNH.DE vs. GSDE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EUNH.DE achieves a -0.06% return, which is significantly lower than GSDE.DE's 23.86% return. Over the past 10 years, EUNH.DE has underperformed GSDE.DE with an annualized return of -0.32%, while GSDE.DE has yielded a comparatively higher 9.70% annualized return.
EUNH.DE
- 1D
- 0.04%
- 1M
- -0.08%
- YTD
- -0.06%
- 6M
- 0.09%
- 1Y
- 0.30%
- 3Y*
- 2.35%
- 5Y*
- -2.27%
- 10Y*
- -0.32%
GSDE.DE
- 1D
- -0.69%
- 1M
- 1.80%
- YTD
- 23.86%
- 6M
- 24.24%
- 1Y
- 44.12%
- 3Y*
- 15.82%
- 5Y*
- 14.84%
- 10Y*
- 9.70%
EUNH.DE vs. GSDE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUNH.DE iShares Core Euro Government Bond UCITS ETF (Dist) | -0.06% | 0.80% | 1.52% | 6.83% | -18.32% | -3.37% | 4.72% | 6.76% | 0.85% | -0.13% |
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 EUNH.DE and GSDE.DE is -0.25, 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 | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2009 | -0.07 |
The correlation between EUNH.DE and GSDE.DE shifts across timeframes, from -0.25 (1 year) to -0.07 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
EUNH.DE vs. GSDE.DE — Risk / Return Rank
EUNH.DE
GSDE.DE
EUNH.DE vs. GSDE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Euro Government Bond UCITS ETF (Dist) (EUNH.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.
| EUNH.DE | GSDE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.39 | ||
| Sortino ratioReturn per unit of downside risk | -2.92 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.43 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 5.65 | -5.68 |
| Martin ratioReturn relative to average drawdown | -0.08 | 12.60 | -12.68 |
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
| EUNH.DE | GSDE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.02 | 2.37 | -2.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.35 | 0.82 | -1.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.06 | 0.63 | -0.69 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.09 | +0.17 |
Drawdowns
EUNH.DE vs. GSDE.DE - Drawdown Comparison
The maximum EUNH.DE drawdown since its inception was -22.43%, smaller than the maximum GSDE.DE drawdown of -68.91%. Use the drawdown chart below to compare losses from any high point for EUNH.DE and GSDE.DE.
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Drawdown Indicators
| EUNH.DE | GSDE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.43% | -68.91% | +46.48% |
Max Drawdown (1Y)Largest decline over 1 year | -3.48% | -7.89% | +4.41% |
Max Drawdown (3Y)Largest decline over 3 years | -4.10% | -15.25% | +11.15% |
Max Drawdown (5Y)Largest decline over 5 years | -21.53% | -29.72% | +8.19% |
Max Drawdown (10Y)Largest decline over 10 years | -22.43% | -29.72% | +7.29% |
Current DrawdownCurrent decline from peak | -14.10% | -6.40% | -7.70% |
Average DrawdownAverage peak-to-trough decline | -5.97% | -44.09% | +38.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.35% | 3.54% | -2.19% |
Volatility
EUNH.DE vs. GSDE.DE - Volatility Comparison
The current volatility for iShares Core Euro Government Bond UCITS ETF (Dist) (EUNH.DE) is 1.72%, while BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (GSDE.DE) has a volatility of 4.51%. This indicates that EUNH.DE experiences smaller price fluctuations and is considered to be less risky than GSDE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUNH.DE | GSDE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.72% | 4.51% | -2.79% |
Volatility (6M)Calculated over the trailing 6-month period | 3.70% | 16.35% | -12.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.37% | 18.80% | -14.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.34% | 17.84% | -11.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.52% | 15.76% | -10.24% |
EUNH.DE vs. GSDE.DE - Expense Ratio Comparison
EUNH.DE has a 0.07% expense ratio, which is lower than GSDE.DE's 0.39% expense ratio.
Dividends
EUNH.DE vs. GSDE.DE - Dividend Comparison
EUNH.DE's dividend yield for the trailing twelve months is around 2.49%, while GSDE.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUNH.DE iShares Core Euro Government Bond UCITS ETF (Dist) | 2.49% | 2.30% | 1.77% | 0.97% | 0.27% | 0.24% | 0.47% | 0.65% | 0.66% | 0.70% | 0.94% | 0.62% |
GSDE.DE BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EUNH.DE and GSDE.DE have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUNH.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUNH.DE is cheaper with a 0.07% expense ratio, compared with 0.39% for GSDE.DE.
EUNH.DE is categorized as European Government Bonds, while GSDE.DE is Commodities. EUNH.DE tracks Bloomberg Euro Aggregate Treasury, while GSDE.DE tracks BNP Paribas Energy & Metals Enhanced Roll. They also come from different issuers: iShares and BNP Paribas. Their fees differ too: 0.07% for EUNH.DE and 0.39% for GSDE.DE.
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