GSDE.DE vs. CMOE.DE
GSDE.DE (BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR) and CMOE.DE (Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc) are both Commodities funds - GSDE.DE tracks the BNP Paribas Energy & Metals Enhanced Roll while CMOE.DE tracks the Bloomberg Commodity (EUR Hedged). Both are passively managed. Over the past 3 years, GSDE.DE returned 13.86%/yr vs 10.16%/yr for CMOE.DE. A 0.79 correlation means they provide meaningful diversification when combined. GSDE.DE charges 0.39%/yr vs 0.24%/yr for CMOE.DE.
Performance
GSDE.DE vs. CMOE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, GSDE.DE achieves a 15.78% return, which is significantly lower than CMOE.DE's 16.95% return.
GSDE.DE
- 1D
- -0.51%
- 1M
- -1.61%
- 6M
- 10.68%
- YTD
- 15.78%
- 1Y
- 33.17%
- 3Y*
- 13.86%
- 5Y*
- 12.38%
- 10Y*
- -2.75%
CMOE.DE
- 1D
- 0.00%
- 1M
- 1.52%
- 6M
- 14.53%
- YTD
- 16.95%
- 1Y
- 27.49%
- 3Y*
- 10.16%
- 5Y*
- —
- 10Y*
- —
GSDE.DE vs. CMOE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
GSDE.DE BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR | 15.78% | 13.79% | 14.91% | -12.92% | 10.16% |
CMOE.DE Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc | 16.95% | 14.96% | 2.92% | -9.62% | -0.54% |
Correlation
The correlation between GSDE.DE and CMOE.DE is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2022 | 0.79 |
The correlation between GSDE.DE and CMOE.DE has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.
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Return for Risk
GSDE.DE vs. CMOE.DE — Risk / Return Rank
GSDE.DE
CMOE.DE
GSDE.DE vs. CMOE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (GSDE.DE) and Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc (CMOE.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.
| GSDE.DE | CMOE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.29 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 1.89 | +0.89 |
| Martin ratioReturn relative to average drawdown | 8.40 | 5.97 | +2.43 |
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Drawdowns
GSDE.DE vs. CMOE.DE - Drawdown Comparison
The maximum GSDE.DE drawdown since its inception was -91.25%, which is greater than CMOE.DE's maximum drawdown of -29.97%. Use the drawdown chart below to compare losses from any high point for GSDE.DE and CMOE.DE.
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Drawdown Indicators
| GSDE.DE | CMOE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.25% | -29.97% | -61.28% |
Max Drawdown (1Y)Largest decline over 1 year | -11.90% | -14.63% | +2.73% |
Max Drawdown (3Y)Largest decline over 3 years | -15.26% | -14.63% | -0.63% |
Max Drawdown (5Y)Largest decline over 5 years | -29.70% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -91.25% | — | — |
Current DrawdownCurrent decline from peak | -77.55% | -9.08% | -68.47% |
Average DrawdownAverage peak-to-trough decline | -72.35% | -19.12% | -53.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.94% | 4.62% | -0.68% |
Volatility
GSDE.DE vs. CMOE.DE - Volatility Comparison
The current volatility for BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (GSDE.DE) is 3.91%, while Invesco Bloomberg Commodity UCITS ETF (EUR Hedged) Acc (CMOE.DE) has a volatility of 4.70%. This indicates that GSDE.DE experiences smaller price fluctuations and is considered to be less risky than CMOE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GSDE.DE | CMOE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.91% | 4.70% | -0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 15.66% | 15.68% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.62% | 17.96% | +0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.91% | 16.77% | +1.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 117.89% | 16.77% | +101.12% |
GSDE.DE vs. CMOE.DE - Expense Ratio Comparison
GSDE.DE has a 0.39% expense ratio, which is higher than CMOE.DE's 0.24% expense ratio.
Dividends
GSDE.DE vs. CMOE.DE - Dividend Comparison
Neither GSDE.DE nor CMOE.DE has paid dividends to shareholders.
Frequently Asked Questions
GSDE.DE and CMOE.DE have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CMOE.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CMOE.DE is cheaper with a 0.24% expense ratio, compared with 0.39% for GSDE.DE.
GSDE.DE tracks BNP Paribas Energy & Metals Enhanced Roll, while CMOE.DE tracks Bloomberg Commodity (EUR Hedged). They also come from different issuers: BNP Paribas and Invesco. Their fees differ too: 0.39% for GSDE.DE and 0.24% for CMOE.DE.
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