GSDE.DE vs. EMEH.DE
GSDE.DE (BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR) and EMEH.DE (BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR) are both Commodities funds from BNP Paribas - GSDE.DE tracks the BNP Paribas Energy & Metals Enhanced Roll while EMEH.DE tracks the BNP Paribas Energy & Metals Enhanced Roll (EUR Hedged). Both are passively managed. Over the past 5 years, GSDE.DE returned 12.52%/yr vs 9.34%/yr for EMEH.DE. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.39% expense ratio.
Performance
GSDE.DE vs. EMEH.DE - Performance Comparison
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Returns By Period
In the year-to-date period, GSDE.DE achieves a 16.49% return, which is significantly higher than EMEH.DE's 11.85% return.
GSDE.DE
- 1D
- 0.41%
- 1M
- -0.45%
- 6M
- 12.56%
- YTD
- 16.49%
- 1Y
- 33.90%
- 3Y*
- 14.18%
- 5Y*
- 12.52%
- 10Y*
- -2.68%
EMEH.DE
- 1D
- 0.33%
- 1M
- -2.04%
- 6M
- 9.77%
- YTD
- 11.85%
- 1Y
- 29.11%
- 3Y*
- 12.57%
- 5Y*
- 9.34%
- 10Y*
- —
GSDE.DE vs. EMEH.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GSDE.DE BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR | 16.49% | 13.79% | 14.91% | -12.92% | 21.31% | 39.05% | -11.19% | 13.24% | -67.88% | 5.94% |
EMEH.DE BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR | 11.85% | 25.43% | 6.61% | -12.28% | 11.18% | 27.11% | -4.38% | 7.56% | -90.10% | -88.20% |
Correlation
The correlation between GSDE.DE and EMEH.DE is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2017 | 0.83 |
The correlation between GSDE.DE and EMEH.DE has been stable across timeframes, ranging from 0.83 to 0.91 - a consistent structural relationship.
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Return for Risk
GSDE.DE vs. EMEH.DE — Risk / Return Rank
GSDE.DE
EMEH.DE
GSDE.DE vs. EMEH.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 BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (EMEH.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 | EMEH.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.29 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | 2.00 | +0.84 |
| Martin ratioReturn relative to average drawdown | 8.43 | 6.15 | +2.27 |
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Drawdowns
GSDE.DE vs. EMEH.DE - Drawdown Comparison
The maximum GSDE.DE drawdown since its inception was -91.25%, smaller than the maximum EMEH.DE drawdown of -99.99%. Use the drawdown chart below to compare losses from any high point for GSDE.DE and EMEH.DE.
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Drawdown Indicators
| GSDE.DE | EMEH.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.25% | -99.99% | +8.74% |
Max Drawdown (1Y)Largest decline over 1 year | -11.90% | -14.53% | +2.63% |
Max Drawdown (3Y)Largest decline over 3 years | -15.26% | -14.53% | -0.73% |
Max Drawdown (5Y)Largest decline over 5 years | -29.70% | -32.74% | +3.04% |
Max Drawdown (10Y)Largest decline over 10 years | -91.25% | — | — |
Current DrawdownCurrent decline from peak | -77.41% | -97.89% | +20.48% |
Average DrawdownAverage peak-to-trough decline | -72.35% | -96.26% | +23.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.01% | 4.72% | -0.71% |
Volatility
GSDE.DE vs. EMEH.DE - Volatility Comparison
The current volatility for BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (GSDE.DE) is 3.84%, while BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (EMEH.DE) has a volatility of 4.36%. This indicates that GSDE.DE experiences smaller price fluctuations and is considered to be less risky than EMEH.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 | EMEH.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.84% | 4.36% | -0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 15.60% | 15.19% | +0.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.59% | 18.03% | +0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.90% | 17.57% | +0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 117.87% | 24,924.34% | -24,806.47% |
GSDE.DE vs. EMEH.DE - Expense Ratio Comparison
Both GSDE.DE and EMEH.DE have an expense ratio of 0.39%.
Dividends
GSDE.DE vs. EMEH.DE - Dividend Comparison
Neither GSDE.DE nor EMEH.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, GSDE.DE and EMEH.DE 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.
Both ETFs have the same 0.39% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
GSDE.DE and EMEH.DE have the same expense ratio: 0.39% per year.
GSDE.DE tracks BNP Paribas Energy & Metals Enhanced Roll, while EMEH.DE tracks BNP Paribas Energy & Metals Enhanced Roll (EUR Hedged).
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