GSDE.DE vs. ETSZ.DE
GSDE.DE (BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR) and ETSZ.DE (BNP Paribas Easy STOXX Europe 600 UCITS ETF) are both exchange-traded funds - GSDE.DE is a Commodities fund tracking the BNP Paribas Energy & Metals Enhanced Roll, while ETSZ.DE is a Europe Equities fund tracking the STOXX® Europe 600. Both are passively managed. Over the past 10 years, GSDE.DE returned 9.70%/yr vs 9.16%/yr for ETSZ.DE. At a 0.24 correlation, their price movements are largely independent. GSDE.DE charges 0.39%/yr vs 0.20%/yr for ETSZ.DE.
Performance
GSDE.DE vs. ETSZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, GSDE.DE achieves a 23.86% return, which is significantly higher than ETSZ.DE's 7.24% return. Over the past 10 years, GSDE.DE has outperformed ETSZ.DE with an annualized return of 9.70%, while ETSZ.DE has yielded a comparatively lower 9.16% annualized return.
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
- 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 vs. ETSZ.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 | 23.86% | 13.74% | 14.93% | -12.88% | 21.59% | 38.67% | -11.20% | 13.32% | -3.71% | -5.15% |
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% |
Correlation
The correlation between GSDE.DE and ETSZ.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 GSDE.DE and ETSZ.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
GSDE.DE vs. ETSZ.DE — Risk / Return Rank
GSDE.DE
ETSZ.DE
GSDE.DE vs. ETSZ.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 STOXX Europe 600 UCITS ETF (ETSZ.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.
| GSDE.DE | ETSZ.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 | 1.43 | 1.24 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 5.65 | 1.72 | +3.93 |
| Martin ratioReturn relative to average drawdown | 12.60 | 6.45 | +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
| GSDE.DE | ETSZ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.37 | 1.26 | +1.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | 0.66 | +0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | 0.59 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.52 | -0.43 |
Drawdowns
GSDE.DE vs. ETSZ.DE - Drawdown Comparison
The maximum GSDE.DE drawdown since its inception was -68.91%, which is greater than ETSZ.DE's maximum drawdown of -35.51%. Use the drawdown chart below to compare losses from any high point for GSDE.DE and ETSZ.DE.
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Drawdown Indicators
| GSDE.DE | ETSZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.91% | -35.51% | -33.40% |
Max Drawdown (1Y)Largest decline over 1 year | -7.89% | -9.39% | +1.50% |
Max Drawdown (3Y)Largest decline over 3 years | -15.25% | -16.35% | +1.10% |
Max Drawdown (5Y)Largest decline over 5 years | -29.72% | -20.55% | -9.17% |
Max Drawdown (10Y)Largest decline over 10 years | -29.72% | -35.51% | +5.79% |
Current DrawdownCurrent decline from peak | -6.40% | -1.70% | -4.70% |
Average DrawdownAverage peak-to-trough decline | -44.09% | -5.41% | -38.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.54% | 2.51% | +1.03% |
Volatility
GSDE.DE vs. ETSZ.DE - Volatility Comparison
BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (GSDE.DE) and BNP Paribas Easy STOXX Europe 600 UCITS ETF (ETSZ.DE) have volatilities of 4.51% and 4.34%, 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
| GSDE.DE | ETSZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.51% | 4.34% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 16.35% | 10.64% | +5.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.80% | 12.84% | +5.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.84% | 14.39% | +3.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.76% | 15.54% | +0.22% |
GSDE.DE vs. ETSZ.DE - Expense Ratio Comparison
GSDE.DE has a 0.39% expense ratio, which is higher than ETSZ.DE's 0.20% expense ratio.
Dividends
GSDE.DE vs. ETSZ.DE - Dividend Comparison
Neither GSDE.DE nor ETSZ.DE has paid dividends to shareholders.
Frequently Asked Questions
GSDE.DE and ETSZ.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.
GSDE.DE is categorized as Commodities, while ETSZ.DE is Europe Equities. GSDE.DE tracks BNP Paribas Energy & Metals Enhanced Roll, while ETSZ.DE tracks STOXX® Europe 600. Their fees differ too: 0.39% for GSDE.DE and 0.20% for ETSZ.DE.
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