GSDE.DE vs. EXAG.DE
GSDE.DE (BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR) and EXAG.DE (WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF (EUR Hedged) Acc) are both Commodities funds - GSDE.DE tracks the BNP Paribas Energy & Metals Enhanced Roll while EXAG.DE tracks the Morgan Stanley RADAR ex Agriculture & Livestock Commodity (EUR Hedged). Both are passively managed. Over the past 3 years, GSDE.DE returned 15.82%/yr vs 18.34%/yr for EXAG.DE. A 0.72 correlation means they provide meaningful diversification when combined. GSDE.DE charges 0.39%/yr vs 0.60%/yr for EXAG.DE.
Performance
GSDE.DE vs. EXAG.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with GSDE.DE having a 23.86% return and EXAG.DE slightly lower at 23.44%.
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%
EXAG.DE
- 1D
- -1.00%
- 1M
- -3.06%
- YTD
- 23.44%
- 6M
- 33.80%
- 1Y
- 60.10%
- 3Y*
- 18.34%
- 5Y*
- —
- 10Y*
- —
GSDE.DE vs. EXAG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GSDE.DE BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR | 23.86% | 13.74% | 14.93% | -12.88% | 21.59% | 11.91% |
EXAG.DE WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF (EUR Hedged) Acc | 23.44% | 32.86% | 1.21% | -10.04% | 12.14% | -0.14% |
Correlation
The correlation between GSDE.DE and EXAG.DE is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2021 | 0.72 |
The correlation between GSDE.DE and EXAG.DE has been stable across timeframes, ranging from 0.72 to 0.76 - a consistent structural relationship.
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Return for Risk
GSDE.DE vs. EXAG.DE — Risk / Return Rank
GSDE.DE
EXAG.DE
GSDE.DE vs. EXAG.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 WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF (EUR Hedged) Acc (EXAG.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 | EXAG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.45 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 5.65 | 5.01 | +0.64 |
| Martin ratioReturn relative to average drawdown | 12.60 | 17.27 | -4.67 |
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 | EXAG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.37 | 2.73 | -0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.53 | -0.44 |
Drawdowns
GSDE.DE vs. EXAG.DE - Drawdown Comparison
The maximum GSDE.DE drawdown since its inception was -68.91%, which is greater than EXAG.DE's maximum drawdown of -35.04%. Use the drawdown chart below to compare losses from any high point for GSDE.DE and EXAG.DE.
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Drawdown Indicators
| GSDE.DE | EXAG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.91% | -35.04% | -33.87% |
Max Drawdown (1Y)Largest decline over 1 year | -7.89% | -11.94% | +4.05% |
Max Drawdown (3Y)Largest decline over 3 years | -15.25% | -15.69% | +0.44% |
Max Drawdown (5Y)Largest decline over 5 years | -29.72% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -29.72% | — | — |
Current DrawdownCurrent decline from peak | -6.40% | -6.47% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -44.09% | -21.25% | -22.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.54% | 3.47% | +0.07% |
Volatility
GSDE.DE vs. EXAG.DE - Volatility Comparison
The current volatility for BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (GSDE.DE) is 4.51%, while WisdomTree Enhanced Commodity ex-Agriculture UCITS ETF (EUR Hedged) Acc (EXAG.DE) has a volatility of 5.02%. This indicates that GSDE.DE experiences smaller price fluctuations and is considered to be less risky than EXAG.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 | EXAG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.51% | 5.02% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 16.35% | 19.08% | -2.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.80% | 21.98% | -3.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.84% | 20.80% | -2.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.76% | 20.80% | -5.04% |
GSDE.DE vs. EXAG.DE - Expense Ratio Comparison
GSDE.DE has a 0.39% expense ratio, which is lower than EXAG.DE's 0.60% expense ratio.
Dividends
GSDE.DE vs. EXAG.DE - Dividend Comparison
Neither GSDE.DE nor EXAG.DE has paid dividends to shareholders.
Frequently Asked Questions
GSDE.DE and EXAG.DE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GSDE.DE is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GSDE.DE is cheaper with a 0.39% expense ratio, compared with 0.60% for EXAG.DE.
GSDE.DE tracks BNP Paribas Energy & Metals Enhanced Roll, while EXAG.DE tracks Morgan Stanley RADAR ex Agriculture & Livestock Commodity (EUR Hedged). They also come from different issuers: BNP Paribas and WisdomTree. Their fees differ too: 0.39% for GSDE.DE and 0.60% for EXAG.DE.
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