GSDE.DE vs. PPFB.DE
GSDE.DE (BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR) and PPFB.DE (iShares Physical Gold ETC) are both exchange-traded funds - GSDE.DE is a Commodities fund tracking the BNP Paribas Energy & Metals Enhanced Roll, while PPFB.DE is a Precious Metals fund tracking the Gold. Both are passively managed. Over the past 3 years, GSDE.DE returned 15.82%/yr vs 28.05%/yr for PPFB.DE. At a 0.41 correlation, their price movements are largely independent. GSDE.DE charges 0.39%/yr vs 0.12%/yr for PPFB.DE.
Performance
GSDE.DE vs. PPFB.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 PPFB.DE's 2.74% return.
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%
PPFB.DE
- 1D
- 0.61%
- 1M
- -3.62%
- YTD
- 2.74%
- 6M
- 6.18%
- 1Y
- 31.16%
- 3Y*
- 28.05%
- 5Y*
- —
- 10Y*
- —
GSDE.DE vs. PPFB.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% | 11.83% |
PPFB.DE iShares Physical Gold ETC | 2.74% | 49.11% | 34.17% | 9.42% | 7.03% | 3.62% |
Correlation
The correlation between GSDE.DE and PPFB.DE is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jul 19, 2021 | 0.41 |
The correlation between GSDE.DE and PPFB.DE shifts across timeframes, from 0.33 (1 year) to 0.44 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
GSDE.DE vs. PPFB.DE — Risk / Return Rank
GSDE.DE
PPFB.DE
GSDE.DE vs. PPFB.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 iShares Physical Gold ETC (PPFB.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 | PPFB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.07 | ||
| Sortino ratioReturn per unit of downside risk | +1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.26 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 5.65 | 1.81 | +3.83 |
| Martin ratioReturn relative to average drawdown | 12.60 | 4.60 | +8.00 |
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 | PPFB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.37 | 1.30 | +1.07 |
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 | 1.26 | -1.18 |
Drawdowns
GSDE.DE vs. PPFB.DE - Drawdown Comparison
The maximum GSDE.DE drawdown since its inception was -68.91%, which is greater than PPFB.DE's maximum drawdown of -16.60%. Use the drawdown chart below to compare losses from any high point for GSDE.DE and PPFB.DE.
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Drawdown Indicators
| GSDE.DE | PPFB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.91% | -16.60% | -52.31% |
Max Drawdown (1Y)Largest decline over 1 year | -7.89% | -16.60% | +8.71% |
Max Drawdown (3Y)Largest decline over 3 years | -15.25% | -16.60% | +1.35% |
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% | -15.00% | +8.60% |
Average DrawdownAverage peak-to-trough decline | -44.09% | -4.40% | -39.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.54% | 6.55% | -3.01% |
Volatility
GSDE.DE vs. PPFB.DE - Volatility Comparison
The current volatility for BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (GSDE.DE) is 4.51%, while iShares Physical Gold ETC (PPFB.DE) has a volatility of 5.11%. This indicates that GSDE.DE experiences smaller price fluctuations and is considered to be less risky than PPFB.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 | PPFB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.51% | 5.11% | -0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 16.35% | 20.18% | -3.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.80% | 23.12% | -4.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.84% | 16.13% | +1.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.76% | 16.13% | -0.37% |
GSDE.DE vs. PPFB.DE - Expense Ratio Comparison
GSDE.DE has a 0.39% expense ratio, which is higher than PPFB.DE's 0.12% expense ratio.
Dividends
GSDE.DE vs. PPFB.DE - Dividend Comparison
Neither GSDE.DE nor PPFB.DE has paid dividends to shareholders.
Frequently Asked Questions
GSDE.DE and PPFB.DE have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PPFB.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PPFB.DE is cheaper with a 0.12% expense ratio, compared with 0.39% for GSDE.DE.
GSDE.DE is categorized as Commodities, while PPFB.DE is Precious Metals. GSDE.DE tracks BNP Paribas Energy & Metals Enhanced Roll, while PPFB.DE tracks Gold. They also come from different issuers: BNP Paribas and iShares. Their fees differ too: 0.39% for GSDE.DE and 0.12% for PPFB.DE.
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