GSDE.DE vs. SXRS.DE
GSDE.DE (BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR) and SXRS.DE (iShares Diversified Commodity Swap UCITS ETF) are both Commodities funds - GSDE.DE tracks the BNP Paribas Energy & Metals Enhanced Roll while SXRS.DE tracks the Bloomberg Commodity. Both are passively managed. Over the past 5 years, GSDE.DE returned 14.84%/yr vs 12.06%/yr for SXRS.DE. Their correlation of 0.88 suggests significant overlap in exposure. GSDE.DE charges 0.39%/yr vs 0.19%/yr for SXRS.DE.
Performance
GSDE.DE vs. SXRS.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 SXRS.DE slightly lower at 23.84%.
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%
SXRS.DE
- 1D
- -1.56%
- 1M
- -3.05%
- YTD
- 23.84%
- 6M
- 24.41%
- 1Y
- 35.20%
- 3Y*
- 12.54%
- 5Y*
- 12.06%
- 10Y*
- —
GSDE.DE vs. SXRS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | -4.67% |
SXRS.DE iShares Diversified Commodity Swap UCITS ETF | 23.84% | 4.72% | 10.95% | -10.44% | 20.69% | 40.00% | -13.37% | 9.72% | -6.15% |
Correlation
The correlation between GSDE.DE and SXRS.DE is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Apr 26, 2018 | 0.88 |
The correlation between GSDE.DE and SXRS.DE has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.
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Return for Risk
GSDE.DE vs. SXRS.DE — Risk / Return Rank
GSDE.DE
SXRS.DE
GSDE.DE vs. SXRS.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 Diversified Commodity Swap UCITS ETF (SXRS.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 | SXRS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.34 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 5.65 | 4.00 | +1.64 |
| Martin ratioReturn relative to average drawdown | 12.60 | 8.95 | +3.65 |
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 | SXRS.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.37 | 1.87 | +0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | 0.70 | +0.13 |
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 | -0.45 |
Drawdowns
GSDE.DE vs. SXRS.DE - Drawdown Comparison
The maximum GSDE.DE drawdown since its inception was -68.91%, which is greater than SXRS.DE's maximum drawdown of -27.64%. Use the drawdown chart below to compare losses from any high point for GSDE.DE and SXRS.DE.
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Drawdown Indicators
| GSDE.DE | SXRS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.91% | -27.64% | -41.27% |
Max Drawdown (1Y)Largest decline over 1 year | -7.89% | -8.75% | +0.86% |
Max Drawdown (3Y)Largest decline over 3 years | -15.25% | -16.03% | +0.78% |
Max Drawdown (5Y)Largest decline over 5 years | -29.72% | -27.56% | -2.16% |
Max Drawdown (10Y)Largest decline over 10 years | -29.72% | — | — |
Current DrawdownCurrent decline from peak | -6.40% | -4.99% | -1.41% |
Average DrawdownAverage peak-to-trough decline | -44.09% | -13.12% | -30.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.54% | 3.92% | -0.38% |
Volatility
GSDE.DE vs. SXRS.DE - Volatility Comparison
The current volatility for BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (GSDE.DE) is 4.51%, while iShares Diversified Commodity Swap UCITS ETF (SXRS.DE) has a volatility of 5.76%. This indicates that GSDE.DE experiences smaller price fluctuations and is considered to be less risky than SXRS.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 | SXRS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.51% | 5.76% | -1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 16.35% | 16.67% | -0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.80% | 18.76% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.84% | 17.13% | +0.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.76% | 15.85% | -0.09% |
GSDE.DE vs. SXRS.DE - Expense Ratio Comparison
GSDE.DE has a 0.39% expense ratio, which is higher than SXRS.DE's 0.19% expense ratio.
Dividends
GSDE.DE vs. SXRS.DE - Dividend Comparison
Neither GSDE.DE nor SXRS.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, GSDE.DE and SXRS.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.
On fees, SXRS.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SXRS.DE is cheaper with a 0.19% expense ratio, compared with 0.39% for GSDE.DE.
GSDE.DE tracks BNP Paribas Energy & Metals Enhanced Roll, while SXRS.DE tracks Bloomberg Commodity. They also come from different issuers: BNP Paribas and iShares. Their fees differ too: 0.39% for GSDE.DE and 0.19% for SXRS.DE.
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