GSDE.DE vs. UEQU.DE
GSDE.DE (BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR) and UEQU.DE (UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc) are both Commodities funds - GSDE.DE tracks the BNP Paribas Energy & Metals Enhanced Roll while UEQU.DE tracks the UBS CMCI Ex Agriculture Ex Livestock Capped. Both are passively managed. Over the past 10 years, GSDE.DE returned 9.70%/yr vs 10.80%/yr for UEQU.DE. Their correlation of 0.90 suggests significant overlap in exposure. GSDE.DE charges 0.39%/yr vs 0.34%/yr for UEQU.DE.
Performance
GSDE.DE vs. UEQU.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 lower than UEQU.DE's 25.53% return. Over the past 10 years, GSDE.DE has underperformed UEQU.DE with an annualized return of 9.70%, while UEQU.DE has yielded a comparatively higher 10.80% annualized 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%
UEQU.DE
- 1D
- -0.80%
- 1M
- 2.99%
- YTD
- 25.53%
- 6M
- 26.95%
- 1Y
- 40.51%
- 3Y*
- 14.81%
- 5Y*
- 14.40%
- 10Y*
- 10.80%
GSDE.DE vs. UEQU.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% |
UEQU.DE UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc | 25.53% | 6.36% | 13.03% | -8.33% | 20.34% | 46.31% | -10.57% | 14.71% | -7.23% | 1.50% |
Correlation
The correlation between GSDE.DE and UEQU.DE is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since May 12, 2016 | 0.90 |
The correlation between GSDE.DE and UEQU.DE has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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Return for Risk
GSDE.DE vs. UEQU.DE — Risk / Return Rank
GSDE.DE
UEQU.DE
GSDE.DE vs. UEQU.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 UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc (UEQU.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 | UEQU.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.46 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 5.65 | 6.29 | -0.65 |
| Martin ratioReturn relative to average drawdown | 12.60 | 15.25 | -2.66 |
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 | UEQU.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.37 | 2.60 | -0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | 0.85 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | 0.66 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.64 | -0.56 |
Drawdowns
GSDE.DE vs. UEQU.DE - Drawdown Comparison
The maximum GSDE.DE drawdown since its inception was -68.91%, which is greater than UEQU.DE's maximum drawdown of -30.56%. Use the drawdown chart below to compare losses from any high point for GSDE.DE and UEQU.DE.
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Drawdown Indicators
| GSDE.DE | UEQU.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.91% | -30.56% | -38.35% |
Max Drawdown (1Y)Largest decline over 1 year | -7.89% | -6.50% | -1.39% |
Max Drawdown (3Y)Largest decline over 3 years | -15.25% | -15.66% | +0.41% |
Max Drawdown (5Y)Largest decline over 5 years | -29.72% | -22.44% | -7.28% |
Max Drawdown (10Y)Largest decline over 10 years | -29.72% | -30.56% | +0.84% |
Current DrawdownCurrent decline from peak | -6.40% | -1.21% | -5.19% |
Average DrawdownAverage peak-to-trough decline | -44.09% | -8.92% | -35.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.54% | 2.69% | +0.85% |
Volatility
GSDE.DE vs. UEQU.DE - Volatility Comparison
BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (GSDE.DE) has a higher volatility of 4.51% compared to UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc (UEQU.DE) at 3.91%. This indicates that GSDE.DE's price experiences larger fluctuations and is considered to be riskier than UEQU.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 | UEQU.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.51% | 3.91% | +0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 16.35% | 13.03% | +3.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.80% | 15.73% | +3.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.84% | 16.83% | +1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.76% | 16.41% | -0.65% |
GSDE.DE vs. UEQU.DE - Expense Ratio Comparison
GSDE.DE has a 0.39% expense ratio, which is higher than UEQU.DE's 0.34% expense ratio.
Dividends
GSDE.DE vs. UEQU.DE - Dividend Comparison
Neither GSDE.DE nor UEQU.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, GSDE.DE and UEQU.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, UEQU.DE is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UEQU.DE is cheaper with a 0.34% expense ratio, compared with 0.39% for GSDE.DE.
GSDE.DE tracks BNP Paribas Energy & Metals Enhanced Roll, while UEQU.DE tracks UBS CMCI Ex Agriculture Ex Livestock Capped. They also come from different issuers: BNP Paribas and UBS. Their fees differ too: 0.39% for GSDE.DE and 0.34% for UEQU.DE.
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