M9SA.DE vs. GSDE.DE
M9SA.DE (Market Access Rogers International Commodity UCITS ETF) and GSDE.DE (BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR) are both Commodities funds - M9SA.DE tracks the Rogers International Commodity (RICI) while GSDE.DE tracks the BNP Paribas Energy & Metals Enhanced Roll. Both are passively managed. Over the past 10 years, M9SA.DE returned 7.64%/yr vs 9.70%/yr for GSDE.DE. A 0.80 correlation means they provide meaningful diversification when combined. M9SA.DE charges 0.60%/yr vs 0.39%/yr for GSDE.DE.
Performance
M9SA.DE vs. GSDE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, M9SA.DE achieves a 32.08% return, which is significantly higher than GSDE.DE's 23.86% return. Over the past 10 years, M9SA.DE has underperformed GSDE.DE with an annualized return of 7.64%, while GSDE.DE has yielded a comparatively higher 9.70% annualized return.
M9SA.DE
- 1D
- -1.46%
- 1M
- -3.15%
- YTD
- 32.08%
- 6M
- 32.39%
- 1Y
- 39.29%
- 3Y*
- 12.05%
- 5Y*
- 13.63%
- 10Y*
- 7.64%
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%
M9SA.DE vs. GSDE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
M9SA.DE Market Access Rogers International Commodity UCITS ETF | 32.08% | -4.38% | 10.96% | -8.16% | 23.00% | 52.58% | -18.26% | 13.66% | -5.52% | -10.12% |
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% |
Correlation
The correlation between M9SA.DE and GSDE.DE is 0.85, 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 | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jun 2, 2006 | 0.80 |
The correlation between M9SA.DE and GSDE.DE has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.
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Return for Risk
M9SA.DE vs. GSDE.DE — Risk / Return Rank
M9SA.DE
GSDE.DE
M9SA.DE vs. GSDE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Market Access Rogers International Commodity UCITS ETF (M9SA.DE) and BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (GSDE.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.
| M9SA.DE | GSDE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.43 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 4.36 | 5.65 | -1.29 |
| Martin ratioReturn relative to average drawdown | 8.24 | 12.60 | -4.36 |
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
| M9SA.DE | GSDE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.77 | 2.37 | -0.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.70 | 0.82 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.63 | -0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.07 | 0.09 | -0.02 |
Drawdowns
M9SA.DE vs. GSDE.DE - Drawdown Comparison
The maximum M9SA.DE drawdown since its inception was -68.53%, roughly equal to the maximum GSDE.DE drawdown of -68.91%. Use the drawdown chart below to compare losses from any high point for M9SA.DE and GSDE.DE.
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Drawdown Indicators
| M9SA.DE | GSDE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.53% | -68.91% | +0.38% |
Max Drawdown (1Y)Largest decline over 1 year | -8.98% | -7.89% | -1.09% |
Max Drawdown (3Y)Largest decline over 3 years | -17.75% | -15.25% | -2.50% |
Max Drawdown (5Y)Largest decline over 5 years | -27.06% | -29.72% | +2.66% |
Max Drawdown (10Y)Largest decline over 10 years | -42.54% | -29.72% | -12.82% |
Current DrawdownCurrent decline from peak | -5.62% | -6.40% | +0.78% |
Average DrawdownAverage peak-to-trough decline | -33.68% | -44.09% | +10.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.76% | 3.54% | +1.22% |
Volatility
M9SA.DE vs. GSDE.DE - Volatility Comparison
Market Access Rogers International Commodity UCITS ETF (M9SA.DE) has a higher volatility of 6.09% compared to BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (GSDE.DE) at 4.51%. This indicates that M9SA.DE's price experiences larger fluctuations and is considered to be riskier than GSDE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| M9SA.DE | GSDE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.09% | 4.51% | +1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 19.44% | 16.35% | +3.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.09% | 18.80% | +3.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.25% | 17.84% | +1.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.11% | 15.76% | +2.35% |
M9SA.DE vs. GSDE.DE - Expense Ratio Comparison
M9SA.DE has a 0.60% expense ratio, which is higher than GSDE.DE's 0.39% expense ratio.
Dividends
M9SA.DE vs. GSDE.DE - Dividend Comparison
Neither M9SA.DE nor GSDE.DE has paid dividends to shareholders.
Frequently Asked Questions
M9SA.DE and GSDE.DE have a correlation of 0.85, 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 M9SA.DE.
M9SA.DE tracks Rogers International Commodity (RICI), while GSDE.DE tracks BNP Paribas Energy & Metals Enhanced Roll. They also come from different issuers: China Post Global and BNP Paribas. Their fees differ too: 0.60% for M9SA.DE and 0.39% for GSDE.DE.
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