PPFB.DE vs. CD91.DE
PPFB.DE (iShares Physical Gold ETC) and CD91.DE (Amundi NYSE Arca Gold Bugs UCITS ETF Dist) are both Gold funds - PPFB.DE tracks the Gold while CD91.DE tracks the NYSE Arca Gold BUGS. Both are passively managed. Over the past 3 years, PPFB.DE returned 25.83%/yr vs 38.73%/yr for CD91.DE. A 0.70 correlation means they provide meaningful diversification when combined. PPFB.DE charges 0.12%/yr vs 0.65%/yr for CD91.DE.
Performance
PPFB.DE vs. CD91.DE - Performance Comparison
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Returns By Period
In the year-to-date period, PPFB.DE achieves a -5.76% return, which is significantly higher than CD91.DE's -8.09% return.
PPFB.DE
- 1D
- 0.00%
- 1M
- -8.95%
- YTD
- -5.76%
- 6M
- -6.89%
- 1Y
- 23.29%
- 3Y*
- 25.83%
- 5Y*
- —
- 10Y*
- —
CD91.DE
- 1D
- 1.23%
- 1M
- -10.88%
- YTD
- -8.09%
- 6M
- -10.48%
- 1Y
- 58.41%
- 3Y*
- 38.73%
- 5Y*
- 20.74%
- 10Y*
- 10.60%
PPFB.DE vs. CD91.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PPFB.DE iShares Physical Gold ETC | -5.76% | 49.11% | 34.17% | 9.42% | 7.03% | 2.86% |
CD91.DE Amundi NYSE Arca Gold Bugs UCITS ETF Dist | -8.09% | 132.46% | 20.72% | 2.57% | -1.60% | -3.19% |
Correlation
The correlation between PPFB.DE and CD91.DE is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2021 | 0.70 |
The correlation between PPFB.DE and CD91.DE has been stable across timeframes, ranging from 0.70 to 0.77 - a consistent structural relationship.
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Return for Risk
PPFB.DE vs. CD91.DE — Risk / Return Rank
PPFB.DE
CD91.DE
PPFB.DE vs. CD91.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (PPFB.DE) and Amundi NYSE Arca Gold Bugs UCITS ETF Dist (CD91.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PPFB.DE | CD91.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.22 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.06 | 1.75 | -0.68 |
| Martin ratioReturn relative to average drawdown | 2.94 | 4.51 | -1.57 |
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Drawdowns
PPFB.DE vs. CD91.DE - Drawdown Comparison
The maximum PPFB.DE drawdown since its inception was -22.04%, smaller than the maximum CD91.DE drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for PPFB.DE and CD91.DE.
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Drawdown Indicators
| PPFB.DE | CD91.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.04% | -83.13% | +61.09% |
Max Drawdown (1Y)Largest decline over 1 year | -22.04% | -33.29% | +11.25% |
Max Drawdown (3Y)Largest decline over 3 years | -22.04% | -33.29% | +11.25% |
Max Drawdown (5Y)Largest decline over 5 years | — | -39.55% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -55.41% | — |
Current DrawdownCurrent decline from peak | -22.04% | -31.05% | +9.01% |
Average DrawdownAverage peak-to-trough decline | -4.59% | -53.47% | +48.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.95% | 12.91% | -4.96% |
Volatility
PPFB.DE vs. CD91.DE - Volatility Comparison
The current volatility for iShares Physical Gold ETC (PPFB.DE) is 8.03%, while Amundi NYSE Arca Gold Bugs UCITS ETF Dist (CD91.DE) has a volatility of 17.14%. This indicates that PPFB.DE experiences smaller price fluctuations and is considered to be less risky than CD91.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PPFB.DE | CD91.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.03% | 17.14% | -9.11% |
Volatility (6M)Calculated over the trailing 6-month period | 21.40% | 36.98% | -15.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.22% | 44.98% | -20.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.40% | 34.94% | -18.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.40% | 34.55% | -18.15% |
PPFB.DE vs. CD91.DE - Expense Ratio Comparison
PPFB.DE has a 0.12% expense ratio, which is lower than CD91.DE's 0.65% expense ratio.
Dividends
PPFB.DE vs. CD91.DE - Dividend Comparison
PPFB.DE has not paid dividends to shareholders, while CD91.DE's dividend yield for the trailing twelve months is around 0.17%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CD91.DE Amundi NYSE Arca Gold Bugs UCITS ETF Dist | 0.17% | 0.16% | 0.33% | 2.50% | 1.04% | 0.54% | 0.17% | 0.33% | 0.00% | 0.69% |
PPFB.DE iShares Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PPFB.DE and CD91.DE have a correlation of 0.77, 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 0.65% for CD91.DE.
PPFB.DE tracks Gold, while CD91.DE tracks NYSE Arca Gold BUGS. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.12% for PPFB.DE and 0.65% for CD91.DE.
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