PPFB.DE vs. GSDE.DE
PPFB.DE (iShares Physical Gold ETC) and GSDE.DE (BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR) are both exchange-traded funds - PPFB.DE is a Gold fund tracking the Gold, while GSDE.DE is a Commodities fund tracking the BNP Paribas Energy & Metals Enhanced Roll. Both are passively managed. Over the past 5 years, PPFB.DE returned 17.85%/yr vs 12.52%/yr for GSDE.DE. At a 0.40 correlation, their price movements are largely independent. PPFB.DE charges 0.12%/yr vs 0.39%/yr for GSDE.DE.
Performance
PPFB.DE vs. GSDE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, PPFB.DE achieves a -6.38% return, which is significantly lower than GSDE.DE's 16.49% return.
PPFB.DE
- 1D
- 0.00%
- 1M
- -4.91%
- 6M
- -11.49%
- YTD
- -6.38%
- 1Y
- 21.76%
- 3Y*
- 25.59%
- 5Y*
- 17.85%
- 10Y*
- —
GSDE.DE
- 1D
- 0.41%
- 1M
- 0.31%
- 6M
- 12.56%
- YTD
- 16.49%
- 1Y
- 33.63%
- 3Y*
- 14.18%
- 5Y*
- 12.52%
- 10Y*
- -2.68%
PPFB.DE vs. GSDE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PPFB.DE iShares Physical Gold ETC | -6.38% | 49.11% | 34.17% | 9.42% | 7.03% | 2.86% |
GSDE.DE BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR | 16.49% | 13.79% | 14.91% | -12.92% | 21.31% | 11.77% |
Correlation
The correlation between PPFB.DE and GSDE.DE is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2021 | 0.40 |
The correlation between PPFB.DE and GSDE.DE shifts across timeframes, from 0.31 (1 year) to 0.42 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
PPFB.DE vs. GSDE.DE — Risk / Return Rank
PPFB.DE
GSDE.DE
PPFB.DE vs. GSDE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (PPFB.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.
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 | GSDE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.33 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | 2.84 | -1.87 |
| Martin ratioReturn relative to average drawdown | 2.28 | 8.43 | -6.15 |
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Drawdowns
PPFB.DE vs. GSDE.DE - Drawdown Comparison
The maximum PPFB.DE drawdown since its inception was -22.54%, smaller than the maximum GSDE.DE drawdown of -91.25%. Use the drawdown chart below to compare losses from any high point for PPFB.DE and GSDE.DE.
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Drawdown Indicators
| PPFB.DE | GSDE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.54% | -91.25% | +68.71% |
Max Drawdown (1Y)Largest decline over 1 year | -22.54% | -11.90% | -10.64% |
Max Drawdown (3Y)Largest decline over 3 years | -22.54% | -15.26% | -7.28% |
Max Drawdown (5Y)Largest decline over 5 years | -22.54% | -29.70% | +7.16% |
Max Drawdown (10Y)Largest decline over 10 years | — | -91.25% | — |
Current DrawdownCurrent decline from peak | -22.54% | -77.41% | +54.87% |
Average DrawdownAverage peak-to-trough decline | -4.80% | -72.35% | +67.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.58% | 4.01% | +5.57% |
Volatility
PPFB.DE vs. GSDE.DE - Volatility Comparison
iShares Physical Gold ETC (PPFB.DE) has a higher volatility of 6.29% compared to BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (GSDE.DE) at 3.84%. This indicates that PPFB.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
| PPFB.DE | GSDE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.29% | 3.84% | +2.45% |
Volatility (6M)Calculated over the trailing 6-month period | 21.19% | 15.60% | +5.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.61% | 18.59% | +6.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.46% | 17.90% | -1.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.45% | 117.87% | -101.42% |
PPFB.DE vs. GSDE.DE - Expense Ratio Comparison
PPFB.DE has a 0.12% expense ratio, which is lower than GSDE.DE's 0.39% expense ratio.
Dividends
PPFB.DE vs. GSDE.DE - Dividend Comparison
Neither PPFB.DE nor GSDE.DE has paid dividends to shareholders.
Frequently Asked Questions
PPFB.DE and GSDE.DE have a correlation of 0.31, 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.
PPFB.DE is categorized as Gold, while GSDE.DE is Commodities. PPFB.DE tracks Gold, while GSDE.DE tracks BNP Paribas Energy & Metals Enhanced Roll. They also come from different issuers: iShares and BNP Paribas. Their fees differ too: 0.12% for PPFB.DE and 0.39% for GSDE.DE.
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