UEQU.DE vs. GSDE.DE
UEQU.DE (UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc) and GSDE.DE (BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR) are both Commodities funds - UEQU.DE tracks the UBS CMCI Ex Agriculture Ex Livestock Capped while GSDE.DE tracks the BNP Paribas Energy & Metals Enhanced Roll. Both are passively managed. Over the past 10 years, UEQU.DE returned 10.80%/yr vs 9.70%/yr for GSDE.DE. Their correlation of 0.90 suggests significant overlap in exposure. UEQU.DE charges 0.34%/yr vs 0.39%/yr for GSDE.DE.
Performance
UEQU.DE vs. GSDE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, UEQU.DE achieves a 25.53% return, which is significantly higher than GSDE.DE's 23.86% return. Over the past 10 years, UEQU.DE has outperformed GSDE.DE with an annualized return of 10.80%, while GSDE.DE has yielded a comparatively lower 9.70% annualized return.
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
- 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 vs. GSDE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
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 UEQU.DE and GSDE.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 UEQU.DE and GSDE.DE has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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Return for Risk
UEQU.DE vs. GSDE.DE — Risk / Return Rank
UEQU.DE
GSDE.DE
UEQU.DE vs. GSDE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc (UEQU.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.
| UEQU.DE | GSDE.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 | 1.46 | 1.43 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 6.29 | 5.65 | +0.65 |
| Martin ratioReturn relative to average drawdown | 15.25 | 12.60 | +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
| UEQU.DE | GSDE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.60 | 2.37 | +0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | 0.82 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 0.63 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.09 | +0.56 |
Drawdowns
UEQU.DE vs. GSDE.DE - Drawdown Comparison
The maximum UEQU.DE drawdown since its inception was -30.56%, smaller than the maximum GSDE.DE drawdown of -68.91%. Use the drawdown chart below to compare losses from any high point for UEQU.DE and GSDE.DE.
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Drawdown Indicators
| UEQU.DE | GSDE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.56% | -68.91% | +38.35% |
Max Drawdown (1Y)Largest decline over 1 year | -6.50% | -7.89% | +1.39% |
Max Drawdown (3Y)Largest decline over 3 years | -15.66% | -15.25% | -0.41% |
Max Drawdown (5Y)Largest decline over 5 years | -22.44% | -29.72% | +7.28% |
Max Drawdown (10Y)Largest decline over 10 years | -30.56% | -29.72% | -0.84% |
Current DrawdownCurrent decline from peak | -1.21% | -6.40% | +5.19% |
Average DrawdownAverage peak-to-trough decline | -8.92% | -44.09% | +35.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.69% | 3.54% | -0.85% |
Volatility
UEQU.DE vs. GSDE.DE - Volatility Comparison
The current volatility for UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (USD) A-acc (UEQU.DE) is 3.91%, while BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF EUR (GSDE.DE) has a volatility of 4.51%. This indicates that UEQU.DE experiences smaller price fluctuations and is considered to be less risky 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
| UEQU.DE | GSDE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.91% | 4.51% | -0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 13.03% | 16.35% | -3.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.73% | 18.80% | -3.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.83% | 17.84% | -1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.41% | 15.76% | +0.65% |
UEQU.DE vs. GSDE.DE - Expense Ratio Comparison
UEQU.DE has a 0.34% expense ratio, which is lower than GSDE.DE's 0.39% expense ratio.
Dividends
UEQU.DE vs. GSDE.DE - Dividend Comparison
Neither UEQU.DE nor GSDE.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, UEQU.DE and GSDE.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.
UEQU.DE tracks UBS CMCI Ex Agriculture Ex Livestock Capped, while GSDE.DE tracks BNP Paribas Energy & Metals Enhanced Roll. They also come from different issuers: UBS and BNP Paribas. Their fees differ too: 0.34% for UEQU.DE and 0.39% for GSDE.DE.
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