BNP Paribas Easy Energy & Metals Enhanced Roll
GSDE.F
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- BNP Paribas Easy Energy & Metals Enhanced Roll UCITS ETF (ticker: GSDE.F) is an exchange-traded fund that seeks to replicate the performance of the BNP Paribas Energy & Metals Enhanced Roll (TR) index (Bloomberg: BNPIC52T), providing investors with synthetic exposure to a diversified basket of commodities including industrial metals, precious metals, and energy products; the index employs an enhanced roll strategy to manage futures contract rollovers for optimized total return. Launched in April 2016 and domiciled in Luxembourg, the ETF is managed by BNP Paribas Asset Management Luxembourg as part of the BNP Paribas Easy SICAV umbrella and uses unfunded swap-based synthetic replication to track the USD-denominated index with a maximum tracking error of 1%, featuring an accumulating distribution policy, a total expense ratio of 0.39%, and currency unhedged exposure. The fund, with assets under management around EUR 106 million, trades on multiple European exchanges including Deutsche Boerse, Euronext Paris, and others under various share classes such as LU1291109533 and LU1291109616, targeting institutional and retail investors seeking commodities diversification without physical delivery. Geographically, it operates primarily in Europe, available for sale in countries including France, Germany, Italy, Luxembourg, Netherlands, Spain, and Switzerland. In a significant recent development, BNP Paribas Asset Management completed the acquisition of AXA Investment Managers in July 2025, integrating approximately EUR 3.1 billion in additional ETF assets and enhancing BNP Paribas Easy's product range and European market position as the ninth-largest ETF promoter, despite minimal product overlap with the existing lineup. No other major acquisitions, partnerships, funding rounds, product launches, or strategic shifts specific to this ETF have been reported in the last 1-2 years.