4GLD.DE vs. DBZB.DE
4GLD.DE (Xetra-Gold) and DBZB.DE (Xtrackers II Global Government Bond UCITS ETF EUR Hedged) are both exchange-traded funds - 4GLD.DE is a Gold fund tracking the LBMA Gold Price, while DBZB.DE is a Global Bonds fund tracking the FTSE World Government Bond - Developed Markets (EUR Hedged). Both are passively managed. Over the past 10 years, 4GLD.DE returned 13.36%/yr vs -0.99%/yr for DBZB.DE. At a 0.20 correlation, their price movements are largely independent. 4GLD.DE charges 0.00%/yr vs 0.25%/yr for DBZB.DE.
Performance
4GLD.DE vs. DBZB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 4GLD.DE achieves a 2.80% return, which is significantly higher than DBZB.DE's -0.71% return. Over the past 10 years, 4GLD.DE has outperformed DBZB.DE with an annualized return of 13.36%, while DBZB.DE has yielded a comparatively lower -0.99% annualized return.
4GLD.DE
- 1D
- 0.57%
- 1M
- -3.86%
- YTD
- 2.80%
- 6M
- 6.64%
- 1Y
- 31.48%
- 3Y*
- 28.18%
- 5Y*
- 19.85%
- 10Y*
- 13.36%
DBZB.DE
- 1D
- 0.15%
- 1M
- -0.18%
- YTD
- -0.71%
- 6M
- -0.56%
- 1Y
- 0.09%
- 3Y*
- 0.76%
- 5Y*
- -2.54%
- 10Y*
- -0.99%
4GLD.DE vs. DBZB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
4GLD.DE Xetra-Gold | 2.80% | 49.32% | 34.57% | 9.32% | 7.12% | 4.03% | 13.05% | 21.25% | 3.20% | -1.67% |
DBZB.DE Xtrackers II Global Government Bond UCITS ETF EUR Hedged | -0.71% | 1.28% | -0.41% | 3.56% | -15.11% | -3.19% | 4.16% | 4.55% | -0.36% | -0.12% |
Correlation
The correlation between 4GLD.DE and DBZB.DE is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2009 | 0.20 |
The correlation between 4GLD.DE and DBZB.DE shifts across timeframes, from 0.15 (3 years) to 0.26 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
4GLD.DE vs. DBZB.DE — Risk / Return Rank
4GLD.DE
DBZB.DE
4GLD.DE vs. DBZB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xetra-Gold (4GLD.DE) and Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.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.
| 4GLD.DE | DBZB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.32 | ||
| Sortino ratioReturn per unit of downside risk | +1.75 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.00 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | -0.01 | +1.84 |
| Martin ratioReturn relative to average drawdown | 4.63 | -0.04 | +4.67 |
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
| 4GLD.DE | DBZB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.31 | -0.01 | +1.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.23 | -0.47 | +1.69 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.92 | -0.21 | +1.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.22 | +0.43 |
Drawdowns
4GLD.DE vs. DBZB.DE - Drawdown Comparison
The maximum 4GLD.DE drawdown since its inception was -36.79%, which is greater than DBZB.DE's maximum drawdown of -21.88%. Use the drawdown chart below to compare losses from any high point for 4GLD.DE and DBZB.DE.
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Drawdown Indicators
| 4GLD.DE | DBZB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.79% | -21.88% | -14.91% |
Max Drawdown (1Y)Largest decline over 1 year | -16.54% | -3.52% | -13.02% |
Max Drawdown (3Y)Largest decline over 3 years | -16.54% | -5.14% | -11.40% |
Max Drawdown (5Y)Largest decline over 5 years | -16.54% | -19.51% | +2.97% |
Max Drawdown (10Y)Largest decline over 10 years | -18.23% | -21.88% | +3.65% |
Current DrawdownCurrent decline from peak | -14.95% | -16.44% | +1.49% |
Average DrawdownAverage peak-to-trough decline | -11.83% | -5.97% | -5.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.52% | 1.26% | +5.26% |
Volatility
4GLD.DE vs. DBZB.DE - Volatility Comparison
Xetra-Gold (4GLD.DE) has a higher volatility of 5.09% compared to Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.DE) at 1.48%. This indicates that 4GLD.DE's price experiences larger fluctuations and is considered to be riskier than DBZB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 4GLD.DE | DBZB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.09% | 1.48% | +3.61% |
Volatility (6M)Calculated over the trailing 6-month period | 20.09% | 3.06% | +17.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.06% | 3.86% | +19.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.00% | 5.37% | +10.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.37% | 4.74% | +9.63% |
4GLD.DE vs. DBZB.DE - Expense Ratio Comparison
4GLD.DE has a 0.00% expense ratio, which is lower than DBZB.DE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
4GLD.DE vs. DBZB.DE - Dividend Comparison
Neither 4GLD.DE nor DBZB.DE has paid dividends to shareholders.
Frequently Asked Questions
4GLD.DE and DBZB.DE have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 4GLD.DE is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
4GLD.DE is cheaper with a 0.00% expense ratio, compared with 0.25% for DBZB.DE.
4GLD.DE is categorized as Gold, while DBZB.DE is Global Bonds. 4GLD.DE tracks LBMA Gold Price, while DBZB.DE tracks FTSE World Government Bond - Developed Markets (EUR Hedged). They also come from different issuers: Deutsche Börse Commodities and Xtrackers. Their fees differ too: 0.00% for 4GLD.DE and 0.25% for DBZB.DE.
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