4GLD.DE vs. DFEN.DE
4GLD.DE (Xetra-Gold) and DFEN.DE (VanEck Defense UCITS ETF A) are both exchange-traded funds - 4GLD.DE is a Gold fund tracking the LBMA Gold Price, while DFEN.DE is a Aerospace & Defense fund tracking the MarketVector Global Defense Industry Index. Both are passively managed. Over the past 3 years, 4GLD.DE returned 26.47%/yr vs 37.43%/yr for DFEN.DE. At a 0.14 correlation, their price movements are largely independent. 4GLD.DE charges 0.00%/yr vs 0.55%/yr for DFEN.DE.
Performance
4GLD.DE vs. DFEN.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 4GLD.DE achieves a -2.63% return, which is significantly lower than DFEN.DE's 3.04% return.
4GLD.DE
- 1D
- 2.93%
- 1M
- -6.80%
- YTD
- -2.63%
- 6M
- -0.59%
- 1Y
- 23.16%
- 3Y*
- 26.47%
- 5Y*
- 18.62%
- 10Y*
- 12.28%
DFEN.DE
- 1D
- 0.60%
- 1M
- 3.18%
- YTD
- 3.04%
- 6M
- 4.46%
- 1Y
- 11.89%
- 3Y*
- 37.43%
- 5Y*
- —
- 10Y*
- —
4GLD.DE vs. DFEN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
4GLD.DE Xetra-Gold | -2.63% | 49.32% | 34.57% | 1.03% |
DFEN.DE VanEck Defense UCITS ETF A | 3.04% | 50.76% | 51.97% | 22.65% |
Correlation
The correlation between 4GLD.DE and DFEN.DE is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2023 | 0.14 |
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Return for Risk
4GLD.DE vs. DFEN.DE — Risk / Return Rank
4GLD.DE
DFEN.DE
4GLD.DE vs. DFEN.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xetra-Gold (4GLD.DE) and VanEck Defense UCITS ETF A (DFEN.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.
| 4GLD.DE | DFEN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.11 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.12 | 0.74 | +0.38 |
| Martin ratioReturn relative to average drawdown | 3.41 | 1.72 | +1.69 |
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Drawdowns
4GLD.DE vs. DFEN.DE - Drawdown Comparison
The maximum 4GLD.DE drawdown since its inception was -36.79%, which is greater than DFEN.DE's maximum drawdown of -18.88%. Use the drawdown chart below to compare losses from any high point for 4GLD.DE and DFEN.DE.
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Drawdown Indicators
| 4GLD.DE | DFEN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.79% | -18.88% | -17.91% |
Max Drawdown (1Y)Largest decline over 1 year | -21.73% | -18.88% | -2.85% |
Max Drawdown (3Y)Largest decline over 3 years | -21.73% | -18.88% | -2.85% |
Max Drawdown (5Y)Largest decline over 5 years | -21.73% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -21.73% | — | — |
Current DrawdownCurrent decline from peak | -19.44% | -16.01% | -3.43% |
Average DrawdownAverage peak-to-trough decline | -12.03% | -3.25% | -8.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.11% | 8.15% | -1.04% |
Volatility
4GLD.DE vs. DFEN.DE - Volatility Comparison
The current volatility for Xetra-Gold (4GLD.DE) is 6.93%, while VanEck Defense UCITS ETF A (DFEN.DE) has a volatility of 7.34%. This indicates that 4GLD.DE experiences smaller price fluctuations and is considered to be less risky than DFEN.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 | DFEN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.93% | 7.34% | -0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 20.81% | 19.34% | +1.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.70% | 25.01% | -1.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.29% | 21.22% | -4.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.56% | 21.22% | -6.66% |
4GLD.DE vs. DFEN.DE - Expense Ratio Comparison
4GLD.DE has a 0.00% expense ratio, which is lower than DFEN.DE's 0.55% expense ratio.
Dividends
4GLD.DE vs. DFEN.DE - Dividend Comparison
Neither 4GLD.DE nor DFEN.DE has paid dividends to shareholders.
Frequently Asked Questions
4GLD.DE and DFEN.DE have a correlation of 0.23, 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 0.55% for DFEN.DE.
4GLD.DE is categorized as Gold, while DFEN.DE is Aerospace & Defense. 4GLD.DE tracks LBMA Gold Price, while DFEN.DE tracks MarketVector Global Defense Industry Index. They also come from different issuers: Deutsche Börse Commodities and VanEck. Their fees differ too: 0.00% for 4GLD.DE and 0.55% for DFEN.DE.
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