4GLD.DE vs. DFEU.L

Last updated Jun 13, 2026

4GLD.DE (Xetra-Gold) and DFEU.L (iShares Europe Defence UCITS ETF EUR Accumulating) are both exchange-traded funds - 4GLD.DE is a Gold fund tracking the LBMA Gold Price, while DFEU.L is a Aerospace & Defense fund tracking the STOXX Europe Targeted Defence Index. Both are passively managed. At a 0.23 correlation, their price movements are largely independent. 4GLD.DE charges 0.00%/yr vs 0.35%/yr for DFEU.L.

Performance

4GLD.DE vs. DFEU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Xetra-Gold (4GLD.DE) and iShares Europe Defence UCITS ETF EUR Accumulating (DFEU.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

4GLD.DE is traded in EUR, while DFEU.L is traded in GBP. To make them comparable, the DFEU.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, 4GLD.DE achieves a -2.63% return, which is significantly lower than DFEU.L's 4.78% return.

4GLD.DE

• 1D: 2.93%
• 1M: -9.21%
• YTD: -2.63%
• 6M: -0.59%
• 1Y: 23.16%
• 3Y*: 26.47%
• 5Y*: 18.62%
• 10Y*: 12.28%

DFEU.L

• 1D: 0.00%
• 1M: 5.69%
• YTD: 4.78%
• 6M: 6.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

4GLD.DE vs. DFEU.L - Yearly Performance Comparison

	2026 (YTD)	2025
4GLD.DE Xetra-Gold	-2.63%	32.32%
DFEU.L iShares Europe Defence UCITS ETF EUR Accumulating	4.78%	-15.55%

Correlation

The correlation between 4GLD.DE and DFEU.L is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 7, 2025	0.23

Return for Risk

4GLD.DE vs. DFEU.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

4GLD.DE

4GLD.DE Risk / Return Rank: 30
4GLD.DE Sharpe Ratio Rank: 32
4GLD.DE Sortino Ratio Rank: 29
4GLD.DE Omega Ratio Rank: 34
4GLD.DE Calmar Ratio Rank: 26
4GLD.DE Martin Ratio Rank: 28

DFEU.L

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

4GLD.DE vs. DFEU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xetra-Gold (4GLD.DE) and iShares Europe Defence UCITS ETF EUR Accumulating (DFEU.L). 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	DFEU.L	Difference
Sharpe ratio: Return per unit of total volatility	1.03	—	—
Sortino ratio: Return per unit of downside risk	1.43	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	1.12	—	—
Martin ratio: Return relative to average drawdown	3.41	—	—

Drawdowns

4GLD.DE vs. DFEU.L - Drawdown Comparison

The maximum 4GLD.DE drawdown since its inception was -36.79%, which is greater than DFEU.L's maximum drawdown of -24.20%. Use the drawdown chart below to compare losses from any high point for 4GLD.DE and DFEU.L.

Drawdown Indicators

	4GLD.DE	DFEU.L	Difference
Max Drawdown Largest peak-to-trough decline	-36.79%	-24.20%	-12.59%
Max Drawdown (1Y) Largest decline over 1 year	-21.73%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-21.73%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.73%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-21.73%	—	—
Current Drawdown Current decline from peak	-19.44%	-13.66%	-5.78%
Average Drawdown Average peak-to-trough decline	-12.03%	-11.43%	-0.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.11%	—	—

Volatility

Volatility by Period

	4GLD.DE	DFEU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.93%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.81%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	23.70%	38.88%	-15.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.29%	38.88%	-22.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.56%	38.88%	-24.32%

4GLD.DE vs. DFEU.L - Expense Ratio Comparison

4GLD.DE has a 0.00% expense ratio, which is lower than DFEU.L's 0.35% expense ratio.

Dividends

4GLD.DE vs. DFEU.L - Dividend Comparison

Neither 4GLD.DE nor DFEU.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both 4GLD.DE and DFEU.L in my portfolio?

4GLD.DE and DFEU.L 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.

Which ETF is better, 4GLD.DE or DFEU.L?

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.

Which ETF is cheaper, 4GLD.DE or DFEU.L?

4GLD.DE is cheaper with a 0.00% expense ratio, compared with 0.35% for DFEU.L.

What is the main difference between 4GLD.DE and DFEU.L?

4GLD.DE is categorized as Gold, while DFEU.L is Aerospace & Defense. 4GLD.DE tracks LBMA Gold Price, while DFEU.L tracks STOXX Europe Targeted Defence Index. They also come from different issuers: Deutsche Börse Commodities and iShares. Their fees differ too: 0.00% for 4GLD.DE and 0.35% for DFEU.L.