4GLD.DE vs. ETLX.DE
4GLD.DE (Xetra-Gold) and ETLX.DE (L&G Gold Mining UCITS ETF) are both Gold funds - 4GLD.DE tracks the LBMA Gold Price while ETLX.DE tracks the DAXglobal® Gold Miners. Both are passively managed. Over the past 10 years, 4GLD.DE returned 11.41%/yr vs 13.24%/yr for ETLX.DE. A 0.69 correlation means they provide meaningful diversification when combined. 4GLD.DE charges 0.00%/yr vs 0.65%/yr for ETLX.DE.
Performance
4GLD.DE vs. ETLX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 4GLD.DE achieves a -5.56% return, which is significantly higher than ETLX.DE's -11.01% return. Over the past 10 years, 4GLD.DE has underperformed ETLX.DE with an annualized return of 11.41%, while ETLX.DE has yielded a comparatively higher 13.24% annualized return.
4GLD.DE
- 1D
- 0.16%
- 1M
- -8.84%
- YTD
- -5.56%
- 6M
- -7.28%
- 1Y
- 23.59%
- 3Y*
- 26.05%
- 5Y*
- 18.84%
- 10Y*
- 11.41%
ETLX.DE
- 1D
- 2.13%
- 1M
- -10.68%
- YTD
- -11.01%
- 6M
- -13.14%
- 1Y
- 54.70%
- 3Y*
- 45.22%
- 5Y*
- 23.98%
- 10Y*
- 13.24%
4GLD.DE vs. ETLX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
4GLD.DE Xetra-Gold | -5.56% | 49.32% | 34.57% | 9.33% | 7.12% | 4.03% | 13.03% | 21.27% | 3.19% | -1.67% |
ETLX.DE L&G Gold Mining UCITS ETF | -11.01% | 152.51% | 27.45% | 11.01% | -7.07% | -3.33% | 12.25% | 42.55% | -5.79% | -3.18% |
Correlation
The correlation between 4GLD.DE and ETLX.DE is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2009 | 0.69 |
The correlation between 4GLD.DE and ETLX.DE has been stable across timeframes, ranging from 0.69 to 0.79 - a consistent structural relationship.
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Return for Risk
4GLD.DE vs. ETLX.DE — Risk / Return Rank
4GLD.DE
ETLX.DE
4GLD.DE vs. ETLX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xetra-Gold (4GLD.DE) and L&G Gold Mining UCITS ETF (ETLX.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 | ETLX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.21 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.07 | 1.57 | -0.50 |
| Martin ratioReturn relative to average drawdown | 2.97 | 4.06 | -1.09 |
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Drawdowns
4GLD.DE vs. ETLX.DE - Drawdown Comparison
The maximum 4GLD.DE drawdown since its inception was -36.79%, smaller than the maximum ETLX.DE drawdown of -73.44%. Use the drawdown chart below to compare losses from any high point for 4GLD.DE and ETLX.DE.
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Drawdown Indicators
| 4GLD.DE | ETLX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.79% | -73.44% | +36.65% |
Max Drawdown (1Y)Largest decline over 1 year | -21.99% | -34.64% | +12.65% |
Max Drawdown (3Y)Largest decline over 3 years | -21.99% | -34.64% | +12.65% |
Max Drawdown (5Y)Largest decline over 5 years | -21.99% | -42.01% | +20.02% |
Max Drawdown (10Y)Largest decline over 10 years | -21.99% | -47.06% | +25.07% |
Current DrawdownCurrent decline from peak | -21.86% | -31.42% | +9.56% |
Average DrawdownAverage peak-to-trough decline | -12.04% | -34.39% | +22.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.92% | 13.42% | -5.50% |
Volatility
4GLD.DE vs. ETLX.DE - Volatility Comparison
The current volatility for Xetra-Gold (4GLD.DE) is 8.02%, while L&G Gold Mining UCITS ETF (ETLX.DE) has a volatility of 18.05%. This indicates that 4GLD.DE experiences smaller price fluctuations and is considered to be less risky than ETLX.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 | ETLX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.02% | 18.05% | -10.03% |
Volatility (6M)Calculated over the trailing 6-month period | 21.36% | 37.79% | -16.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.03% | 47.47% | -23.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.39% | 36.52% | -20.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.46% | 33.99% | -19.53% |
4GLD.DE vs. ETLX.DE - Expense Ratio Comparison
4GLD.DE has a 0.00% expense ratio, which is lower than ETLX.DE's 0.65% expense ratio.
Dividends
4GLD.DE vs. ETLX.DE - Dividend Comparison
Neither 4GLD.DE nor ETLX.DE has paid dividends to shareholders.
Frequently Asked Questions
4GLD.DE and ETLX.DE have a correlation of 0.79, 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 0.65% for ETLX.DE.
4GLD.DE tracks LBMA Gold Price, while ETLX.DE tracks DAXglobal® Gold Miners. They also come from different issuers: Deutsche Börse Commodities and Legal & General. Their fees differ too: 0.00% for 4GLD.DE and 0.65% for ETLX.DE.
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