4GLD.DE vs. GBSE.DE
4GLD.DE (Xetra-Gold) and GBSE.DE (WisdomTree Physical Gold EUR Daily Hedged) are both Gold funds - 4GLD.DE tracks the LBMA Gold Price while GBSE.DE tracks the MS Long Gold Euro Hedged. Both are passively managed. Over the past 10 years, 4GLD.DE returned 13.36%/yr vs 10.16%/yr for GBSE.DE. A 0.79 correlation means they provide meaningful diversification when combined. 4GLD.DE charges 0.00%/yr vs 0.12%/yr for GBSE.DE.
Performance
4GLD.DE vs. GBSE.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 GBSE.DE's 0.31% return. Over the past 10 years, 4GLD.DE has outperformed GBSE.DE with an annualized return of 13.36%, while GBSE.DE has yielded a comparatively lower 10.16% annualized return.
4GLD.DE
- 1D
- 0.57%
- 1M
- -1.56%
- YTD
- 2.80%
- 6M
- 6.42%
- 1Y
- 30.27%
- 3Y*
- 28.18%
- 5Y*
- 19.85%
- 10Y*
- 13.36%
GBSE.DE
- 1D
- 0.75%
- 1M
- -2.43%
- YTD
- 0.31%
- 6M
- 4.63%
- 1Y
- 28.73%
- 3Y*
- 28.22%
- 5Y*
- 15.61%
- 10Y*
- 10.16%
4GLD.DE vs. GBSE.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% |
GBSE.DE WisdomTree Physical Gold EUR Daily Hedged | 0.31% | 62.87% | 24.14% | 10.15% | -2.06% | -5.63% | 21.48% | 13.15% | -5.56% | 8.16% |
Correlation
The correlation between 4GLD.DE and GBSE.DE is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2013 | 0.79 |
The correlation between 4GLD.DE and GBSE.DE shifts across timeframes, from 0.79 (all time) to 0.93 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
4GLD.DE vs. GBSE.DE — Risk / Return Rank
4GLD.DE
GBSE.DE
4GLD.DE vs. GBSE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xetra-Gold (4GLD.DE) and WisdomTree Physical Gold EUR Daily Hedged (GBSE.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 | GBSE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.22 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 1.63 | +0.19 |
| Martin ratioReturn relative to average drawdown | 4.63 | 4.08 | +0.54 |
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 | GBSE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.31 | 1.16 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.23 | 0.90 | +0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.92 | 0.65 | +0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.31 | +0.33 |
Drawdowns
4GLD.DE vs. GBSE.DE - Drawdown Comparison
The maximum 4GLD.DE drawdown since its inception was -36.79%, roughly equal to the maximum GBSE.DE drawdown of -38.38%. Use the drawdown chart below to compare losses from any high point for 4GLD.DE and GBSE.DE.
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Drawdown Indicators
| 4GLD.DE | GBSE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.79% | -38.38% | +1.59% |
Max Drawdown (1Y)Largest decline over 1 year | -16.54% | -17.55% | +1.01% |
Max Drawdown (3Y)Largest decline over 3 years | -16.54% | -17.55% | +1.01% |
Max Drawdown (5Y)Largest decline over 5 years | -16.54% | -22.71% | +6.17% |
Max Drawdown (10Y)Largest decline over 10 years | -18.23% | -24.45% | +6.22% |
Current DrawdownCurrent decline from peak | -14.95% | -16.18% | +1.23% |
Average DrawdownAverage peak-to-trough decline | -11.83% | -18.88% | +7.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.52% | 7.02% | -0.50% |
Volatility
4GLD.DE vs. GBSE.DE - Volatility Comparison
The current volatility for Xetra-Gold (4GLD.DE) is 5.09%, while WisdomTree Physical Gold EUR Daily Hedged (GBSE.DE) has a volatility of 5.93%. This indicates that 4GLD.DE experiences smaller price fluctuations and is considered to be less risky than GBSE.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 | GBSE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.09% | 5.93% | -0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 20.09% | 21.62% | -1.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.06% | 24.64% | -1.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.00% | 17.12% | -1.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.37% | 15.50% | -1.13% |
4GLD.DE vs. GBSE.DE - Expense Ratio Comparison
4GLD.DE has a 0.00% expense ratio, which is lower than GBSE.DE's 0.12% 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. GBSE.DE - Dividend Comparison
Neither 4GLD.DE nor GBSE.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.93, 4GLD.DE and GBSE.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 0.12% for GBSE.DE.
4GLD.DE tracks LBMA Gold Price, while GBSE.DE tracks MS Long Gold Euro Hedged. They also come from different issuers: Deutsche Börse Commodities and WisdomTree. Their fees differ too: 0.00% for 4GLD.DE and 0.12% for GBSE.DE.
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