4GLD.DE vs. GLCC.TO
4GLD.DE (Xetra-Gold) and GLCC.TO (Global X Gold Producer Equity Covered Call ETF) are both exchange-traded funds - 4GLD.DE is a Gold fund tracking the LBMA Gold Price, while GLCC.TO is a Derivative Income fund actively managed by Global X. 4GLD.DE is passively managed, while GLCC.TO is actively managed. Over the past 10 years, 4GLD.DE returned 13.36%/yr vs 13.58%/yr for GLCC.TO. A 0.53 correlation means they provide meaningful diversification when combined. 4GLD.DE charges 0.00%/yr vs 0.79%/yr for GLCC.TO.
Performance
4GLD.DE vs. GLCC.TO - Performance Comparison
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Different Trading Currencies
4GLD.DE is traded in EUR, while GLCC.TO is traded in CAD. To make them comparable, the GLCC.TO 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 2.80% return, which is significantly higher than GLCC.TO's 1.51% return. Both investments have delivered pretty close results over the past 10 years, with 4GLD.DE having a 13.36% annualized return and GLCC.TO not far ahead at 13.58%.
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%
GLCC.TO
- 1D
- 1.89%
- 1M
- 2.19%
- YTD
- 1.51%
- 6M
- 7.02%
- 1Y
- 58.28%
- 3Y*
- 36.54%
- 5Y*
- 19.53%
- 10Y*
- 13.58%
4GLD.DE vs. GLCC.TO - 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% |
GLCC.TO Global X Gold Producer Equity Covered Call ETF | 1.51% | 119.28% | 18.00% | 5.35% | -2.69% | -1.88% | 7.63% | 48.94% | -3.81% | 0.63% |
Correlation
The correlation between 4GLD.DE and GLCC.TO is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2011 | 0.53 |
The correlation between 4GLD.DE and GLCC.TO shifts across timeframes, from 0.53 (all time) to 0.64 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
4GLD.DE vs. GLCC.TO — Risk / Return Rank
4GLD.DE
GLCC.TO
4GLD.DE vs. GLCC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xetra-Gold (4GLD.DE) and Global X Gold Producer Equity Covered Call ETF (GLCC.TO). 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 | GLCC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.26 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 2.07 | -0.25 |
| Martin ratioReturn relative to average drawdown | 4.63 | 5.52 | -0.89 |
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 | GLCC.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.31 | 1.43 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.23 | 0.61 | +0.61 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.92 | 0.42 | +0.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.00 | +0.65 |
Drawdowns
4GLD.DE vs. GLCC.TO - Drawdown Comparison
The maximum 4GLD.DE drawdown since its inception was -36.79%, smaller than the maximum GLCC.TO drawdown of -73.26%. Use the drawdown chart below to compare losses from any high point for 4GLD.DE and GLCC.TO.
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Drawdown Indicators
| 4GLD.DE | GLCC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.79% | -73.26% | +36.47% |
Max Drawdown (1Y)Largest decline over 1 year | -16.54% | -28.30% | +11.76% |
Max Drawdown (3Y)Largest decline over 3 years | -16.54% | -28.30% | +11.76% |
Max Drawdown (5Y)Largest decline over 5 years | -16.54% | -35.37% | +18.83% |
Max Drawdown (10Y)Largest decline over 10 years | -18.23% | -42.06% | +23.83% |
Current DrawdownCurrent decline from peak | -14.95% | -22.50% | +7.55% |
Average DrawdownAverage peak-to-trough decline | -11.83% | -37.30% | +25.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.52% | 10.60% | -4.08% |
Volatility
4GLD.DE vs. GLCC.TO - Volatility Comparison
The current volatility for Xetra-Gold (4GLD.DE) is 5.09%, while Global X Gold Producer Equity Covered Call ETF (GLCC.TO) has a volatility of 14.47%. This indicates that 4GLD.DE experiences smaller price fluctuations and is considered to be less risky than GLCC.TO 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 | GLCC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.09% | 14.47% | -9.38% |
Volatility (6M)Calculated over the trailing 6-month period | 20.09% | 33.57% | -13.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.06% | 41.10% | -18.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.00% | 32.01% | -16.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.37% | 32.14% | -17.77% |
4GLD.DE vs. GLCC.TO - Expense Ratio Comparison
4GLD.DE has a 0.00% expense ratio, which is lower than GLCC.TO's 0.79% expense ratio.
Dividends
4GLD.DE vs. GLCC.TO - Dividend Comparison
4GLD.DE has not paid dividends to shareholders, while GLCC.TO's dividend yield for the trailing twelve months is around 8.51%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
4GLD.DE Xetra-Gold | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GLCC.TO Global X Gold Producer Equity Covered Call ETF | 8.51% | 6.01% | 10.30% | 11.16% | 10.08% | 6.31% | 6.47% | 4.58% | 5.62% | 7.09% | 9.21% | 11.63% |
Frequently Asked Questions
4GLD.DE and GLCC.TO have a correlation of 0.64, 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 0.79% for GLCC.TO.
4GLD.DE is categorized as Gold, while GLCC.TO is Derivative Income. They also come from different issuers: Deutsche Börse Commodities and Global X. Their fees differ too: 0.00% for 4GLD.DE and 0.79% for GLCC.TO.
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