4GLD.DE vs. IBCA.DE
4GLD.DE (Xetra-Gold) and IBCA.DE (iShares Euro Government Bond 1-3yr UCITS ETF (Dist)) are both exchange-traded funds - 4GLD.DE is a Gold fund tracking the LBMA Gold Price, while IBCA.DE is a European Government Bonds fund tracking the Bloomberg Euro Government Bond 1-3. Both are passively managed. Over the past 10 years, 4GLD.DE returned 12.28%/yr vs 0.40%/yr for IBCA.DE. At a 0.11 correlation, their price movements are largely independent. 4GLD.DE charges 0.00%/yr vs 0.15%/yr for IBCA.DE.
Performance
4GLD.DE vs. IBCA.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 IBCA.DE's 0.27% return. Over the past 10 years, 4GLD.DE has outperformed IBCA.DE with an annualized return of 12.28%, while IBCA.DE has yielded a comparatively lower 0.40% annualized return.
4GLD.DE
- 1D
- 2.93%
- 1M
- -9.07%
- YTD
- -2.63%
- 6M
- -0.59%
- 1Y
- 24.49%
- 3Y*
- 26.47%
- 5Y*
- 18.62%
- 10Y*
- 12.28%
IBCA.DE
- 1D
- 0.11%
- 1M
- 0.38%
- YTD
- 0.27%
- 6M
- 0.45%
- 1Y
- 1.04%
- 3Y*
- 2.75%
- 5Y*
- 0.83%
- 10Y*
- 0.40%
4GLD.DE vs. IBCA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
4GLD.DE Xetra-Gold | -2.63% | 49.32% | 34.57% | 9.33% | 7.12% | 4.03% | 13.03% | 21.27% | 3.19% | -1.67% |
IBCA.DE iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 0.27% | 2.32% | 3.06% | 3.49% | -4.26% | -0.84% | -0.15% | 0.14% | -0.27% | 0.02% |
Correlation
The correlation between 4GLD.DE and IBCA.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 | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2009 | 0.11 |
The correlation between 4GLD.DE and IBCA.DE shifts across timeframes, from 0.11 (all time) to 0.24 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
4GLD.DE vs. IBCA.DE — Risk / Return Rank
4GLD.DE
IBCA.DE
4GLD.DE vs. IBCA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xetra-Gold (4GLD.DE) and iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.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 | IBCA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.16 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.12 | 0.91 | +0.21 |
| Martin ratioReturn relative to average drawdown | 3.41 | 2.86 | +0.55 |
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Drawdowns
4GLD.DE vs. IBCA.DE - Drawdown Comparison
The maximum 4GLD.DE drawdown since its inception was -36.79%, which is greater than IBCA.DE's maximum drawdown of -8.31%. Use the drawdown chart below to compare losses from any high point for 4GLD.DE and IBCA.DE.
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Drawdown Indicators
| 4GLD.DE | IBCA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.79% | -8.31% | -28.48% |
Max Drawdown (1Y)Largest decline over 1 year | -21.73% | -1.14% | -20.59% |
Max Drawdown (3Y)Largest decline over 3 years | -21.73% | -1.14% | -20.59% |
Max Drawdown (5Y)Largest decline over 5 years | -21.73% | -5.21% | -16.52% |
Max Drawdown (10Y)Largest decline over 10 years | -21.73% | -8.31% | -13.42% |
Current DrawdownCurrent decline from peak | -19.44% | -0.34% | -19.10% |
Average DrawdownAverage peak-to-trough decline | -12.03% | -0.84% | -11.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.11% | 0.36% | +6.75% |
Volatility
4GLD.DE vs. IBCA.DE - Volatility Comparison
Xetra-Gold (4GLD.DE) has a higher volatility of 6.93% compared to iShares Euro Government Bond 1-3yr UCITS ETF (Dist) (IBCA.DE) at 0.63%. This indicates that 4GLD.DE's price experiences larger fluctuations and is considered to be riskier than IBCA.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 | IBCA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.93% | 0.63% | +6.30% |
Volatility (6M)Calculated over the trailing 6-month period | 20.81% | 1.30% | +19.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.70% | 1.38% | +22.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.29% | 1.56% | +14.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.56% | 3.81% | +10.75% |
4GLD.DE vs. IBCA.DE - Expense Ratio Comparison
4GLD.DE has a 0.00% expense ratio, which is lower than IBCA.DE's 0.15% 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. IBCA.DE - Dividend Comparison
4GLD.DE has not paid dividends to shareholders, while IBCA.DE's dividend yield for the trailing twelve months is around 2.18%.
| 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% |
IBCA.DE iShares Euro Government Bond 1-3yr UCITS ETF (Dist) | 2.18% | 2.45% | 2.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.04% | 0.29% |
Frequently Asked Questions
4GLD.DE and IBCA.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 0.15% for IBCA.DE.
4GLD.DE is categorized as Gold, while IBCA.DE is European Government Bonds. 4GLD.DE tracks LBMA Gold Price, while IBCA.DE tracks Bloomberg Euro Government Bond 1-3. They also come from different issuers: Deutsche Börse Commodities and iShares. Their fees differ too: 0.00% for 4GLD.DE and 0.15% for IBCA.DE.
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