8PSE.DE vs. 4GLD.DE
8PSE.DE (Invesco Physical Gold (EUR Hedged) ETC) and 4GLD.DE (Xetra-Gold) are both Gold funds - 8PSE.DE tracks the LBMA Gold Price PM (EUR Hedged) while 4GLD.DE tracks the LBMA Gold Price. Both are passively managed. Over the past 5 years, 8PSE.DE returned 15.46%/yr vs 19.85%/yr for 4GLD.DE. Their correlation of 0.84 suggests significant overlap in exposure. 8PSE.DE charges 0.34%/yr vs 0.00%/yr for 4GLD.DE.
Performance
8PSE.DE vs. 4GLD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 8PSE.DE achieves a 0.15% return, which is significantly lower than 4GLD.DE's 2.80% return.
8PSE.DE
- 1D
- 0.72%
- 1M
- -2.51%
- YTD
- 0.15%
- 6M
- 4.45%
- 1Y
- 28.47%
- 3Y*
- 28.08%
- 5Y*
- 15.46%
- 10Y*
- —
4GLD.DE
- 1D
- 0.57%
- 1M
- -3.60%
- YTD
- 2.80%
- 6M
- 6.23%
- 1Y
- 31.21%
- 3Y*
- 28.18%
- 5Y*
- 19.85%
- 10Y*
- 13.36%
8PSE.DE vs. 4GLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
8PSE.DE Invesco Physical Gold (EUR Hedged) ETC | 0.15% | 62.78% | 24.11% | 10.00% | -2.18% | -5.81% | 2.14% |
4GLD.DE Xetra-Gold | 2.80% | 49.32% | 34.57% | 9.32% | 7.12% | 4.03% | -3.52% |
Correlation
The correlation between 8PSE.DE and 4GLD.DE is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2020 | 0.84 |
The correlation between 8PSE.DE and 4GLD.DE has been stable across timeframes, ranging from 0.83 to 0.88 - a consistent structural relationship.
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Return for Risk
8PSE.DE vs. 4GLD.DE — Risk / Return Rank
8PSE.DE
4GLD.DE
8PSE.DE vs. 4GLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE) and Xetra-Gold (4GLD.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.
| 8PSE.DE | 4GLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.26 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 0.56 | 1.82 | -1.26 |
| Martin ratioReturn relative to average drawdown | 2.31 | 4.63 | -2.31 |
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
| 8PSE.DE | 4GLD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.16 | 1.31 | -1.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 1.23 | -1.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.92 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | 0.65 | -0.48 |
Drawdowns
8PSE.DE vs. 4GLD.DE - Drawdown Comparison
The maximum 8PSE.DE drawdown since its inception was -50.81%, which is greater than 4GLD.DE's maximum drawdown of -36.79%. Use the drawdown chart below to compare losses from any high point for 8PSE.DE and 4GLD.DE.
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Drawdown Indicators
| 8PSE.DE | 4GLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.81% | -36.79% | -14.02% |
Max Drawdown (1Y)Largest decline over 1 year | -50.81% | -16.54% | -34.27% |
Max Drawdown (3Y)Largest decline over 3 years | -50.81% | -16.54% | -34.27% |
Max Drawdown (5Y)Largest decline over 5 years | -50.81% | -16.54% | -34.27% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.23% | — |
Current DrawdownCurrent decline from peak | -16.31% | -14.95% | -1.36% |
Average DrawdownAverage peak-to-trough decline | -10.13% | -11.83% | +1.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.27% | 6.52% | +5.75% |
Volatility
8PSE.DE vs. 4GLD.DE - Volatility Comparison
Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE) has a higher volatility of 5.95% compared to Xetra-Gold (4GLD.DE) at 5.09%. This indicates that 8PSE.DE's price experiences larger fluctuations and is considered to be riskier than 4GLD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 8PSE.DE | 4GLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.95% | 5.09% | +0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 71.01% | 20.09% | +50.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 181.73% | 23.06% | +158.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 87.63% | 16.00% | +71.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.06% | 14.37% | +66.69% |
8PSE.DE vs. 4GLD.DE - Expense Ratio Comparison
8PSE.DE has a 0.34% expense ratio, which is higher than 4GLD.DE's 0.00% expense ratio.
Dividends
8PSE.DE vs. 4GLD.DE - Dividend Comparison
Neither 8PSE.DE nor 4GLD.DE has paid dividends to shareholders.
Frequently Asked Questions
8PSE.DE and 4GLD.DE have a correlation of 0.88, 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 0.34% for 8PSE.DE.
8PSE.DE tracks LBMA Gold Price PM (EUR Hedged), while 4GLD.DE tracks LBMA Gold Price. They also come from different issuers: Invesco and Deutsche Börse Commodities. Their fees differ too: 0.34% for 8PSE.DE and 0.00% for 4GLD.DE.
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