AASG.L vs. ETL2.DE
AASG.L (Amundi MSCI Emerging Markets Asia UCITS ETF USD) and ETL2.DE (L&G Longer Dated All Commodities UCITS ETF) are both exchange-traded funds - AASG.L is a Asia Pacific Equities fund tracking the MSCI AC Asia Ex Japan NR USD, while ETL2.DE is a Commodities fund tracking the Bloomberg Commodity 3 Month Forward. Both are passively managed. Over the past 10 years, AASG.L returned 12.11%/yr vs 9.23%/yr for ETL2.DE. At a 0.25 correlation, their price movements are largely independent. AASG.L charges 0.20%/yr vs 0.30%/yr for ETL2.DE.
Performance
AASG.L vs. ETL2.DE - Performance Comparison
Loading charts...
Different Trading Currencies
AASG.L is traded in GBp, while ETL2.DE is traded in EUR. To make them comparable, the ETL2.DE values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, AASG.L achieves a 30.49% return, which is significantly higher than ETL2.DE's 17.30% return. Over the past 10 years, AASG.L has outperformed ETL2.DE with an annualized return of 12.11%, while ETL2.DE has yielded a comparatively lower 9.23% annualized return.
AASG.L
- 1D
- -1.81%
- 1M
- 8.00%
- YTD
- 30.49%
- 6M
- 33.01%
- 1Y
- 59.28%
- 3Y*
- 22.95%
- 5Y*
- 8.98%
- 10Y*
- 12.11%
ETL2.DE
- 1D
- -1.12%
- 1M
- -1.29%
- YTD
- 17.30%
- 6M
- 18.43%
- 1Y
- 31.92%
- 3Y*
- 11.03%
- 5Y*
- 13.28%
- 10Y*
- 9.23%
AASG.L vs. ETL2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AASG.L Amundi MSCI Emerging Markets Asia UCITS ETF USD | 30.49% | 23.83% | 14.04% | 0.69% | -11.51% | -4.50% | 24.04% | 14.10% | -10.84% | 30.20% |
ETL2.DE L&G Longer Dated All Commodities UCITS ETF | 17.30% | 10.35% | 6.68% | -11.25% | 31.69% | 35.86% | -2.33% | 5.09% | -2.85% | -6.00% |
Correlation
The correlation between AASG.L and ETL2.DE is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2016 | 0.25 |
The correlation between AASG.L and ETL2.DE shifts across timeframes, from -0.07 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AASG.L vs. ETL2.DE — Risk / Return Rank
AASG.L
ETL2.DE
AASG.L vs. ETL2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Emerging Markets Asia UCITS ETF USD (AASG.L) and L&G Longer Dated All Commodities UCITS ETF (ETL2.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.
| AASG.L | ETL2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.12 | ||
| Sortino ratioReturn per unit of downside risk | +1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.38 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 5.15 | 4.56 | +0.58 |
| Martin ratioReturn relative to average drawdown | 17.77 | 11.23 | +6.54 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| AASG.L | ETL2.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.22 | 2.10 | +1.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 0.87 | -0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 0.64 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.25 | +0.43 |
Drawdowns
AASG.L vs. ETL2.DE - Drawdown Comparison
The maximum AASG.L drawdown since its inception was -34.12%, smaller than the maximum ETL2.DE drawdown of -50.54%. Use the drawdown chart below to compare losses from any high point for AASG.L and ETL2.DE.
Loading charts...
Drawdown Indicators
| AASG.L | ETL2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.12% | -50.54% | +16.42% |
Max Drawdown (1Y)Largest decline over 1 year | -11.46% | -6.96% | -4.50% |
Max Drawdown (3Y)Largest decline over 3 years | -17.56% | -12.97% | -4.59% |
Max Drawdown (5Y)Largest decline over 5 years | -28.57% | -23.84% | -4.73% |
Max Drawdown (10Y)Largest decline over 10 years | -34.12% | -23.89% | -10.23% |
Current DrawdownCurrent decline from peak | -2.74% | -3.66% | +0.92% |
Average DrawdownAverage peak-to-trough decline | -11.02% | -23.67% | +12.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.33% | 2.83% | +0.50% |
Volatility
AASG.L vs. ETL2.DE - Volatility Comparison
Amundi MSCI Emerging Markets Asia UCITS ETF USD (AASG.L) has a higher volatility of 8.29% compared to L&G Longer Dated All Commodities UCITS ETF (ETL2.DE) at 4.47%. This indicates that AASG.L's price experiences larger fluctuations and is considered to be riskier than ETL2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AASG.L | ETL2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.29% | 4.47% | +3.82% |
Volatility (6M)Calculated over the trailing 6-month period | 15.55% | 12.67% | +2.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.34% | 15.14% | +3.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.70% | 15.15% | +2.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.56% | 14.28% | +4.28% |
AASG.L vs. ETL2.DE - Expense Ratio Comparison
AASG.L has a 0.20% expense ratio, which is lower than ETL2.DE's 0.30% expense ratio.
Dividends
AASG.L vs. ETL2.DE - Dividend Comparison
Neither AASG.L nor ETL2.DE has paid dividends to shareholders.
Frequently Asked Questions
AASG.L and ETL2.DE have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AASG.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AASG.L is cheaper with a 0.20% expense ratio, compared with 0.30% for ETL2.DE.
AASG.L is categorized as Asia Pacific Equities, while ETL2.DE is Commodities. AASG.L tracks MSCI AC Asia Ex Japan NR USD, while ETL2.DE tracks Bloomberg Commodity 3 Month Forward. They also come from different issuers: Amundi and Legal & General. Their fees differ too: 0.20% for AASG.L and 0.30% for ETL2.DE.
Find the right allocation for AASG.L and ETL2.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer