ASWC.DE vs. ETL2.DE
ASWC.DE (HANetf Future of Defence UCITS ETF Acc EUR) and ETL2.DE (L&G Longer Dated All Commodities UCITS ETF) are both exchange-traded funds - ASWC.DE is a Aerospace & Defense fund tracking the EQM Future of Defence Index, while ETL2.DE is a Commodities fund tracking the Bloomberg Commodity 3 Month Forward. Both are passively managed. Over the past year, ASWC.DE returned 17.13% vs 28.45% for ETL2.DE. At a 0.17 correlation, their price movements are largely independent. ASWC.DE charges 0.49%/yr vs 0.30%/yr for ETL2.DE.
Performance
ASWC.DE vs. ETL2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ASWC.DE achieves a 13.04% return, which is significantly lower than ETL2.DE's 18.23% return.
ASWC.DE
- 1D
- -0.80%
- 1M
- 8.16%
- YTD
- 13.04%
- 6M
- 14.70%
- 1Y
- 17.13%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ETL2.DE
- 1D
- -1.24%
- 1M
- -1.51%
- YTD
- 18.23%
- 6M
- 19.58%
- 1Y
- 28.45%
- 3Y*
- 10.87%
- 5Y*
- 13.12%
- 10Y*
- 8.17%
ASWC.DE vs. ETL2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ASWC.DE HANetf Future of Defence UCITS ETF Acc EUR | 13.04% | 38.30% | 39.36% | 14.35% |
ETL2.DE L&G Longer Dated All Commodities UCITS ETF | 18.23% | 4.89% | 11.54% | -1.15% |
Correlation
The correlation between ASWC.DE and ETL2.DE is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jul 5, 2023 | 0.17 |
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Return for Risk
ASWC.DE vs. ETL2.DE — Risk / Return Rank
ASWC.DE
ETL2.DE
ASWC.DE vs. ETL2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HANetf Future of Defence UCITS ETF Acc EUR (ASWC.DE) 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.
| ASWC.DE | ETL2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.33 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 3.59 | -2.23 |
| Martin ratioReturn relative to average drawdown | 3.10 | 8.20 | -5.10 |
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
| ASWC.DE | ETL2.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 1.87 | -1.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.84 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.91 | 0.25 | +1.65 |
Drawdowns
ASWC.DE vs. ETL2.DE - Drawdown Comparison
The maximum ASWC.DE drawdown since its inception was -12.58%, smaller than the maximum ETL2.DE drawdown of -47.04%. Use the drawdown chart below to compare losses from any high point for ASWC.DE and ETL2.DE.
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Drawdown Indicators
| ASWC.DE | ETL2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.58% | -47.04% | +34.46% |
Max Drawdown (1Y)Largest decline over 1 year | -12.58% | -7.90% | -4.68% |
Max Drawdown (3Y)Largest decline over 3 years | — | -15.06% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.27% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.50% | — |
Current DrawdownCurrent decline from peak | -2.83% | -3.57% | +0.74% |
Average DrawdownAverage peak-to-trough decline | -2.47% | -21.90% | +19.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.51% | 3.46% | +2.05% |
Volatility
ASWC.DE vs. ETL2.DE - Volatility Comparison
HANetf Future of Defence UCITS ETF Acc EUR (ASWC.DE) has a higher volatility of 5.89% compared to L&G Longer Dated All Commodities UCITS ETF (ETL2.DE) at 4.60%. This indicates that ASWC.DE'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.
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Volatility by Period
| ASWC.DE | ETL2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.89% | 4.60% | +1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 15.89% | 12.74% | +3.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.35% | 15.15% | +5.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.12% | 15.44% | +3.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.12% | 13.69% | +5.43% |
ASWC.DE vs. ETL2.DE - Expense Ratio Comparison
ASWC.DE has a 0.49% expense ratio, which is higher than ETL2.DE's 0.30% expense ratio.
Dividends
ASWC.DE vs. ETL2.DE - Dividend Comparison
Neither ASWC.DE nor ETL2.DE has paid dividends to shareholders.
Frequently Asked Questions
ASWC.DE and ETL2.DE have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ETL2.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETL2.DE is cheaper with a 0.30% expense ratio, compared with 0.49% for ASWC.DE.
ASWC.DE is categorized as Aerospace & Defense, while ETL2.DE is Commodities. ASWC.DE tracks EQM Future of Defence Index, while ETL2.DE tracks Bloomberg Commodity 3 Month Forward. They also come from different issuers: HANetf and Legal & General. Their fees differ too: 0.49% for ASWC.DE and 0.30% for ETL2.DE.
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