BAYN.DE vs. ETL2.DE

Last updated Jun 5, 2026

BAYN.DE (Bayer Aktiengesellschaft) is a stock, while ETL2.DE (L&G Longer Dated All Commodities UCITS ETF) is Commodities fund tracking the Bloomberg Commodity 3 Month Forward. Over the past 10 years, BAYN.DE returned -6.17%/yr vs 8.17%/yr for ETL2.DE. At a 0.15 correlation, their price movements are largely independent.

Performance

BAYN.DE vs. ETL2.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Bayer Aktiengesellschaft (BAYN.DE) and L&G Longer Dated All Commodities UCITS ETF (ETL2.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BAYN.DE achieves a -3.64% return, which is significantly lower than ETL2.DE's 18.23% return. Over the past 10 years, BAYN.DE has underperformed ETL2.DE with an annualized return of -6.17%, while ETL2.DE has yielded a comparatively higher 8.17% annualized return.

BAYN.DE

• 1D: 2.48%
• 1M: -6.17%
• YTD: -3.64%
• 6M: 6.22%
• 1Y: 40.84%
• 3Y*: -11.62%
• 5Y*: -5.97%
• 10Y*: -6.17%

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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BAYN.DE vs. ETL2.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BAYN.DE Bayer Aktiengesellschaft	-3.64%	92.54%	-42.34%	-27.50%	6.20%	1.34%	-30.79%	25.96%	-39.17%	7.50%
ETL2.DE L&G Longer Dated All Commodities UCITS ETF	18.23%	4.89%	11.54%	-9.44%	24.86%	46.17%	-7.55%	10.85%	-4.21%	-9.85%

Correlation

The correlation between BAYN.DE and ETL2.DE is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.21
Correlation (3Y) Calculated over the trailing 3-year period	-0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.01
Correlation (10Y) Calculated over the trailing 10-year period	0.11
Correlation (All Time) Calculated using the full available price history since May 7, 2010	0.15

The correlation between BAYN.DE and ETL2.DE shifts across timeframes, from -0.21 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BAYN.DE vs. ETL2.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BAYN.DE

BAYN.DE Risk / Return Rank: 69
BAYN.DE Sharpe Ratio Rank: 73
BAYN.DE Sortino Ratio Rank: 71
BAYN.DE Omega Ratio Rank: 68
BAYN.DE Calmar Ratio Rank: 67
BAYN.DE Martin Ratio Rank: 69

ETL2.DE

ETL2.DE Risk / Return Rank: 57
ETL2.DE Sharpe Ratio Rank: 56
ETL2.DE Sortino Ratio Rank: 51
ETL2.DE Omega Ratio Rank: 54
ETL2.DE Calmar Ratio Rank: 72
ETL2.DE Martin Ratio Rank: 49

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BAYN.DE vs. ETL2.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bayer Aktiengesellschaft (BAYN.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.

	BAYN.DE	ETL2.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.05	1.87	-0.82
Sortino ratio: Return per unit of downside risk	1.73	2.47	-0.74
Omega ratio: Gain probability vs. loss probability	1.21	1.33	-0.12
Calmar ratio: Return relative to maximum drawdown	1.33	3.59	-2.26
Martin ratio: Return relative to average drawdown	3.32	8.20	-4.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BAYN.DE vs. ETL2.DE - Sharpe Ratio Comparison

The current BAYN.DE Sharpe Ratio is 1.05, which is lower than the ETL2.DE Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of BAYN.DE and ETL2.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BAYN.DE	ETL2.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.05	1.87	-0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.18	0.84	-1.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.20	0.59	-0.79
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.25	-0.11

Drawdowns

BAYN.DE vs. ETL2.DE - Drawdown Comparison

The maximum BAYN.DE drawdown since its inception was -82.29%, which is greater than ETL2.DE's maximum drawdown of -47.04%. Use the drawdown chart below to compare losses from any high point for BAYN.DE and ETL2.DE.

Drawdown Indicators

	BAYN.DE	ETL2.DE	Difference
Max Drawdown Largest peak-to-trough decline	-82.29%	-47.04%	-35.25%
Max Drawdown (1Y) Largest decline over 1 year	-30.65%	-7.90%	-22.75%
Max Drawdown (3Y) Largest decline over 3 years	-64.35%	-15.06%	-49.29%
Max Drawdown (5Y) Largest decline over 5 years	-70.42%	-23.27%	-47.15%
Max Drawdown (10Y) Largest decline over 10 years	-80.34%	-26.50%	-53.84%
Current Drawdown Current decline from peak	-66.36%	-3.57%	-62.79%
Average Drawdown Average peak-to-trough decline	-29.34%	-21.90%	-7.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.25%	3.46%	+8.79%

Volatility

BAYN.DE vs. ETL2.DE - Volatility Comparison

Bayer Aktiengesellschaft (BAYN.DE) has a higher volatility of 9.20% compared to L&G Longer Dated All Commodities UCITS ETF (ETL2.DE) at 4.60%. This indicates that BAYN.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.

Volatility by Period

	BAYN.DE	ETL2.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.20%	4.60%	+4.60%
Volatility (6M) Calculated over the trailing 6-month period	29.11%	12.74%	+16.37%
Volatility (1Y) Calculated over the trailing 1-year period	38.64%	15.15%	+23.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.42%	15.44%	+16.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.08%	13.69%	+17.39%

Dividends

BAYN.DE vs. ETL2.DE - Dividend Comparison

BAYN.DE's dividend yield for the trailing twelve months is around 0.31%, while ETL2.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BAYN.DE Bayer Aktiengesellschaft	0.31%	0.30%	0.57%	7.14%	4.14%	4.26%	5.81%	3.85%	4.55%	2.63%	2.52%	1.94%
ETL2.DE L&G Longer Dated All Commodities UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BAYN.DE and ETL2.DE in my portfolio?

BAYN.DE and ETL2.DE have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.