BNQL.DE vs. 4GLD.DE
BNQL.DE (BNP Paribas Palladium ETC) and 4GLD.DE (Xetra-Gold) are both exchange-traded funds - BNQL.DE is a Precious Metals fund tracking the Palladium Spot Price, while 4GLD.DE is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 5 years, BNQL.DE returned -14.19%/yr vs 19.85%/yr for 4GLD.DE. At a 0.27 correlation, their price movements are largely independent. BNQL.DE charges 0.99%/yr vs 0.00%/yr for 4GLD.DE.
Performance
BNQL.DE vs. 4GLD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, BNQL.DE achieves a -17.76% return, which is significantly lower than 4GLD.DE's 2.80% return.
BNQL.DE
- 1D
- -1.06%
- 1M
- -11.56%
- YTD
- -17.76%
- 6M
- -8.41%
- 1Y
- 29.07%
- 3Y*
- -5.67%
- 5Y*
- -14.19%
- 10Y*
- —
4GLD.DE
- 1D
- 0.57%
- 1M
- -1.56%
- YTD
- 2.80%
- 6M
- 6.42%
- 1Y
- 30.27%
- 3Y*
- 28.18%
- 5Y*
- 19.85%
- 10Y*
- 13.36%
BNQL.DE vs. 4GLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BNQL.DE BNP Paribas Palladium ETC | -17.76% | 58.42% | -16.10% | -40.26% | -4.34% | -10.11% | 10.43% | 53.40% | 21.86% | 38.20% |
4GLD.DE Xetra-Gold | 2.80% | 49.32% | 34.57% | 9.32% | 7.12% | 4.03% | 13.05% | 21.25% | 3.20% | -1.67% |
Correlation
The correlation between BNQL.DE and 4GLD.DE is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2016 | 0.27 |
Over the past year, BNQL.DE and 4GLD.DE have become more correlated (0.51) than their long-term average of 0.27, meaning their price movements have been converging.
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Return for Risk
BNQL.DE vs. 4GLD.DE — Risk / Return Rank
BNQL.DE
4GLD.DE
BNQL.DE vs. 4GLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNP Paribas Palladium ETC (BNQL.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.
| BNQL.DE | 4GLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.26 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.78 | 1.82 | -1.05 |
| Martin ratioReturn relative to average drawdown | 1.68 | 4.63 | -2.95 |
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
| BNQL.DE | 4GLD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.63 | 1.31 | -0.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.31 | 1.23 | -1.54 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.92 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | 0.65 | -0.54 |
Drawdowns
BNQL.DE vs. 4GLD.DE - Drawdown Comparison
The maximum BNQL.DE drawdown since its inception was -73.80%, 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 BNQL.DE and 4GLD.DE.
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Drawdown Indicators
| BNQL.DE | 4GLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.80% | -36.79% | -37.01% |
Max Drawdown (1Y)Largest decline over 1 year | -37.28% | -16.54% | -20.74% |
Max Drawdown (3Y)Largest decline over 3 years | -43.58% | -16.54% | -27.04% |
Max Drawdown (5Y)Largest decline over 5 years | -73.80% | -16.54% | -57.26% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.23% | — |
Current DrawdownCurrent decline from peak | -61.09% | -14.95% | -46.14% |
Average DrawdownAverage peak-to-trough decline | -32.15% | -11.83% | -20.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.30% | 6.52% | +10.78% |
Volatility
BNQL.DE vs. 4GLD.DE - Volatility Comparison
BNP Paribas Palladium ETC (BNQL.DE) has a higher volatility of 10.31% compared to Xetra-Gold (4GLD.DE) at 5.09%. This indicates that BNQL.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
| BNQL.DE | 4GLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.31% | 5.09% | +5.22% |
Volatility (6M)Calculated over the trailing 6-month period | 37.75% | 20.09% | +17.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.71% | 23.06% | +22.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.30% | 16.00% | +29.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.77% | 14.37% | +26.40% |
BNQL.DE vs. 4GLD.DE - Expense Ratio Comparison
BNQL.DE has a 0.99% expense ratio, which is higher than 4GLD.DE's 0.00% expense ratio.
Dividends
BNQL.DE vs. 4GLD.DE - Dividend Comparison
Neither BNQL.DE nor 4GLD.DE has paid dividends to shareholders.
Frequently Asked Questions
BNQL.DE and 4GLD.DE have a correlation of 0.51, 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 0.99% for BNQL.DE.
BNQL.DE is categorized as Precious Metals, while 4GLD.DE is Gold. BNQL.DE tracks Palladium Spot Price, while 4GLD.DE tracks LBMA Gold Price. They also come from different issuers: BNP Paribas and Deutsche Börse Commodities. Their fees differ too: 0.99% for BNQL.DE and 0.00% for 4GLD.DE.
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