CE01.L vs. PPFB.DE
CE01.L (iShares Euro Government Bond 7-10yr UCITS ETF (Acc)) and PPFB.DE (iShares Physical Gold ETC) are both exchange-traded funds - CE01.L is a European Government Bonds fund tracking the Bloomberg Euro Agg Govt TR EUR, while PPFB.DE is a Precious Metals fund tracking the Gold. Both are passively managed. Over the past 3 years, CE01.L returned 2.70%/yr vs 28.23%/yr for PPFB.DE. At a 0.25 correlation, their price movements are largely independent. CE01.L charges 0.15%/yr vs 0.12%/yr for PPFB.DE.
Performance
CE01.L vs. PPFB.DE - Performance Comparison
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Different Trading Currencies
CE01.L is traded in GBp, while PPFB.DE is traded in EUR. To make them comparable, the PPFB.DE values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, CE01.L achieves a -0.91% return, which is significantly lower than PPFB.DE's 1.93% return.
CE01.L
- 1D
- 0.23%
- 1M
- 0.98%
- YTD
- -0.91%
- 6M
- -0.95%
- 1Y
- 2.93%
- 3Y*
- 2.70%
- 5Y*
- -2.20%
- 10Y*
- 0.80%
PPFB.DE
- 1D
- 0.74%
- 1M
- -1.35%
- YTD
- 1.93%
- 6M
- 5.36%
- 1Y
- 33.72%
- 3Y*
- 28.23%
- 5Y*
- —
- 10Y*
- —
CE01.L vs. PPFB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CE01.L iShares Euro Government Bond 7-10yr UCITS ETF (Acc) | -0.91% | 6.87% | -3.53% | 6.60% | -15.38% | -3.93% |
PPFB.DE iShares Physical Gold ETC | 1.93% | 56.87% | 28.32% | 7.24% | 12.90% | 1.36% |
Correlation
The correlation between CE01.L and PPFB.DE is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jul 19, 2021 | 0.25 |
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Return for Risk
CE01.L vs. PPFB.DE — Risk / Return Rank
CE01.L
PPFB.DE
CE01.L vs. PPFB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Government Bond 7-10yr UCITS ETF (Acc) (CE01.L) and iShares Physical Gold ETC (PPFB.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.
| CE01.L | PPFB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.28 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | 1.94 | -1.39 |
| Martin ratioReturn relative to average drawdown | 1.30 | 5.11 | -3.81 |
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
| CE01.L | PPFB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.50 | 1.45 | -0.95 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.27 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.09 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 1.26 | -1.08 |
Drawdowns
CE01.L vs. PPFB.DE - Drawdown Comparison
The maximum CE01.L drawdown since its inception was -27.47%, which is greater than PPFB.DE's maximum drawdown of -17.33%. Use the drawdown chart below to compare losses from any high point for CE01.L and PPFB.DE.
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Drawdown Indicators
| CE01.L | PPFB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.47% | -17.33% | -10.14% |
Max Drawdown (1Y)Largest decline over 1 year | -5.33% | -17.33% | +12.00% |
Max Drawdown (3Y)Largest decline over 3 years | -6.85% | -17.33% | +10.48% |
Max Drawdown (5Y)Largest decline over 5 years | -22.14% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -27.47% | — | — |
Current DrawdownCurrent decline from peak | -18.53% | -15.65% | -2.88% |
Average DrawdownAverage peak-to-trough decline | -10.31% | -3.73% | -6.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 6.59% | -4.34% |
Volatility
CE01.L vs. PPFB.DE - Volatility Comparison
The current volatility for iShares Euro Government Bond 7-10yr UCITS ETF (Acc) (CE01.L) is 1.98%, while iShares Physical Gold ETC (PPFB.DE) has a volatility of 5.11%. This indicates that CE01.L experiences smaller price fluctuations and is considered to be less risky than PPFB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CE01.L | PPFB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.98% | 5.11% | -3.13% |
Volatility (6M)Calculated over the trailing 6-month period | 4.61% | 20.09% | -15.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.88% | 23.17% | -17.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.21% | 16.30% | -8.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.83% | 16.30% | -7.47% |
CE01.L vs. PPFB.DE - Expense Ratio Comparison
CE01.L has a 0.15% expense ratio, which is higher than PPFB.DE's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CE01.L vs. PPFB.DE - Dividend Comparison
Neither CE01.L nor PPFB.DE has paid dividends to shareholders.
Frequently Asked Questions
CE01.L and PPFB.DE have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PPFB.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PPFB.DE is cheaper with a 0.12% expense ratio, compared with 0.15% for CE01.L.
CE01.L is categorized as European Government Bonds, while PPFB.DE is Precious Metals. CE01.L tracks Bloomberg Euro Agg Govt TR EUR, while PPFB.DE tracks Gold. Their fees differ too: 0.15% for CE01.L and 0.12% for PPFB.DE.
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