CEBL.DE vs. 4GLD.DE
CEBL.DE (iShares MSCI EM Asia UCITS ETF (Acc)) and 4GLD.DE (Xetra-Gold) are both exchange-traded funds - CEBL.DE is a Asia Pacific Equities fund tracking the MSCI Emerging Markets Asia, while 4GLD.DE is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, CEBL.DE returned 11.15%/yr vs 12.28%/yr for 4GLD.DE. At a 0.10 correlation, their price movements are largely independent. CEBL.DE charges 0.20%/yr vs 0.00%/yr for 4GLD.DE.
Performance
CEBL.DE vs. 4GLD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CEBL.DE achieves a 30.06% return, which is significantly higher than 4GLD.DE's -2.63% return. Over the past 10 years, CEBL.DE has underperformed 4GLD.DE with an annualized return of 11.15%, while 4GLD.DE has yielded a comparatively higher 12.28% annualized return.
CEBL.DE
- 1D
- 3.15%
- 1M
- 2.39%
- YTD
- 30.06%
- 6M
- 33.12%
- 1Y
- 52.43%
- 3Y*
- 21.45%
- 5Y*
- 8.70%
- 10Y*
- 11.15%
4GLD.DE
- 1D
- 2.93%
- 1M
- -9.21%
- YTD
- -2.63%
- 6M
- -0.59%
- 1Y
- 23.16%
- 3Y*
- 26.47%
- 5Y*
- 18.62%
- 10Y*
- 12.28%
CEBL.DE vs. 4GLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CEBL.DE iShares MSCI EM Asia UCITS ETF (Acc) | 30.06% | 19.13% | 18.60% | 3.15% | -15.54% | 2.03% | 15.18% | 22.17% | -12.65% | 25.07% |
4GLD.DE Xetra-Gold | -2.63% | 49.32% | 34.57% | 9.33% | 7.12% | 4.03% | 13.03% | 21.27% | 3.19% | -1.67% |
Correlation
The correlation between CEBL.DE and 4GLD.DE is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2010 | 0.10 |
The correlation between CEBL.DE and 4GLD.DE shifts across timeframes, from 0.08 (10 years) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CEBL.DE vs. 4GLD.DE — Risk / Return Rank
CEBL.DE
4GLD.DE
CEBL.DE vs. 4GLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM Asia UCITS ETF (Acc) (CEBL.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CEBL.DE | 4GLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.44 | ||
| Sortino ratioReturn per unit of downside risk | +1.91 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.21 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 4.41 | 1.12 | +3.29 |
| Martin ratioReturn relative to average drawdown | 15.30 | 3.41 | +11.88 |
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Drawdowns
CEBL.DE vs. 4GLD.DE - Drawdown Comparison
The maximum CEBL.DE drawdown since its inception was -35.09%, roughly equal to the maximum 4GLD.DE drawdown of -36.79%. Use the drawdown chart below to compare losses from any high point for CEBL.DE and 4GLD.DE.
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Drawdown Indicators
| CEBL.DE | 4GLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.09% | -36.79% | +1.70% |
Max Drawdown (1Y)Largest decline over 1 year | -11.43% | -21.73% | +10.30% |
Max Drawdown (3Y)Largest decline over 3 years | -20.53% | -21.73% | +1.20% |
Max Drawdown (5Y)Largest decline over 5 years | -29.00% | -21.73% | -7.27% |
Max Drawdown (10Y)Largest decline over 10 years | -33.12% | -21.73% | -11.39% |
Current DrawdownCurrent decline from peak | -4.21% | -19.44% | +15.23% |
Average DrawdownAverage peak-to-trough decline | -11.19% | -12.03% | +0.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 7.11% | -3.81% |
Volatility
CEBL.DE vs. 4GLD.DE - Volatility Comparison
iShares MSCI EM Asia UCITS ETF (Acc) (CEBL.DE) has a higher volatility of 8.13% compared to Xetra-Gold (4GLD.DE) at 6.93%. This indicates that CEBL.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
| CEBL.DE | 4GLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.13% | 6.93% | +1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 17.29% | 20.81% | -3.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.44% | 23.70% | -3.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.63% | 16.29% | +2.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.99% | 14.56% | +4.43% |
CEBL.DE vs. 4GLD.DE - Expense Ratio Comparison
CEBL.DE has a 0.20% expense ratio, which is higher than 4GLD.DE's 0.00% 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
CEBL.DE vs. 4GLD.DE - Dividend Comparison
Neither CEBL.DE nor 4GLD.DE has paid dividends to shareholders.
Frequently Asked Questions
CEBL.DE and 4GLD.DE have a correlation of 0.23, 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 0.20% for CEBL.DE.
CEBL.DE is categorized as Asia Pacific Equities, while 4GLD.DE is Gold. CEBL.DE tracks MSCI Emerging Markets Asia, while 4GLD.DE tracks LBMA Gold Price. They also come from different issuers: iShares and Deutsche Börse Commodities. Their fees differ too: 0.20% for CEBL.DE and 0.00% for 4GLD.DE.
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