DBXD.DE vs. ETL2.DE
DBXD.DE (Xtrackers DAX UCITS ETF 1C) and ETL2.DE (L&G Longer Dated All Commodities UCITS ETF) are both exchange-traded funds - DBXD.DE is a Europe Equities fund tracking the DAX®, while ETL2.DE is a Commodities fund tracking the Bloomberg Commodity 3 Month Forward. Both are passively managed. Over the past 10 years, DBXD.DE returned 8.92%/yr vs 8.17%/yr for ETL2.DE. At a 0.18 correlation, their price movements are largely independent. DBXD.DE charges 0.09%/yr vs 0.30%/yr for ETL2.DE.
Performance
DBXD.DE vs. ETL2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DBXD.DE achieves a 1.35% return, which is significantly lower than ETL2.DE's 18.23% return. Over the past 10 years, DBXD.DE has outperformed ETL2.DE with an annualized return of 8.92%, while ETL2.DE has yielded a comparatively lower 8.17% annualized return.
DBXD.DE
- 1D
- 0.50%
- 1M
- -0.04%
- YTD
- 1.35%
- 6M
- 3.40%
- 1Y
- 2.06%
- 3Y*
- 15.51%
- 5Y*
- 9.16%
- 10Y*
- 8.92%
ETL2.DE
- 1D
- -1.24%
- 1M
- 0.52%
- YTD
- 18.23%
- 6M
- 18.72%
- 1Y
- 27.69%
- 3Y*
- 10.87%
- 5Y*
- 13.12%
- 10Y*
- 8.17%
DBXD.DE vs. ETL2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBXD.DE Xtrackers DAX UCITS ETF 1C | 1.35% | 22.65% | 18.18% | 19.60% | -12.74% | 15.26% | 3.11% | 24.69% | -18.52% | 12.12% |
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 DBXD.DE and ETL2.DE is -0.17, 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 | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since May 7, 2010 | 0.18 |
The correlation between DBXD.DE and ETL2.DE shifts across timeframes, from -0.17 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DBXD.DE vs. ETL2.DE — Risk / Return Rank
DBXD.DE
ETL2.DE
DBXD.DE vs. ETL2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers DAX UCITS ETF 1C (DBXD.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.
| DBXD.DE | ETL2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -2.15 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.33 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | 3.59 | -3.40 |
| Martin ratioReturn relative to average drawdown | 0.58 | 8.20 | -7.62 |
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
| DBXD.DE | ETL2.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.14 | 1.87 | -1.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.84 | -0.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.59 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.25 | +0.06 |
Drawdowns
DBXD.DE vs. ETL2.DE - Drawdown Comparison
The maximum DBXD.DE drawdown since its inception was -54.98%, 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 DBXD.DE and ETL2.DE.
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Drawdown Indicators
| DBXD.DE | ETL2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.98% | -47.04% | -7.94% |
Max Drawdown (1Y)Largest decline over 1 year | -12.28% | -7.90% | -4.38% |
Max Drawdown (3Y)Largest decline over 3 years | -15.92% | -15.06% | -0.86% |
Max Drawdown (5Y)Largest decline over 5 years | -26.70% | -23.27% | -3.43% |
Max Drawdown (10Y)Largest decline over 10 years | -38.83% | -26.50% | -12.33% |
Current DrawdownCurrent decline from peak | -2.23% | -3.57% | +1.34% |
Average DrawdownAverage peak-to-trough decline | -11.34% | -21.90% | +10.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.97% | 3.46% | +0.51% |
Volatility
DBXD.DE vs. ETL2.DE - Volatility Comparison
Xtrackers DAX UCITS ETF 1C (DBXD.DE) has a higher volatility of 5.10% compared to L&G Longer Dated All Commodities UCITS ETF (ETL2.DE) at 4.60%. This indicates that DBXD.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
| DBXD.DE | ETL2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.10% | 4.60% | +0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 12.95% | 12.74% | +0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.13% | 15.15% | +0.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.16% | 15.44% | +1.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.35% | 13.69% | +4.66% |
DBXD.DE vs. ETL2.DE - Expense Ratio Comparison
DBXD.DE has a 0.09% expense ratio, which is lower than ETL2.DE's 0.30% expense ratio.
Dividends
DBXD.DE vs. ETL2.DE - Dividend Comparison
Neither DBXD.DE nor ETL2.DE has paid dividends to shareholders.
Frequently Asked Questions
DBXD.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, DBXD.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DBXD.DE is cheaper with a 0.09% expense ratio, compared with 0.30% for ETL2.DE.
DBXD.DE is categorized as Europe Equities, while ETL2.DE is Commodities. DBXD.DE tracks DAX®, while ETL2.DE tracks Bloomberg Commodity 3 Month Forward. They also come from different issuers: Xtrackers and Legal & General. Their fees differ too: 0.09% for DBXD.DE and 0.30% for ETL2.DE.
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