DELG.DE vs. ETL2.DE

Last updated Jun 5, 2026

DELG.DE (L&G US ESG Exclusions Paris Aligned UCITS ETF USD Accumulating) and ETL2.DE (L&G Longer Dated All Commodities UCITS ETF) are both exchange-traded funds - DELG.DE is a Large Cap Blend Equities fund tracking the Foxberry Sustainability Consensus US, while ETL2.DE is a Commodities fund tracking the Bloomberg Commodity 3 Month Forward. Both are passively managed. Over the past 5 years, DELG.DE returned 14.64%/yr vs 13.12%/yr for ETL2.DE. At a 0.16 correlation, their price movements are largely independent. DELG.DE charges 0.12%/yr vs 0.30%/yr for ETL2.DE.

Performance

DELG.DE vs. ETL2.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in L&G US ESG Exclusions Paris Aligned UCITS ETF USD Accumulating (DELG.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, DELG.DE achieves a 10.45% return, which is significantly lower than ETL2.DE's 18.23% return.

DELG.DE

• 1D: -0.17%
• 1M: 6.20%
• YTD: 10.45%
• 6M: 10.40%
• 1Y: 25.92%
• 3Y*: 19.55%
• 5Y*: 14.64%
• 10Y*: —

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%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DELG.DE L&G US ESG Exclusions Paris Aligned UCITS ETF USD Accumulating	10.45%	6.14%	33.62%	26.50%	-19.07%	38.54%	10.87%
ETL2.DE L&G Longer Dated All Commodities UCITS ETF	18.23%	4.89%	11.54%	-9.44%	24.86%	46.17%	-3.42%

Correlation

The correlation between DELG.DE and ETL2.DE is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jan 28, 2020	0.16

The correlation between DELG.DE and ETL2.DE shifts across timeframes, from -0.02 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.

Return for Risk

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

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

DELG.DE

DELG.DE Risk / Return Rank: 59
DELG.DE Sharpe Ratio Rank: 60
DELG.DE Sortino Ratio Rank: 59
DELG.DE Omega Ratio Rank: 61
DELG.DE Calmar Ratio Rank: 58
DELG.DE Martin Ratio Rank: 59

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.

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

This table presents a comparison of risk-adjusted performance metrics for L&G US ESG Exclusions Paris Aligned UCITS ETF USD Accumulating (DELG.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.

	DELG.DE	ETL2.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.99	1.87	+0.12
Sortino ratio: Return per unit of downside risk	2.76	2.47	+0.29
Omega ratio: Gain probability vs. loss probability	1.36	1.33	+0.03
Calmar ratio: Return relative to maximum drawdown	2.82	3.59	-0.77
Martin ratio: Return relative to average drawdown	10.31	8.20	+2.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current DELG.DE Sharpe Ratio is 1.99, which is comparable to the ETL2.DE Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of DELG.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

	DELG.DE	ETL2.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	1.87	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	0.84	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.25	+0.56

Drawdowns

DELG.DE vs. ETL2.DE - Drawdown Comparison

The maximum DELG.DE drawdown since its inception was -31.08%, smaller than the maximum ETL2.DE drawdown of -47.04%. Use the drawdown chart below to compare losses from any high point for DELG.DE and ETL2.DE.

Drawdown Indicators

	DELG.DE	ETL2.DE	Difference
Max Drawdown Largest peak-to-trough decline	-31.08%	-47.04%	+15.96%
Max Drawdown (1Y) Largest decline over 1 year	-9.15%	-7.90%	-1.25%
Max Drawdown (3Y) Largest decline over 3 years	-24.38%	-15.06%	-9.32%
Max Drawdown (5Y) Largest decline over 5 years	-24.38%	-23.27%	-1.11%
Max Drawdown (10Y) Largest decline over 10 years	—	-26.50%	—
Current Drawdown Current decline from peak	-0.57%	-3.57%	+3.00%
Average Drawdown Average peak-to-trough decline	-5.47%	-21.90%	+16.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	3.46%	-0.95%

Volatility

DELG.DE vs. ETL2.DE - Volatility Comparison

The current volatility for L&G US ESG Exclusions Paris Aligned UCITS ETF USD Accumulating (DELG.DE) is 3.31%, while L&G Longer Dated All Commodities UCITS ETF (ETL2.DE) has a volatility of 4.60%. This indicates that DELG.DE experiences smaller price fluctuations and is considered to be less risky than ETL2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DELG.DE	ETL2.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.31%	4.60%	-1.29%
Volatility (6M) Calculated over the trailing 6-month period	8.95%	12.74%	-3.79%
Volatility (1Y) Calculated over the trailing 1-year period	12.95%	15.15%	-2.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.14%	15.44%	+0.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.82%	13.69%	+5.13%

DELG.DE vs. ETL2.DE - Expense Ratio Comparison

DELG.DE has a 0.12% expense ratio, which is lower than ETL2.DE's 0.30% expense ratio.

Dividends

DELG.DE vs. ETL2.DE - Dividend Comparison

Neither DELG.DE nor ETL2.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

DELG.DE and ETL2.DE have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DELG.DE or ETL2.DE?

On fees, DELG.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DELG.DE or ETL2.DE?

DELG.DE is cheaper with a 0.12% expense ratio, compared with 0.30% for ETL2.DE.

What is the main difference between DELG.DE and ETL2.DE?

DELG.DE is categorized as Large Cap Blend Equities, while ETL2.DE is Commodities. DELG.DE tracks Foxberry Sustainability Consensus US, while ETL2.DE tracks Bloomberg Commodity 3 Month Forward. Their fees differ too: 0.12% for DELG.DE and 0.30% for ETL2.DE.