DFEU.L vs. 4GLD.DE
DFEU.L (iShares Europe Defence UCITS ETF EUR Accumulating) and 4GLD.DE (Xetra-Gold) are both exchange-traded funds - DFEU.L is a Aerospace & Defense fund tracking the STOXX Europe Targeted Defence Index, while 4GLD.DE is a Gold fund tracking the LBMA Gold Price. Both are passively managed. At a 0.22 correlation, their price movements are largely independent. DFEU.L charges 0.35%/yr vs 0.00%/yr for 4GLD.DE.
Performance
DFEU.L vs. 4GLD.DE - Performance Comparison
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Different Trading Currencies
DFEU.L is traded in GBP, while 4GLD.DE is traded in EUR. To make them comparable, the 4GLD.DE values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, DFEU.L achieves a 3.58% return, which is significantly higher than 4GLD.DE's -3.67% return.
DFEU.L
- 1D
- 0.00%
- 1M
- 4.74%
- YTD
- 3.58%
- 6M
- 4.50%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
4GLD.DE
- 1D
- 2.91%
- 1M
- -7.83%
- YTD
- -3.67%
- 6M
- -2.30%
- 1Y
- 24.86%
- 3Y*
- 26.81%
- 5Y*
- 18.76%
- 10Y*
- 13.21%
DFEU.L vs. 4GLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DFEU.L iShares Europe Defence UCITS ETF EUR Accumulating | 3.58% | -14.38% |
4GLD.DE Xetra-Gold | -3.67% | 33.81% |
Correlation
The correlation between DFEU.L and 4GLD.DE is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 7, 2025 | 0.22 |
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Return for Risk
DFEU.L vs. 4GLD.DE — Risk / Return Rank
DFEU.L
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
4GLD.DE
DFEU.L vs. 4GLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Europe Defence UCITS ETF EUR Accumulating (DFEU.L) 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.
| DFEU.L | 4GLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.22 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.16 | — |
| Martin ratioReturn relative to average drawdown | — | 3.62 | — |
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Drawdowns
DFEU.L vs. 4GLD.DE - Drawdown Comparison
The maximum DFEU.L drawdown since its inception was -23.78%, smaller than the maximum 4GLD.DE drawdown of -40.49%. Use the drawdown chart below to compare losses from any high point for DFEU.L and 4GLD.DE.
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Drawdown Indicators
| DFEU.L | 4GLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.78% | -40.49% | +16.71% |
Max Drawdown (1Y)Largest decline over 1 year | — | -22.54% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -22.54% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.54% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.54% | — |
Current DrawdownCurrent decline from peak | -14.72% | -20.29% | +5.57% |
Average DrawdownAverage peak-to-trough decline | -11.47% | -13.07% | +1.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 7.24% | — |
Volatility
DFEU.L vs. 4GLD.DE - Volatility Comparison
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Volatility by Period
| DFEU.L | 4GLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 6.95% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 20.78% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 38.83% | 23.82% | +15.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.83% | 16.49% | +22.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.83% | 15.99% | +22.84% |
DFEU.L vs. 4GLD.DE - Expense Ratio Comparison
DFEU.L has a 0.35% expense ratio, which is higher than 4GLD.DE's 0.00% expense ratio.
Dividends
DFEU.L vs. 4GLD.DE - Dividend Comparison
Neither DFEU.L nor 4GLD.DE has paid dividends to shareholders.
Frequently Asked Questions
DFEU.L and 4GLD.DE have a correlation of 0.22, 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 0.35% for DFEU.L.
DFEU.L is categorized as Aerospace & Defense, while 4GLD.DE is Gold. DFEU.L tracks STOXX Europe Targeted Defence Index, while 4GLD.DE tracks LBMA Gold Price. They also come from different issuers: iShares and Deutsche Börse Commodities. Their fees differ too: 0.35% for DFEU.L and 0.00% for 4GLD.DE.
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