EN4C.DE vs. USPY.DE
EN4C.DE (L&G Multi-Strategy Enhanced Commodities UCITS ETF) and USPY.DE (L&G Cyber Security UCITS ETF) are both exchange-traded funds - EN4C.DE is a Commodities fund tracking the Barclays Backwardation Tilt Multi-Strategy Capped, while USPY.DE is a Technology Equities fund tracking the ISE Cyber Security UCITS. Both are passively managed. Over the past 3 years, EN4C.DE returned 9.70%/yr vs 25.52%/yr for USPY.DE. At a 0.14 correlation, their price movements are largely independent. EN4C.DE charges 0.30%/yr vs 0.69%/yr for USPY.DE.
Performance
EN4C.DE vs. USPY.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EN4C.DE achieves a 24.44% return, which is significantly lower than USPY.DE's 39.75% return.
EN4C.DE
- 1D
- -1.57%
- 1M
- 0.45%
- YTD
- 24.44%
- 6M
- 23.08%
- 1Y
- 29.56%
- 3Y*
- 9.70%
- 5Y*
- —
- 10Y*
- —
USPY.DE
- 1D
- -2.26%
- 1M
- 29.72%
- YTD
- 39.75%
- 6M
- 33.27%
- 1Y
- 32.53%
- 3Y*
- 25.52%
- 5Y*
- 12.91%
- 10Y*
- 16.69%
EN4C.DE vs. USPY.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EN4C.DE L&G Multi-Strategy Enhanced Commodities UCITS ETF | 24.44% | -3.13% | 9.93% | -5.63% | 29.83% | 10.18% |
USPY.DE L&G Cyber Security UCITS ETF | 39.75% | -3.37% | 24.35% | 37.43% | -28.72% | 1.60% |
Correlation
The correlation between EN4C.DE and USPY.DE is 0.10, 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 | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2021 | 0.14 |
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Return for Risk
EN4C.DE vs. USPY.DE — Risk / Return Rank
EN4C.DE
USPY.DE
EN4C.DE vs. USPY.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Multi-Strategy Enhanced Commodities UCITS ETF (EN4C.DE) and L&G Cyber Security UCITS ETF (USPY.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.
| EN4C.DE | USPY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.25 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | 1.70 | +1.75 |
| Martin ratioReturn relative to average drawdown | 8.36 | 4.56 | +3.80 |
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
| EN4C.DE | USPY.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.69 | 1.26 | +0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.52 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.72 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.63 | +0.09 |
Drawdowns
EN4C.DE vs. USPY.DE - Drawdown Comparison
The maximum EN4C.DE drawdown since its inception was -25.41%, smaller than the maximum USPY.DE drawdown of -34.32%. Use the drawdown chart below to compare losses from any high point for EN4C.DE and USPY.DE.
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Drawdown Indicators
| EN4C.DE | USPY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.41% | -34.32% | +8.91% |
Max Drawdown (1Y)Largest decline over 1 year | -8.81% | -19.63% | +10.82% |
Max Drawdown (3Y)Largest decline over 3 years | -17.63% | -30.52% | +12.89% |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.89% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.89% | — |
Current DrawdownCurrent decline from peak | -4.02% | -2.26% | -1.76% |
Average DrawdownAverage peak-to-trough decline | -13.89% | -9.91% | -3.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.64% | 7.32% | -3.68% |
Volatility
EN4C.DE vs. USPY.DE - Volatility Comparison
The current volatility for L&G Multi-Strategy Enhanced Commodities UCITS ETF (EN4C.DE) is 5.98%, while L&G Cyber Security UCITS ETF (USPY.DE) has a volatility of 10.03%. This indicates that EN4C.DE experiences smaller price fluctuations and is considered to be less risky than USPY.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EN4C.DE | USPY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.98% | 10.03% | -4.05% |
Volatility (6M)Calculated over the trailing 6-month period | 14.54% | 22.89% | -8.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.98% | 26.36% | -8.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.11% | 24.60% | -6.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.11% | 22.91% | -4.80% |
EN4C.DE vs. USPY.DE - Expense Ratio Comparison
EN4C.DE has a 0.30% expense ratio, which is lower than USPY.DE's 0.69% expense ratio.
Dividends
EN4C.DE vs. USPY.DE - Dividend Comparison
Neither EN4C.DE nor USPY.DE has paid dividends to shareholders.
Frequently Asked Questions
EN4C.DE and USPY.DE have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EN4C.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EN4C.DE is cheaper with a 0.30% expense ratio, compared with 0.69% for USPY.DE.
EN4C.DE is categorized as Commodities, while USPY.DE is Technology Equities. EN4C.DE tracks Barclays Backwardation Tilt Multi-Strategy Capped, while USPY.DE tracks ISE Cyber Security UCITS. Their fees differ too: 0.30% for EN4C.DE and 0.69% for USPY.DE.
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