ETL2.DE vs. EXXY.DE
ETL2.DE (L&G Longer Dated All Commodities UCITS ETF) and EXXY.DE (iShares Diversified Commodity Swap UCITS ETF (DE)) are both Commodities funds - ETL2.DE tracks the Bloomberg Commodity 3 Month Forward while EXXY.DE tracks the Bloomberg Commodity. Both are passively managed. Over the past 10 years, ETL2.DE returned 8.17%/yr vs 5.66%/yr for EXXY.DE. Their correlation of 0.94 suggests significant overlap in exposure. ETL2.DE charges 0.30%/yr vs 0.46%/yr for EXXY.DE.
Performance
ETL2.DE vs. EXXY.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ETL2.DE achieves a 18.23% return, which is significantly lower than EXXY.DE's 23.43% return. Over the past 10 years, ETL2.DE has outperformed EXXY.DE with an annualized return of 8.17%, while EXXY.DE has yielded a comparatively lower 5.66% annualized return.
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%
EXXY.DE
- 1D
- -1.47%
- 1M
- -0.31%
- YTD
- 23.43%
- 6M
- 22.49%
- 1Y
- 33.55%
- 3Y*
- 11.64%
- 5Y*
- 11.46%
- 10Y*
- 5.66%
ETL2.DE vs. EXXY.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
EXXY.DE iShares Diversified Commodity Swap UCITS ETF (DE) | 23.43% | 3.90% | 10.13% | -10.90% | 21.43% | 38.49% | -14.34% | 8.73% | -6.18% | -12.20% |
Correlation
The correlation between ETL2.DE and EXXY.DE is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since May 7, 2010 | 0.94 |
The correlation between ETL2.DE and EXXY.DE has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ETL2.DE vs. EXXY.DE — Risk / Return Rank
ETL2.DE
EXXY.DE
ETL2.DE vs. EXXY.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Longer Dated All Commodities UCITS ETF (ETL2.DE) and iShares Diversified Commodity Swap UCITS ETF (DE) (EXXY.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.
| ETL2.DE | EXXY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.32 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.59 | 3.78 | -0.19 |
| Martin ratioReturn relative to average drawdown | 8.20 | 8.41 | -0.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ETL2.DE | EXXY.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | 1.78 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 0.65 | +0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.37 | +0.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.02 | +0.24 |
Drawdowns
ETL2.DE vs. EXXY.DE - Drawdown Comparison
The maximum ETL2.DE drawdown since its inception was -47.04%, smaller than the maximum EXXY.DE drawdown of -65.58%. Use the drawdown chart below to compare losses from any high point for ETL2.DE and EXXY.DE.
Loading charts...
Drawdown Indicators
| ETL2.DE | EXXY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.04% | -65.58% | +18.54% |
Max Drawdown (1Y)Largest decline over 1 year | -7.90% | -8.95% | +1.05% |
Max Drawdown (3Y)Largest decline over 3 years | -15.06% | -16.31% | +1.25% |
Max Drawdown (5Y)Largest decline over 5 years | -23.27% | -28.03% | +4.76% |
Max Drawdown (10Y)Largest decline over 10 years | -26.50% | -33.54% | +7.04% |
Current DrawdownCurrent decline from peak | -3.57% | -16.97% | +13.40% |
Average DrawdownAverage peak-to-trough decline | -21.90% | -40.08% | +18.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.46% | 4.03% | -0.57% |
Volatility
ETL2.DE vs. EXXY.DE - Volatility Comparison
The current volatility for L&G Longer Dated All Commodities UCITS ETF (ETL2.DE) is 4.60%, while iShares Diversified Commodity Swap UCITS ETF (DE) (EXXY.DE) has a volatility of 5.99%. This indicates that ETL2.DE experiences smaller price fluctuations and is considered to be less risky than EXXY.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| ETL2.DE | EXXY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 5.99% | -1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 12.74% | 16.80% | -4.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.15% | 18.98% | -3.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.44% | 17.55% | -2.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.69% | 15.32% | -1.63% |
ETL2.DE vs. EXXY.DE - Expense Ratio Comparison
ETL2.DE has a 0.30% expense ratio, which is lower than EXXY.DE's 0.46% expense ratio.
Dividends
ETL2.DE vs. EXXY.DE - Dividend Comparison
Neither ETL2.DE nor EXXY.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, ETL2.DE and EXXY.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, ETL2.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETL2.DE is cheaper with a 0.30% expense ratio, compared with 0.46% for EXXY.DE.
ETL2.DE tracks Bloomberg Commodity 3 Month Forward, while EXXY.DE tracks Bloomberg Commodity. They also come from different issuers: Legal & General and iShares. Their fees differ too: 0.30% for ETL2.DE and 0.46% for EXXY.DE.
Find the right allocation for ETL2.DE and EXXY.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer