ETL2.DE vs. LGGE.DE
ETL2.DE (L&G Longer Dated All Commodities UCITS ETF) and LGGE.DE (L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF) are both exchange-traded funds - ETL2.DE is a Commodities fund tracking the Bloomberg Commodity 3 Month Forward, while LGGE.DE is a Europe Equities fund tracking the FTSE Developed Europe ex UK All Cap ex CW ex TC ex REITS Dividend Growth with Quality. Both are passively managed. Over the past 3 years, ETL2.DE returned 10.87%/yr vs 24.04%/yr for LGGE.DE. At a 0.07 correlation, their price movements are largely independent. ETL2.DE charges 0.30%/yr vs 0.25%/yr for LGGE.DE.
Performance
ETL2.DE vs. LGGE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ETL2.DE achieves a 18.23% return, which is significantly higher than LGGE.DE's 11.27% 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%
LGGE.DE
- 1D
- 0.15%
- 1M
- -0.22%
- YTD
- 11.27%
- 6M
- 15.32%
- 1Y
- 26.49%
- 3Y*
- 24.04%
- 5Y*
- —
- 10Y*
- —
ETL2.DE vs. LGGE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ETL2.DE L&G Longer Dated All Commodities UCITS ETF | 18.23% | 4.89% | 11.54% | -9.44% | 24.86% | 14.02% |
LGGE.DE L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF | 11.27% | 38.29% | 14.07% | 17.18% | -3.86% | 7.23% |
Correlation
The correlation between ETL2.DE and LGGE.DE is -0.14, 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 | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2021 | 0.07 |
The correlation between ETL2.DE and LGGE.DE shifts across timeframes, from -0.14 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ETL2.DE vs. LGGE.DE — Risk / Return Rank
ETL2.DE
LGGE.DE
ETL2.DE vs. LGGE.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 L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LGGE.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 | LGGE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.40 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.59 | 3.61 | -0.02 |
| Martin ratioReturn relative to average drawdown | 8.20 | 13.07 | -4.87 |
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
| ETL2.DE | LGGE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | 2.19 | -0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 1.13 | -0.87 |
Drawdowns
ETL2.DE vs. LGGE.DE - Drawdown Comparison
The maximum ETL2.DE drawdown since its inception was -47.04%, which is greater than LGGE.DE's maximum drawdown of -20.11%. Use the drawdown chart below to compare losses from any high point for ETL2.DE and LGGE.DE.
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Drawdown Indicators
| ETL2.DE | LGGE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.04% | -20.11% | -26.93% |
Max Drawdown (1Y)Largest decline over 1 year | -7.90% | -7.28% | -0.62% |
Max Drawdown (3Y)Largest decline over 3 years | -15.06% | -14.71% | -0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -23.27% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -26.50% | — | — |
Current DrawdownCurrent decline from peak | -3.57% | -2.09% | -1.48% |
Average DrawdownAverage peak-to-trough decline | -21.90% | -3.23% | -18.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.46% | 2.01% | +1.45% |
Volatility
ETL2.DE vs. LGGE.DE - Volatility Comparison
L&G Longer Dated All Commodities UCITS ETF (ETL2.DE) has a higher volatility of 4.60% compared to L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LGGE.DE) at 3.60%. This indicates that ETL2.DE's price experiences larger fluctuations and is considered to be riskier than LGGE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETL2.DE | LGGE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 3.60% | +1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 12.74% | 9.47% | +3.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.15% | 11.99% | +3.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.44% | 14.60% | +0.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.69% | 14.60% | -0.91% |
ETL2.DE vs. LGGE.DE - Expense Ratio Comparison
ETL2.DE has a 0.30% expense ratio, which is higher than LGGE.DE's 0.25% expense ratio.
Dividends
ETL2.DE vs. LGGE.DE - Dividend Comparison
ETL2.DE has not paid dividends to shareholders, while LGGE.DE's dividend yield for the trailing twelve months is around 3.13%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
ETL2.DE L&G Longer Dated All Commodities UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LGGE.DE L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF | 3.13% | 3.47% | 4.37% | 4.43% | 4.18% | 1.52% |
Frequently Asked Questions
ETL2.DE and LGGE.DE have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LGGE.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LGGE.DE is cheaper with a 0.25% expense ratio, compared with 0.30% for ETL2.DE.
ETL2.DE is categorized as Commodities, while LGGE.DE is Europe Equities. ETL2.DE tracks Bloomberg Commodity 3 Month Forward, while LGGE.DE tracks FTSE Developed Europe ex UK All Cap ex CW ex TC ex REITS Dividend Growth with Quality. Their fees differ too: 0.30% for ETL2.DE and 0.25% for LGGE.DE.
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