ETLK.DE vs. ETL2.DE
ETLK.DE (L&G Asia Pacific ex Japan Equity UCITS ETF) and ETL2.DE (L&G Longer Dated All Commodities UCITS ETF) are both exchange-traded funds - ETLK.DE is a Asia Pacific Equities fund tracking the Solactive Core Developed Markets Pacific ex Japan Large & Mid Cap, while ETL2.DE is a Commodities fund tracking the Bloomberg Commodity 3 Month Forward. Both are passively managed. Over the past 5 years, ETLK.DE returned 5.51%/yr vs 13.12%/yr for ETL2.DE. At a 0.31 correlation, their price movements are largely independent. ETLK.DE charges 0.10%/yr vs 0.30%/yr for ETL2.DE.
Performance
ETLK.DE vs. ETL2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ETLK.DE achieves a 8.76% return, which is significantly lower than ETL2.DE's 18.23% return.
ETLK.DE
- 1D
- -0.99%
- 1M
- -2.56%
- YTD
- 8.76%
- 6M
- 10.04%
- 1Y
- 13.52%
- 3Y*
- 10.15%
- 5Y*
- 5.51%
- 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%
ETLK.DE vs. ETL2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ETLK.DE L&G Asia Pacific ex Japan Equity UCITS ETF | 8.76% | 7.52% | 11.54% | 1.26% | -0.49% | 11.62% | -1.71% | 15.82% |
ETL2.DE L&G Longer Dated All Commodities UCITS ETF | 18.23% | 4.89% | 11.54% | -9.44% | 24.86% | 46.17% | -7.55% | 6.79% |
Correlation
The correlation between ETLK.DE and ETL2.DE is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jan 17, 2019 | 0.31 |
Over the past year, the correlation between ETLK.DE and ETL2.DE has dropped to 0.04 - well below their long-term average of 0.31, suggesting their price drivers have been diverging.
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Return for Risk
ETLK.DE vs. ETL2.DE — Risk / Return Rank
ETLK.DE
ETL2.DE
ETLK.DE vs. ETL2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Asia Pacific ex Japan Equity UCITS ETF (ETLK.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.
| ETLK.DE | ETL2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.33 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 3.59 | -1.25 |
| Martin ratioReturn relative to average drawdown | 6.47 | 8.20 | -1.72 |
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
| ETLK.DE | ETL2.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.16 | 1.87 | -0.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.84 | -0.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.25 | +0.14 |
Drawdowns
ETLK.DE vs. ETL2.DE - Drawdown Comparison
The maximum ETLK.DE drawdown since its inception was -36.72%, smaller than the maximum ETL2.DE drawdown of -47.04%. Use the drawdown chart below to compare losses from any high point for ETLK.DE and ETL2.DE.
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Drawdown Indicators
| ETLK.DE | ETL2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.72% | -47.04% | +10.32% |
Max Drawdown (1Y)Largest decline over 1 year | -5.98% | -7.90% | +1.92% |
Max Drawdown (3Y)Largest decline over 3 years | -19.89% | -15.06% | -4.83% |
Max Drawdown (5Y)Largest decline over 5 years | -19.89% | -23.27% | +3.38% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.50% | — |
Current DrawdownCurrent decline from peak | -2.56% | -3.57% | +1.01% |
Average DrawdownAverage peak-to-trough decline | -5.76% | -21.90% | +16.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 3.46% | -1.30% |
Volatility
ETLK.DE vs. ETL2.DE - Volatility Comparison
The current volatility for L&G Asia Pacific ex Japan Equity UCITS ETF (ETLK.DE) is 3.38%, while L&G Longer Dated All Commodities UCITS ETF (ETL2.DE) has a volatility of 4.60%. This indicates that ETLK.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.
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Volatility by Period
| ETLK.DE | ETL2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.38% | 4.60% | -1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 9.32% | 12.74% | -3.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.02% | 15.15% | -3.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.78% | 15.44% | -0.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.21% | 13.69% | +4.52% |
ETLK.DE vs. ETL2.DE - Expense Ratio Comparison
ETLK.DE has a 0.10% expense ratio, which is lower than ETL2.DE's 0.30% expense ratio.
Dividends
ETLK.DE vs. ETL2.DE - Dividend Comparison
Neither ETLK.DE nor ETL2.DE has paid dividends to shareholders.
Frequently Asked Questions
ETLK.DE and ETL2.DE have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ETLK.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETLK.DE is cheaper with a 0.10% expense ratio, compared with 0.30% for ETL2.DE.
ETLK.DE is categorized as Asia Pacific Equities, while ETL2.DE is Commodities. ETLK.DE tracks Solactive Core Developed Markets Pacific ex Japan Large & Mid Cap, while ETL2.DE tracks Bloomberg Commodity 3 Month Forward. Their fees differ too: 0.10% for ETLK.DE and 0.30% for ETL2.DE.
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