ETLX.DE vs. 8PSE.DE
ETLX.DE (L&G Gold Mining UCITS ETF) and 8PSE.DE (Invesco Physical Gold (EUR Hedged) ETC) are both exchange-traded funds - ETLX.DE is a Precious Metals fund tracking the DAXglobal® Gold Miners, while 8PSE.DE is a Gold fund tracking the LBMA Gold Price PM (EUR Hedged). Both are passively managed. Over the past 5 years, ETLX.DE returned 23.41%/yr vs 15.46%/yr for 8PSE.DE. A 0.75 correlation means they provide meaningful diversification when combined. ETLX.DE charges 0.65%/yr vs 0.34%/yr for 8PSE.DE.
Performance
ETLX.DE vs. 8PSE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ETLX.DE achieves a -2.30% return, which is significantly lower than 8PSE.DE's 0.15% return.
ETLX.DE
- 1D
- 0.57%
- 1M
- -6.27%
- YTD
- -2.30%
- 6M
- 5.08%
- 1Y
- 60.19%
- 3Y*
- 46.63%
- 5Y*
- 23.41%
- 10Y*
- 15.32%
8PSE.DE
- 1D
- 0.72%
- 1M
- -4.91%
- YTD
- 0.15%
- 6M
- 4.44%
- 1Y
- 29.12%
- 3Y*
- 28.08%
- 5Y*
- 15.46%
- 10Y*
- —
ETLX.DE vs. 8PSE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ETLX.DE L&G Gold Mining UCITS ETF | -2.30% | 152.55% | 27.41% | 11.05% | -7.10% | -3.32% | -12.95% |
8PSE.DE Invesco Physical Gold (EUR Hedged) ETC | 0.15% | 62.78% | 24.11% | 10.00% | -2.18% | -5.81% | 2.14% |
Correlation
The correlation between ETLX.DE and 8PSE.DE is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2020 | 0.75 |
The correlation between ETLX.DE and 8PSE.DE has been stable across timeframes, ranging from 0.73 to 0.77 - a consistent structural relationship.
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Return for Risk
ETLX.DE vs. 8PSE.DE — Risk / Return Rank
ETLX.DE
8PSE.DE
ETLX.DE vs. 8PSE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Gold Mining UCITS ETF (ETLX.DE) and Invesco Physical Gold (EUR Hedged) ETC (8PSE.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.
| ETLX.DE | 8PSE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.60 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 0.56 | +1.55 |
| Martin ratioReturn relative to average drawdown | 5.29 | 2.31 | +2.98 |
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
| ETLX.DE | 8PSE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.33 | 0.16 | +1.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | 0.17 | +0.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.16 | +0.06 |
Drawdowns
ETLX.DE vs. 8PSE.DE - Drawdown Comparison
The maximum ETLX.DE drawdown since its inception was -73.44%, which is greater than 8PSE.DE's maximum drawdown of -50.81%. Use the drawdown chart below to compare losses from any high point for ETLX.DE and 8PSE.DE.
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Drawdown Indicators
| ETLX.DE | 8PSE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.44% | -50.81% | -22.63% |
Max Drawdown (1Y)Largest decline over 1 year | -28.89% | -50.81% | +21.92% |
Max Drawdown (3Y)Largest decline over 3 years | -28.89% | -50.81% | +21.92% |
Max Drawdown (5Y)Largest decline over 5 years | -42.03% | -50.81% | +8.78% |
Max Drawdown (10Y)Largest decline over 10 years | -47.05% | — | — |
Current DrawdownCurrent decline from peak | -24.71% | -16.31% | -8.40% |
Average DrawdownAverage peak-to-trough decline | -34.69% | -10.13% | -24.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.52% | 12.27% | -0.75% |
Volatility
ETLX.DE vs. 8PSE.DE - Volatility Comparison
L&G Gold Mining UCITS ETF (ETLX.DE) has a higher volatility of 14.03% compared to Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE) at 5.95%. This indicates that ETLX.DE's price experiences larger fluctuations and is considered to be riskier than 8PSE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETLX.DE | 8PSE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.03% | 5.95% | +8.08% |
Volatility (6M)Calculated over the trailing 6-month period | 35.22% | 71.01% | -35.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.70% | 181.73% | -136.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.04% | 87.63% | -51.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.83% | 81.06% | -47.23% |
ETLX.DE vs. 8PSE.DE - Expense Ratio Comparison
ETLX.DE has a 0.65% expense ratio, which is higher than 8PSE.DE's 0.34% expense ratio.
Dividends
ETLX.DE vs. 8PSE.DE - Dividend Comparison
Neither ETLX.DE nor 8PSE.DE has paid dividends to shareholders.
Frequently Asked Questions
ETLX.DE and 8PSE.DE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 8PSE.DE is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.
8PSE.DE is cheaper with a 0.34% expense ratio, compared with 0.65% for ETLX.DE.
ETLX.DE is categorized as Precious Metals, while 8PSE.DE is Gold. ETLX.DE tracks DAXglobal® Gold Miners, while 8PSE.DE tracks LBMA Gold Price PM (EUR Hedged). They also come from different issuers: Legal & General and Invesco. Their fees differ too: 0.65% for ETLX.DE and 0.34% for 8PSE.DE.
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