ETLX.DE vs. BOLD.DE
ETLX.DE (L&G Gold Mining UCITS ETF) and BOLD.DE (21Shares Bitcoin Gold ETP) are both exchange-traded funds - ETLX.DE is a Gold fund tracking the DAXglobal® Gold Miners, while BOLD.DE is a Cryptocurrency fund actively managed by 21Shares. ETLX.DE is passively managed, while BOLD.DE is actively managed. Over the past 3 years, ETLX.DE returned 45.22%/yr vs 23.40%/yr for BOLD.DE. At a 0.38 correlation, their price movements are largely independent. Both charge a 0.65% expense ratio.
Performance
ETLX.DE vs. BOLD.DE - Performance Comparison
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Different Trading Currencies
ETLX.DE is traded in EUR, while BOLD.DE is traded in USD. To make them comparable, the BOLD.DE values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ETLX.DE achieves a -11.01% return, which is significantly lower than BOLD.DE's -9.59% return.
ETLX.DE
- 1D
- 2.13%
- 1M
- -10.68%
- YTD
- -11.01%
- 6M
- -13.14%
- 1Y
- 54.70%
- 3Y*
- 45.22%
- 5Y*
- 23.98%
- 10Y*
- 13.24%
BOLD.DE
- 1D
- 0.00%
- 1M
- -11.34%
- YTD
- -9.59%
- 6M
- -9.83%
- 1Y
- 0.76%
- 3Y*
- 23.40%
- 5Y*
- —
- 10Y*
- —
ETLX.DE vs. BOLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ETLX.DE L&G Gold Mining UCITS ETF | -11.01% | 152.51% | 27.45% | 11.01% | -10.77% |
BOLD.DE 21Shares Bitcoin Gold ETP | -9.59% | 11.16% | 67.20% | 29.02% | -10.27% |
Correlation
The correlation between ETLX.DE and BOLD.DE is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since May 24, 2022 | 0.38 |
The correlation between ETLX.DE and BOLD.DE shifts across timeframes, from 0.38 (all time) to 0.54 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ETLX.DE vs. BOLD.DE — Risk / Return Rank
ETLX.DE
BOLD.DE
ETLX.DE vs. BOLD.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 21Shares Bitcoin Gold ETP (BOLD.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ETLX.DE | BOLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.12 | ||
| Sortino ratioReturn per unit of downside risk | +1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.03 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 0.04 | +1.53 |
| Martin ratioReturn relative to average drawdown | 4.06 | 0.11 | +3.96 |
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Drawdowns
ETLX.DE vs. BOLD.DE - Drawdown Comparison
The maximum ETLX.DE drawdown since its inception was -73.44%, which is greater than BOLD.DE's maximum drawdown of -18.44%. Use the drawdown chart below to compare losses from any high point for ETLX.DE and BOLD.DE.
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Drawdown Indicators
| ETLX.DE | BOLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.44% | -18.44% | -55.00% |
Max Drawdown (1Y)Largest decline over 1 year | -34.64% | -18.44% | -16.20% |
Max Drawdown (3Y)Largest decline over 3 years | -34.64% | -18.44% | -16.20% |
Max Drawdown (5Y)Largest decline over 5 years | -42.01% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -47.06% | — | — |
Current DrawdownCurrent decline from peak | -31.42% | -17.87% | -13.55% |
Average DrawdownAverage peak-to-trough decline | -34.39% | -5.24% | -29.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.42% | 7.13% | +6.29% |
Volatility
ETLX.DE vs. BOLD.DE - Volatility Comparison
L&G Gold Mining UCITS ETF (ETLX.DE) has a higher volatility of 18.05% compared to 21Shares Bitcoin Gold ETP (BOLD.DE) at 8.32%. This indicates that ETLX.DE's price experiences larger fluctuations and is considered to be riskier than BOLD.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 | BOLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.05% | 8.32% | +9.73% |
Volatility (6M)Calculated over the trailing 6-month period | 37.79% | 19.98% | +17.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.47% | 24.16% | +23.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.52% | 20.08% | +16.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.99% | 20.08% | +13.91% |
ETLX.DE vs. BOLD.DE - Expense Ratio Comparison
Both ETLX.DE and BOLD.DE have an expense ratio of 0.65%.
Dividends
ETLX.DE vs. BOLD.DE - Dividend Comparison
Neither ETLX.DE nor BOLD.DE has paid dividends to shareholders.
Frequently Asked Questions
ETLX.DE and BOLD.DE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.65% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
ETLX.DE and BOLD.DE have the same expense ratio: 0.65% per year.
ETLX.DE is categorized as Gold, while BOLD.DE is Cryptocurrency. They also come from different issuers: Legal & General and 21Shares.
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