ETLX.DE vs. CD91.DE

Last updated Jun 5, 2026

ETLX.DE (L&G Gold Mining UCITS ETF) and CD91.DE (Amundi NYSE Arca Gold Bugs UCITS ETF Dist) are both exchange-traded funds - ETLX.DE is a Precious Metals fund tracking the DAXglobal® Gold Miners, while CD91.DE is a Gold fund tracking the NYSE Arca Gold BUGS. Both are passively managed. Over the past 10 years, ETLX.DE returned 15.32%/yr vs 12.49%/yr for CD91.DE. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.65% expense ratio.

Performance

ETLX.DE vs. CD91.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in L&G Gold Mining UCITS ETF (ETLX.DE) and Amundi NYSE Arca Gold Bugs UCITS ETF Dist (CD91.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETLX.DE achieves a -2.30% return, which is significantly lower than CD91.DE's 2.09% return. Over the past 10 years, ETLX.DE has outperformed CD91.DE with an annualized return of 15.32%, while CD91.DE has yielded a comparatively lower 12.49% annualized 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%

CD91.DE

• 1D: 0.92%
• 1M: -5.91%
• YTD: 2.09%
• 6M: 9.63%
• 1Y: 66.70%
• 3Y*: 40.18%
• 5Y*: 20.17%
• 10Y*: 12.49%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ETLX.DE vs. CD91.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ETLX.DE L&G Gold Mining UCITS ETF	-2.30%	152.55%	27.41%	11.05%	-7.10%	-3.32%	12.25%	42.55%	-5.79%	-3.18%
CD91.DE Amundi NYSE Arca Gold Bugs UCITS ETF Dist	2.09%	132.40%	20.73%	2.42%	-1.60%	-8.06%	15.38%	49.81%	-12.27%	-11.24%

Correlation

The correlation between ETLX.DE and CD91.DE is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since May 18, 2010	0.93

The correlation between ETLX.DE and CD91.DE has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

ETLX.DE vs. CD91.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ETLX.DE

ETLX.DE Risk / Return Rank: 37
ETLX.DE Sharpe Ratio Rank: 38
ETLX.DE Sortino Ratio Rank: 35
ETLX.DE Omega Ratio Rank: 36
ETLX.DE Calmar Ratio Rank: 43
ETLX.DE Martin Ratio Rank: 35

CD91.DE

CD91.DE Risk / Return Rank: 44
CD91.DE Sharpe Ratio Rank: 46
CD91.DE Sortino Ratio Rank: 41
CD91.DE Omega Ratio Rank: 42
CD91.DE Calmar Ratio Rank: 51
CD91.DE Martin Ratio Rank: 40

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ETLX.DE vs. CD91.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 Amundi NYSE Arca Gold Bugs UCITS ETF Dist (CD91.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	CD91.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.60	-0.27
Sortino ratio: Return per unit of downside risk	1.81	2.06	-0.24
Omega ratio: Gain probability vs. loss probability	1.23	1.27	-0.03
Calmar ratio: Return relative to maximum drawdown	2.11	2.49	-0.38
Martin ratio: Return relative to average drawdown	5.29	6.17	-0.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETLX.DE vs. CD91.DE - Sharpe Ratio Comparison

The current ETLX.DE Sharpe Ratio is 1.33, which is comparable to the CD91.DE Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of ETLX.DE and CD91.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ETLX.DE	CD91.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.33	1.60	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.58	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.36	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.09	+0.14

Drawdowns

ETLX.DE vs. CD91.DE - Drawdown Comparison

The maximum ETLX.DE drawdown since its inception was -73.44%, smaller than the maximum CD91.DE drawdown of -80.32%. Use the drawdown chart below to compare losses from any high point for ETLX.DE and CD91.DE.

Drawdown Indicators

	ETLX.DE	CD91.DE	Difference
Max Drawdown Largest peak-to-trough decline	-73.44%	-80.32%	+6.88%
Max Drawdown (1Y) Largest decline over 1 year	-28.89%	-27.16%	-1.73%
Max Drawdown (3Y) Largest decline over 3 years	-28.89%	-27.16%	-1.73%
Max Drawdown (5Y) Largest decline over 5 years	-42.03%	-39.56%	-2.47%
Max Drawdown (10Y) Largest decline over 10 years	-47.05%	-55.46%	+8.41%
Current Drawdown Current decline from peak	-24.71%	-23.41%	-1.30%
Average Drawdown Average peak-to-trough decline	-34.69%	-46.60%	+11.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.52%	10.95%	+0.57%

Volatility

ETLX.DE vs. CD91.DE - Volatility Comparison

L&G Gold Mining UCITS ETF (ETLX.DE) and Amundi NYSE Arca Gold Bugs UCITS ETF Dist (CD91.DE) have volatilities of 14.03% and 13.40%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETLX.DE	CD91.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.03%	13.40%	+0.63%
Volatility (6M) Calculated over the trailing 6-month period	35.22%	33.89%	+1.33%
Volatility (1Y) Calculated over the trailing 1-year period	45.70%	42.29%	+3.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.04%	34.31%	+1.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.83%	34.40%	-0.57%

ETLX.DE vs. CD91.DE - Expense Ratio Comparison

Both ETLX.DE and CD91.DE have an expense ratio of 0.65%.

Dividends

ETLX.DE vs. CD91.DE - Dividend Comparison

ETLX.DE has not paid dividends to shareholders, while CD91.DE's dividend yield for the trailing twelve months is around 0.13%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CD91.DE Amundi NYSE Arca Gold Bugs UCITS ETF Dist	0.13%	0.14%	0.31%	2.37%	1.05%	0.46%	0.14%	0.30%	0.00%	0.57%
ETLX.DE L&G Gold Mining UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ETLX.DE and CD91.DE in my portfolio?

With a correlation of 0.94, ETLX.DE and CD91.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.

Which ETF is better, ETLX.DE or CD91.DE?

Both ETFs have the same 0.65% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ETLX.DE or CD91.DE?

ETLX.DE and CD91.DE have the same expense ratio: 0.65% per year.

What is the main difference between ETLX.DE and CD91.DE?

ETLX.DE is categorized as Precious Metals, while CD91.DE is Gold. ETLX.DE tracks DAXglobal® Gold Miners, while CD91.DE tracks NYSE Arca Gold BUGS. They also come from different issuers: Legal & General and Amundi.