ETLX.DE vs. DEAM.DE
ETLX.DE (L&G Gold Mining UCITS ETF) and DEAM.DE (Invesco MDAX UCITS ETF A) are both exchange-traded funds - ETLX.DE is a Gold fund tracking the DAXglobal® Gold Miners, while DEAM.DE is a Europe Equities fund tracking the MDAX®. Both are passively managed. Over the past 5 years, ETLX.DE returned 22.00%/yr vs -1.95%/yr for DEAM.DE. At a 0.22 correlation, their price movements are largely independent. ETLX.DE charges 0.65%/yr vs 0.19%/yr for DEAM.DE.
Performance
ETLX.DE vs. DEAM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ETLX.DE achieves a -17.69% return, which is significantly lower than DEAM.DE's 3.71% return.
ETLX.DE
- 1D
- -1.41%
- 1M
- -14.44%
- 6M
- -25.07%
- YTD
- -17.69%
- 1Y
- 45.65%
- 3Y*
- 37.92%
- 5Y*
- 22.00%
- 10Y*
- 11.24%
DEAM.DE
- 1D
- 0.06%
- 1M
- -1.89%
- 6M
- -0.55%
- YTD
- 3.71%
- 1Y
- 2.10%
- 3Y*
- 3.87%
- 5Y*
- -1.95%
- 10Y*
- —
ETLX.DE vs. DEAM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ETLX.DE L&G Gold Mining UCITS ETF | -17.69% | 152.51% | 27.45% | 11.01% | -7.07% | -3.33% | 12.25% | 32.52% |
DEAM.DE Invesco MDAX UCITS ETF A | 3.71% | 19.33% | -6.04% | 7.34% | -28.80% | 13.67% | 8.06% | 20.37% |
Correlation
The correlation between ETLX.DE and DEAM.DE is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2019 | 0.22 |
The correlation between ETLX.DE and DEAM.DE shifts across timeframes, from 0.22 (all time) to 0.40 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ETLX.DE vs. DEAM.DE — Risk / Return Rank
ETLX.DE
DEAM.DE
ETLX.DE vs. DEAM.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 MDAX UCITS ETF A (DEAM.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 | DEAM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.83 | ||
| Sortino ratioReturn per unit of downside risk | +1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.04 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.25 | 0.15 | +1.10 |
| Martin ratioReturn relative to average drawdown | 2.92 | 0.43 | +2.49 |
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Drawdowns
ETLX.DE vs. DEAM.DE - Drawdown Comparison
The maximum ETLX.DE drawdown since its inception was -73.44%, which is greater than DEAM.DE's maximum drawdown of -40.04%. Use the drawdown chart below to compare losses from any high point for ETLX.DE and DEAM.DE.
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Drawdown Indicators
| ETLX.DE | DEAM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.44% | -40.04% | -33.40% |
Max Drawdown (1Y)Largest decline over 1 year | -36.57% | -14.95% | -21.62% |
Max Drawdown (3Y)Largest decline over 3 years | -36.57% | -18.48% | -18.09% |
Max Drawdown (5Y)Largest decline over 5 years | -42.01% | -40.04% | -1.97% |
Max Drawdown (10Y)Largest decline over 10 years | -47.06% | — | — |
Current DrawdownCurrent decline from peak | -36.57% | -13.92% | -22.65% |
Average DrawdownAverage peak-to-trough decline | -34.38% | -16.18% | -18.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.71% | 5.36% | +10.35% |
Volatility
ETLX.DE vs. DEAM.DE - Volatility Comparison
L&G Gold Mining UCITS ETF (ETLX.DE) has a higher volatility of 13.74% compared to Invesco MDAX UCITS ETF A (DEAM.DE) at 4.94%. This indicates that ETLX.DE's price experiences larger fluctuations and is considered to be riskier than DEAM.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 | DEAM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.74% | 4.94% | +8.80% |
Volatility (6M)Calculated over the trailing 6-month period | 37.76% | 15.96% | +21.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 48.26% | 18.83% | +29.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.80% | 19.40% | +17.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.09% | 19.56% | +14.53% |
ETLX.DE vs. DEAM.DE - Expense Ratio Comparison
ETLX.DE has a 0.65% expense ratio, which is higher than DEAM.DE's 0.19% expense ratio.
Dividends
ETLX.DE vs. DEAM.DE - Dividend Comparison
Neither ETLX.DE nor DEAM.DE has paid dividends to shareholders.
Frequently Asked Questions
ETLX.DE and DEAM.DE have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DEAM.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DEAM.DE is cheaper with a 0.19% expense ratio, compared with 0.65% for ETLX.DE.
ETLX.DE is categorized as Gold, while DEAM.DE is Europe Equities. ETLX.DE tracks DAXglobal® Gold Miners, while DEAM.DE tracks MDAX®. They also come from different issuers: Legal & General and Invesco. Their fees differ too: 0.65% for ETLX.DE and 0.19% for DEAM.DE.
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