ETLX.DE vs. EN4C.DE
ETLX.DE (L&G Gold Mining UCITS ETF) and EN4C.DE (L&G Multi-Strategy Enhanced Commodities UCITS ETF) are both exchange-traded funds - ETLX.DE is a Precious Metals fund tracking the DAXglobal® Gold Miners, while EN4C.DE is a Commodities fund tracking the Barclays Backwardation Tilt Multi-Strategy Capped. Both are passively managed. Over the past 3 years, ETLX.DE returned 46.63%/yr vs 9.70%/yr for EN4C.DE. At a 0.16 correlation, their price movements are largely independent. ETLX.DE charges 0.65%/yr vs 0.30%/yr for EN4C.DE.
Performance
ETLX.DE vs. EN4C.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 EN4C.DE's 24.44% 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%
EN4C.DE
- 1D
- -1.57%
- 1M
- 0.45%
- YTD
- 24.44%
- 6M
- 23.08%
- 1Y
- 29.56%
- 3Y*
- 9.70%
- 5Y*
- —
- 10Y*
- —
ETLX.DE vs. EN4C.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ETLX.DE L&G Gold Mining UCITS ETF | -2.30% | 152.55% | 27.41% | 11.05% | -7.10% | 12.79% |
EN4C.DE L&G Multi-Strategy Enhanced Commodities UCITS ETF | 24.44% | -3.13% | 9.93% | -5.63% | 29.83% | 10.18% |
Correlation
The correlation between ETLX.DE and EN4C.DE is -0.08, 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 | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2021 | 0.16 |
The correlation between ETLX.DE and EN4C.DE shifts across timeframes, from -0.08 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ETLX.DE vs. EN4C.DE — Risk / Return Rank
ETLX.DE
EN4C.DE
ETLX.DE vs. EN4C.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 L&G Multi-Strategy Enhanced Commodities UCITS ETF (EN4C.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 | EN4C.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.29 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 3.44 | -1.34 |
| Martin ratioReturn relative to average drawdown | 5.29 | 8.36 | -3.07 |
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 | EN4C.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.33 | 1.69 | -0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | — | — |
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 | 0.72 | -0.49 |
Drawdowns
ETLX.DE vs. EN4C.DE - Drawdown Comparison
The maximum ETLX.DE drawdown since its inception was -73.44%, which is greater than EN4C.DE's maximum drawdown of -25.41%. Use the drawdown chart below to compare losses from any high point for ETLX.DE and EN4C.DE.
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Drawdown Indicators
| ETLX.DE | EN4C.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.44% | -25.41% | -48.03% |
Max Drawdown (1Y)Largest decline over 1 year | -28.89% | -8.81% | -20.08% |
Max Drawdown (3Y)Largest decline over 3 years | -28.89% | -17.63% | -11.26% |
Max Drawdown (5Y)Largest decline over 5 years | -42.03% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -47.05% | — | — |
Current DrawdownCurrent decline from peak | -24.71% | -4.02% | -20.69% |
Average DrawdownAverage peak-to-trough decline | -34.69% | -13.89% | -20.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.52% | 3.64% | +7.88% |
Volatility
ETLX.DE vs. EN4C.DE - Volatility Comparison
L&G Gold Mining UCITS ETF (ETLX.DE) has a higher volatility of 14.03% compared to L&G Multi-Strategy Enhanced Commodities UCITS ETF (EN4C.DE) at 5.98%. This indicates that ETLX.DE's price experiences larger fluctuations and is considered to be riskier than EN4C.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 | EN4C.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.03% | 5.98% | +8.05% |
Volatility (6M)Calculated over the trailing 6-month period | 35.22% | 14.54% | +20.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.70% | 17.98% | +27.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.04% | 18.11% | +17.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.83% | 18.11% | +15.72% |
ETLX.DE vs. EN4C.DE - Expense Ratio Comparison
ETLX.DE has a 0.65% expense ratio, which is higher than EN4C.DE's 0.30% expense ratio.
Dividends
ETLX.DE vs. EN4C.DE - Dividend Comparison
Neither ETLX.DE nor EN4C.DE has paid dividends to shareholders.
Frequently Asked Questions
ETLX.DE and EN4C.DE have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EN4C.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EN4C.DE is cheaper with a 0.30% expense ratio, compared with 0.65% for ETLX.DE.
ETLX.DE is categorized as Precious Metals, while EN4C.DE is Commodities. ETLX.DE tracks DAXglobal® Gold Miners, while EN4C.DE tracks Barclays Backwardation Tilt Multi-Strategy Capped. Their fees differ too: 0.65% for ETLX.DE and 0.30% for EN4C.DE.
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