GLCR vs. PBEU

Last updated Jun 24, 2026

GLCR (GlacierShares Nasdaq Iceland ETF) and PBEU (Portfolio Building Block European Banks Index ETF) are both exchange-traded funds - GLCR is a Europe Equities fund tracking the MarketVector Iceland Global Total Return Net Index, while PBEU is a Financials Equities fund tracking the BITA European Banks Index. Both are passively managed. A 0.54 correlation means they provide meaningful diversification when combined. GLCR charges 0.95%/yr vs 0.13%/yr for PBEU.

Performance

GLCR vs. PBEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GlacierShares Nasdaq Iceland ETF (GLCR) and Portfolio Building Block European Banks Index ETF (PBEU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLCR achieves a -12.59% return, which is significantly lower than PBEU's 13.63% return.

GLCR

• 1D: -0.79%
• 1M: -11.61%
• YTD: -12.59%
• 6M: -11.75%
• 1Y: -6.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PBEU

• 1D: -1.42%
• 1M: 7.22%
• YTD: 13.63%
• 6M: 14.09%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GLCR vs. PBEU - Yearly Performance Comparison

	2026 (YTD)	2025
GLCR GlacierShares Nasdaq Iceland ETF	-12.59%	8.34%
PBEU Portfolio Building Block European Banks Index ETF	13.63%	11.42%

Correlation

The correlation between GLCR and PBEU 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 (All Time) Calculated using the full available price history since Nov 25, 2025	0.54

Return for Risk

GLCR vs. PBEU — Risk / Return Rank

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

GLCR

GLCR Risk / Return Rank: 5
GLCR Sharpe Ratio Rank: 6
GLCR Sortino Ratio Rank: 5
GLCR Omega Ratio Rank: 5
GLCR Calmar Ratio Rank: 6
GLCR Martin Ratio Rank: 5

PBEU

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

GLCR vs. PBEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GlacierShares Nasdaq Iceland ETF (GLCR) and Portfolio Building Block European Banks Index ETF (PBEU). 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.

	GLCR	PBEU	Difference
Sharpe ratio: Return per unit of total volatility	-0.41	—	—
Sortino ratio: Return per unit of downside risk	-0.44	—	—
Omega ratio: Gain probability vs. loss probability	0.94	—	—
Calmar ratio: Return relative to maximum drawdown	-0.36	—	—
Martin ratio: Return relative to average drawdown	-0.94	—	—

Drawdowns

GLCR vs. PBEU - Drawdown Comparison

The maximum GLCR drawdown since its inception was -18.74%, which is greater than PBEU's maximum drawdown of -17.26%. Use the drawdown chart below to compare losses from any high point for GLCR and PBEU.

Drawdown Indicators

	GLCR	PBEU	Difference
Max Drawdown Largest peak-to-trough decline	-18.74%	-17.26%	-1.48%
Max Drawdown (1Y) Largest decline over 1 year	-18.74%	—	—
Current Drawdown Current decline from peak	-18.74%	-1.42%	-17.32%
Average Drawdown Average peak-to-trough decline	-5.15%	-3.94%	-1.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.18%	—	—

Volatility

Volatility by Period

	GLCR	PBEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.06%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.41%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.77%	27.63%	-10.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.57%	27.63%	-9.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.57%	27.63%	-9.06%

GLCR vs. PBEU - Expense Ratio Comparison

GLCR has a 0.95% expense ratio, which is higher than PBEU's 0.13% expense ratio.

Dividends

GLCR vs. PBEU - Dividend Comparison

GLCR's dividend yield for the trailing twelve months is around 1.11%, more than PBEU's 0.01% yield.

Position	TTM	2025
GLCR GlacierShares Nasdaq Iceland ETF	1.11%	0.97%
PBEU Portfolio Building Block European Banks Index ETF	0.01%	0.01%

Frequently Asked Questions

Can I hold both GLCR and PBEU in my portfolio?

GLCR and PBEU 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.

Which ETF is better, GLCR or PBEU?

On fees, PBEU is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GLCR or PBEU?

PBEU is cheaper with a 0.13% expense ratio, compared with 0.95% for GLCR.

Which ETF pays a higher dividend yield, GLCR or PBEU?

GLCR has the higher dividend yield at 1.11%, compared with 0.01% for PBEU.

What is the main difference between GLCR and PBEU?

GLCR is categorized as Europe Equities, while PBEU is Financials Equities. GLCR tracks MarketVector Iceland Global Total Return Net Index, while PBEU tracks BITA European Banks Index. They also come from different issuers: Teucrium and Portfolio Building Block. Their fees differ too: 0.95% for GLCR and 0.13% for PBEU.