GLDA.DE vs. GOLD.AS
GLDA.DE (Amundi Physical Gold ETC (C)) and GOLD.AS (Amundi Physical Gold ETC C) are both Precious Metals funds from Amundi - GLDA.DE tracks the Gold while GOLD.AS tracks the LMBA Gold Price PM USD. Both are passively managed. Over the past 5 years, GLDA.DE returned 19.71%/yr vs 19.71%/yr for GOLD.AS. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.12% expense ratio.
Performance
GLDA.DE vs. GOLD.AS - Performance Comparison
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Different Trading Currencies
GLDA.DE is traded in EUR, while GOLD.AS is traded in USD. To make them comparable, the GOLD.AS values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, GLDA.DE achieves a 2.73% return, which is significantly lower than GOLD.AS's 4.78% return.
GLDA.DE
- 1D
- 0.57%
- 1M
- -1.60%
- YTD
- 2.73%
- 6M
- 6.36%
- 1Y
- 30.16%
- 3Y*
- 28.03%
- 5Y*
- 19.71%
- 10Y*
- —
GOLD.AS
- 1D
- 0.53%
- 1M
- -1.71%
- YTD
- 4.78%
- 6M
- 6.30%
- 1Y
- 30.12%
- 3Y*
- 28.06%
- 5Y*
- 19.71%
- 10Y*
- —
GLDA.DE vs. GOLD.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GLDA.DE Amundi Physical Gold ETC (C) | 2.73% | 48.99% | 34.24% | 9.40% | 7.00% | 3.88% | 12.92% | 8.39% |
GOLD.AS Amundi Physical Gold ETC C | 4.78% | 45.37% | 34.71% | 9.95% | 6.06% | 3.08% | 14.06% | 8.72% |
Correlation
The correlation between GLDA.DE and GOLD.AS is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2019 | 0.93 |
The correlation between GLDA.DE and GOLD.AS has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
GLDA.DE vs. GOLD.AS — Risk / Return Rank
GLDA.DE
GOLD.AS
GLDA.DE vs. GOLD.AS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Physical Gold ETC (C) (GLDA.DE) and Amundi Physical Gold ETC C (GOLD.AS). 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.
| GLDA.DE | GOLD.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.25 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 1.72 | +0.10 |
| Martin ratioReturn relative to average drawdown | 4.60 | 4.51 | +0.09 |
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
| GLDA.DE | GOLD.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 1.23 | +0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.21 | 1.17 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.10 | 1.12 | -0.02 |
Drawdowns
GLDA.DE vs. GOLD.AS - Drawdown Comparison
The maximum GLDA.DE drawdown since its inception was -18.34%, roughly equal to the maximum GOLD.AS drawdown of -18.25%. Use the drawdown chart below to compare losses from any high point for GLDA.DE and GOLD.AS.
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Drawdown Indicators
| GLDA.DE | GOLD.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.34% | -18.25% | -0.09% |
Max Drawdown (1Y)Largest decline over 1 year | -16.53% | -17.29% | +0.76% |
Max Drawdown (3Y)Largest decline over 3 years | -16.53% | -17.29% | +0.76% |
Max Drawdown (5Y)Largest decline over 5 years | -16.53% | -17.29% | +0.76% |
Current DrawdownCurrent decline from peak | -15.01% | -15.10% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -5.75% | -5.64% | -0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.54% | 6.63% | -0.09% |
Volatility
GLDA.DE vs. GOLD.AS - Volatility Comparison
The current volatility for Amundi Physical Gold ETC (C) (GLDA.DE) is 5.11%, while Amundi Physical Gold ETC C (GOLD.AS) has a volatility of 5.71%. This indicates that GLDA.DE experiences smaller price fluctuations and is considered to be less risky than GOLD.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDA.DE | GOLD.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 5.71% | -0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 20.17% | 21.43% | -1.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.11% | 24.26% | -1.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.05% | 16.62% | -0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.85% | 16.32% | -0.47% |
GLDA.DE vs. GOLD.AS - Expense Ratio Comparison
Both GLDA.DE and GOLD.AS have an expense ratio of 0.12%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
GLDA.DE vs. GOLD.AS - Dividend Comparison
Neither GLDA.DE nor GOLD.AS has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, GLDA.DE and GOLD.AS 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.
Both ETFs have the same 0.12% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
GLDA.DE and GOLD.AS have the same expense ratio: 0.12% per year.
GLDA.DE tracks Gold, while GOLD.AS tracks LMBA Gold Price PM USD.
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