GLDA.DE vs. IS3M.DE
GLDA.DE (Amundi Physical Gold ETC (C)) and IS3M.DE (iShares € Ultrashort Bond UCITS ETF) are both exchange-traded funds - GLDA.DE is a Precious Metals fund tracking the Gold, while IS3M.DE is a Ultrashort Bond fund tracking the Markit iBoxx EUR Liquid Investment Grade Ultrashort Index (EUR). Both are passively managed. Over the past 5 years, GLDA.DE returned 19.71%/yr vs 2.10%/yr for IS3M.DE. At a 0.05 correlation, their price movements are largely independent. GLDA.DE charges 0.12%/yr vs 0.09%/yr for IS3M.DE.
Performance
GLDA.DE vs. IS3M.DE - Performance Comparison
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Returns By Period
In the year-to-date period, GLDA.DE achieves a 2.73% return, which is significantly higher than IS3M.DE's 0.92% 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*
- —
IS3M.DE
- 1D
- 0.04%
- 1M
- 0.34%
- YTD
- 0.92%
- 6M
- 1.01%
- 1Y
- 2.26%
- 3Y*
- 3.34%
- 5Y*
- 2.10%
- 10Y*
- 1.01%
GLDA.DE vs. IS3M.DE - 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% |
IS3M.DE iShares € Ultrashort Bond UCITS ETF | 0.92% | 2.61% | 4.12% | 3.42% | -0.29% | -0.36% | 0.09% | 0.02% |
Correlation
The correlation between GLDA.DE and IS3M.DE is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2019 | 0.05 |
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Return for Risk
GLDA.DE vs. IS3M.DE — Risk / Return Rank
GLDA.DE
IS3M.DE
GLDA.DE vs. IS3M.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Physical Gold ETC (C) (GLDA.DE) and iShares € Ultrashort Bond UCITS ETF (IS3M.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.
| GLDA.DE | IS3M.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.66 | ||
| Sortino ratioReturn per unit of downside risk | -2.93 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.64 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 7.59 | -5.77 |
| Martin ratioReturn relative to average drawdown | 4.60 | 49.96 | -45.36 |
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 | IS3M.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 2.95 | -1.66 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.21 | 2.74 | -1.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.91 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.10 | 0.86 | +0.24 |
Drawdowns
GLDA.DE vs. IS3M.DE - Drawdown Comparison
The maximum GLDA.DE drawdown since its inception was -18.34%, which is greater than IS3M.DE's maximum drawdown of -3.80%. Use the drawdown chart below to compare losses from any high point for GLDA.DE and IS3M.DE.
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Drawdown Indicators
| GLDA.DE | IS3M.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.34% | -3.80% | -14.54% |
Max Drawdown (1Y)Largest decline over 1 year | -16.53% | -0.30% | -16.23% |
Max Drawdown (3Y)Largest decline over 3 years | -16.53% | -0.47% | -16.06% |
Max Drawdown (5Y)Largest decline over 5 years | -16.53% | -1.21% | -15.32% |
Max Drawdown (10Y)Largest decline over 10 years | — | -3.80% | — |
Current DrawdownCurrent decline from peak | -15.01% | -0.01% | -15.00% |
Average DrawdownAverage peak-to-trough decline | -5.75% | -0.29% | -5.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.54% | 0.05% | +6.49% |
Volatility
GLDA.DE vs. IS3M.DE - Volatility Comparison
Amundi Physical Gold ETC (C) (GLDA.DE) has a higher volatility of 5.11% compared to iShares € Ultrashort Bond UCITS ETF (IS3M.DE) at 0.29%. This indicates that GLDA.DE's price experiences larger fluctuations and is considered to be riskier than IS3M.DE 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 | IS3M.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 0.29% | +4.82% |
Volatility (6M)Calculated over the trailing 6-month period | 20.17% | 0.59% | +19.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.11% | 0.76% | +22.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.05% | 0.76% | +15.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.85% | 1.11% | +14.74% |
GLDA.DE vs. IS3M.DE - Expense Ratio Comparison
GLDA.DE has a 0.12% expense ratio, which is higher than IS3M.DE's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GLDA.DE vs. IS3M.DE - Dividend Comparison
GLDA.DE has not paid dividends to shareholders, while IS3M.DE's dividend yield for the trailing twelve months is around 3.29%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLDA.DE Amundi Physical Gold ETC (C) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IS3M.DE iShares € Ultrashort Bond UCITS ETF | 3.29% | 2.74% | 3.80% | 2.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% | 0.13% |
Frequently Asked Questions
GLDA.DE and IS3M.DE have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IS3M.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IS3M.DE is cheaper with a 0.09% expense ratio, compared with 0.12% for GLDA.DE.
GLDA.DE is categorized as Precious Metals, while IS3M.DE is Ultrashort Bond. GLDA.DE tracks Gold, while IS3M.DE tracks Markit iBoxx EUR Liquid Investment Grade Ultrashort Index (EUR). They also come from different issuers: Amundi and iShares. Their fees differ too: 0.12% for GLDA.DE and 0.09% for IS3M.DE.
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