IQQH.DE vs. ETL2.DE
IQQH.DE (iShares Global Clean Energy UCITS ETF USD (Dist)) and ETL2.DE (L&G Longer Dated All Commodities UCITS ETF) are both exchange-traded funds - IQQH.DE is a Energy Equities fund tracking the S&P Global Clean Energy, while ETL2.DE is a Commodities fund tracking the Bloomberg Commodity 3 Month Forward. Both are passively managed. Over the past 10 years, IQQH.DE returned 10.07%/yr vs 7.18%/yr for ETL2.DE. At a 0.26 correlation, their price movements are largely independent. IQQH.DE charges 0.65%/yr vs 0.30%/yr for ETL2.DE.
Performance
IQQH.DE vs. ETL2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IQQH.DE achieves a 23.10% return, which is significantly higher than ETL2.DE's 11.46% return. Over the past 10 years, IQQH.DE has outperformed ETL2.DE with an annualized return of 10.07%, while ETL2.DE has yielded a comparatively lower 7.18% annualized return.
IQQH.DE
- 1D
- -2.25%
- 1M
- -12.69%
- YTD
- 23.10%
- 6M
- 23.40%
- 1Y
- 56.06%
- 3Y*
- 3.16%
- 5Y*
- -1.23%
- 10Y*
- 10.07%
ETL2.DE
- 1D
- -0.23%
- 1M
- -5.26%
- YTD
- 11.46%
- 6M
- 13.39%
- 1Y
- 23.41%
- 3Y*
- 9.21%
- 5Y*
- 11.75%
- 10Y*
- 7.18%
IQQH.DE vs. ETL2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IQQH.DE iShares Global Clean Energy UCITS ETF USD (Dist) | 23.10% | 29.63% | -21.56% | -22.41% | 0.55% | -18.08% | 117.29% | 47.44% | -4.63% | 5.73% |
ETL2.DE L&G Longer Dated All Commodities UCITS ETF | 11.46% | 4.89% | 11.58% | -9.47% | 24.86% | 46.21% | -7.56% | 10.89% | -4.22% | -9.85% |
Correlation
The correlation between IQQH.DE and ETL2.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 | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2010 | 0.26 |
Over the past year, the correlation between IQQH.DE and ETL2.DE has dropped to 0.04 - well below their long-term average of 0.26, suggesting their price drivers have been diverging.
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Return for Risk
IQQH.DE vs. ETL2.DE — Risk / Return Rank
IQQH.DE
ETL2.DE
IQQH.DE vs. ETL2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Clean Energy UCITS ETF USD (Dist) (IQQH.DE) and L&G Longer Dated All Commodities UCITS ETF (ETL2.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.
| IQQH.DE | ETL2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.28 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 2.52 | +1.25 |
| Martin ratioReturn relative to average drawdown | 11.85 | 8.74 | +3.12 |
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Drawdowns
IQQH.DE vs. ETL2.DE - Drawdown Comparison
The maximum IQQH.DE drawdown since its inception was -87.02%, which is greater than ETL2.DE's maximum drawdown of -47.05%. Use the drawdown chart below to compare losses from any high point for IQQH.DE and ETL2.DE.
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Drawdown Indicators
| IQQH.DE | ETL2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.02% | -47.05% | -39.97% |
Max Drawdown (1Y)Largest decline over 1 year | -14.78% | -9.25% | -5.53% |
Max Drawdown (3Y)Largest decline over 3 years | -43.32% | -15.06% | -28.26% |
Max Drawdown (5Y)Largest decline over 5 years | -57.98% | -23.24% | -34.74% |
Max Drawdown (10Y)Largest decline over 10 years | -64.20% | -26.52% | -37.68% |
Current DrawdownCurrent decline from peak | -42.76% | -9.07% | -33.69% |
Average DrawdownAverage peak-to-trough decline | -63.52% | -22.24% | -41.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.72% | 2.67% | +2.05% |
Volatility
IQQH.DE vs. ETL2.DE - Volatility Comparison
iShares Global Clean Energy UCITS ETF USD (Dist) (IQQH.DE) has a higher volatility of 9.95% compared to L&G Longer Dated All Commodities UCITS ETF (ETL2.DE) at 3.26%. This indicates that IQQH.DE's price experiences larger fluctuations and is considered to be riskier than ETL2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IQQH.DE | ETL2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.95% | 3.26% | +6.69% |
Volatility (6M)Calculated over the trailing 6-month period | 20.24% | 12.89% | +7.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.05% | 14.78% | +11.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.02% | 15.45% | +9.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.15% | 13.68% | +11.47% |
IQQH.DE vs. ETL2.DE - Expense Ratio Comparison
IQQH.DE has a 0.65% expense ratio, which is higher than ETL2.DE's 0.30% expense ratio.
Dividends
IQQH.DE vs. ETL2.DE - Dividend Comparison
IQQH.DE's dividend yield for the trailing twelve months is around 0.91%, while ETL2.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETL2.DE L&G Longer Dated All Commodities UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IQQH.DE iShares Global Clean Energy UCITS ETF USD (Dist) | 0.91% | 1.33% | 1.24% | 0.80% | 0.53% | 0.73% | 0.49% | 1.56% | 2.87% | 2.88% | 2.81% | 2.60% |
Frequently Asked Questions
IQQH.DE and ETL2.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, ETL2.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETL2.DE is cheaper with a 0.30% expense ratio, compared with 0.65% for IQQH.DE.
IQQH.DE is categorized as Energy Equities, while ETL2.DE is Commodities. IQQH.DE tracks S&P Global Clean Energy, while ETL2.DE tracks Bloomberg Commodity 3 Month Forward. They also come from different issuers: iShares and Legal & General. Their fees differ too: 0.65% for IQQH.DE and 0.30% for ETL2.DE.
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