IUSE.L vs. ETLX.DE
IUSE.L (iShares S&P 500 EUR Hedged UCITS ETF Acc) and ETLX.DE (L&G Gold Mining UCITS ETF) are both exchange-traded funds - IUSE.L is a S&P 500 fund tracking the S&P 500 EUR Hedged Index, while ETLX.DE is a Gold fund tracking the DAXglobal® Gold Miners. Both are passively managed. Over the past 10 years, IUSE.L returned 12.04%/yr vs 11.24%/yr for ETLX.DE. At a 0.17 correlation, their price movements are largely independent. IUSE.L charges 0.20%/yr vs 0.65%/yr for ETLX.DE.
Performance
IUSE.L vs. ETLX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IUSE.L achieves a 7.54% return, which is significantly higher than ETLX.DE's -17.69% return. Over the past 10 years, IUSE.L has outperformed ETLX.DE with an annualized return of 12.04%, while ETLX.DE has yielded a comparatively lower 11.24% annualized return.
IUSE.L
- 1D
- -1.30%
- 1M
- -0.21%
- 6M
- 6.68%
- YTD
- 7.54%
- 1Y
- 17.02%
- 3Y*
- 16.87%
- 5Y*
- 10.14%
- 10Y*
- 12.04%
ETLX.DE
- 1D
- -1.41%
- 1M
- -14.44%
- 6M
- -25.07%
- YTD
- -17.69%
- 1Y
- 45.65%
- 3Y*
- 37.92%
- 5Y*
- 22.00%
- 10Y*
- 11.24%
IUSE.L vs. ETLX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IUSE.L iShares S&P 500 EUR Hedged UCITS ETF Acc | 7.54% | 14.95% | 23.21% | 23.05% | -21.17% | 27.85% | 14.81% | 26.33% | -8.40% | 19.04% |
ETLX.DE L&G Gold Mining UCITS ETF | -17.69% | 152.51% | 27.45% | 11.01% | -7.07% | -3.33% | 12.25% | 42.55% | -5.79% | -3.18% |
Correlation
The correlation between IUSE.L and ETLX.DE is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2010 | 0.17 |
Over the past year, IUSE.L and ETLX.DE have become more correlated (0.43) than their long-term average of 0.17, meaning their price movements have been converging.
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Return for Risk
IUSE.L vs. ETLX.DE — Risk / Return Rank
IUSE.L
ETLX.DE
IUSE.L vs. ETLX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) and L&G Gold Mining UCITS ETF (ETLX.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.
| IUSE.L | ETLX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.18 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 1.25 | +0.72 |
| Martin ratioReturn relative to average drawdown | 7.93 | 2.92 | +5.01 |
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Drawdowns
IUSE.L vs. ETLX.DE - Drawdown Comparison
The maximum IUSE.L drawdown since its inception was -34.75%, smaller than the maximum ETLX.DE drawdown of -73.44%. Use the drawdown chart below to compare losses from any high point for IUSE.L and ETLX.DE.
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Drawdown Indicators
| IUSE.L | ETLX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.75% | -73.44% | +38.69% |
Max Drawdown (1Y)Largest decline over 1 year | -8.67% | -36.57% | +27.90% |
Max Drawdown (3Y)Largest decline over 3 years | -18.33% | -36.57% | +18.24% |
Max Drawdown (5Y)Largest decline over 5 years | -26.23% | -42.01% | +15.78% |
Max Drawdown (10Y)Largest decline over 10 years | -34.75% | -47.06% | +12.31% |
Current DrawdownCurrent decline from peak | -1.97% | -36.57% | +34.60% |
Average DrawdownAverage peak-to-trough decline | -4.25% | -34.38% | +30.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 15.71% | -13.55% |
Volatility
IUSE.L vs. ETLX.DE - Volatility Comparison
The current volatility for iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) is 3.05%, while L&G Gold Mining UCITS ETF (ETLX.DE) has a volatility of 13.74%. This indicates that IUSE.L experiences smaller price fluctuations and is considered to be less risky than ETLX.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IUSE.L | ETLX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.05% | 13.74% | -10.69% |
Volatility (6M)Calculated over the trailing 6-month period | 9.34% | 37.76% | -28.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.08% | 48.26% | -36.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.07% | 36.80% | -20.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.29% | 34.09% | -17.80% |
IUSE.L vs. ETLX.DE - Expense Ratio Comparison
IUSE.L has a 0.20% expense ratio, which is lower than ETLX.DE's 0.65% expense ratio.
Dividends
IUSE.L vs. ETLX.DE - Dividend Comparison
Neither IUSE.L nor ETLX.DE has paid dividends to shareholders.
Frequently Asked Questions
IUSE.L and ETLX.DE have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUSE.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUSE.L is cheaper with a 0.20% expense ratio, compared with 0.65% for ETLX.DE.
IUSE.L is categorized as S&P 500, while ETLX.DE is Gold. IUSE.L tracks S&P 500 EUR Hedged Index, while ETLX.DE tracks DAXglobal® Gold Miners. They also come from different issuers: iShares and Legal & General. Their fees differ too: 0.20% for IUSE.L and 0.65% for ETLX.DE.
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