IUSK.DE vs. ETL2.DE
IUSK.DE (iShares MSCI Europe SRI UCITS ETF (Acc)) and ETL2.DE (L&G Longer Dated All Commodities UCITS ETF) are both exchange-traded funds - IUSK.DE is a Europe Equities fund tracking the MSCI Europe SRI Select Reduced Fossil Fuels, while ETL2.DE is a Commodities fund tracking the Bloomberg Commodity 3 Month Forward. Both are passively managed. Over the past 10 years, IUSK.DE returned 7.86%/yr vs 8.17%/yr for ETL2.DE. At a 0.21 correlation, their price movements are largely independent. IUSK.DE charges 0.20%/yr vs 0.30%/yr for ETL2.DE.
Performance
IUSK.DE vs. ETL2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IUSK.DE achieves a 6.53% return, which is significantly lower than ETL2.DE's 18.23% return. Both investments have delivered pretty close results over the past 10 years, with IUSK.DE having a 7.86% annualized return and ETL2.DE not far ahead at 8.17%.
IUSK.DE
- 1D
- 0.74%
- 1M
- 3.57%
- YTD
- 6.53%
- 6M
- 8.39%
- 1Y
- 5.38%
- 3Y*
- 7.02%
- 5Y*
- 5.35%
- 10Y*
- 7.86%
ETL2.DE
- 1D
- -1.24%
- 1M
- -1.51%
- YTD
- 18.23%
- 6M
- 19.58%
- 1Y
- 28.45%
- 3Y*
- 10.87%
- 5Y*
- 13.12%
- 10Y*
- 8.17%
IUSK.DE vs. ETL2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IUSK.DE iShares MSCI Europe SRI UCITS ETF (Acc) | 6.53% | 3.95% | 5.36% | 16.45% | -15.18% | 26.73% | 4.02% | 30.88% | -7.69% | 11.41% |
ETL2.DE L&G Longer Dated All Commodities UCITS ETF | 18.23% | 4.89% | 11.54% | -9.44% | 24.86% | 46.17% | -7.55% | 10.85% | -4.21% | -9.85% |
Correlation
The correlation between IUSK.DE and ETL2.DE is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Jul 20, 2011 | 0.21 |
The correlation between IUSK.DE and ETL2.DE shifts across timeframes, from -0.15 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IUSK.DE vs. ETL2.DE — Risk / Return Rank
IUSK.DE
ETL2.DE
IUSK.DE vs. ETL2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe SRI UCITS ETF (Acc) (IUSK.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.
| IUSK.DE | ETL2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.48 | ||
| Sortino ratioReturn per unit of downside risk | -1.81 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.33 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.53 | 3.59 | -3.06 |
| Martin ratioReturn relative to average drawdown | 1.40 | 8.20 | -6.79 |
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
| IUSK.DE | ETL2.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.40 | 1.87 | -1.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | 0.84 | -0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.59 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.25 | +0.24 |
Drawdowns
IUSK.DE vs. ETL2.DE - Drawdown Comparison
The maximum IUSK.DE drawdown since its inception was -33.56%, smaller than the maximum ETL2.DE drawdown of -47.04%. Use the drawdown chart below to compare losses from any high point for IUSK.DE and ETL2.DE.
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Drawdown Indicators
| IUSK.DE | ETL2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.56% | -47.04% | +13.48% |
Max Drawdown (1Y)Largest decline over 1 year | -10.12% | -7.90% | -2.22% |
Max Drawdown (3Y)Largest decline over 3 years | -15.94% | -15.06% | -0.88% |
Max Drawdown (5Y)Largest decline over 5 years | -23.50% | -23.27% | -0.23% |
Max Drawdown (10Y)Largest decline over 10 years | -33.56% | -26.50% | -7.06% |
Current DrawdownCurrent decline from peak | -0.86% | -3.57% | +2.71% |
Average DrawdownAverage peak-to-trough decline | -5.91% | -21.90% | +15.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.83% | 3.46% | +0.37% |
Volatility
IUSK.DE vs. ETL2.DE - Volatility Comparison
The current volatility for iShares MSCI Europe SRI UCITS ETF (Acc) (IUSK.DE) is 4.24%, while L&G Longer Dated All Commodities UCITS ETF (ETL2.DE) has a volatility of 4.60%. This indicates that IUSK.DE experiences smaller price fluctuations and is considered to be less risky 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
| IUSK.DE | ETL2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.24% | 4.60% | -0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 11.01% | 12.74% | -1.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.58% | 15.15% | -1.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.62% | 15.44% | -0.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.50% | 13.69% | +1.81% |
IUSK.DE vs. ETL2.DE - Expense Ratio Comparison
IUSK.DE has a 0.20% expense ratio, which is lower than ETL2.DE's 0.30% expense ratio.
Dividends
IUSK.DE vs. ETL2.DE - Dividend Comparison
Neither IUSK.DE nor ETL2.DE has paid dividends to shareholders.
Frequently Asked Questions
IUSK.DE and ETL2.DE have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUSK.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUSK.DE is cheaper with a 0.20% expense ratio, compared with 0.30% for ETL2.DE.
IUSK.DE is categorized as Europe Equities, while ETL2.DE is Commodities. IUSK.DE tracks MSCI Europe SRI Select Reduced Fossil Fuels, while ETL2.DE tracks Bloomberg Commodity 3 Month Forward. They also come from different issuers: iShares and Legal & General. Their fees differ too: 0.20% for IUSK.DE and 0.30% for ETL2.DE.
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