LGGE.DE vs. ETLF.DE

Last updated Jun 5, 2026

LGGE.DE (L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF) and ETLF.DE (L&G All Commodities UCITS ETF) are both exchange-traded funds - LGGE.DE is a Europe Equities fund tracking the FTSE Developed Europe ex UK All Cap ex CW ex TC ex REITS Dividend Growth with Quality, while ETLF.DE is a Commodities fund tracking the Bloomberg Commodity. Both are passively managed. Over the past 3 years, LGGE.DE returned 24.04%/yr vs 12.51%/yr for ETLF.DE. At a 0.06 correlation, their price movements are largely independent. LGGE.DE charges 0.25%/yr vs 0.15%/yr for ETLF.DE.

Performance

LGGE.DE vs. ETLF.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LGGE.DE) and L&G All Commodities UCITS ETF (ETLF.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LGGE.DE achieves a 11.27% return, which is significantly lower than ETLF.DE's 23.78% return.

LGGE.DE

• 1D: 0.15%
• 1M: -0.22%
• YTD: 11.27%
• 6M: 15.32%
• 1Y: 26.49%
• 3Y*: 24.04%
• 5Y*: —
• 10Y*: —

ETLF.DE

• 1D: -1.48%
• 1M: -2.99%
• YTD: 23.78%
• 6M: 24.44%
• 1Y: 35.03%
• 3Y*: 12.51%
• 5Y*: 12.26%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

LGGE.DE vs. ETLF.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
LGGE.DE L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF	11.27%	38.29%	14.07%	17.18%	-3.86%	7.23%
ETLF.DE L&G All Commodities UCITS ETF	23.78%	4.67%	10.97%	-10.24%	21.51%	10.26%

Correlation

The correlation between LGGE.DE and ETLF.DE is -0.18, 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	-0.18
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Jul 16, 2021	0.06

The correlation between LGGE.DE and ETLF.DE shifts across timeframes, from -0.18 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LGGE.DE vs. ETLF.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LGGE.DE

LGGE.DE Risk / Return Rank: 69
LGGE.DE Sharpe Ratio Rank: 67
LGGE.DE Sortino Ratio Rank: 65
LGGE.DE Omega Ratio Rank: 67
LGGE.DE Calmar Ratio Rank: 73
LGGE.DE Martin Ratio Rank: 71

ETLF.DE

ETLF.DE Risk / Return Rank: 58
ETLF.DE Sharpe Ratio Rank: 55
ETLF.DE Sortino Ratio Rank: 48
ETLF.DE Omega Ratio Rank: 56
ETLF.DE Calmar Ratio Rank: 79
ETLF.DE Martin Ratio Rank: 52

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LGGE.DE vs. ETLF.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LGGE.DE) and L&G All Commodities UCITS ETF (ETLF.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.

	LGGE.DE	ETLF.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.19	1.86	+0.33
Sortino ratio: Return per unit of downside risk	2.95	2.36	+0.58
Omega ratio: Gain probability vs. loss probability	1.40	1.34	+0.06
Calmar ratio: Return relative to maximum drawdown	3.61	3.96	-0.36
Martin ratio: Return relative to average drawdown	13.07	8.79	+4.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LGGE.DE vs. ETLF.DE - Sharpe Ratio Comparison

The current LGGE.DE Sharpe Ratio is 2.19, which is comparable to the ETLF.DE Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of LGGE.DE and ETLF.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	LGGE.DE	ETLF.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	1.86	+0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.71	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.13	0.53	+0.60

Drawdowns

LGGE.DE vs. ETLF.DE - Drawdown Comparison

The maximum LGGE.DE drawdown since its inception was -20.11%, smaller than the maximum ETLF.DE drawdown of -28.78%. Use the drawdown chart below to compare losses from any high point for LGGE.DE and ETLF.DE.

Drawdown Indicators

	LGGE.DE	ETLF.DE	Difference
Max Drawdown Largest peak-to-trough decline	-20.11%	-28.78%	+8.67%
Max Drawdown (1Y) Largest decline over 1 year	-7.28%	-8.80%	+1.52%
Max Drawdown (3Y) Largest decline over 3 years	-14.71%	-15.96%	+1.25%
Max Drawdown (5Y) Largest decline over 5 years	—	-27.00%	—
Current Drawdown Current decline from peak	-2.09%	-4.91%	+2.82%
Average Drawdown Average peak-to-trough decline	-3.23%	-12.13%	+8.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	3.97%	-1.96%

Volatility

LGGE.DE vs. ETLF.DE - Volatility Comparison

The current volatility for L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LGGE.DE) is 3.60%, while L&G All Commodities UCITS ETF (ETLF.DE) has a volatility of 5.93%. This indicates that LGGE.DE experiences smaller price fluctuations and is considered to be less risky than ETLF.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LGGE.DE	ETLF.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	5.93%	-2.33%
Volatility (6M) Calculated over the trailing 6-month period	9.47%	16.60%	-7.13%
Volatility (1Y) Calculated over the trailing 1-year period	11.99%	18.79%	-6.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.60%	17.09%	-2.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.60%	15.59%	-0.99%

LGGE.DE vs. ETLF.DE - Expense Ratio Comparison

LGGE.DE has a 0.25% expense ratio, which is higher than ETLF.DE's 0.15% 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

LGGE.DE vs. ETLF.DE - Dividend Comparison

LGGE.DE's dividend yield for the trailing twelve months is around 3.13%, while ETLF.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
ETLF.DE L&G All Commodities UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LGGE.DE L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF	3.13%	3.47%	4.37%	4.43%	4.18%	1.52%

Frequently Asked Questions

Can I hold both LGGE.DE and ETLF.DE in my portfolio?

LGGE.DE and ETLF.DE have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LGGE.DE or ETLF.DE?

On fees, ETLF.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LGGE.DE or ETLF.DE?

ETLF.DE is cheaper with a 0.15% expense ratio, compared with 0.25% for LGGE.DE.

What is the main difference between LGGE.DE and ETLF.DE?

LGGE.DE is categorized as Europe Equities, while ETLF.DE is Commodities. LGGE.DE tracks FTSE Developed Europe ex UK All Cap ex CW ex TC ex REITS Dividend Growth with Quality, while ETLF.DE tracks Bloomberg Commodity. Their fees differ too: 0.25% for LGGE.DE and 0.15% for ETLF.DE.