PPFB.DE vs. ETLX.DE
PPFB.DE (iShares Physical Gold ETC) and ETLX.DE (L&G Gold Mining UCITS ETF) are both Gold funds - PPFB.DE tracks the Gold while ETLX.DE tracks the DAXglobal® Gold Miners. Both are passively managed. Over the past 5 years, PPFB.DE returned 17.85%/yr vs 22.00%/yr for ETLX.DE. A 0.72 correlation means they provide meaningful diversification when combined. PPFB.DE charges 0.12%/yr vs 0.65%/yr for ETLX.DE.
Performance
PPFB.DE vs. ETLX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, PPFB.DE achieves a -6.38% return, which is significantly higher than ETLX.DE's -17.69% return.
PPFB.DE
- 1D
- 0.00%
- 1M
- -4.91%
- 6M
- -11.49%
- YTD
- -6.38%
- 1Y
- 21.76%
- 3Y*
- 25.59%
- 5Y*
- 17.85%
- 10Y*
- —
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%
PPFB.DE vs. ETLX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PPFB.DE iShares Physical Gold ETC | -6.38% | 49.11% | 34.17% | 9.42% | 7.03% | 2.86% |
ETLX.DE L&G Gold Mining UCITS ETF | -17.69% | 152.51% | 27.45% | 11.01% | -7.07% | -3.23% |
Correlation
The correlation between PPFB.DE and ETLX.DE is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2021 | 0.72 |
The correlation between PPFB.DE and ETLX.DE has been stable across timeframes, ranging from 0.72 to 0.81 - a consistent structural relationship.
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Return for Risk
PPFB.DE vs. ETLX.DE — Risk / Return Rank
PPFB.DE
ETLX.DE
PPFB.DE vs. ETLX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (PPFB.DE) 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.
| PPFB.DE | ETLX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.18 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | 1.25 | -0.28 |
| Martin ratioReturn relative to average drawdown | 2.28 | 2.92 | -0.65 |
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Drawdowns
PPFB.DE vs. ETLX.DE - Drawdown Comparison
The maximum PPFB.DE drawdown since its inception was -22.54%, smaller than the maximum ETLX.DE drawdown of -73.44%. Use the drawdown chart below to compare losses from any high point for PPFB.DE and ETLX.DE.
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Drawdown Indicators
| PPFB.DE | ETLX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.54% | -73.44% | +50.90% |
Max Drawdown (1Y)Largest decline over 1 year | -22.54% | -36.57% | +14.03% |
Max Drawdown (3Y)Largest decline over 3 years | -22.54% | -36.57% | +14.03% |
Max Drawdown (5Y)Largest decline over 5 years | -22.54% | -42.01% | +19.47% |
Max Drawdown (10Y)Largest decline over 10 years | — | -47.06% | — |
Current DrawdownCurrent decline from peak | -22.54% | -36.57% | +14.03% |
Average DrawdownAverage peak-to-trough decline | -4.80% | -34.38% | +29.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.58% | 15.71% | -6.13% |
Volatility
PPFB.DE vs. ETLX.DE - Volatility Comparison
The current volatility for iShares Physical Gold ETC (PPFB.DE) is 6.29%, while L&G Gold Mining UCITS ETF (ETLX.DE) has a volatility of 13.74%. This indicates that PPFB.DE 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
| PPFB.DE | ETLX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.29% | 13.74% | -7.45% |
Volatility (6M)Calculated over the trailing 6-month period | 21.19% | 37.76% | -16.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.61% | 48.26% | -23.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.46% | 36.80% | -20.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.45% | 34.09% | -17.64% |
PPFB.DE vs. ETLX.DE - Expense Ratio Comparison
PPFB.DE has a 0.12% expense ratio, which is lower than ETLX.DE's 0.65% expense ratio.
Dividends
PPFB.DE vs. ETLX.DE - Dividend Comparison
Neither PPFB.DE nor ETLX.DE has paid dividends to shareholders.
Frequently Asked Questions
PPFB.DE and ETLX.DE have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PPFB.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PPFB.DE is cheaper with a 0.12% expense ratio, compared with 0.65% for ETLX.DE.
PPFB.DE tracks Gold, while ETLX.DE tracks DAXglobal® Gold Miners. They also come from different issuers: iShares and Legal & General. Their fees differ too: 0.12% for PPFB.DE and 0.65% for ETLX.DE.
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