PPFB.DE vs. EXHB.DE
PPFB.DE (iShares Physical Gold ETC) and EXHB.DE (iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE)) are both exchange-traded funds - PPFB.DE is a Precious Metals fund tracking the Gold, while EXHB.DE is a European Government Bonds fund tracking the eb.rexx® Government Germany 1.5-2.5. Both are passively managed. Over the past 3 years, PPFB.DE returned 28.05%/yr vs 2.22%/yr for EXHB.DE. At a 0.28 correlation, their price movements are largely independent. PPFB.DE charges 0.12%/yr vs 0.16%/yr for EXHB.DE.
Performance
PPFB.DE vs. EXHB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, PPFB.DE achieves a 2.74% return, which is significantly higher than EXHB.DE's 0.18% return.
PPFB.DE
- 1D
- 0.61%
- 1M
- -4.00%
- YTD
- 2.74%
- 6M
- 5.47%
- 1Y
- 31.35%
- 3Y*
- 28.05%
- 5Y*
- —
- 10Y*
- —
EXHB.DE
- 1D
- 0.11%
- 1M
- 0.37%
- YTD
- 0.18%
- 6M
- 0.33%
- 1Y
- 0.56%
- 3Y*
- 2.22%
- 5Y*
- 0.24%
- 10Y*
- -0.25%
PPFB.DE vs. EXHB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PPFB.DE iShares Physical Gold ETC | 2.74% | 49.11% | 34.17% | 9.42% | 7.03% | 2.86% |
EXHB.DE iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) | 0.18% | 1.66% | 2.55% | 2.59% | -5.04% | -0.41% |
Correlation
The correlation between PPFB.DE and EXHB.DE is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2021 | 0.28 |
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Return for Risk
PPFB.DE vs. EXHB.DE — Risk / Return Rank
PPFB.DE
EXHB.DE
PPFB.DE vs. EXHB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (PPFB.DE) and iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) (EXHB.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 | EXHB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.85 | ||
| Sortino ratioReturn per unit of downside risk | +1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.09 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 0.48 | +1.34 |
| Martin ratioReturn relative to average drawdown | 4.60 | 1.36 | +3.24 |
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Drawdowns
PPFB.DE vs. EXHB.DE - Drawdown Comparison
The maximum PPFB.DE drawdown since its inception was -16.60%, which is greater than EXHB.DE's maximum drawdown of -9.97%. Use the drawdown chart below to compare losses from any high point for PPFB.DE and EXHB.DE.
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Drawdown Indicators
| PPFB.DE | EXHB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.60% | -9.97% | -6.63% |
Max Drawdown (1Y)Largest decline over 1 year | -16.60% | -1.18% | -15.42% |
Max Drawdown (3Y)Largest decline over 3 years | -16.60% | -1.18% | -15.42% |
Max Drawdown (5Y)Largest decline over 5 years | — | -6.45% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -9.97% | — |
Current DrawdownCurrent decline from peak | -15.00% | -2.65% | -12.35% |
Average DrawdownAverage peak-to-trough decline | -4.42% | -2.11% | -2.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.55% | 0.41% | +6.14% |
Volatility
PPFB.DE vs. EXHB.DE - Volatility Comparison
iShares Physical Gold ETC (PPFB.DE) has a higher volatility of 5.11% compared to iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) (EXHB.DE) at 0.48%. This indicates that PPFB.DE's price experiences larger fluctuations and is considered to be riskier than EXHB.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 | EXHB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 0.48% | +4.63% |
Volatility (6M)Calculated over the trailing 6-month period | 20.18% | 1.12% | +19.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.12% | 1.25% | +21.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.13% | 1.72% | +14.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.13% | 1.44% | +14.69% |
PPFB.DE vs. EXHB.DE - Expense Ratio Comparison
PPFB.DE has a 0.12% expense ratio, which is lower than EXHB.DE's 0.16% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
PPFB.DE vs. EXHB.DE - Dividend Comparison
PPFB.DE has not paid dividends to shareholders, while EXHB.DE's dividend yield for the trailing twelve months is around 1.39%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXHB.DE iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) | 1.39% | 0.96% | 0.72% | 0.60% | 1.05% | 0.97% | 0.80% | 1.06% | 0.97% | 1.50% | 1.42% | 1.49% |
PPFB.DE iShares Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PPFB.DE and EXHB.DE have a correlation of 0.19, 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 0.16% for EXHB.DE.
PPFB.DE is categorized as Precious Metals, while EXHB.DE is European Government Bonds. PPFB.DE tracks Gold, while EXHB.DE tracks eb.rexx® Government Germany 1.5-2.5. Their fees differ too: 0.12% for PPFB.DE and 0.16% for EXHB.DE.
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