PPFB.DE vs. IBTU.L
PPFB.DE (iShares Physical Gold ETC) and IBTU.L (iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist)) are both exchange-traded funds - PPFB.DE is a Precious Metals fund tracking the Gold, while IBTU.L is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 3 years, PPFB.DE returned 28.05%/yr vs 1.96%/yr for IBTU.L. At a 0.08 correlation, their price movements are largely independent. PPFB.DE charges 0.12%/yr vs 0.07%/yr for IBTU.L.
Performance
PPFB.DE vs. IBTU.L - Performance Comparison
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Different Trading Currencies
PPFB.DE is traded in EUR, while IBTU.L is traded in USD. To make them comparable, the IBTU.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, PPFB.DE achieves a 2.74% return, which is significantly higher than IBTU.L's 2.55% return.
PPFB.DE
- 1D
- 0.61%
- 1M
- -3.62%
- YTD
- 2.74%
- 6M
- 6.18%
- 1Y
- 31.16%
- 3Y*
- 28.05%
- 5Y*
- —
- 10Y*
- —
IBTU.L
- 1D
- -0.12%
- 1M
- 1.45%
- YTD
- 2.55%
- 6M
- 2.02%
- 1Y
- 2.44%
- 3Y*
- 1.96%
- 5Y*
- 4.35%
- 10Y*
- —
PPFB.DE vs. IBTU.L - 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% | 3.62% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 2.55% | -8.02% | 12.18% | 1.81% | 7.35% | 3.82% |
Correlation
The correlation between PPFB.DE and IBTU.L is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jul 19, 2021 | 0.08 |
The correlation between PPFB.DE and IBTU.L shifts across timeframes, from -0.09 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PPFB.DE vs. IBTU.L — Risk / Return Rank
PPFB.DE
IBTU.L
PPFB.DE vs. IBTU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (PPFB.DE) and iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L). 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.
| PPFB.DE | IBTU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.94 | ||
| Sortino ratioReturn per unit of downside risk | +1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.07 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 0.59 | +1.22 |
| Martin ratioReturn relative to average drawdown | 4.60 | 1.35 | +3.25 |
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
| PPFB.DE | IBTU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 0.36 | +0.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.57 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.26 | 0.33 | +0.94 |
Drawdowns
PPFB.DE vs. IBTU.L - Drawdown Comparison
The maximum PPFB.DE drawdown since its inception was -16.60%, which is greater than IBTU.L's maximum drawdown of -13.27%. Use the drawdown chart below to compare losses from any high point for PPFB.DE and IBTU.L.
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Drawdown Indicators
| PPFB.DE | IBTU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.60% | -13.27% | -3.33% |
Max Drawdown (1Y)Largest decline over 1 year | -16.60% | -3.78% | -12.82% |
Max Drawdown (3Y)Largest decline over 3 years | -16.60% | -11.54% | -5.06% |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.78% | — |
Current DrawdownCurrent decline from peak | -15.00% | -6.76% | -8.24% |
Average DrawdownAverage peak-to-trough decline | -4.40% | -5.82% | +1.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.55% | 1.66% | +4.89% |
Volatility
PPFB.DE vs. IBTU.L - Volatility Comparison
iShares Physical Gold ETC (PPFB.DE) has a higher volatility of 5.11% compared to iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) at 1.25%. This indicates that PPFB.DE's price experiences larger fluctuations and is considered to be riskier than IBTU.L 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 | IBTU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 1.25% | +3.86% |
Volatility (6M)Calculated over the trailing 6-month period | 20.18% | 4.22% | +15.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.12% | 6.15% | +16.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.13% | 7.57% | +8.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.13% | 7.32% | +8.81% |
PPFB.DE vs. IBTU.L - Expense Ratio Comparison
PPFB.DE has a 0.12% expense ratio, which is higher than IBTU.L's 0.07% 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
PPFB.DE vs. IBTU.L - Dividend Comparison
PPFB.DE has not paid dividends to shareholders, while IBTU.L's dividend yield for the trailing twelve months is around 4.07%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.07% | 4.43% | 6.82% | 3.99% | 0.44% | 0.10% | 1.28% | 1.21% |
PPFB.DE iShares Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PPFB.DE and IBTU.L have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTU.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTU.L is cheaper with a 0.07% expense ratio, compared with 0.12% for PPFB.DE.
PPFB.DE is categorized as Precious Metals, while IBTU.L is Government Bonds. PPFB.DE tracks Gold, while IBTU.L tracks ICE U.S. Treasury Short Bond Index. Their fees differ too: 0.12% for PPFB.DE and 0.07% for IBTU.L.
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