PPFB.DE vs. MWEQ.L
PPFB.DE (iShares Physical Gold ETC) and MWEQ.L (Invesco MSCI World Equal Weight UCITS ETF Acc) are both exchange-traded funds - PPFB.DE is a Gold fund tracking the Gold, while MWEQ.L is a Global Equities fund tracking the MSCI World Equal Weighted Net Total Return USD Index. Both are passively managed. Over the past year, PPFB.DE returned 21.73% vs 18.73% for MWEQ.L. At a 0.22 correlation, their price movements are largely independent. PPFB.DE charges 0.12%/yr vs 0.20%/yr for MWEQ.L.
Performance
PPFB.DE vs. MWEQ.L - Performance Comparison
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Different Trading Currencies
PPFB.DE is traded in EUR, while MWEQ.L is traded in USD. To make them comparable, the MWEQ.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 -6.40% return, which is significantly lower than MWEQ.L's 11.90% return.
PPFB.DE
- 1D
- 0.00%
- 1M
- -3.15%
- 6M
- -12.64%
- YTD
- -6.40%
- 1Y
- 21.73%
- 3Y*
- 25.59%
- 5Y*
- 17.91%
- 10Y*
- —
- ALL TIME*
- 17.63%
MWEQ.L
- 1D
- 0.00%
- 1M
- 1.53%
- 6M
- 8.71%
- YTD
- 11.90%
- 1Y
- 18.73%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.49%
PPFB.DE vs. MWEQ.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PPFB.DE iShares Physical Gold ETC | -6.40% | 49.11% | 11.48% |
MWEQ.L Invesco MSCI World Equal Weight UCITS ETF Acc | 11.90% | 7.49% | 7.12% |
Correlation
The correlation between PPFB.DE and MWEQ.L is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2024 | 0.22 |
The correlation between PPFB.DE and MWEQ.L shifts across timeframes, from 0.22 (all time) to 0.36 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PPFB.DE vs. MWEQ.L — Risk / Return Rank
PPFB.DE
MWEQ.L
PPFB.DE vs. MWEQ.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (PPFB.DE) and Invesco MSCI World Equal Weight UCITS ETF Acc (MWEQ.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.
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 | MWEQ.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.28 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | 3.01 | -2.05 |
| Martin ratioReturn relative to average drawdown | 2.25 | 11.21 | -8.96 |
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Drawdowns
PPFB.DE vs. MWEQ.L - Drawdown Comparison
The maximum PPFB.DE drawdown since its inception was -22.56%, which is greater than MWEQ.L's maximum drawdown of -16.80%. Use the drawdown chart below to compare losses from any high point for PPFB.DE and MWEQ.L.
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Drawdown Indicators
| PPFB.DE | MWEQ.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.56% | -16.80% | -5.76% |
Max Drawdown (1Y)Largest decline over 1 year | -22.56% | -6.22% | -16.34% |
Max Drawdown (3Y)Largest decline over 3 years | -22.56% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -22.56% | — | — |
Current DrawdownCurrent decline from peak | -22.56% | -0.82% | -21.74% |
Average DrawdownAverage peak-to-trough decline | -4.81% | -2.32% | -2.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.68% | 1.67% | +8.01% |
Volatility
PPFB.DE vs. MWEQ.L - Volatility Comparison
iShares Physical Gold ETC (PPFB.DE) has a higher volatility of 6.06% compared to Invesco MSCI World Equal Weight UCITS ETF Acc (MWEQ.L) at 2.91%. This indicates that PPFB.DE's price experiences larger fluctuations and is considered to be riskier than MWEQ.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 | MWEQ.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.06% | 2.91% | +3.15% |
Volatility (6M)Calculated over the trailing 6-month period | 21.14% | 9.55% | +11.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.66% | 12.09% | +12.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.46% | 13.92% | +2.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.45% | 13.92% | +2.53% |
PPFB.DE vs. MWEQ.L - Expense Ratio Comparison
PPFB.DE has a 0.12% expense ratio, which is lower than MWEQ.L's 0.20% 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. MWEQ.L - Dividend Comparison
Neither PPFB.DE nor MWEQ.L has paid dividends to shareholders.
Frequently Asked Questions
PPFB.DE and MWEQ.L have a correlation of 0.36, 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 0.20% for MWEQ.L.
PPFB.DE is categorized as Gold, while MWEQ.L is Global Equities. PPFB.DE tracks Gold, while MWEQ.L tracks MSCI World Equal Weighted Net Total Return USD Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.12% for PPFB.DE and 0.20% for MWEQ.L.
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