PPFB.DE vs. TLT
PPFB.DE (iShares Physical Gold ETC) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - PPFB.DE is a Precious Metals fund tracking the Gold, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 3 years, PPFB.DE returned 28.05%/yr vs -4.43%/yr for TLT. At a 0.14 correlation, their price movements are largely independent. PPFB.DE charges 0.12%/yr vs 0.15%/yr for TLT.
Performance
PPFB.DE vs. TLT - Performance Comparison
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Different Trading Currencies
PPFB.DE is traded in EUR, while TLT is traded in USD. To make them comparable, the TLT 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 TLT's 1.39% return.
PPFB.DE
- 1D
- 0.61%
- 1M
- -3.62%
- YTD
- 2.74%
- 6M
- 6.18%
- 1Y
- 31.16%
- 3Y*
- 28.05%
- 5Y*
- —
- 10Y*
- —
TLT
- 1D
- 0.28%
- 1M
- 1.16%
- YTD
- 1.39%
- 6M
- -0.29%
- 1Y
- 2.20%
- 3Y*
- -4.43%
- 5Y*
- -5.34%
- 10Y*
- -1.77%
PPFB.DE vs. TLT - 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% |
TLT iShares 20+ Year Treasury Bond ETF | 1.39% | -8.12% | -1.98% | -0.31% | -26.97% | 4.60% |
Correlation
The correlation between PPFB.DE and TLT is -0.01, 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 | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jul 19, 2021 | 0.14 |
The correlation between PPFB.DE and TLT shifts across timeframes, from -0.01 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PPFB.DE vs. TLT — Risk / Return Rank
PPFB.DE
TLT
PPFB.DE vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (PPFB.DE) and iShares 20+ Year Treasury Bond ETF (TLT). 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 | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.07 | ||
| Sortino ratioReturn per unit of downside risk | +1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.05 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 0.30 | +1.51 |
| Martin ratioReturn relative to average drawdown | 4.60 | 0.64 | +3.96 |
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 | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 0.23 | +1.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.33 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.26 | 0.22 | +1.05 |
Drawdowns
PPFB.DE vs. TLT - Drawdown Comparison
The maximum PPFB.DE drawdown since its inception was -16.60%, smaller than the maximum TLT drawdown of -46.77%. Use the drawdown chart below to compare losses from any high point for PPFB.DE and TLT.
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Drawdown Indicators
| PPFB.DE | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.60% | -46.77% | +30.17% |
Max Drawdown (1Y)Largest decline over 1 year | -16.60% | -7.42% | -9.18% |
Max Drawdown (3Y)Largest decline over 3 years | -16.60% | -17.13% | +0.53% |
Max Drawdown (5Y)Largest decline over 5 years | — | -39.79% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.77% | — |
Current DrawdownCurrent decline from peak | -15.00% | -43.78% | +28.78% |
Average DrawdownAverage peak-to-trough decline | -4.40% | -18.50% | +14.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.55% | 3.47% | +3.08% |
Volatility
PPFB.DE vs. TLT - Volatility Comparison
iShares Physical Gold ETC (PPFB.DE) has a higher volatility of 5.11% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.08%. This indicates that PPFB.DE's price experiences larger fluctuations and is considered to be riskier than TLT 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 | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 2.08% | +3.03% |
Volatility (6M)Calculated over the trailing 6-month period | 20.18% | 7.02% | +13.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.12% | 9.71% | +13.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.13% | 16.22% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.13% | 15.64% | +0.49% |
PPFB.DE vs. TLT - Expense Ratio Comparison
PPFB.DE has a 0.12% expense ratio, which is lower than TLT's 0.15% 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. TLT - Dividend Comparison
PPFB.DE has not paid dividends to shareholders, while TLT's dividend yield for the trailing twelve months is around 4.60%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TLT iShares 20+ Year Treasury Bond ETF | 4.60% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Frequently Asked Questions
PPFB.DE and TLT have a correlation of -0.01, 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 0.15% for TLT.
PPFB.DE is categorized as Precious Metals, while TLT is Government Bonds. PPFB.DE tracks Gold, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.12% for PPFB.DE and 0.15% for TLT.
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