PPFB.DE vs. ZGLD.SW
PPFB.DE (iShares Physical Gold ETC) and ZGLD.SW (Swisscanto (CH) Gold ETF EA CHF) are both Precious Metals funds - PPFB.DE tracks the Gold while ZGLD.SW tracks the Gold Bullion. Both are passively managed. Over the past 3 years, PPFB.DE returned 28.05%/yr vs 27.56%/yr for ZGLD.SW. Their correlation of 0.93 suggests significant overlap in exposure. PPFB.DE charges 0.12%/yr vs 0.40%/yr for ZGLD.SW.
Performance
PPFB.DE vs. ZGLD.SW - Performance Comparison
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Different Trading Currencies
PPFB.DE is traded in EUR, while ZGLD.SW is traded in CHF. To make them comparable, the ZGLD.SW 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 lower than ZGLD.SW's 3.53% return.
PPFB.DE
- 1D
- 0.61%
- 1M
- -3.62%
- YTD
- 2.74%
- 6M
- 6.18%
- 1Y
- 31.16%
- 3Y*
- 28.05%
- 5Y*
- —
- 10Y*
- —
ZGLD.SW
- 1D
- 0.63%
- 1M
- -1.64%
- YTD
- 3.53%
- 6M
- 6.14%
- 1Y
- 29.70%
- 3Y*
- 27.56%
- 5Y*
- 19.26%
- 10Y*
- 12.85%
PPFB.DE vs. ZGLD.SW - 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% |
ZGLD.SW Swisscanto (CH) Gold ETF EA CHF | 3.46% | 47.27% | 33.31% | 9.80% | 5.50% | 3.97% |
Correlation
The correlation between PPFB.DE and ZGLD.SW is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jul 19, 2021 | 0.93 |
The correlation between PPFB.DE and ZGLD.SW has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
PPFB.DE vs. ZGLD.SW — Risk / Return Rank
PPFB.DE
ZGLD.SW
PPFB.DE vs. ZGLD.SW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (PPFB.DE) and Swisscanto (CH) Gold ETF EA CHF (ZGLD.SW). 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 | ZGLD.SW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.25 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 1.77 | +0.04 |
| Martin ratioReturn relative to average drawdown | 4.60 | 4.45 | +0.15 |
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 | ZGLD.SW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 1.28 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.20 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.88 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.26 | 0.65 | +0.61 |
Drawdowns
PPFB.DE vs. ZGLD.SW - Drawdown Comparison
The maximum PPFB.DE drawdown since its inception was -16.60%, smaller than the maximum ZGLD.SW drawdown of -37.03%. Use the drawdown chart below to compare losses from any high point for PPFB.DE and ZGLD.SW.
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Drawdown Indicators
| PPFB.DE | ZGLD.SW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.60% | -37.03% | +20.43% |
Max Drawdown (1Y)Largest decline over 1 year | -16.60% | -17.07% | +0.47% |
Max Drawdown (3Y)Largest decline over 3 years | -16.60% | -17.07% | +0.47% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.07% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.85% | — |
Current DrawdownCurrent decline from peak | -15.00% | -15.73% | +0.73% |
Average DrawdownAverage peak-to-trough decline | -4.40% | -12.17% | +7.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.55% | 6.75% | -0.20% |
Volatility
PPFB.DE vs. ZGLD.SW - Volatility Comparison
The current volatility for iShares Physical Gold ETC (PPFB.DE) is 5.11%, while Swisscanto (CH) Gold ETF EA CHF (ZGLD.SW) has a volatility of 5.83%. This indicates that PPFB.DE experiences smaller price fluctuations and is considered to be less risky than ZGLD.SW 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 | ZGLD.SW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 5.83% | -0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 20.18% | 20.54% | -0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.12% | 23.61% | -0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.13% | 16.11% | +0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.13% | 14.66% | +1.47% |
PPFB.DE vs. ZGLD.SW - Expense Ratio Comparison
PPFB.DE has a 0.12% expense ratio, which is lower than ZGLD.SW's 0.40% expense ratio.
Dividends
PPFB.DE vs. ZGLD.SW - Dividend Comparison
Neither PPFB.DE nor ZGLD.SW has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, PPFB.DE and ZGLD.SW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 0.40% for ZGLD.SW.
PPFB.DE tracks Gold, while ZGLD.SW tracks Gold Bullion. They also come from different issuers: iShares and Swisscanto. Their fees differ too: 0.12% for PPFB.DE and 0.40% for ZGLD.SW.
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