SNPE vs. DGZ

Last updated Jun 24, 2026

SNPE (Xtrackers S&P 500 ESG ETF) and DGZ (DB Gold Short Exchange Traded Notes) are both exchange-traded funds - SNPE is a S&P 500 fund tracking the S&P 500 ESG Index, while DGZ is a Inverse Commodities fund tracking the Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return (-100%). Both are passively managed. Over the past 5 years, SNPE returned 13.94%/yr vs -9.28%/yr for DGZ. At a correlation of -0.06, they often move in opposite directions. SNPE charges 0.10%/yr vs 0.75%/yr for DGZ.

Performance

SNPE vs. DGZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers S&P 500 ESG ETF (SNPE) and DB Gold Short Exchange Traded Notes (DGZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SNPE achieves a 8.65% return, which is significantly lower than DGZ's 13.79% return.

SNPE

• 1D: -1.60%
• 1M: -0.30%
• YTD: 8.65%
• 6M: 7.98%
• 1Y: 27.55%
• 3Y*: 20.76%
• 5Y*: 13.94%
• 10Y*: —

DGZ

• 1D: 4.60%
• 1M: 27.91%
• YTD: 13.79%
• 6M: 21.33%
• 1Y: -7.69%
• 3Y*: -14.24%
• 5Y*: -9.28%
• 10Y*: -7.12%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SNPE vs. DGZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SNPE Xtrackers S&P 500 ESG ETF	8.65%	18.56%	23.85%	27.79%	-17.67%	31.43%	19.84%	12.34%
DGZ DB Gold Short Exchange Traded Notes	13.79%	-32.55%	-16.46%	-4.75%	4.93%	1.53%	-20.80%	-5.50%

Correlation

The correlation between SNPE and DGZ is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.12
Correlation (3Y) Calculated over the trailing 3-year period	-0.08
Correlation (5Y) Calculated over the trailing 5-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Jun 26, 2019	-0.06

Return for Risk

SNPE vs. DGZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SNPE

SNPE Risk / Return Rank: 70
SNPE Sharpe Ratio Rank: 72
SNPE Sortino Ratio Rank: 70
SNPE Omega Ratio Rank: 70
SNPE Calmar Ratio Rank: 62
SNPE Martin Ratio Rank: 74

DGZ

DGZ Risk / Return Rank: 9
DGZ Sharpe Ratio Rank: 8
DGZ Sortino Ratio Rank: 10
DGZ Omega Ratio Rank: 11
DGZ Calmar Ratio Rank: 7
DGZ Martin Ratio Rank: 7

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SNPE vs. DGZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers S&P 500 ESG ETF (SNPE) and DB Gold Short Exchange Traded Notes (DGZ). 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.

	SNPE	DGZ	Difference
Sharpe ratio: Return per unit of total volatility	2.18	-0.11	+2.29
Sortino ratio: Return per unit of downside risk	3.01	0.36	+2.65
Omega ratio: Gain probability vs. loss probability	1.39	1.05	+0.34
Calmar ratio: Return relative to maximum drawdown	2.92	-0.20	+3.13
Martin ratio: Return relative to average drawdown	13.28	-0.35	+13.63

SNPE vs. DGZ - Sharpe Ratio Comparison

The current SNPE Sharpe Ratio is 2.18, which is higher than the DGZ Sharpe Ratio of -0.11. The chart below compares the historical Sharpe Ratios of SNPE and DGZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SNPE vs. DGZ - Drawdown Comparison

The maximum SNPE drawdown since its inception was -33.37%, smaller than the maximum DGZ drawdown of -86.32%. Use the drawdown chart below to compare losses from any high point for SNPE and DGZ.

Drawdown Indicators

	SNPE	DGZ	Difference
Max Drawdown Largest peak-to-trough decline	-33.37%	-86.32%	+52.95%
Max Drawdown (1Y) Largest decline over 1 year	-9.46%	-38.32%	+28.86%
Max Drawdown (3Y) Largest decline over 3 years	-19.15%	-59.54%	+40.39%
Max Drawdown (5Y) Largest decline over 5 years	-24.65%	-61.54%	+36.89%
Max Drawdown (10Y) Largest decline over 10 years	—	-71.49%	—
Current Drawdown Current decline from peak	-2.45%	-80.51%	+78.06%
Average Drawdown Average peak-to-trough decline	-4.93%	-57.80%	+52.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.08%	22.24%	-20.16%

Volatility

SNPE vs. DGZ - Volatility Comparison

The current volatility for Xtrackers S&P 500 ESG ETF (SNPE) is 5.18%, while DB Gold Short Exchange Traded Notes (DGZ) has a volatility of 45.91%. This indicates that SNPE experiences smaller price fluctuations and is considered to be less risky than DGZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SNPE	DGZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.18%	45.91%	-40.73%
Volatility (6M) Calculated over the trailing 6-month period	10.18%	58.66%	-48.48%
Volatility (1Y) Calculated over the trailing 1-year period	12.71%	69.62%	-56.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.21%	36.50%	-19.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.68%	28.17%	-8.49%

SNPE vs. DGZ - Expense Ratio Comparison

SNPE has a 0.10% expense ratio, which is lower than DGZ's 0.75% expense ratio.

Dividends

SNPE vs. DGZ - Dividend Comparison

SNPE's dividend yield for the trailing twelve months is around 0.97%, while DGZ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
DGZ DB Gold Short Exchange Traded Notes	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SNPE Xtrackers S&P 500 ESG ETF	0.97%	1.01%	1.17%	1.32%	1.65%	1.08%	1.42%	1.20%

Frequently Asked Questions

Can I hold both SNPE and DGZ in my portfolio?

SNPE and DGZ have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SNPE or DGZ?

DGZ has higher volatility (45.91%) compared to SNPE (5.18%). In terms of maximum drawdown, SNPE dropped -33.37% vs DGZ's -86.32%.

Which ETF is better, SNPE or DGZ?

On 5-year performance, SNPE leads with 13.94% vs -9.28% for DGZ. On fees, SNPE is cheaper at 0.10% per year. On volatility, SNPE has been the lower-risk option at 5.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SNPE or DGZ?

Over the 5-year period, SNPE has performed better with a 13.94% return vs -9.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SNPE or DGZ?

SNPE is cheaper with a 0.10% expense ratio, compared with 0.75% for DGZ.

Which ETF pays a higher dividend yield, SNPE or DGZ?

SNPE has the higher dividend yield at 0.97%, compared with 0.00% for DGZ.

What is the main difference between SNPE and DGZ?

SNPE is categorized as S&P 500, while DGZ is Inverse Commodities. SNPE tracks S&P 500 ESG Index, while DGZ tracks Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return (-100%). Their fees differ too: 0.10% for SNPE and 0.75% for DGZ.

Which has better risk-adjusted returns?

SNPE currently has the higher Sharpe Ratio (2.18 vs -0.11), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.