SXR8.DE vs. ETL2.DE
SXR8.DE (iShares Core S&P 500 UCITS ETF USD (Acc)) and ETL2.DE (L&G Longer Dated All Commodities UCITS ETF) are both exchange-traded funds - SXR8.DE is a S&P 500 fund tracking the S&P 500 Index, while ETL2.DE is a Commodities fund tracking the Bloomberg Commodity 3 Month Forward. Both are passively managed. Over the past 10 years, SXR8.DE returned 15.15%/yr vs 7.32%/yr for ETL2.DE. At a 0.36 correlation, their price movements are largely independent. SXR8.DE charges 0.07%/yr vs 0.30%/yr for ETL2.DE.
Performance
SXR8.DE vs. ETL2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SXR8.DE achieves a 10.86% return, which is significantly lower than ETL2.DE's 11.73% return. Over the past 10 years, SXR8.DE has outperformed ETL2.DE with an annualized return of 15.15%, while ETL2.DE has yielded a comparatively lower 7.32% annualized return.
SXR8.DE
- 1D
- -0.91%
- 1M
- 0.26%
- YTD
- 10.86%
- 6M
- 11.09%
- 1Y
- 24.86%
- 3Y*
- 18.93%
- 5Y*
- 13.91%
- 10Y*
- 15.15%
ETL2.DE
- 1D
- 0.43%
- 1M
- -6.25%
- YTD
- 11.73%
- 6M
- 13.66%
- 1Y
- 23.04%
- 3Y*
- 8.87%
- 5Y*
- 11.81%
- 10Y*
- 7.32%
SXR8.DE vs. ETL2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SXR8.DE iShares Core S&P 500 UCITS ETF USD (Acc) | 10.86% | 4.73% | 32.32% | 22.47% | -14.31% | 40.74% | 6.80% | 34.49% | -1.05% | 6.67% |
ETL2.DE L&G Longer Dated All Commodities UCITS ETF | 11.73% | 4.89% | 11.58% | -9.47% | 24.86% | 46.21% | -7.56% | 10.89% | -4.22% | -9.85% |
Correlation
The correlation between SXR8.DE and ETL2.DE is 0.04, 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 | 0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2010 | 0.36 |
Over the past year, the correlation between SXR8.DE and ETL2.DE has dropped to 0.04 - well below their long-term average of 0.36, suggesting their price drivers have been diverging.
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Return for Risk
SXR8.DE vs. ETL2.DE — Risk / Return Rank
SXR8.DE
ETL2.DE
SXR8.DE vs. ETL2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 UCITS ETF USD (Acc) (SXR8.DE) and L&G Longer Dated All Commodities UCITS ETF (ETL2.DE). 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.
| SXR8.DE | ETL2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.28 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.57 | 2.48 | +1.08 |
| Martin ratioReturn relative to average drawdown | 12.66 | 8.80 | +3.86 |
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Drawdowns
SXR8.DE vs. ETL2.DE - Drawdown Comparison
The maximum SXR8.DE drawdown since its inception was -33.78%, smaller than the maximum ETL2.DE drawdown of -47.05%. Use the drawdown chart below to compare losses from any high point for SXR8.DE and ETL2.DE.
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Drawdown Indicators
| SXR8.DE | ETL2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.78% | -47.05% | +13.27% |
Max Drawdown (1Y)Largest decline over 1 year | -6.94% | -9.25% | +2.31% |
Max Drawdown (3Y)Largest decline over 3 years | -23.32% | -15.06% | -8.26% |
Max Drawdown (5Y)Largest decline over 5 years | -23.32% | -23.24% | -0.08% |
Max Drawdown (10Y)Largest decline over 10 years | -33.78% | -26.52% | -7.26% |
Current DrawdownCurrent decline from peak | -0.91% | -8.85% | +7.94% |
Average DrawdownAverage peak-to-trough decline | -5.21% | -22.24% | +17.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.96% | 2.61% | -0.65% |
Volatility
SXR8.DE vs. ETL2.DE - Volatility Comparison
iShares Core S&P 500 UCITS ETF USD (Acc) (SXR8.DE) and L&G Longer Dated All Commodities UCITS ETF (ETL2.DE) have volatilities of 3.36% and 3.35%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SXR8.DE | ETL2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.36% | 3.35% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 7.88% | 12.90% | -5.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.83% | 14.79% | -2.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.20% | 15.45% | -0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.09% | 13.68% | +2.41% |
SXR8.DE vs. ETL2.DE - Expense Ratio Comparison
SXR8.DE has a 0.07% expense ratio, which is lower than ETL2.DE's 0.30% expense ratio.
Dividends
SXR8.DE vs. ETL2.DE - Dividend Comparison
Neither SXR8.DE nor ETL2.DE has paid dividends to shareholders.
Frequently Asked Questions
SXR8.DE and ETL2.DE have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SXR8.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SXR8.DE is cheaper with a 0.07% expense ratio, compared with 0.30% for ETL2.DE.
SXR8.DE is categorized as S&P 500, while ETL2.DE is Commodities. SXR8.DE tracks S&P 500 Index, while ETL2.DE tracks Bloomberg Commodity 3 Month Forward. They also come from different issuers: iShares and Legal & General. Their fees differ too: 0.07% for SXR8.DE and 0.30% for ETL2.DE.
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