SXRS.DE vs. ETLF.DE
SXRS.DE (iShares Diversified Commodity Swap UCITS ETF) and ETLF.DE (L&G All Commodities UCITS ETF) are both Commodities funds tracking the Bloomberg Commodity, from iShares and Legal & General respectively. Both are passively managed. Over the past 5 years, SXRS.DE returned 12.06%/yr vs 12.26%/yr for ETLF.DE. With a 0.99 correlation, they move nearly in lockstep. SXRS.DE charges 0.19%/yr vs 0.15%/yr for ETLF.DE.
Performance
SXRS.DE vs. ETLF.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with SXRS.DE having a 23.84% return and ETLF.DE slightly lower at 23.78%.
SXRS.DE
- 1D
- -1.56%
- 1M
- -0.35%
- YTD
- 23.84%
- 6M
- 22.88%
- 1Y
- 34.67%
- 3Y*
- 12.54%
- 5Y*
- 12.06%
- 10Y*
- —
ETLF.DE
- 1D
- -1.48%
- 1M
- -0.32%
- YTD
- 23.78%
- 6M
- 22.90%
- 1Y
- 34.57%
- 3Y*
- 12.51%
- 5Y*
- 12.26%
- 10Y*
- —
SXRS.DE vs. ETLF.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SXRS.DE iShares Diversified Commodity Swap UCITS ETF | 23.84% | 4.72% | 10.95% | -10.44% | 20.69% | 40.00% | -13.37% | 9.72% | -6.15% |
ETLF.DE L&G All Commodities UCITS ETF | 23.78% | 4.67% | 10.97% | -10.24% | 21.51% | 40.15% | -13.51% | 9.35% | -5.88% |
Correlation
The correlation between SXRS.DE and ETLF.DE is 1.00 - 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 | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Apr 26, 2018 | 0.99 |
The correlation between SXRS.DE and ETLF.DE has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
SXRS.DE vs. ETLF.DE — Risk / Return Rank
SXRS.DE
ETLF.DE
SXRS.DE vs. ETLF.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Diversified Commodity Swap UCITS ETF (SXRS.DE) and L&G All Commodities UCITS ETF (ETLF.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.
| SXRS.DE | ETLF.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.34 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 4.00 | 3.96 | +0.04 |
| Martin ratioReturn relative to average drawdown | 8.95 | 8.79 | +0.16 |
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
| SXRS.DE | ETLF.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | 1.86 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.70 | 0.71 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.53 | +0.01 |
Drawdowns
SXRS.DE vs. ETLF.DE - Drawdown Comparison
The maximum SXRS.DE drawdown since its inception was -27.64%, roughly equal to the maximum ETLF.DE drawdown of -28.78%. Use the drawdown chart below to compare losses from any high point for SXRS.DE and ETLF.DE.
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Drawdown Indicators
| SXRS.DE | ETLF.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.64% | -28.78% | +1.14% |
Max Drawdown (1Y)Largest decline over 1 year | -8.75% | -8.80% | +0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -16.03% | -15.96% | -0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -27.56% | -27.00% | -0.56% |
Current DrawdownCurrent decline from peak | -4.99% | -4.91% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -13.12% | -12.13% | -0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.92% | 3.97% | -0.05% |
Volatility
SXRS.DE vs. ETLF.DE - Volatility Comparison
iShares Diversified Commodity Swap UCITS ETF (SXRS.DE) and L&G All Commodities UCITS ETF (ETLF.DE) have volatilities of 5.76% and 5.93%, 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
| SXRS.DE | ETLF.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.76% | 5.93% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 16.67% | 16.60% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.76% | 18.79% | -0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.13% | 17.09% | +0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.85% | 15.59% | +0.26% |
SXRS.DE vs. ETLF.DE - Expense Ratio Comparison
SXRS.DE has a 0.19% expense ratio, which is higher than ETLF.DE's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SXRS.DE vs. ETLF.DE - Dividend Comparison
Neither SXRS.DE nor ETLF.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 1.00, SXRS.DE and ETLF.DE 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, ETLF.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETLF.DE is cheaper with a 0.15% expense ratio, compared with 0.19% for SXRS.DE.
Both ETFs track Bloomberg Commodity. They also come from different issuers: iShares and Legal & General. Their fees differ too: 0.19% for SXRS.DE and 0.15% for ETLF.DE.
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