TDIV.AS vs. 4GLD.DE
TDIV.AS (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF) and 4GLD.DE (Xetra-Gold) are both exchange-traded funds - TDIV.AS is a Global Equity Income fund tracking the Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index, while 4GLD.DE is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, TDIV.AS returned 12.48%/yr vs 12.28%/yr for 4GLD.DE. At a 0.01 correlation, their price movements are largely independent. TDIV.AS charges 0.38%/yr vs 0.00%/yr for 4GLD.DE.
Performance
TDIV.AS vs. 4GLD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, TDIV.AS achieves a 11.72% return, which is significantly higher than 4GLD.DE's -2.63% return. Both investments have delivered pretty close results over the past 10 years, with TDIV.AS having a 12.48% annualized return and 4GLD.DE not far behind at 12.28%.
TDIV.AS
- 1D
- 0.36%
- 1M
- 2.53%
- YTD
- 11.72%
- 6M
- 13.92%
- 1Y
- 27.83%
- 3Y*
- 20.14%
- 5Y*
- 17.83%
- 10Y*
- 12.48%
4GLD.DE
- 1D
- 2.93%
- 1M
- -9.07%
- YTD
- -2.63%
- 6M
- -0.59%
- 1Y
- 24.49%
- 3Y*
- 26.47%
- 5Y*
- 18.62%
- 10Y*
- 12.28%
TDIV.AS vs. 4GLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TDIV.AS VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF | 11.72% | 24.39% | 15.90% | 11.75% | 15.40% | 27.83% | -10.16% | 20.97% | -7.12% | 2.88% |
4GLD.DE Xetra-Gold | -2.63% | 49.32% | 34.57% | 9.33% | 7.12% | 4.03% | 13.03% | 21.27% | 3.19% | -1.67% |
Correlation
The correlation between TDIV.AS and 4GLD.DE is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since May 23, 2016 | 0.01 |
The correlation between TDIV.AS and 4GLD.DE shifts across timeframes, from 0.01 (all time) to 0.14 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TDIV.AS vs. 4GLD.DE — Risk / Return Rank
TDIV.AS
4GLD.DE
TDIV.AS vs. 4GLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDIV.AS) and Xetra-Gold (4GLD.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.
| TDIV.AS | 4GLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.99 | ||
| Sortino ratioReturn per unit of downside risk | +2.86 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.21 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 7.82 | 1.12 | +6.69 |
| Martin ratioReturn relative to average drawdown | 22.20 | 3.41 | +18.79 |
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Drawdowns
TDIV.AS vs. 4GLD.DE - Drawdown Comparison
The maximum TDIV.AS drawdown since its inception was -36.10%, roughly equal to the maximum 4GLD.DE drawdown of -36.79%. Use the drawdown chart below to compare losses from any high point for TDIV.AS and 4GLD.DE.
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Drawdown Indicators
| TDIV.AS | 4GLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.10% | -36.79% | +0.69% |
Max Drawdown (1Y)Largest decline over 1 year | -3.51% | -21.73% | +18.22% |
Max Drawdown (3Y)Largest decline over 3 years | -15.88% | -21.73% | +5.85% |
Max Drawdown (5Y)Largest decline over 5 years | -15.88% | -21.73% | +5.85% |
Max Drawdown (10Y)Largest decline over 10 years | -36.10% | -21.73% | -14.37% |
Current DrawdownCurrent decline from peak | -0.36% | -19.44% | +19.08% |
Average DrawdownAverage peak-to-trough decline | -3.97% | -12.03% | +8.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 7.11% | -5.89% |
Volatility
TDIV.AS vs. 4GLD.DE - Volatility Comparison
The current volatility for VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDIV.AS) is 2.29%, while Xetra-Gold (4GLD.DE) has a volatility of 6.93%. This indicates that TDIV.AS experiences smaller price fluctuations and is considered to be less risky than 4GLD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TDIV.AS | 4GLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.29% | 6.93% | -4.64% |
Volatility (6M)Calculated over the trailing 6-month period | 6.74% | 20.81% | -14.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.12% | 23.70% | -14.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.12% | 16.29% | -3.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.70% | 14.56% | +0.14% |
TDIV.AS vs. 4GLD.DE - Expense Ratio Comparison
TDIV.AS has a 0.38% expense ratio, which is higher than 4GLD.DE's 0.00% expense ratio.
Dividends
TDIV.AS vs. 4GLD.DE - Dividend Comparison
TDIV.AS's dividend yield for the trailing twelve months is around 3.14%, while 4GLD.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
4GLD.DE Xetra-Gold | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TDIV.AS VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF | 3.14% | 3.58% | 4.19% | 4.98% | 4.58% | 3.98% | 4.12% | 4.40% | 4.93% | 3.95% | 1.11% |
Frequently Asked Questions
TDIV.AS and 4GLD.DE have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 4GLD.DE is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
4GLD.DE is cheaper with a 0.00% expense ratio, compared with 0.38% for TDIV.AS.
TDIV.AS is categorized as Global Equity Income, while 4GLD.DE is Gold. TDIV.AS tracks Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index, while 4GLD.DE tracks LBMA Gold Price. They also come from different issuers: VanEck and Deutsche Börse Commodities. Their fees differ too: 0.38% for TDIV.AS and 0.00% for 4GLD.DE.
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