TLT vs. 4GLD.DE
TLT (iShares 20+ Year Treasury Bond ETF) and 4GLD.DE (Xetra-Gold) are both exchange-traded funds - TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while 4GLD.DE is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, TLT returned -1.75%/yr vs 12.64%/yr for 4GLD.DE. At a 0.16 correlation, their price movements are largely independent. TLT charges 0.15%/yr vs 0.00%/yr for 4GLD.DE.
Performance
TLT vs. 4GLD.DE - Performance Comparison
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Different Trading Currencies
TLT is traded in USD, while 4GLD.DE is traded in EUR. To make them comparable, the 4GLD.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, TLT achieves a 0.27% return, which is significantly higher than 4GLD.DE's -4.13% return. Over the past 10 years, TLT has underperformed 4GLD.DE with an annualized return of -1.75%, while 4GLD.DE has yielded a comparatively higher 12.64% annualized return.
TLT
- 1D
- -0.24%
- 1M
- 1.54%
- YTD
- 0.27%
- 6M
- 0.45%
- 1Y
- 2.88%
- 3Y*
- -1.38%
- 5Y*
- -6.53%
- 10Y*
- -1.75%
4GLD.DE
- 1D
- 2.82%
- 1M
- -10.21%
- YTD
- -4.13%
- 6M
- -2.05%
- 1Y
- 24.35%
- 3Y*
- 29.42%
- 5Y*
- 17.54%
- 10Y*
- 12.64%
TLT vs. 4GLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TLT iShares 20+ Year Treasury Bond ETF | 0.27% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
4GLD.DE Xetra-Gold | -4.13% | 68.58% | 26.88% | 12.78% | 0.68% | -3.06% | 23.04% | 18.91% | -1.62% | 12.24% |
Correlation
The correlation between TLT 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 | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2009 | 0.16 |
The correlation between TLT and 4GLD.DE shifts across timeframes, from 0.11 (1 year) to 0.25 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
TLT vs. 4GLD.DE — Risk / Return Rank
TLT
4GLD.DE
TLT vs. 4GLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 20+ Year Treasury Bond ETF (TLT) 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.
| TLT | 4GLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.19 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.38 | 1.08 | -0.69 |
| Martin ratioReturn relative to average drawdown | 0.92 | 3.28 | -2.35 |
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Drawdowns
TLT vs. 4GLD.DE - Drawdown Comparison
The maximum TLT drawdown since its inception was -48.35%, which is greater than 4GLD.DE's maximum drawdown of -44.26%. Use the drawdown chart below to compare losses from any high point for TLT and 4GLD.DE.
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Drawdown Indicators
| TLT | 4GLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.35% | -44.26% | -4.09% |
Max Drawdown (1Y)Largest decline over 1 year | -7.58% | -22.52% | +14.94% |
Max Drawdown (3Y)Largest decline over 3 years | -19.18% | -22.52% | +3.34% |
Max Drawdown (5Y)Largest decline over 5 years | -43.70% | -22.52% | -21.18% |
Max Drawdown (10Y)Largest decline over 10 years | -48.35% | -22.52% | -25.83% |
Current DrawdownCurrent decline from peak | -40.12% | -20.33% | -19.79% |
Average DrawdownAverage peak-to-trough decline | -13.84% | -17.59% | +3.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.14% | 7.40% | -4.26% |
Volatility
TLT vs. 4GLD.DE - Volatility Comparison
The current volatility for iShares 20+ Year Treasury Bond ETF (TLT) is 2.83%, while Xetra-Gold (4GLD.DE) has a volatility of 7.56%. This indicates that TLT 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
| TLT | 4GLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.83% | 7.56% | -4.73% |
Volatility (6M)Calculated over the trailing 6-month period | 6.64% | 21.74% | -15.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.68% | 24.91% | -15.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.85% | 17.59% | -1.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.91% | 15.77% | -0.86% |
TLT vs. 4GLD.DE - Expense Ratio Comparison
TLT has a 0.15% expense ratio, which is higher than 4GLD.DE's 0.00% 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
TLT vs. 4GLD.DE - Dividend Comparison
TLT's dividend yield for the trailing twelve months is around 4.56%, while 4GLD.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.56% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Frequently Asked Questions
TLT 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 0.15% for TLT.
TLT is categorized as Government Bonds, while 4GLD.DE is Gold. TLT tracks ICE U.S. Treasury 20+ Year Bond Index, while 4GLD.DE tracks LBMA Gold Price. They also come from different issuers: iShares and Deutsche Börse Commodities. Their fees differ too: 0.15% for TLT and 0.00% for 4GLD.DE.
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