TRET.DE vs. ETL2.DE

Last updated Jun 5, 2026

TRET.DE (VanEck Global Real Estate UCITS ETF) and ETL2.DE (L&G Longer Dated All Commodities UCITS ETF) are both exchange-traded funds - TRET.DE is a REIT fund tracking the GPR Global 100, while ETL2.DE is a Commodities fund tracking the Bloomberg Commodity 3 Month Forward. Both are passively managed. Over the past 5 years, TRET.DE returned 3.26%/yr vs 13.12%/yr for ETL2.DE. At a 0.18 correlation, their price movements are largely independent. TRET.DE charges 0.25%/yr vs 0.30%/yr for ETL2.DE.

Performance

TRET.DE vs. ETL2.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in VanEck Global Real Estate UCITS ETF (TRET.DE) and L&G Longer Dated All Commodities UCITS ETF (ETL2.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRET.DE achieves a 5.31% return, which is significantly lower than ETL2.DE's 18.23% return.

TRET.DE

• 1D: 0.19%
• 1M: -1.75%
• YTD: 5.31%
• 6M: 4.13%
• 1Y: 8.78%
• 3Y*: 7.84%
• 5Y*: 3.26%
• 10Y*: —

ETL2.DE

• 1D: -1.24%
• 1M: -1.51%
• YTD: 18.23%
• 6M: 19.58%
• 1Y: 28.45%
• 3Y*: 10.87%
• 5Y*: 13.12%
• 10Y*: 8.17%

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

TRET.DE vs. ETL2.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TRET.DE VanEck Global Real Estate UCITS ETF	5.31%	1.87%	6.86%	9.89%	-21.28%	40.76%	-15.21%	22.15%	-7.54%
ETL2.DE L&G Longer Dated All Commodities UCITS ETF	18.23%	4.89%	11.54%	-9.44%	24.86%	46.17%	-7.55%	10.85%	-4.80%

Correlation

The correlation between TRET.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	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (All Time) Calculated using the full available price history since Dec 12, 2018	0.18

The correlation between TRET.DE and ETL2.DE shifts across timeframes, from -0.04 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TRET.DE vs. ETL2.DE — Risk / Return Rank

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

TRET.DE

TRET.DE Risk / Return Rank: 23
TRET.DE Sharpe Ratio Rank: 22
TRET.DE Sortino Ratio Rank: 22
TRET.DE Omega Ratio Rank: 21
TRET.DE Calmar Ratio Rank: 23
TRET.DE Martin Ratio Rank: 25

ETL2.DE

ETL2.DE Risk / Return Rank: 57
ETL2.DE Sharpe Ratio Rank: 56
ETL2.DE Sortino Ratio Rank: 51
ETL2.DE Omega Ratio Rank: 54
ETL2.DE Calmar Ratio Rank: 72
ETL2.DE Martin Ratio Rank: 49

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.

TRET.DE vs. ETL2.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Global Real Estate UCITS ETF (TRET.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.

	TRET.DE	ETL2.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.75	1.87	-1.12
Sortino ratio: Return per unit of downside risk	1.13	2.47	-1.34
Omega ratio: Gain probability vs. loss probability	1.13	1.33	-0.20
Calmar ratio: Return relative to maximum drawdown	1.05	3.59	-2.54
Martin ratio: Return relative to average drawdown	3.38	8.20	-4.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRET.DE vs. ETL2.DE - Sharpe Ratio Comparison

The current TRET.DE Sharpe Ratio is 0.75, which is lower than the ETL2.DE Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of TRET.DE and ETL2.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TRET.DE	ETL2.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	1.87	-1.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.84	-0.63
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.25	-0.03

Drawdowns

TRET.DE vs. ETL2.DE - Drawdown Comparison

The maximum TRET.DE drawdown since its inception was -41.75%, smaller than the maximum ETL2.DE drawdown of -47.04%. Use the drawdown chart below to compare losses from any high point for TRET.DE and ETL2.DE.

Drawdown Indicators

	TRET.DE	ETL2.DE	Difference
Max Drawdown Largest peak-to-trough decline	-41.75%	-47.04%	+5.29%
Max Drawdown (1Y) Largest decline over 1 year	-8.35%	-7.90%	-0.45%
Max Drawdown (3Y) Largest decline over 3 years	-18.60%	-15.06%	-3.54%
Max Drawdown (5Y) Largest decline over 5 years	-30.36%	-23.27%	-7.09%
Max Drawdown (10Y) Largest decline over 10 years	—	-26.50%	—
Current Drawdown Current decline from peak	-4.46%	-3.57%	-0.89%
Average Drawdown Average peak-to-trough decline	-12.19%	-21.90%	+9.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	3.46%	-0.87%

Volatility

TRET.DE vs. ETL2.DE - Volatility Comparison

The current volatility for VanEck Global Real Estate UCITS ETF (TRET.DE) is 3.05%, while L&G Longer Dated All Commodities UCITS ETF (ETL2.DE) has a volatility of 4.60%. This indicates that TRET.DE experiences smaller price fluctuations and is considered to be less risky than ETL2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRET.DE	ETL2.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.05%	4.60%	-1.55%
Volatility (6M) Calculated over the trailing 6-month period	9.21%	12.74%	-3.53%
Volatility (1Y) Calculated over the trailing 1-year period	11.66%	15.15%	-3.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.15%	15.44%	-0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.83%	13.69%	+4.14%

TRET.DE vs. ETL2.DE - Expense Ratio Comparison

TRET.DE has a 0.25% expense ratio, which is lower than ETL2.DE's 0.30% expense ratio.

Dividends

TRET.DE vs. ETL2.DE - Dividend Comparison

TRET.DE's dividend yield for the trailing twelve months is around 3.48%, while ETL2.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ETL2.DE L&G Longer Dated All Commodities UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TRET.DE VanEck Global Real Estate UCITS ETF	3.48%	3.66%	3.44%	3.66%	4.69%	1.78%	4.45%	3.31%

Frequently Asked Questions

Can I hold both TRET.DE and ETL2.DE in my portfolio?

TRET.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.

Which ETF is better, TRET.DE or ETL2.DE?

On fees, TRET.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TRET.DE or ETL2.DE?

TRET.DE is cheaper with a 0.25% expense ratio, compared with 0.30% for ETL2.DE.

What is the main difference between TRET.DE and ETL2.DE?

TRET.DE is categorized as REIT, while ETL2.DE is Commodities. TRET.DE tracks GPR Global 100, while ETL2.DE tracks Bloomberg Commodity 3 Month Forward. They also come from different issuers: VanEck and Legal & General. Their fees differ too: 0.25% for TRET.DE and 0.30% for ETL2.DE.