VEMT.L vs. 4GLD.DE
VEMT.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) and 4GLD.DE (Xetra-Gold) are both exchange-traded funds - VEMT.L is a Emerging Markets Bonds fund tracking the JPM EMBI Global Diversified TR USD, while 4GLD.DE is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 5 years, VEMT.L returned 3.20%/yr vs 20.01%/yr for 4GLD.DE. At a 0.27 correlation, their price movements are largely independent. VEMT.L charges 0.25%/yr vs 0.00%/yr for 4GLD.DE.
Performance
VEMT.L vs. 4GLD.DE - Performance Comparison
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Different Trading Currencies
VEMT.L is traded in GBP, while 4GLD.DE is traded in EUR. To make them comparable, the 4GLD.DE values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, VEMT.L achieves a 1.51% return, which is significantly lower than 4GLD.DE's 1.94% return.
VEMT.L
- 1D
- 0.03%
- 1M
- 1.28%
- YTD
- 1.51%
- 6M
- 1.47%
- 1Y
- 10.34%
- 3Y*
- 6.32%
- 5Y*
- 3.20%
- 10Y*
- —
4GLD.DE
- 1D
- 0.65%
- 1M
- -3.81%
- YTD
- 1.94%
- 6M
- 5.60%
- 1Y
- 35.03%
- 3Y*
- 28.35%
- 5Y*
- 20.01%
- 10Y*
- 14.46%
VEMT.L vs. 4GLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEMT.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 1.51% | 4.08% | 8.08% | 3.45% | -5.21% | -0.56% | 2.53% | 9.68% | 2.79% | -1.60% |
4GLD.DE Xetra-Gold | 1.94% | 57.09% | 28.71% | 7.13% | 12.98% | -3.31% | 19.44% | 14.94% | 4.66% | 2.53% |
Correlation
The correlation between VEMT.L and 4GLD.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 | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2016 | 0.27 |
Over the past year, the correlation between VEMT.L and 4GLD.DE has dropped to 0.04 - well below their long-term average of 0.27, suggesting their price drivers have been diverging.
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Return for Risk
VEMT.L vs. 4GLD.DE — Risk / Return Rank
VEMT.L
4GLD.DE
VEMT.L vs. 4GLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VEMT.L) 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.
| VEMT.L | 4GLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.28 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | 1.94 | +0.44 |
| Martin ratioReturn relative to average drawdown | 6.68 | 5.13 | +1.56 |
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
| VEMT.L | 4GLD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.69 | 1.45 | +0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 1.22 | -0.83 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.91 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.65 | -0.35 |
Drawdowns
VEMT.L vs. 4GLD.DE - Drawdown Comparison
The maximum VEMT.L drawdown since its inception was -14.62%, smaller than the maximum 4GLD.DE drawdown of -40.90%. Use the drawdown chart below to compare losses from any high point for VEMT.L and 4GLD.DE.
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Drawdown Indicators
| VEMT.L | 4GLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.62% | -40.90% | +26.28% |
Max Drawdown (1Y)Largest decline over 1 year | -4.33% | -17.27% | +12.94% |
Max Drawdown (3Y)Largest decline over 3 years | -8.60% | -17.27% | +8.67% |
Max Drawdown (5Y)Largest decline over 5 years | -11.41% | -17.27% | +5.86% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.46% | — |
Current DrawdownCurrent decline from peak | -0.54% | -15.64% | +15.10% |
Average DrawdownAverage peak-to-trough decline | -5.87% | -12.90% | +7.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 6.56% | -5.02% |
Volatility
VEMT.L vs. 4GLD.DE - Volatility Comparison
The current volatility for Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VEMT.L) is 1.33%, while Xetra-Gold (4GLD.DE) has a volatility of 5.09%. This indicates that VEMT.L 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
| VEMT.L | 4GLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 5.09% | -3.76% |
Volatility (6M)Calculated over the trailing 6-month period | 4.43% | 19.99% | -15.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.11% | 23.11% | -17.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.13% | 16.20% | -8.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.14% | 15.78% | -6.64% |
VEMT.L vs. 4GLD.DE - Expense Ratio Comparison
VEMT.L has a 0.25% 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
VEMT.L vs. 4GLD.DE - Dividend Comparison
VEMT.L's dividend yield for the trailing twelve months is around 5.92%, while 4GLD.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
4GLD.DE Xetra-Gold | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VEMT.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.92% | 6.17% | 5.74% | 5.56% | 4.88% | 3.81% | 4.47% | 4.46% | 4.45% | 4.81% |
Frequently Asked Questions
VEMT.L and 4GLD.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, 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 0.25% for VEMT.L.
VEMT.L is categorized as Emerging Markets Bonds, while 4GLD.DE is Gold. VEMT.L tracks JPM EMBI Global Diversified TR USD, while 4GLD.DE tracks LBMA Gold Price. They also come from different issuers: Vanguard and Deutsche Börse Commodities. Their fees differ too: 0.25% for VEMT.L and 0.00% for 4GLD.DE.
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