VETA.L vs. PPFB.DE
VETA.L (Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating) and PPFB.DE (iShares Physical Gold ETC) are both exchange-traded funds - VETA.L is a European Government Bonds fund tracking the Bloomberg Euro Agg Govt TR EUR, while PPFB.DE is a Precious Metals fund tracking the Gold. Both are passively managed. Over the past 3 years, VETA.L returned 2.47%/yr vs 28.23%/yr for PPFB.DE. At a 0.25 correlation, their price movements are largely independent. VETA.L charges 0.07%/yr vs 0.12%/yr for PPFB.DE.
Performance
VETA.L vs. PPFB.DE - Performance Comparison
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Different Trading Currencies
VETA.L is traded in GBP, while PPFB.DE is traded in EUR. To make them comparable, the PPFB.DE values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, VETA.L achieves a -0.82% return, which is significantly lower than PPFB.DE's 1.93% return.
VETA.L
- 1D
- 0.23%
- 1M
- 0.78%
- YTD
- -0.82%
- 6M
- -0.92%
- 1Y
- 2.67%
- 3Y*
- 2.47%
- 5Y*
- -2.10%
- 10Y*
- —
PPFB.DE
- 1D
- 0.74%
- 1M
- -1.35%
- YTD
- 1.93%
- 6M
- 5.36%
- 1Y
- 33.72%
- 3Y*
- 28.23%
- 5Y*
- —
- 10Y*
- —
VETA.L vs. PPFB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
VETA.L Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating | -0.82% | 5.79% | -2.93% | 4.76% | -13.59% | -3.52% |
PPFB.DE iShares Physical Gold ETC | 1.93% | 56.87% | 28.32% | 7.24% | 12.90% | 1.36% |
Correlation
The correlation between VETA.L and PPFB.DE is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jul 19, 2021 | 0.25 |
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Return for Risk
VETA.L vs. PPFB.DE — Risk / Return Rank
VETA.L
PPFB.DE
VETA.L vs. PPFB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VETA.L) and iShares Physical Gold ETC (PPFB.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.
| VETA.L | PPFB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.28 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.57 | 1.94 | -1.37 |
| Martin ratioReturn relative to average drawdown | 1.29 | 5.11 | -3.82 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VETA.L | PPFB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.49 | 1.45 | -0.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.28 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.08 | 1.26 | -1.34 |
Drawdowns
VETA.L vs. PPFB.DE - Drawdown Comparison
The maximum VETA.L drawdown since its inception was -26.60%, which is greater than PPFB.DE's maximum drawdown of -17.33%. Use the drawdown chart below to compare losses from any high point for VETA.L and PPFB.DE.
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Drawdown Indicators
| VETA.L | PPFB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.60% | -17.33% | -9.27% |
Max Drawdown (1Y)Largest decline over 1 year | -4.66% | -17.33% | +12.67% |
Max Drawdown (3Y)Largest decline over 3 years | -6.23% | -17.33% | +11.10% |
Max Drawdown (5Y)Largest decline over 5 years | -20.71% | — | — |
Current DrawdownCurrent decline from peak | -18.72% | -15.65% | -3.07% |
Average DrawdownAverage peak-to-trough decline | -15.05% | -3.73% | -11.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.07% | 6.59% | -4.52% |
Volatility
VETA.L vs. PPFB.DE - Volatility Comparison
The current volatility for Vanguard EUR Eurozone Government Bond UCITS ETF Accumulating (VETA.L) is 1.85%, while iShares Physical Gold ETC (PPFB.DE) has a volatility of 5.11%. This indicates that VETA.L experiences smaller price fluctuations and is considered to be less risky than PPFB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VETA.L | PPFB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.85% | 5.11% | -3.26% |
Volatility (6M)Calculated over the trailing 6-month period | 4.18% | 20.09% | -15.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.43% | 23.17% | -17.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.49% | 16.30% | -8.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.96% | 16.30% | -8.34% |
VETA.L vs. PPFB.DE - Expense Ratio Comparison
VETA.L has a 0.07% expense ratio, which is lower than PPFB.DE's 0.12% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VETA.L vs. PPFB.DE - Dividend Comparison
Neither VETA.L nor PPFB.DE has paid dividends to shareholders.
Frequently Asked Questions
VETA.L and PPFB.DE have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VETA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VETA.L is cheaper with a 0.07% expense ratio, compared with 0.12% for PPFB.DE.
VETA.L is categorized as European Government Bonds, while PPFB.DE is Precious Metals. VETA.L tracks Bloomberg Euro Agg Govt TR EUR, while PPFB.DE tracks Gold. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.07% for VETA.L and 0.12% for PPFB.DE.
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