VNRT.DE vs. ETL2.DE
VNRT.DE (Vanguard FTSE North America UCITS ETF Distributing) and ETL2.DE (L&G Longer Dated All Commodities UCITS ETF) are both exchange-traded funds - VNRT.DE is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while ETL2.DE is a Commodities fund tracking the Bloomberg Commodity 3 Month Forward. Both are passively managed. Over the past 5 years, VNRT.DE returned 14.33%/yr vs 13.12%/yr for ETL2.DE. At a 0.28 correlation, their price movements are largely independent. VNRT.DE charges 0.10%/yr vs 0.30%/yr for ETL2.DE.
Performance
VNRT.DE vs. ETL2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, VNRT.DE achieves a 11.18% return, which is significantly lower than ETL2.DE's 18.23% return.
VNRT.DE
- 1D
- -0.06%
- 1M
- 5.35%
- YTD
- 11.18%
- 6M
- 11.26%
- 1Y
- 25.31%
- 3Y*
- 19.05%
- 5Y*
- 14.33%
- 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%
VNRT.DE vs. ETL2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VNRT.DE Vanguard FTSE North America UCITS ETF Distributing | 11.18% | 5.38% | 31.91% | 22.71% | -15.21% | 38.59% | 8.35% | 34.70% | -1.98% | 2.78% |
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% | -4.21% | -0.17% |
Correlation
The correlation between VNRT.DE and ETL2.DE is 0.03, 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 | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.28 |
Over the past year, the correlation between VNRT.DE and ETL2.DE has dropped to 0.03 - well below their long-term average of 0.28, suggesting their price drivers have been diverging.
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Return for Risk
VNRT.DE vs. ETL2.DE — Risk / Return Rank
VNRT.DE
ETL2.DE
VNRT.DE vs. ETL2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE North America UCITS ETF Distributing (VNRT.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.
| VNRT.DE | ETL2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.33 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.55 | 3.59 | -0.04 |
| Martin ratioReturn relative to average drawdown | 12.68 | 8.20 | +4.49 |
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
| VNRT.DE | ETL2.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.20 | 1.87 | +0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.93 | 0.84 | +0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | 0.25 | +0.62 |
Drawdowns
VNRT.DE vs. ETL2.DE - Drawdown Comparison
The maximum VNRT.DE drawdown since its inception was -34.52%, smaller than the maximum ETL2.DE drawdown of -47.04%. Use the drawdown chart below to compare losses from any high point for VNRT.DE and ETL2.DE.
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Drawdown Indicators
| VNRT.DE | ETL2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.52% | -47.04% | +12.52% |
Max Drawdown (1Y)Largest decline over 1 year | -7.10% | -7.90% | +0.80% |
Max Drawdown (3Y)Largest decline over 3 years | -23.32% | -15.06% | -8.26% |
Max Drawdown (5Y)Largest decline over 5 years | -23.32% | -23.27% | -0.05% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.50% | — |
Current DrawdownCurrent decline from peak | -0.35% | -3.57% | +3.22% |
Average DrawdownAverage peak-to-trough decline | -4.44% | -21.90% | +17.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | 3.46% | -1.47% |
Volatility
VNRT.DE vs. ETL2.DE - Volatility Comparison
The current volatility for Vanguard FTSE North America UCITS ETF Distributing (VNRT.DE) is 2.64%, while L&G Longer Dated All Commodities UCITS ETF (ETL2.DE) has a volatility of 4.60%. This indicates that VNRT.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.
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Volatility by Period
| VNRT.DE | ETL2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.64% | 4.60% | -1.96% |
Volatility (6M)Calculated over the trailing 6-month period | 7.50% | 12.74% | -5.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.47% | 15.15% | -3.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.27% | 15.44% | -0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.82% | 13.69% | +3.13% |
VNRT.DE vs. ETL2.DE - Expense Ratio Comparison
VNRT.DE has a 0.10% expense ratio, which is lower than ETL2.DE's 0.30% expense ratio.
Dividends
VNRT.DE vs. ETL2.DE - Dividend Comparison
VNRT.DE's dividend yield for the trailing twelve months is around 0.88%, while ETL2.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
VNRT.DE Vanguard FTSE North America UCITS ETF Distributing | 0.88% | 0.98% | 0.99% | 1.25% | 1.46% | 1.00% | 1.42% | 1.43% | 1.78% | 0.41% |
Frequently Asked Questions
VNRT.DE and ETL2.DE have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VNRT.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VNRT.DE is cheaper with a 0.10% expense ratio, compared with 0.30% for ETL2.DE.
VNRT.DE is categorized as Large Cap Blend Equities, while ETL2.DE is Commodities. VNRT.DE tracks Russell 1000 TR USD, while ETL2.DE tracks Bloomberg Commodity 3 Month Forward. They also come from different issuers: Vanguard and Legal & General. Their fees differ too: 0.10% for VNRT.DE and 0.30% for ETL2.DE.
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