XAAG.DE vs. 4GLD.DE
XAAG.DE (Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc) and 4GLD.DE (Xetra-Gold) are both exchange-traded funds - XAAG.DE is a Commodities fund tracking the Bloomberg Commodity ex-Agriculture and Livestock, while 4GLD.DE is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 5 years, XAAG.DE returned 14.95%/yr vs 19.85%/yr for 4GLD.DE. At a 0.34 correlation, their price movements are largely independent. XAAG.DE charges 0.19%/yr vs 0.00%/yr for 4GLD.DE.
Performance
XAAG.DE vs. 4GLD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XAAG.DE achieves a 27.69% return, which is significantly higher than 4GLD.DE's 2.80% return.
XAAG.DE
- 1D
- -0.56%
- 1M
- 2.26%
- YTD
- 27.69%
- 6M
- 27.75%
- 1Y
- 46.69%
- 3Y*
- 17.71%
- 5Y*
- 14.95%
- 10Y*
- —
4GLD.DE
- 1D
- 0.57%
- 1M
- -3.60%
- YTD
- 2.80%
- 6M
- 6.23%
- 1Y
- 31.21%
- 3Y*
- 28.18%
- 5Y*
- 19.85%
- 10Y*
- 13.36%
XAAG.DE vs. 4GLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XAAG.DE Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc | 27.69% | 12.13% | 14.84% | -14.76% | 23.35% | 39.76% | -19.46% | 12.99% | -5.11% | 4.28% |
4GLD.DE Xetra-Gold | 2.80% | 49.32% | 34.57% | 9.32% | 7.12% | 4.03% | 13.05% | 21.25% | 3.20% | -4.30% |
Correlation
The correlation between XAAG.DE and 4GLD.DE is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since May 31, 2017 | 0.34 |
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Return for Risk
XAAG.DE vs. 4GLD.DE — Risk / Return Rank
XAAG.DE
4GLD.DE
XAAG.DE vs. 4GLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc (XAAG.DE) 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.
| XAAG.DE | 4GLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.86 | ||
| Sortino ratioReturn per unit of downside risk | +0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.26 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 4.08 | 1.82 | +2.26 |
| Martin ratioReturn relative to average drawdown | 9.65 | 4.63 | +5.03 |
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
| XAAG.DE | 4GLD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.17 | 1.31 | +0.86 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 1.23 | -0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.92 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.65 | -0.16 |
Drawdowns
XAAG.DE vs. 4GLD.DE - Drawdown Comparison
The maximum XAAG.DE drawdown since its inception was -33.85%, smaller than the maximum 4GLD.DE drawdown of -36.79%. Use the drawdown chart below to compare losses from any high point for XAAG.DE and 4GLD.DE.
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Drawdown Indicators
| XAAG.DE | 4GLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.85% | -36.79% | +2.94% |
Max Drawdown (1Y)Largest decline over 1 year | -11.54% | -16.54% | +5.00% |
Max Drawdown (3Y)Largest decline over 3 years | -16.26% | -16.54% | +0.28% |
Max Drawdown (5Y)Largest decline over 5 years | -33.85% | -16.54% | -17.31% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.23% | — |
Current DrawdownCurrent decline from peak | -2.54% | -14.95% | +12.41% |
Average DrawdownAverage peak-to-trough decline | -13.88% | -11.83% | -2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.89% | 6.52% | -1.63% |
Volatility
XAAG.DE vs. 4GLD.DE - Volatility Comparison
The current volatility for Invesco Bloomberg Commodity ex-Agriculture UCITS ETF Acc (XAAG.DE) is 4.71%, while Xetra-Gold (4GLD.DE) has a volatility of 5.09%. This indicates that XAAG.DE 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
| XAAG.DE | 4GLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.71% | 5.09% | -0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 18.81% | 20.09% | -1.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.76% | 23.06% | -1.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.32% | 16.00% | +4.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.40% | 14.37% | +4.03% |
XAAG.DE vs. 4GLD.DE - Expense Ratio Comparison
XAAG.DE has a 0.19% 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
XAAG.DE vs. 4GLD.DE - Dividend Comparison
Neither XAAG.DE nor 4GLD.DE has paid dividends to shareholders.
Frequently Asked Questions
XAAG.DE and 4GLD.DE have a correlation of 0.32, 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 0.19% for XAAG.DE.
XAAG.DE is categorized as Commodities, while 4GLD.DE is Gold. XAAG.DE tracks Bloomberg Commodity ex-Agriculture and Livestock, while 4GLD.DE tracks LBMA Gold Price. They also come from different issuers: Invesco and Deutsche Börse Commodities. Their fees differ too: 0.19% for XAAG.DE and 0.00% for 4GLD.DE.
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