XIEE.DE vs. ETL2.DE
XIEE.DE (Xtrackers MSCI Europe UCITS ETF) and ETL2.DE (L&G Longer Dated All Commodities UCITS ETF) are both exchange-traded funds - XIEE.DE is a Europe Equities fund tracking the MSCI Europe, while ETL2.DE is a Commodities fund tracking the Bloomberg Commodity 3 Month Forward. Both are passively managed. Over the past 10 years, XIEE.DE returned 9.16%/yr vs 8.17%/yr for ETL2.DE. At a 0.24 correlation, their price movements are largely independent. XIEE.DE charges 0.12%/yr vs 0.30%/yr for ETL2.DE.
Performance
XIEE.DE vs. ETL2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XIEE.DE achieves a 7.68% return, which is significantly lower than ETL2.DE's 18.23% return. Over the past 10 years, XIEE.DE has outperformed ETL2.DE with an annualized return of 9.16%, while ETL2.DE has yielded a comparatively lower 8.17% annualized return.
XIEE.DE
- 1D
- 0.61%
- 1M
- 3.33%
- YTD
- 7.68%
- 6M
- 9.90%
- 1Y
- 16.12%
- 3Y*
- 13.74%
- 5Y*
- 9.99%
- 10Y*
- 9.16%
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%
XIEE.DE vs. ETL2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XIEE.DE Xtrackers MSCI Europe UCITS ETF | 7.68% | 20.34% | 8.08% | 15.72% | -9.15% | 24.96% | -3.13% | 27.82% | -11.03% | 10.26% |
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% | -9.85% |
Correlation
The correlation between XIEE.DE and ETL2.DE is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Oct 15, 2015 | 0.24 |
The correlation between XIEE.DE and ETL2.DE shifts across timeframes, from -0.15 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XIEE.DE vs. ETL2.DE — Risk / Return Rank
XIEE.DE
ETL2.DE
XIEE.DE vs. ETL2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Europe UCITS ETF (XIEE.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.
| XIEE.DE | ETL2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.33 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 3.59 | -1.92 |
| Martin ratioReturn relative to average drawdown | 6.35 | 8.20 | -1.84 |
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
| XIEE.DE | ETL2.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 1.87 | -0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.70 | 0.84 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.59 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.25 | +0.27 |
Drawdowns
XIEE.DE vs. ETL2.DE - Drawdown Comparison
The maximum XIEE.DE drawdown since its inception was -35.51%, smaller than the maximum ETL2.DE drawdown of -47.04%. Use the drawdown chart below to compare losses from any high point for XIEE.DE and ETL2.DE.
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Drawdown Indicators
| XIEE.DE | ETL2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.51% | -47.04% | +11.53% |
Max Drawdown (1Y)Largest decline over 1 year | -9.61% | -7.90% | -1.71% |
Max Drawdown (3Y)Largest decline over 3 years | -16.52% | -15.06% | -1.46% |
Max Drawdown (5Y)Largest decline over 5 years | -19.30% | -23.27% | +3.97% |
Max Drawdown (10Y)Largest decline over 10 years | -35.51% | -26.50% | -9.01% |
Current DrawdownCurrent decline from peak | -1.61% | -3.57% | +1.96% |
Average DrawdownAverage peak-to-trough decline | -5.02% | -21.90% | +16.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.53% | 3.46% | -0.93% |
Volatility
XIEE.DE vs. ETL2.DE - Volatility Comparison
The current volatility for Xtrackers MSCI Europe UCITS ETF (XIEE.DE) is 4.32%, while L&G Longer Dated All Commodities UCITS ETF (ETL2.DE) has a volatility of 4.60%. This indicates that XIEE.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
| XIEE.DE | ETL2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.32% | 4.60% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 10.51% | 12.74% | -2.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.72% | 15.15% | -2.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.13% | 15.44% | -1.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 13.69% | +1.85% |
XIEE.DE vs. ETL2.DE - Expense Ratio Comparison
XIEE.DE has a 0.12% expense ratio, which is lower than ETL2.DE's 0.30% expense ratio.
Dividends
XIEE.DE vs. ETL2.DE - Dividend Comparison
XIEE.DE's dividend yield for the trailing twelve months is around 2.43%, while ETL2.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
XIEE.DE Xtrackers MSCI Europe UCITS ETF | 2.43% | 2.49% | 3.26% | 2.85% | 5.70% | 1.50% | 3.74% | 0.30% | 3.19% | 0.92% | 0.09% |
Frequently Asked Questions
XIEE.DE and ETL2.DE have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XIEE.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XIEE.DE is cheaper with a 0.12% expense ratio, compared with 0.30% for ETL2.DE.
XIEE.DE is categorized as Europe Equities, while ETL2.DE is Commodities. XIEE.DE tracks MSCI Europe, while ETL2.DE tracks Bloomberg Commodity 3 Month Forward. They also come from different issuers: Xtrackers and Legal & General. Their fees differ too: 0.12% for XIEE.DE and 0.30% for ETL2.DE.
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