8PSE.DE vs. ^STOXX

Last updated Jun 5, 2026

8PSE.DE (Invesco Physical Gold (EUR Hedged) ETC) is Gold fund tracking the LBMA Gold Price PM (EUR Hedged), while ^STOXX (STOXX Europe 600 Index) is an index. Over the past 5 years, 8PSE.DE returned 15.46%/yr vs 6.72%/yr for ^STOXX. At a 0.15 correlation, their price movements are largely independent.

Performance

8PSE.DE vs. ^STOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE) and STOXX Europe 600 Index (^STOXX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, 8PSE.DE achieves a 0.15% return, which is significantly lower than ^STOXX's 6.82% return.

8PSE.DE

• 1D: 0.72%
• 1M: -4.73%
• YTD: 0.15%
• 6M: 2.95%
• 1Y: 26.72%
• 3Y*: 28.08%
• 5Y*: 15.46%
• 10Y*: —

^STOXX

• 1D: 1.88%
• 1M: 3.56%
• YTD: 6.82%
• 6M: 9.51%
• 1Y: 16.20%
• 3Y*: 10.98%
• 5Y*: 6.72%
• 10Y*: 7.05%

*Multi-year figures are annualized to reflect compound growth (CAGR)

8PSE.DE vs. ^STOXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
8PSE.DE Invesco Physical Gold (EUR Hedged) ETC	0.15%	62.78%	24.11%	10.00%	-2.18%	-5.81%	2.14%
^STOXX STOXX Europe 600 Index	6.82%	17.42%	5.39%	12.74%	-13.06%	22.10%	8.94%

Correlation

The correlation between 8PSE.DE and ^STOXX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Jul 15, 2020	0.15

The correlation between 8PSE.DE and ^STOXX shifts across timeframes, from 0.15 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

8PSE.DE vs. ^STOXX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

8PSE.DE

8PSE.DE Risk / Return Rank: 35
8PSE.DE Sharpe Ratio Rank: 11
8PSE.DE Sortino Ratio Rank: 37
8PSE.DE Omega Ratio Rank: 92
8PSE.DE Calmar Ratio Rank: 16
8PSE.DE Martin Ratio Rank: 20

^STOXX

^STOXX Risk / Return Rank: 44
^STOXX Sharpe Ratio Rank: 43
^STOXX Sortino Ratio Rank: 45
^STOXX Omega Ratio Rank: 45
^STOXX Calmar Ratio Rank: 40
^STOXX Martin Ratio Rank: 47

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

8PSE.DE vs. ^STOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE) and STOXX Europe 600 Index (^STOXX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	8PSE.DE	^STOXX	Difference
Sharpe ratio: Return per unit of total volatility	0.16	1.25	-1.09
Sortino ratio: Return per unit of downside risk	1.91	1.88	+0.03
Omega ratio: Gain probability vs. loss probability	1.60	1.23	+0.36
Calmar ratio: Return relative to maximum drawdown	0.56	1.61	-1.05
Martin ratio: Return relative to average drawdown	2.31	5.82	-3.50

8PSE.DE vs. ^STOXX - Sharpe Ratio Comparison

The current 8PSE.DE Sharpe Ratio is 0.16, which is lower than the ^STOXX Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of 8PSE.DE and ^STOXX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

8PSE.DE vs. ^STOXX - Drawdown Comparison

The maximum 8PSE.DE drawdown since its inception was -50.81%, smaller than the maximum ^STOXX drawdown of -60.54%. Use the drawdown chart below to compare losses from any high point for 8PSE.DE and ^STOXX.

Drawdown Indicators

	8PSE.DE	^STOXX	Difference
Max Drawdown Largest peak-to-trough decline	-50.81%	-60.54%	+9.73%
Max Drawdown (1Y) Largest decline over 1 year	-50.81%	-9.56%	-41.25%
Max Drawdown (3Y) Largest decline over 3 years	-50.81%	-16.56%	-34.25%
Max Drawdown (5Y) Largest decline over 5 years	-50.81%	-22.55%	-28.26%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.55%	—
Current Drawdown Current decline from peak	-16.31%	-0.10%	-16.21%
Average Drawdown Average peak-to-trough decline	-10.13%	-14.61%	+4.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.27%	2.68%	+9.59%

Volatility

8PSE.DE vs. ^STOXX - Volatility Comparison

Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE) has a higher volatility of 5.95% compared to STOXX Europe 600 Index (^STOXX) at 3.17%. This indicates that 8PSE.DE's price experiences larger fluctuations and is considered to be riskier than ^STOXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	8PSE.DE	^STOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.95%	3.17%	+2.78%
Volatility (6M) Calculated over the trailing 6-month period	71.01%	10.28%	+60.73%
Volatility (1Y) Calculated over the trailing 1-year period	181.73%	12.30%	+169.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	87.63%	14.22%	+73.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	81.03%	15.50%	+65.53%

Frequently Asked Questions

Can I hold both 8PSE.DE and ^STOXX in my portfolio?

8PSE.DE and ^STOXX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.