8PSE.DE vs. ^STOXX

Last updated Jul 16, 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 13.25%/yr vs 7.08%/yr for ^STOXX. At a 0.13 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 86.30% return, which is significantly higher than ^STOXX's 8.32% return.

8PSE.DE

• 1D: 1.56%
• 1M: -6.56%
• 6M: -13.20%
• YTD: 86.30%
• 1Y: 86.30%
• 3Y*: 23.05%
• 5Y*: 13.25%
• 10Y*: —

^STOXX

• 1D: 0.17%
• 1M: 1.21%
• 6M: 4.99%
• YTD: 8.32%
• 1Y: 17.83%
• 3Y*: 11.69%
• 5Y*: 7.08%
• 10Y*: 6.63%

*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	86.30%	0.00%	0.00%	0.00%	0.00%	-1.85%	4.42%
^STOXX STOXX Europe 600 Index	8.32%	17.42%	5.39%	12.74%	-13.06%	22.10%	9.21%

Correlation

The correlation between 8PSE.DE and ^STOXX is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Jul 9, 2020	0.13

Over the past year, 8PSE.DE and ^STOXX have become more correlated (0.37) than their long-term average of 0.13, meaning their price movements have been converging.

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: 54
8PSE.DE Sharpe Ratio Rank: 20
8PSE.DE Sortino Ratio Rank: 79
8PSE.DE Omega Ratio Rank: 98
8PSE.DE Calmar Ratio Rank: 43
8PSE.DE Martin Ratio Rank: 31

^STOXX

^STOXX Risk / Return Rank: 53
^STOXX Sharpe Ratio Rank: 53
^STOXX Sortino Ratio Rank: 58
^STOXX Omega Ratio Rank: 61
^STOXX Calmar Ratio Rank: 46
^STOXX Martin Ratio Rank: 48

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	0.57	1.43	-0.86
Sortino ratio: Return per unit of downside risk	2.81	2.12	+0.69
Omega ratio: Gain probability vs. loss probability	1.93	1.27	+0.66
Calmar ratio: Return relative to maximum drawdown	1.79	1.84	-0.05
Martin ratio: Return relative to average drawdown	3.72	6.72	-3.00

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

The current 8PSE.DE Sharpe Ratio is 0.57, which is lower than the ^STOXX Sharpe Ratio of 1.43. 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 -47.85%, 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	-47.85%	-60.54%	+12.69%
Max Drawdown (1Y) Largest decline over 1 year	-47.85%	-9.56%	-38.29%
Max Drawdown (3Y) Largest decline over 3 years	-47.85%	-16.56%	-31.29%
Max Drawdown (5Y) Largest decline over 5 years	-47.85%	-22.55%	-25.30%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.55%	—
Current Drawdown Current decline from peak	-23.96%	-1.63%	-22.33%
Average Drawdown Average peak-to-trough decline	-9.97%	-14.55%	+4.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.12%	2.62%	+20.50%

Volatility

8PSE.DE vs. ^STOXX - Volatility Comparison

Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE) has a higher volatility of 7.46% compared to STOXX Europe 600 Index (^STOXX) at 3.16%. 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	7.46%	3.16%	+4.30%
Volatility (6M) Calculated over the trailing 6-month period	22.87%	10.44%	+12.43%
Volatility (1Y) Calculated over the trailing 1-year period	150.23%	12.33%	+137.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.07%	14.20%	+52.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.45%	15.13%	+46.32%

Frequently Asked Questions

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

8PSE.DE and ^STOXX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.