8PSE.DE vs. 8PSG.DE
8PSE.DE (Invesco Physical Gold (EUR Hedged) ETC) and 8PSG.DE (Invesco Physical Gold ETC) are both Gold funds from Invesco - 8PSE.DE tracks the LBMA Gold Price PM (EUR Hedged) while 8PSG.DE tracks the LBMA Gold Price PM. Both are passively managed. Over the past 5 years, 8PSE.DE returned 12.89%/yr vs 17.85%/yr for 8PSG.DE. At a 0.40 correlation, their price movements are largely independent. 8PSE.DE charges 0.34%/yr vs 0.12%/yr for 8PSG.DE.
Performance
8PSE.DE vs. 8PSG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 8PSE.DE achieves a 83.32% return, which is significantly higher than 8PSG.DE's -6.36% return.
8PSE.DE
- 1D
- -0.86%
- 1M
- -8.10%
- 6M
- -14.07%
- YTD
- 83.32%
- 1Y
- 83.32%
- 3Y*
- 22.39%
- 5Y*
- 12.89%
- 10Y*
- —
8PSG.DE
- 1D
- 0.00%
- 1M
- -6.67%
- 6M
- -11.46%
- YTD
- -6.36%
- 1Y
- 21.76%
- 3Y*
- 26.40%
- 5Y*
- 17.85%
- 10Y*
- 11.03%
8PSE.DE vs. 8PSG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
8PSE.DE Invesco Physical Gold (EUR Hedged) ETC | 83.32% | 0.00% | 0.00% | 0.00% | 0.00% | -1.85% | 4.42% |
8PSG.DE Invesco Physical Gold ETC | -6.36% | 48.98% | 44.76% | 0.00% | 8.62% | 3.81% | -4.39% |
Correlation
The correlation between 8PSE.DE and 8PSG.DE is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jul 9, 2020 | 0.40 |
Over the past year, 8PSE.DE and 8PSG.DE have become more correlated (0.77) than their long-term average of 0.40, meaning their price movements have been converging.
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Return for Risk
8PSE.DE vs. 8PSG.DE — Risk / Return Rank
8PSE.DE
8PSG.DE
8PSE.DE vs. 8PSG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE) and Invesco Physical Gold ETC (8PSG.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.
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 | 8PSG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | +1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.91 | 1.18 | +0.74 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 0.97 | +0.77 |
| Martin ratioReturn relative to average drawdown | 3.58 | 2.00 | +1.58 |
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Drawdowns
8PSE.DE vs. 8PSG.DE - Drawdown Comparison
The maximum 8PSE.DE drawdown since its inception was -47.85%, smaller than the maximum 8PSG.DE drawdown of -54.21%. Use the drawdown chart below to compare losses from any high point for 8PSE.DE and 8PSG.DE.
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Drawdown Indicators
| 8PSE.DE | 8PSG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.85% | -54.21% | +6.36% |
Max Drawdown (1Y)Largest decline over 1 year | -47.85% | -22.52% | -25.33% |
Max Drawdown (3Y)Largest decline over 3 years | -47.85% | -22.52% | -25.33% |
Max Drawdown (5Y)Largest decline over 5 years | -47.85% | -22.52% | -25.33% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.52% | — |
Current DrawdownCurrent decline from peak | -25.17% | -22.52% | -2.65% |
Average DrawdownAverage peak-to-trough decline | -9.99% | -23.96% | +13.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.23% | 10.88% | +12.35% |
Volatility
8PSE.DE vs. 8PSG.DE - Volatility Comparison
Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE) has a higher volatility of 7.40% compared to Invesco Physical Gold ETC (8PSG.DE) at 6.26%. This indicates that 8PSE.DE's price experiences larger fluctuations and is considered to be riskier than 8PSG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 8PSE.DE | 8PSG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.40% | 6.26% | +1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 22.89% | 21.14% | +1.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 150.25% | 33.35% | +116.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.07% | 18.60% | +48.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.42% | 21.87% | +39.55% |
8PSE.DE vs. 8PSG.DE - Expense Ratio Comparison
8PSE.DE has a 0.34% expense ratio, which is higher than 8PSG.DE's 0.12% expense ratio.
Dividends
8PSE.DE vs. 8PSG.DE - Dividend Comparison
Neither 8PSE.DE nor 8PSG.DE has paid dividends to shareholders.
Frequently Asked Questions
8PSE.DE and 8PSG.DE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 8PSG.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
8PSG.DE is cheaper with a 0.12% expense ratio, compared with 0.34% for 8PSE.DE.
8PSE.DE tracks LBMA Gold Price PM (EUR Hedged), while 8PSG.DE tracks LBMA Gold Price PM. Their fees differ too: 0.34% for 8PSE.DE and 0.12% for 8PSG.DE.
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