8PSE.DE vs. ESGP.DE
8PSE.DE (Invesco Physical Gold (EUR Hedged) ETC) and ESGP.DE (Gold Miners Screened UCITS ETF) are both Gold funds - 8PSE.DE tracks the LBMA Gold Price PM (EUR Hedged) while ESGP.DE tracks the VettaFi Gold Miners Screened Index. Both are passively managed. Over the past 3 years, 8PSE.DE returned 23.05%/yr vs 10.79%/yr for ESGP.DE. At a 0.14 correlation, their price movements are largely independent. 8PSE.DE charges 0.34%/yr vs 0.60%/yr for ESGP.DE.
Performance
8PSE.DE vs. ESGP.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 8PSE.DE achieves a 86.30% return, which is significantly higher than ESGP.DE's 11.07% 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*
- —
ESGP.DE
- 1D
- 0.00%
- 1M
- 3.62%
- 6M
- 9.14%
- YTD
- 11.07%
- 1Y
- 15.42%
- 3Y*
- 10.79%
- 5Y*
- —
- 10Y*
- —
8PSE.DE vs. ESGP.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
8PSE.DE Invesco Physical Gold (EUR Hedged) ETC | 86.30% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ESGP.DE Gold Miners Screened UCITS ETF | 11.07% | 5.79% | 12.94% | 2.10% | -2.36% | 2.90% |
Correlation
The correlation between 8PSE.DE and ESGP.DE is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Aug 27, 2021 | 0.14 |
Over the past year, 8PSE.DE and ESGP.DE have become more correlated (0.35) than their long-term average of 0.14, meaning their price movements have been converging.
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Return for Risk
8PSE.DE vs. ESGP.DE — Risk / Return Rank
8PSE.DE
ESGP.DE
8PSE.DE vs. ESGP.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 Gold Miners Screened UCITS ETF (ESGP.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 | ESGP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | +0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.93 | 1.23 | +0.70 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 2.45 | -0.66 |
| Martin ratioReturn relative to average drawdown | 3.72 | 6.94 | -3.22 |
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Drawdowns
8PSE.DE vs. ESGP.DE - Drawdown Comparison
The maximum 8PSE.DE drawdown since its inception was -47.85%, which is greater than ESGP.DE's maximum drawdown of -20.50%. Use the drawdown chart below to compare losses from any high point for 8PSE.DE and ESGP.DE.
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Drawdown Indicators
| 8PSE.DE | ESGP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.85% | -20.50% | -27.35% |
Max Drawdown (1Y)Largest decline over 1 year | -47.85% | -6.31% | -41.54% |
Max Drawdown (3Y)Largest decline over 3 years | -47.85% | -20.50% | -27.35% |
Max Drawdown (5Y)Largest decline over 5 years | -47.85% | — | — |
Current DrawdownCurrent decline from peak | -23.96% | 0.00% | -23.96% |
Average DrawdownAverage peak-to-trough decline | -9.97% | -5.23% | -4.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.12% | 2.23% | +20.89% |
Volatility
8PSE.DE vs. ESGP.DE - Volatility Comparison
Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE) has a higher volatility of 7.46% compared to Gold Miners Screened UCITS ETF (ESGP.DE) at 2.19%. This indicates that 8PSE.DE's price experiences larger fluctuations and is considered to be riskier than ESGP.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 | ESGP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.46% | 2.19% | +5.27% |
Volatility (6M)Calculated over the trailing 6-month period | 22.87% | 9.02% | +13.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 150.23% | 11.58% | +138.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.07% | 14.44% | +52.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.45% | 14.44% | +47.01% |
8PSE.DE vs. ESGP.DE - Expense Ratio Comparison
8PSE.DE has a 0.34% expense ratio, which is lower than ESGP.DE's 0.60% expense ratio.
Dividends
8PSE.DE vs. ESGP.DE - Dividend Comparison
Neither 8PSE.DE nor ESGP.DE has paid dividends to shareholders.
Frequently Asked Questions
8PSE.DE and ESGP.DE have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 8PSE.DE is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.
8PSE.DE is cheaper with a 0.34% expense ratio, compared with 0.60% for ESGP.DE.
8PSE.DE tracks LBMA Gold Price PM (EUR Hedged), while ESGP.DE tracks VettaFi Gold Miners Screened Index. They also come from different issuers: Invesco and HANetf. Their fees differ too: 0.34% for 8PSE.DE and 0.60% for ESGP.DE.
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