8PSE.DE vs. SYBC.DE

Last updated Aug 6, 2026

8PSE.DE (Invesco Physical Gold (EUR Hedged) ETC) and SYBC.DE (State Street SPDR Bloomberg Euro Corporate Bond UCITS ETF (Dist)) are both exchange-traded funds - 8PSE.DE is a Gold fund tracking the LBMA Gold Price PM (EUR Hedged), while SYBC.DE is a European Corporate Bonds fund tracking the Bloomberg Euro Corporate Bond Index. Both are passively managed. Over the past 5 years, 8PSE.DE returned 13.22%/yr vs -0.20%/yr for SYBC.DE. Their 0.12 correlation means their historical movements had little consistent relationship. 8PSE.DE charges 0.34%/yr vs 0.12%/yr for SYBC.DE.

Performance

8PSE.DE vs. SYBC.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE) and State Street SPDR Bloomberg Euro Corporate Bond UCITS ETF (Dist) (SYBC.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, 8PSE.DE achieves a 86.04% return, which is significantly higher than SYBC.DE's 0.79% return.

8PSE.DE

• 1D: 1.13%
• 1M: -1.90%
• 6M: -18.44%
• YTD: 86.04%
• 1Y: 86.04%
• 3Y*: 22.99%
• 5Y*: 13.22%
• 10Y*: —
• ALL TIME*: 11.22%

SYBC.DE

• 1D: 0.06%
• 1M: -0.41%
• 6M: 0.11%
• YTD: 0.79%
• 1Y: 1.23%
• 3Y*: 4.39%
• 5Y*: -0.20%
• 10Y*: 0.76%
• ALL TIME*: 2.31%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
8PSE.DE Invesco Physical Gold (EUR Hedged) ETC	€631.73K	€496.52K	€492.24K
SYBC.DE State Street SPDR Bloomberg Euro Corporate Bond UCITS ETF (Dist)	€189.55K	€190.11K	€147.52K

8PSE.DE vs. SYBC.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
8PSE.DE Invesco Physical Gold (EUR Hedged) ETC	86.04%	0.00%	0.00%	0.00%	0.00%	-1.85%	4.42%
SYBC.DE State Street SPDR Bloomberg Euro Corporate Bond UCITS ETF (Dist)	0.79%	3.07%	4.28%	7.58%	-13.73%	-1.04%	3.54%

Correlation

The correlation between 8PSE.DE and SYBC.DE is 0.29, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.29
Correlation (3Y) Balances recent behavior with more history.	0.16
Correlation (5Y) Shows whether the relationship held over a longer period.	0.11
Correlation (All Time) Calculated using the full available price history since Jul 9, 2020	0.12

The correlation between 8PSE.DE and SYBC.DE shifts across timeframes, from 0.11 (5 years) to 0.29 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

8PSE.DE vs. SYBC.DE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

8PSE.DE

8PSE.DE Risk / Return Rank: 55
8PSE.DE Sharpe Ratio Rank: 22
8PSE.DE Sortino Ratio Rank: 77
8PSE.DE Omega Ratio Rank: 98
8PSE.DE Calmar Ratio Rank: 44
8PSE.DE Martin Ratio Rank: 33

SYBC.DE

SYBC.DE Risk / Return Rank: 17
SYBC.DE Sharpe Ratio Rank: 17
SYBC.DE Sortino Ratio Rank: 15
SYBC.DE Omega Ratio Rank: 16
SYBC.DE Calmar Ratio Rank: 17
SYBC.DE Martin Ratio Rank: 19

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

8PSE.DE vs. SYBC.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 State Street SPDR Bloomberg Euro Corporate Bond UCITS ETF (Dist) (SYBC.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	SYBC.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.57	0.36	+0.21
Sortino ratio: Return per unit of downside risk	2.81	0.54	+2.27
Omega ratio: Gain probability vs. loss probability	1.89	1.07	+0.82
Calmar ratio: Return relative to maximum drawdown	1.79	0.46	+1.33
Martin ratio: Return relative to average drawdown	3.59	1.45	+2.14

8PSE.DE vs. SYBC.DE - Sharpe Ratio Comparison

The current 8PSE.DE Sharpe Ratio is 0.57, which is higher than the SYBC.DE Sharpe Ratio of 0.36. The chart below compares the historical Sharpe Ratios of 8PSE.DE and SYBC.DE, 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. SYBC.DE - Drawdown Comparison

The maximum 8PSE.DE drawdown since its inception was -47.85%, which is greater than SYBC.DE's maximum drawdown of -17.59%. Use the drawdown chart below to compare losses from any high point for 8PSE.DE and SYBC.DE.

Drawdown Indicators

	8PSE.DE	SYBC.DE	Difference
Max Drawdown Largest peak-to-trough decline	-47.85%	-17.59%	-30.26%
Max Drawdown (1Y) Largest decline over 1 year	-47.85%	-2.68%	-45.17%
Max Drawdown (3Y) Largest decline over 3 years	-47.85%	-2.68%	-45.17%
Max Drawdown (5Y) Largest decline over 5 years	-47.85%	-17.42%	-30.43%
Max Drawdown (10Y) Largest decline over 10 years	—	-17.59%	—
Current Drawdown Current decline from peak	-24.06%	-1.21%	-22.85%
Average Drawdown Average peak-to-trough decline	-10.11%	-3.08%	-7.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.88%	0.84%	+23.04%

Volatility

8PSE.DE vs. SYBC.DE - Volatility Comparison

Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE) has a higher volatility of 6.93% compared to State Street SPDR Bloomberg Euro Corporate Bond UCITS ETF (Dist) (SYBC.DE) at 1.15%. This indicates that 8PSE.DE's price experiences larger fluctuations and is considered to be riskier than SYBC.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	8PSE.DE	SYBC.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.93%	1.15%	+5.78%
Volatility (6M) Calculated over the trailing 6-month period	19.96%	3.14%	+16.82%
Volatility (1Y) Calculated over the trailing 1-year period	150.32%	3.42%	+146.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	67.11%	4.44%	+62.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.19%	4.57%	+56.62%

8PSE.DE vs. SYBC.DE - Expense Ratio Comparison

8PSE.DE has a 0.34% expense ratio, which is higher than SYBC.DE's 0.12% expense ratio.

Dividends

8PSE.DE vs. SYBC.DE - Dividend Comparison

8PSE.DE has not paid dividends to shareholders, while SYBC.DE's dividend yield for the trailing twelve months is around 3.32%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
8PSE.DE Invesco Physical Gold (EUR Hedged) ETC	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SYBC.DE State Street SPDR Bloomberg Euro Corporate Bond UCITS ETF (Dist)	3.32%	3.25%	3.08%	2.13%	0.96%	0.89%	0.86%	0.92%	0.89%	1.21%	1.36%	1.71%

Frequently Asked Questions

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

8PSE.DE and SYBC.DE have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, 8PSE.DE or SYBC.DE?

On fees, SYBC.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, 8PSE.DE or SYBC.DE?

SYBC.DE is cheaper with a 0.12% expense ratio, compared with 0.34% for 8PSE.DE.

What is the main difference between 8PSE.DE and SYBC.DE?

8PSE.DE is categorized as Gold, while SYBC.DE is European Corporate Bonds. 8PSE.DE tracks LBMA Gold Price PM (EUR Hedged), while SYBC.DE tracks Bloomberg Euro Corporate Bond Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.34% for 8PSE.DE and 0.12% for SYBC.DE.