8PSG.DE vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco Physical Gold A (8PSG.DE) and S&P 500 Index (^GSPC).

8PSG.DE is a passively managed fund by Invesco that tracks the performance of the Gold. It was launched on Jun 24, 2009.

Performance

8PSG.DE vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco Physical Gold A (8PSG.DE) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

8PSG.DE vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
8PSG.DE Invesco Physical Gold A	9.95%	48.98%	34.29%	9.43%	7.00%	3.81%	6.88%
^GSPC S&P 500 Index	-2.47%	2.58%	31.45%	20.51%	-14.45%	36.38%	10.76%

Different Trading Currencies

8PSG.DE is traded in EUR, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, 8PSG.DE achieves a 9.95% return, which is significantly higher than ^GSPC's -2.47% return.

8PSG.DE

• 1D: 2.84%
• 1M: -9.03%
• YTD: 9.95%
• 6M: 24.90%
• 1Y: 42.07%
• 3Y*: 31.10%
• 5Y*: 22.74%
• 10Y*: —

^GSPC

• 1D: 0.61%
• 1M: -3.45%
• YTD: -2.47%
• 6M: -0.63%
• 1Y: 8.91%
• 3Y*: 14.47%
• 5Y*: 10.74%
• 10Y*: 12.07%

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

Return for Risk

8PSG.DE vs. ^GSPC — Risk / Return Rank

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

8PSG.DE

8PSG.DE Risk / Return Rank: 83
8PSG.DE Sharpe Ratio Rank: 85
8PSG.DE Sortino Ratio Rank: 83
8PSG.DE Omega Ratio Rank: 82
8PSG.DE Calmar Ratio Rank: 83
8PSG.DE Martin Ratio Rank: 82

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

8PSG.DE vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold A (8PSG.DE) and S&P 500 Index (^GSPC). 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.

	8PSG.DE	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	1.76	0.43	+1.33
Sortino ratio Return per unit of downside risk	2.25	0.73	+1.52
Omega ratio Gain probability vs. loss probability	1.33	1.12	+0.22
Calmar ratio Return relative to maximum drawdown	2.58	0.66	+1.92
Martin ratio Return relative to average drawdown	9.82	2.77	+7.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

8PSG.DE vs. ^GSPC - Sharpe Ratio Comparison

The current 8PSG.DE Sharpe Ratio is 1.76, which is higher than the ^GSPC Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of 8PSG.DE and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	8PSG.DE	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.76	0.43	+1.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.42	0.64	+0.78
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.16	0.45	+0.71

Correlation

The correlation between 8PSG.DE and ^GSPC is 0.02, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

8PSG.DE vs. ^GSPC - Drawdown Comparison

The maximum 8PSG.DE drawdown since its inception was -18.33%, smaller than the maximum ^GSPC drawdown of -53.11%. Use the drawdown chart below to compare losses from any high point for 8PSG.DE and ^GSPC.

Drawdown Indicators

	8PSG.DE	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-18.33%	-56.78%	+38.45%
Max Drawdown (1Y) Largest decline over 1 year	-16.55%	-12.14%	-4.41%
Max Drawdown (5Y) Largest decline over 5 years	-16.55%	-25.43%	+8.88%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.92%	—
Current Drawdown Current decline from peak	-9.03%	-5.78%	-3.25%
Average Drawdown Average peak-to-trough decline	-5.86%	-10.75%	+4.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.36%	2.60%	+1.76%

Volatility

8PSG.DE vs. ^GSPC - Volatility Comparison

Invesco Physical Gold A (8PSG.DE) has a higher volatility of 11.24% compared to S&P 500 Index (^GSPC) at 4.42%. This indicates that 8PSG.DE's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	8PSG.DE	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.24%	4.42%	+6.82%
Volatility (6M) Calculated over the trailing 6-month period	21.09%	9.93%	+11.16%
Volatility (1Y) Calculated over the trailing 1-year period	23.81%	20.69%	+3.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.82%	16.81%	-0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.08%	18.63%	-2.55%