8PSG.DE vs. GLDI
8PSG.DE (Invesco Physical Gold ETC) and GLDI (UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033) are both Gold funds - 8PSG.DE tracks the LBMA Gold Price PM while GLDI tracks the Credit Suisse NASDAQ Gold FLOWS 103 Index. Both are passively managed. Over the past 10 years, 8PSG.DE returned 11.21%/yr vs 7.27%/yr for GLDI. A 0.57 correlation means they provide meaningful diversification when combined. 8PSG.DE charges 0.12%/yr vs 0.65%/yr for GLDI.
Performance
8PSG.DE vs. GLDI - Performance Comparison
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Different Trading Currencies
8PSG.DE is traded in EUR, while GLDI is traded in USD. To make them comparable, the GLDI 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 -5.74% return, which is significantly lower than GLDI's -3.21% return. Over the past 10 years, 8PSG.DE has outperformed GLDI with an annualized return of 11.21%, while GLDI has yielded a comparatively lower 7.27% annualized return.
8PSG.DE
- 1D
- 0.00%
- 1M
- -8.94%
- YTD
- -5.74%
- 6M
- -6.86%
- 1Y
- 23.34%
- 3Y*
- 26.68%
- 5Y*
- 18.68%
- 10Y*
- 11.21%
GLDI
- 1D
- 0.90%
- 1M
- -6.84%
- YTD
- -3.21%
- 6M
- -3.98%
- 1Y
- 13.55%
- 3Y*
- 14.98%
- 5Y*
- 11.53%
- 10Y*
- 7.27%
8PSG.DE vs. GLDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
8PSG.DE Invesco Physical Gold ETC | -5.74% | 48.98% | 44.76% | 0.00% | 8.62% | 3.81% | 12.94% | 20.91% | 2.90% | -1.90% |
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | -3.21% | 18.31% | 25.54% | 5.67% | 5.02% | 3.80% | 13.32% | 16.98% | 4.13% | -4.45% |
Correlation
The correlation between 8PSG.DE and GLDI is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2013 | 0.57 |
The correlation between 8PSG.DE and GLDI has been stable across timeframes, ranging from 0.53 to 0.63 - a consistent structural relationship.
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Return for Risk
8PSG.DE vs. GLDI — Risk / Return Rank
8PSG.DE
GLDI
8PSG.DE vs. GLDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold ETC (8PSG.DE) and UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI). 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.
| 8PSG.DE | GLDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.19 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.06 | 0.99 | +0.07 |
| Martin ratioReturn relative to average drawdown | 2.46 | 3.10 | -0.64 |
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Drawdowns
8PSG.DE vs. GLDI - Drawdown Comparison
The maximum 8PSG.DE drawdown since its inception was -54.21%, which is greater than GLDI's maximum drawdown of -27.73%. Use the drawdown chart below to compare losses from any high point for 8PSG.DE and GLDI.
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Drawdown Indicators
| 8PSG.DE | GLDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.21% | -27.73% | -26.48% |
Max Drawdown (1Y)Largest decline over 1 year | -22.00% | -13.78% | -8.22% |
Max Drawdown (3Y)Largest decline over 3 years | -22.00% | -13.78% | -8.22% |
Max Drawdown (5Y)Largest decline over 5 years | -22.00% | -13.78% | -8.22% |
Max Drawdown (10Y)Largest decline over 10 years | -22.00% | -16.80% | -5.20% |
Current DrawdownCurrent decline from peak | -22.00% | -13.01% | -8.99% |
Average DrawdownAverage peak-to-trough decline | -23.97% | -8.81% | -15.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.48% | 4.37% | +5.11% |
Volatility
8PSG.DE vs. GLDI - Volatility Comparison
Invesco Physical Gold ETC (8PSG.DE) has a higher volatility of 7.99% compared to UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) at 6.91%. This indicates that 8PSG.DE's price experiences larger fluctuations and is considered to be riskier than GLDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 8PSG.DE | GLDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.99% | 6.91% | +1.08% |
Volatility (6M)Calculated over the trailing 6-month period | 21.34% | 14.11% | +7.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.08% | 15.45% | +17.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.49% | 11.36% | +7.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.84% | 11.34% | +10.50% |
8PSG.DE vs. GLDI - Expense Ratio Comparison
8PSG.DE has a 0.12% expense ratio, which is lower than GLDI's 0.65% expense ratio.
Dividends
8PSG.DE vs. GLDI - Dividend Comparison
8PSG.DE has not paid dividends to shareholders, while GLDI's dividend yield for the trailing twelve months is around 27.21%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
8PSG.DE Invesco Physical Gold 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% |
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | 27.21% | 16.15% | 10.45% | 10.02% | 13.73% | 10.65% | 14.25% | 7.25% | 5.33% | 7.77% | 17.26% | 10.07% |
Frequently Asked Questions
8PSG.DE and GLDI have a correlation of 0.63, 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 0.65% for GLDI.
8PSG.DE tracks LBMA Gold Price PM, while GLDI tracks Credit Suisse NASDAQ Gold FLOWS 103 Index. They also come from different issuers: Invesco and UBS. Their fees differ too: 0.12% for 8PSG.DE and 0.65% for GLDI.
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