8PSG.DE vs. ZGLD.SW
8PSG.DE (Invesco Physical Gold ETC) and ZGLD.SW (Swisscanto (CH) Gold ETF EA CHF) are both exchange-traded funds - 8PSG.DE is a Gold fund tracking the LBMA Gold Price PM, while ZGLD.SW is a Precious Metals fund tracking the Gold Bullion. Both are passively managed. Over the past 10 years, 8PSG.DE returned 11.21%/yr vs 10.85%/yr for ZGLD.SW. A 0.76 correlation means they provide meaningful diversification when combined. 8PSG.DE charges 0.12%/yr vs 0.40%/yr for ZGLD.SW.
Performance
8PSG.DE vs. ZGLD.SW - Performance Comparison
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Different Trading Currencies
8PSG.DE is traded in EUR, while ZGLD.SW is traded in CHF. To make them comparable, the ZGLD.SW 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 ZGLD.SW's -5.15% return. Both investments have delivered pretty close results over the past 10 years, with 8PSG.DE having a 11.21% annualized return and ZGLD.SW not far behind at 10.85%.
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%
ZGLD.SW
- 1D
- 0.00%
- 1M
- -9.13%
- YTD
- -5.15%
- 6M
- -7.26%
- 1Y
- 22.93%
- 3Y*
- 25.51%
- 5Y*
- 18.18%
- 10Y*
- 10.85%
8PSG.DE vs. ZGLD.SW - 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% |
ZGLD.SW Swisscanto (CH) Gold ETF EA CHF | -5.15% | 47.27% | 33.31% | 9.80% | 5.50% | 3.73% | 13.11% | 20.89% | 2.25% | -1.82% |
Correlation
The correlation between 8PSG.DE and ZGLD.SW is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2009 | 0.76 |
The correlation between 8PSG.DE and ZGLD.SW shifts across timeframes, from 0.76 (all time) to 0.95 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
8PSG.DE vs. ZGLD.SW — Risk / Return Rank
8PSG.DE
ZGLD.SW
8PSG.DE vs. ZGLD.SW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold ETC (8PSG.DE) and Swisscanto (CH) Gold ETF EA CHF (ZGLD.SW). 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 | ZGLD.SW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.19 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.06 | 1.02 | +0.04 |
| Martin ratioReturn relative to average drawdown | 2.46 | 2.82 | -0.35 |
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Drawdowns
8PSG.DE vs. ZGLD.SW - Drawdown Comparison
The maximum 8PSG.DE drawdown since its inception was -54.21%, which is greater than ZGLD.SW's maximum drawdown of -37.03%. Use the drawdown chart below to compare losses from any high point for 8PSG.DE and ZGLD.SW.
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Drawdown Indicators
| 8PSG.DE | ZGLD.SW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.21% | -37.03% | -17.18% |
Max Drawdown (1Y)Largest decline over 1 year | -22.00% | -22.80% | +0.80% |
Max Drawdown (3Y)Largest decline over 3 years | -22.00% | -22.80% | +0.80% |
Max Drawdown (5Y)Largest decline over 5 years | -22.00% | -22.80% | +0.80% |
Max Drawdown (10Y)Largest decline over 10 years | -22.00% | -22.80% | +0.80% |
Current DrawdownCurrent decline from peak | -22.00% | -22.80% | +0.80% |
Average DrawdownAverage peak-to-trough decline | -23.97% | -12.38% | -11.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.48% | 8.23% | +1.25% |
Volatility
8PSG.DE vs. ZGLD.SW - Volatility Comparison
Invesco Physical Gold ETC (8PSG.DE) and Swisscanto (CH) Gold ETF EA CHF (ZGLD.SW) have volatilities of 7.99% and 8.07%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 8PSG.DE | ZGLD.SW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.99% | 8.07% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 21.34% | 21.68% | -0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.08% | 24.44% | +8.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.49% | 16.37% | +2.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.84% | 14.58% | +7.26% |
8PSG.DE vs. ZGLD.SW - Expense Ratio Comparison
8PSG.DE has a 0.12% expense ratio, which is lower than ZGLD.SW's 0.40% expense ratio.
Dividends
8PSG.DE vs. ZGLD.SW - Dividend Comparison
Neither 8PSG.DE nor ZGLD.SW has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, 8PSG.DE and ZGLD.SW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 0.40% for ZGLD.SW.
8PSG.DE is categorized as Gold, while ZGLD.SW is Precious Metals. 8PSG.DE tracks LBMA Gold Price PM, while ZGLD.SW tracks Gold Bullion. They also come from different issuers: Invesco and Swisscanto. Their fees differ too: 0.12% for 8PSG.DE and 0.40% for ZGLD.SW.
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