AU vs. SGOL

Last updated Jun 5, 2026

AU (AngloGold Ashanti Limited) is a stock, while SGOL (abrdn Physical Gold Shares ETF) is Gold fund tracking the LBMA Gold Price PM ($/ozt). Over the past 10 years, AU returned 21.39%/yr vs 13.40%/yr for SGOL. A 0.66 correlation means they provide meaningful diversification when combined.

Performance

AU vs. SGOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AngloGold Ashanti Limited (AU) and abrdn Physical Gold Shares ETF (SGOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AU achieves a 11.23% return, which is significantly higher than SGOL's 3.85% return. Over the past 10 years, AU has outperformed SGOL with an annualized return of 21.39%, while SGOL has yielded a comparatively lower 13.40% annualized return.

AU

• 1D: 2.58%
• 1M: 2.63%
• YTD: 11.23%
• 6M: 13.77%
• 1Y: 110.84%
• 3Y*: 60.31%
• 5Y*: 35.56%
• 10Y*: 21.39%

SGOL

• 1D: 0.85%
• 1M: -1.66%
• YTD: 3.85%
• 6M: 6.30%
• 1Y: 32.57%
• 3Y*: 31.48%
• 5Y*: 18.60%
• 10Y*: 13.40%

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

AU vs. SGOL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AU AngloGold Ashanti Limited	11.23%	288.18%	25.43%	-2.68%	-5.09%	-4.87%	1.90%	78.89%	23.96%	-2.23%
SGOL abrdn Physical Gold Shares ETF	3.85%	63.99%	26.90%	12.99%	-0.51%	-3.94%	25.03%	18.21%	-1.94%	12.86%

Correlation

The correlation between AU and SGOL is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Sep 10, 2009	0.66

The correlation between AU and SGOL has been stable across timeframes, ranging from 0.66 to 0.71 - a consistent structural relationship.

Return for Risk

AU vs. SGOL — Risk / Return Rank

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

AU

AU Risk / Return Rank: 83
AU Sharpe Ratio Rank: 87
AU Sortino Ratio Rank: 80
AU Omega Ratio Rank: 80
AU Calmar Ratio Rank: 83
AU Martin Ratio Rank: 85

SGOL

SGOL Risk / Return Rank: 34
SGOL Sharpe Ratio Rank: 36
SGOL Sortino Ratio Rank: 31
SGOL Omega Ratio Rank: 39
SGOL Calmar Ratio Rank: 35
SGOL Martin Ratio Rank: 30

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.

AU vs. SGOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AngloGold Ashanti Limited (AU) and abrdn Physical Gold Shares ETF (SGOL). 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.

	AU	SGOL	Difference
Sharpe ratio: Return per unit of total volatility	1.95	1.24	+0.71
Sortino ratio: Return per unit of downside risk	2.32	1.64	+0.68
Omega ratio: Gain probability vs. loss probability	1.30	1.25	+0.06
Calmar ratio: Return relative to maximum drawdown	3.05	1.71	+1.34
Martin ratio: Return relative to average drawdown	8.50	4.20	+4.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AU vs. SGOL - Sharpe Ratio Comparison

The current AU Sharpe Ratio is 1.95, which is higher than the SGOL Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of AU and SGOL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AU	SGOL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.95	1.24	+0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	1.05	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	0.84	-0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.55	-0.40

Drawdowns

AU vs. SGOL - Drawdown Comparison

The maximum AU drawdown since its inception was -90.12%, which is greater than SGOL's maximum drawdown of -45.51%. Use the drawdown chart below to compare losses from any high point for AU and SGOL.

Drawdown Indicators

	AU	SGOL	Difference
Max Drawdown Largest peak-to-trough decline	-90.12%	-45.51%	-44.61%
Max Drawdown (1Y) Largest decline over 1 year	-36.59%	-19.14%	-17.45%
Max Drawdown (3Y) Largest decline over 3 years	-38.81%	-19.14%	-19.67%
Max Drawdown (5Y) Largest decline over 5 years	-51.75%	-20.92%	-30.83%
Max Drawdown (10Y) Largest decline over 10 years	-67.91%	-21.56%	-46.35%
Current Drawdown Current decline from peak	-26.04%	-17.02%	-9.02%
Average Drawdown Average peak-to-trough decline	-46.09%	-18.41%	-27.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.09%	7.78%	+5.31%

Volatility

AU vs. SGOL - Volatility Comparison

AngloGold Ashanti Limited (AU) has a higher volatility of 19.95% compared to abrdn Physical Gold Shares ETF (SGOL) at 5.47%. This indicates that AU's price experiences larger fluctuations and is considered to be riskier than SGOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AU	SGOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.95%	5.47%	+14.48%
Volatility (6M) Calculated over the trailing 6-month period	44.80%	22.94%	+21.86%
Volatility (1Y) Calculated over the trailing 1-year period	57.08%	26.32%	+30.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.85%	17.88%	+30.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.65%	15.91%	+33.74%

Dividends

AU vs. SGOL - Dividend Comparison

AU's dividend yield for the trailing twelve months is around 4.99%, while SGOL has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AU AngloGold Ashanti Limited	4.99%	2.96%	1.78%	1.14%	2.26%	2.58%	0.49%	0.30%	0.48%	0.93%
SGOL abrdn Physical Gold Shares ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AU and SGOL in my portfolio?

AU and SGOL have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AU or SGOL?

AU has higher volatility (19.95%) compared to SGOL (5.47%). In terms of maximum drawdown, AU dropped -90.12% vs SGOL's -45.51%.

Which has better risk-adjusted returns?

AU currently has the higher Sharpe Ratio (1.95 vs 1.24), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.