BCOG.L vs. SGLN.L
BCOG.L (L&G All Commodities UCITS ETF) and SGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - BCOG.L is a Commodities fund tracking the Bloomberg Commodity, while SGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 5 years, BCOG.L returned 12.42%/yr vs 20.12%/yr for SGLN.L. At a 0.32 correlation, their price movements are largely independent. BCOG.L charges 0.15%/yr vs 0.12%/yr for SGLN.L.
Performance
BCOG.L vs. SGLN.L - Performance Comparison
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Returns By Period
In the year-to-date period, BCOG.L achieves a 24.98% return, which is significantly higher than SGLN.L's 3.89% return.
BCOG.L
- 1D
- -1.35%
- 1M
- -2.79%
- YTD
- 24.98%
- 6M
- 23.49%
- 1Y
- 38.11%
- 3Y*
- 12.52%
- 5Y*
- 12.42%
- 10Y*
- —
SGLN.L
- 1D
- 0.70%
- 1M
- -1.36%
- YTD
- 3.89%
- 6M
- 5.42%
- 1Y
- 33.75%
- 3Y*
- 28.17%
- 5Y*
- 20.12%
- 10Y*
- 14.27%
BCOG.L vs. SGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BCOG.L L&G All Commodities UCITS ETF | 24.98% | 8.16% | 6.13% | -12.32% | 29.36% | 29.04% | -6.24% | 1.82% | -4.64% | 1.28% |
SGLN.L iShares Physical Gold ETC | 3.89% | 53.66% | 28.20% | 7.24% | 11.84% | -2.57% | 19.62% | 14.63% | 4.36% | 1.23% |
Correlation
The correlation between BCOG.L and SGLN.L is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2017 | 0.32 |
The correlation between BCOG.L and SGLN.L shifts across timeframes, from 0.21 (1 year) to 0.33 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
BCOG.L vs. SGLN.L — Risk / Return Rank
BCOG.L
SGLN.L
BCOG.L vs. SGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G All Commodities UCITS ETF (BCOG.L) and iShares Physical Gold ETC (SGLN.L). 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.
| BCOG.L | SGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.29 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.43 | 1.91 | +2.51 |
| Martin ratioReturn relative to average drawdown | 10.23 | 5.05 | +5.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BCOG.L | SGLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.05 | 1.45 | +0.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | 1.23 | -0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.90 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.55 | -0.06 |
Drawdowns
BCOG.L vs. SGLN.L - Drawdown Comparison
The maximum BCOG.L drawdown since its inception was -28.15%, smaller than the maximum SGLN.L drawdown of -41.71%. Use the drawdown chart below to compare losses from any high point for BCOG.L and SGLN.L.
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Drawdown Indicators
| BCOG.L | SGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.15% | -41.71% | +13.56% |
Max Drawdown (1Y)Largest decline over 1 year | -8.57% | -17.57% | +9.00% |
Max Drawdown (3Y)Largest decline over 3 years | -14.48% | -17.57% | +3.09% |
Max Drawdown (5Y)Largest decline over 5 years | -27.76% | -17.57% | -10.19% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.91% | — |
Current DrawdownCurrent decline from peak | -5.16% | -16.01% | +10.85% |
Average DrawdownAverage peak-to-trough decline | -11.67% | -14.76% | +3.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.72% | 6.67% | -2.95% |
Volatility
BCOG.L vs. SGLN.L - Volatility Comparison
L&G All Commodities UCITS ETF (BCOG.L) has a higher volatility of 6.06% compared to iShares Physical Gold ETC (SGLN.L) at 5.08%. This indicates that BCOG.L's price experiences larger fluctuations and is considered to be riskier than SGLN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCOG.L | SGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.06% | 5.08% | +0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 15.89% | 20.08% | -4.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.51% | 23.19% | -4.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.89% | 16.30% | +0.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.71% | 15.78% | -0.07% |
BCOG.L vs. SGLN.L - Expense Ratio Comparison
BCOG.L has a 0.15% expense ratio, which is higher than SGLN.L's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BCOG.L vs. SGLN.L - Dividend Comparison
Neither BCOG.L nor SGLN.L has paid dividends to shareholders.
Frequently Asked Questions
BCOG.L and SGLN.L have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGLN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGLN.L is cheaper with a 0.12% expense ratio, compared with 0.15% for BCOG.L.
BCOG.L is categorized as Commodities, while SGLN.L is Gold. BCOG.L tracks Bloomberg Commodity, while SGLN.L tracks LBMA Gold Price. They also come from different issuers: Legal & General and iShares. Their fees differ too: 0.15% for BCOG.L and 0.12% for SGLN.L.
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