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BNP.PA vs. IGLN.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BNP.PA vs. IGLN.L

Last updated Jun 13, 2026

BNP.PA (BNP Paribas SA) is a stock, while IGLN.L (iShares Physical Gold ETC) is Gold fund tracking the LBMA Gold Price. Over the past 10 years, BNP.PA returned 14.74%/yr vs 12.09%/yr for IGLN.L. At a correlation of -0.09, they often move in opposite directions.

Performance

BNP.PA vs. IGLN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in BNP Paribas SA (BNP.PA) and iShares Physical Gold ETC (IGLN.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

BNP.PA is traded in EUR, while IGLN.L is traded in USD. To make them comparable, the IGLN.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, BNP.PA achieves a 23.23% return, which is significantly higher than IGLN.L's -0.66% return. Over the past 10 years, BNP.PA has outperformed IGLN.L with an annualized return of 14.74%, while IGLN.L has yielded a comparatively lower 12.09% annualized return.

BNP.PA

1D
5.17%
1M
8.18%
YTD
23.23%
6M
27.49%
1Y
36.77%
3Y*
27.31%
5Y*
19.64%
10Y*
14.74%

IGLN.L

1D
3.46%
1M
-9.23%
YTD
-0.66%
6M
-0.08%
1Y
22.88%
3Y*
26.36%
5Y*
18.51%
10Y*
12.09%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BNP.PA vs. IGLN.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
BNP.PA
BNP Paribas SA		23.23%50.14%0.99%25.73%-5.95%47.86%-18.40%43.64%-33.06%7.17%
IGLN.L
iShares Physical Gold ETC		-0.66%45.35%34.46%10.04%6.10%3.15%13.92%20.97%3.30%-2.04%

Correlation

The correlation between BNP.PA and IGLN.L is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.13

Correlation (3Y)
Calculated over the trailing 3-year period

0.08

Correlation (5Y)
Calculated over the trailing 5-year period

-0.03

Correlation (10Y)
Calculated over the trailing 10-year period

-0.11

Correlation (All Time)
Calculated using the full available price history since Apr 8, 2011

-0.09

The correlation between BNP.PA and IGLN.L shifts across timeframes, from -0.11 (10 years) to 0.13 (1 year), reflecting how their relationship changes across market environments.

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BNP Paribas SA

iShares Physical Gold ETC

Often compared with BNP.PA:
BNP.PA vs. GLE.PABNP.PA vs. JPMBNP.PA vs. VOOBNP.PA vs. AMUN.PABNP.PA vs. CS.PABNP.PA vs. SPYBNP.PA vs. CRARY
Often compared with IGLN.L:
IGLN.L vs. SGLN.LIGLN.L vs. GLDIGLN.L vs. XAUUSD=XIGLN.L vs. GBSP.LIGLN.L vs. XSFN.LIGLN.L vs. EGLN.LIGLN.L vs. SPY

Return for Risk

BNP.PA vs. IGLN.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BNP.PA
BNP.PA Risk / Return Rank: 7474
Overall Rank
BNP.PA Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
BNP.PA Sortino Ratio Rank: 7272
Sortino Ratio Rank
BNP.PA Omega Ratio Rank: 7272
Omega Ratio Rank
BNP.PA Calmar Ratio Rank: 7474
Calmar Ratio Rank
BNP.PA Martin Ratio Rank: 7575
Martin Ratio Rank
IGLN.L
IGLN.L Risk / Return Rank: 2828
Overall Rank
IGLN.L Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
IGLN.L Sortino Ratio Rank: 2828
Sortino Ratio Rank
IGLN.L Omega Ratio Rank: 3131
Omega Ratio Rank
IGLN.L Calmar Ratio Rank: 2525
Calmar Ratio Rank
IGLN.L Martin Ratio Rank: 2727
Martin Ratio Rank
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.

BNP.PA vs. IGLN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNP Paribas SA (BNP.PA) and iShares Physical Gold ETC (IGLN.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.

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.

BNP.PAIGLN.LDifference
Sharpe ratioReturn per unit of total volatility
1.20
0.99

+0.21

Sortino ratioReturn per unit of downside risk
1.76
1.40

+0.36

Omega ratioGain probability vs. loss probability

1.22

1.20

+0.02

Calmar ratioReturn relative to maximum drawdown

1.75

1.10

+0.65

Martin ratioReturn relative to average drawdown

4.48

3.40

+1.08

BNP.PA vs. IGLN.L - Sharpe Ratio Comparison

The current BNP.PA Sharpe Ratio is 1.20, which is comparable to the IGLN.L Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of BNP.PA and IGLN.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

BNP.PA vs. IGLN.L - Drawdown Comparison

The maximum BNP.PA drawdown since its inception was -75.39%, which is greater than IGLN.L's maximum drawdown of -36.94%. Use the drawdown chart below to compare losses from any high point for BNP.PA and IGLN.L.

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Drawdown Indicators

BNP.PAIGLN.LDifference

Max Drawdown

Largest peak-to-trough decline

-75.39%

-36.94%

-38.45%

Max Drawdown (1Y)

Largest decline over 1 year

-19.50%

-22.28%

+2.78%

Max Drawdown (3Y)

Largest decline over 3 years

-21.82%

-22.28%

+0.46%

Max Drawdown (5Y)

Largest decline over 5 years

-34.10%

-22.28%

-11.82%

Max Drawdown (10Y)

Largest decline over 10 years

-59.43%

-22.28%

-37.15%

Current Drawdown

Current decline from peak

0.00%

-19.59%

+19.59%

Average Drawdown

Average peak-to-trough decline

-23.60%

-13.17%

-10.43%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.66%

7.18%

+0.48%

Volatility

BNP.PA vs. IGLN.L - Volatility Comparison

BNP Paribas SA (BNP.PA) has a higher volatility of 7.86% compared to iShares Physical Gold ETC (IGLN.L) at 7.27%. This indicates that BNP.PA's price experiences larger fluctuations and is considered to be riskier than IGLN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BNP.PAIGLN.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.86%

7.27%

+0.59%

Volatility (6M)

Calculated over the trailing 6-month period

21.27%

21.85%

-0.58%

Volatility (1Y)

Calculated over the trailing 1-year period

28.55%

24.70%

+3.85%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

28.50%

16.91%

+11.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

31.19%

15.22%

+15.97%

Dividends

BNP.PA vs. IGLN.L - Dividend Comparison

BNP.PA's dividend yield for the trailing twelve months is around 5.34%, while IGLN.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
BNP.PA
BNP Paribas SA		5.34%9.13%7.77%6.23%6.89%4.38%0.00%5.72%7.65%4.34%3.82%2.87%
IGLN.L
iShares 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%

Frequently Asked Questions

BNP.PA and IGLN.L have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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