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COMM.L vs. SGLN.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

COMM.L vs. SGLN.L

Last updated Jun 4, 2026

COMM.L (iShares Diversified Commodity Swap UCITS ETF) and SGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - COMM.L is a Commodities fund tracking the Bloomberg Commodity, while SGLN.L is a Precious Metals fund tracking the LBMA Gold Price. Both are passively managed. Over the past 5 years, COMM.L returned 12.56%/yr vs 19.95%/yr for SGLN.L. At a 0.34 correlation, their price movements are largely independent.

Performance

COMM.L vs. SGLN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Diversified Commodity Swap UCITS ETF (COMM.L) and iShares Physical Gold ETC (SGLN.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, COMM.L achieves a 26.50% return, which is significantly higher than SGLN.L's 3.17% return.

COMM.L

1D
0.70%
1M
-0.33%
YTD
26.50%
6M
24.77%
1Y
40.42%
3Y*
13.56%
5Y*
12.56%
10Y*
—

SGLN.L

1D
-1.14%
1M
-2.89%
YTD
3.17%
6M
4.34%
1Y
33.24%
3Y*
27.91%
5Y*
19.95%
10Y*
14.29%
*Multi-year figures are annualized to reflect compound growth (CAGR)

COMM.L vs. SGLN.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
COMM.L
iShares Diversified Commodity Swap UCITS ETF		26.50%8.53%6.19%-12.55%28.34%29.04%-7.09%2.79%-4.51%0.62%
SGLN.L
iShares Physical Gold ETC		3.17%53.66%28.20%7.24%11.84%-2.57%19.62%14.63%4.36%-4.36%

Correlation

The correlation between COMM.L and SGLN.L is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.20

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

0.35

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

0.33

Correlation (All Time)
Calculated using the full available price history since Aug 23, 2017

0.34

The correlation between COMM.L and SGLN.L shifts across timeframes, from 0.20 (1 year) to 0.35 (3 years), reflecting how their relationship changes across market environments.

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iShares Diversified Commodity Swap UCITS ETF

iShares Physical Gold ETC

Often compared with COMM.L:
COMM.L vs. GLTRCOMM.L vs. RINFCOMM.L vs. LCSIXCOMM.L vs. SGLP.LCOMM.L vs. CMOP.LCOMM.L vs. PDBCCOMM.L vs. COM
Often compared with SGLN.L:
SGLN.L vs. IGLN.LSGLN.L vs. GLDSGLN.L vs. IAUSGLN.L vs. SGLS.LSGLN.L vs. GLDW.LSGLN.L vs. GBSP.LSGLN.L vs. PHGP.L

Return for Risk

COMM.L vs. SGLN.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
COMM.L
COMM.L Risk / Return Rank: 6868
Overall Rank
COMM.L Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
COMM.L Sortino Ratio Rank: 5555
Sortino Ratio Rank
COMM.L Omega Ratio Rank: 6565
Omega Ratio Rank
COMM.L Calmar Ratio Rank: 8989
Calmar Ratio Rank
COMM.L Martin Ratio Rank: 6767
Martin Ratio Rank
SGLN.L
SGLN.L Risk / Return Rank: 3737
Overall Rank
SGLN.L Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
SGLN.L Sortino Ratio Rank: 3434
Sortino Ratio Rank
SGLN.L Omega Ratio Rank: 4343
Omega Ratio Rank
SGLN.L Calmar Ratio Rank: 3737
Calmar Ratio Rank
SGLN.L Martin Ratio Rank: 3333
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.

COMM.L vs. SGLN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Diversified Commodity Swap UCITS ETF (COMM.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.

COMM.LSGLN.LDifference
Sharpe ratioReturn per unit of total volatility
2.17
1.43

+0.74

Sortino ratioReturn per unit of downside risk
2.64
1.86

+0.78

Omega ratioGain probability vs. loss probability

1.40

1.28

+0.11

Calmar ratioReturn relative to maximum drawdown

5.37

1.88

+3.49

Martin ratioReturn relative to average drawdown

12.27

5.03

+7.25

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COMM.L vs. SGLN.L - Sharpe Ratio Comparison

The current COMM.L Sharpe Ratio is 2.17, which is higher than the SGLN.L Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of COMM.L and SGLN.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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Sharpe Ratios by Period

COMM.LSGLN.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.17

1.43

+0.74

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.76

1.22

-0.46

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.90

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.52

0.55

-0.02

Drawdowns

COMM.L vs. SGLN.L - Drawdown Comparison

The maximum COMM.L drawdown since its inception was -28.49%, smaller than the maximum SGLN.L drawdown of -41.71%. Use the drawdown chart below to compare losses from any high point for COMM.L and SGLN.L.

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Drawdown Indicators

COMM.LSGLN.LDifference

Max Drawdown

Largest peak-to-trough decline

-28.49%

-41.71%

+13.22%

Max Drawdown (1Y)

Largest decline over 1 year

-7.49%

-17.57%

+10.08%

Max Drawdown (3Y)

Largest decline over 3 years

-14.73%

-17.57%

+2.84%

Max Drawdown (5Y)

Largest decline over 5 years

-28.49%

-17.57%

-10.92%

Max Drawdown (10Y)

Largest decline over 10 years

—

-21.91%

—

Current Drawdown

Current decline from peak

-3.76%

-16.59%

+12.83%

Average Drawdown

Average peak-to-trough decline

-12.16%

-14.76%

+2.60%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.28%

6.60%

-3.32%

Volatility

COMM.L vs. SGLN.L - Volatility Comparison

iShares Diversified Commodity Swap UCITS ETF (COMM.L) has a higher volatility of 6.13% compared to iShares Physical Gold ETC (SGLN.L) at 5.08%. This indicates that COMM.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

COMM.LSGLN.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.13%

5.08%

+1.05%

Volatility (6M)

Calculated over the trailing 6-month period

16.37%

20.07%

-3.70%

Volatility (1Y)

Calculated over the trailing 1-year period

18.53%

23.19%

-4.66%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.50%

16.29%

+0.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.37%

15.78%

-0.41%

Dividends

COMM.L vs. SGLN.L - Dividend Comparison

Neither COMM.L nor SGLN.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

COMM.L and SGLN.L have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

COMM.L is categorized as Commodities, while SGLN.L is Precious Metals. COMM.L tracks Bloomberg Commodity, while SGLN.L tracks LBMA Gold Price.

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