CSPX.AS vs. SGLP.L
CSPX.AS (iShares Core S&P 500 UCITS ETF) and SGLP.L (Invesco Physical Gold A) are both exchange-traded funds - CSPX.AS is a S&P 500 fund tracking the S&P 500 Index, while SGLP.L is a Gold fund tracking the Gold. Both are passively managed. Over the past 10 years, CSPX.AS returned 14.86%/yr vs 12.06%/yr for SGLP.L. At a 0.01 correlation, their price movements are largely independent. CSPX.AS charges 0.07%/yr vs 0.12%/yr for SGLP.L.
Performance
CSPX.AS vs. SGLP.L - Performance Comparison
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Different Trading Currencies
CSPX.AS is traded in EUR, while SGLP.L is traded in GBp. To make them comparable, the SGLP.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, CSPX.AS achieves a 9.99% return, which is significantly higher than SGLP.L's -0.73% return. Over the past 10 years, CSPX.AS has outperformed SGLP.L with an annualized return of 14.86%, while SGLP.L has yielded a comparatively lower 12.06% annualized return.
CSPX.AS
- 1D
- 1.55%
- 1M
- 0.57%
- YTD
- 9.99%
- 6M
- 11.11%
- 1Y
- 24.76%
- 3Y*
- 17.93%
- 5Y*
- 14.23%
- 10Y*
- 14.86%
SGLP.L
- 1D
- 2.77%
- 1M
- -6.81%
- YTD
- -0.73%
- 6M
- -0.27%
- 1Y
- 23.03%
- 3Y*
- 26.26%
- 5Y*
- 18.49%
- 10Y*
- 12.06%
CSPX.AS vs. SGLP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSPX.AS iShares Core S&P 500 UCITS ETF | 9.99% | 4.00% | 33.87% | 22.28% | -14.24% | 40.26% | 7.72% | 32.99% | -0.36% | 7.13% |
SGLP.L Invesco Physical Gold A | -0.73% | 45.59% | 34.32% | 9.54% | 6.07% | 3.44% | 13.47% | 21.94% | 3.02% | -2.36% |
Correlation
The correlation between CSPX.AS and SGLP.L is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since May 19, 2010 | 0.01 |
The correlation between CSPX.AS and SGLP.L shifts across timeframes, from -0.01 (10 years) to 0.18 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CSPX.AS vs. SGLP.L — Risk / Return Rank
CSPX.AS
SGLP.L
CSPX.AS vs. SGLP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 UCITS ETF (CSPX.AS) and Invesco Physical Gold A (SGLP.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.
| CSPX.AS | SGLP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.09 | ||
| Sortino ratioReturn per unit of downside risk | +1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.21 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.40 | 1.09 | +2.30 |
| Martin ratioReturn relative to average drawdown | 12.02 | 3.31 | +8.70 |
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Drawdowns
CSPX.AS vs. SGLP.L - Drawdown Comparison
The maximum CSPX.AS drawdown since its inception was -33.65%, smaller than the maximum SGLP.L drawdown of -61.13%. Use the drawdown chart below to compare losses from any high point for CSPX.AS and SGLP.L.
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Drawdown Indicators
| CSPX.AS | SGLP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.65% | -61.13% | +27.48% |
Max Drawdown (1Y)Largest decline over 1 year | -7.11% | -22.00% | +14.89% |
Max Drawdown (3Y)Largest decline over 3 years | -23.37% | -22.00% | -1.37% |
Max Drawdown (5Y)Largest decline over 5 years | -23.37% | -22.00% | -1.37% |
Max Drawdown (10Y)Largest decline over 10 years | -33.65% | -22.00% | -11.65% |
Current DrawdownCurrent decline from peak | -1.76% | -19.84% | +18.08% |
Average DrawdownAverage peak-to-trough decline | -3.74% | -31.47% | +27.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 7.24% | -5.22% |
Volatility
CSPX.AS vs. SGLP.L - Volatility Comparison
The current volatility for iShares Core S&P 500 UCITS ETF (CSPX.AS) is 3.07%, while Invesco Physical Gold A (SGLP.L) has a volatility of 6.61%. This indicates that CSPX.AS experiences smaller price fluctuations and is considered to be less risky than SGLP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSPX.AS | SGLP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.07% | 6.61% | -3.54% |
Volatility (6M)Calculated over the trailing 6-month period | 7.76% | 20.72% | -12.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.53% | 23.66% | -12.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.18% | 21.83% | -6.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.07% | 18.02% | -1.95% |
CSPX.AS vs. SGLP.L - Expense Ratio Comparison
CSPX.AS has a 0.07% expense ratio, which is lower than SGLP.L's 0.12% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
CSPX.AS vs. SGLP.L - Dividend Comparison
Neither CSPX.AS nor SGLP.L has paid dividends to shareholders.
Frequently Asked Questions
CSPX.AS and SGLP.L have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSPX.AS is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSPX.AS is cheaper with a 0.07% expense ratio, compared with 0.12% for SGLP.L.
CSPX.AS is categorized as S&P 500, while SGLP.L is Gold. CSPX.AS tracks S&P 500 Index, while SGLP.L tracks Gold. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.07% for CSPX.AS and 0.12% for SGLP.L.
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