EGLN.L vs. SGLD.L
EGLN.L (iShares Physical Gold ETC) and SGLD.L (Invesco Physical Gold ETC) are both Gold funds - EGLN.L tracks the LBMA Gold Price while SGLD.L tracks the LBMA Gold Price PM. Both are passively managed. Over the past 5 years, EGLN.L returned 19.56%/yr vs 19.55%/yr for SGLD.L. Their correlation of 0.93 suggests significant overlap in exposure. EGLN.L charges 0.25%/yr vs 0.12%/yr for SGLD.L.
Performance
EGLN.L vs. SGLD.L - Performance Comparison
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Different Trading Currencies
EGLN.L is traded in EUR, while SGLD.L is traded in USD. To make them comparable, the SGLD.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with EGLN.L having a 4.26% return and SGLD.L slightly lower at 4.25%.
EGLN.L
- 1D
- -1.20%
- 1M
- -2.91%
- YTD
- 4.26%
- 6M
- 5.60%
- 1Y
- 29.74%
- 3Y*
- 27.71%
- 5Y*
- 19.56%
- 10Y*
- —
SGLD.L
- 1D
- -1.24%
- 1M
- -2.30%
- YTD
- 4.25%
- 6M
- 5.67%
- 1Y
- 29.39%
- 3Y*
- 27.65%
- 5Y*
- 19.55%
- 10Y*
- 13.15%
EGLN.L vs. SGLD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EGLN.L iShares Physical Gold ETC | 4.26% | 46.01% | 34.32% | 9.37% | 6.00% | 3.85% | 13.68% | 20.62% | 3.36% | -1.73% |
SGLD.L Invesco Physical Gold ETC | 4.25% | 45.31% | 34.56% | 9.96% | 6.11% | 3.10% | 13.94% | 21.00% | 3.33% | -2.17% |
Correlation
The correlation between EGLN.L and SGLD.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Nov 29, 2016 | 0.93 |
The correlation between EGLN.L and SGLD.L has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
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Return for Risk
EGLN.L vs. SGLD.L — Risk / Return Rank
EGLN.L
SGLD.L
EGLN.L vs. SGLD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (EGLN.L) and Invesco Physical Gold ETC (SGLD.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.
| EGLN.L | SGLD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.24 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.77 | 1.76 | +0.01 |
| Martin ratioReturn relative to average drawdown | 4.56 | 4.58 | -0.02 |
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
| EGLN.L | SGLD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 1.23 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.21 | 1.17 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.87 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.94 | 0.66 | +0.28 |
Drawdowns
EGLN.L vs. SGLD.L - Drawdown Comparison
The maximum EGLN.L drawdown since its inception was -18.35%, smaller than the maximum SGLD.L drawdown of -36.98%. Use the drawdown chart below to compare losses from any high point for EGLN.L and SGLD.L.
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Drawdown Indicators
| EGLN.L | SGLD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.35% | -36.98% | +18.63% |
Max Drawdown (1Y)Largest decline over 1 year | -16.70% | -16.80% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -16.70% | -16.80% | +0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -16.70% | -16.80% | +0.10% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.20% | — |
Current DrawdownCurrent decline from peak | -15.67% | -15.59% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -6.34% | -12.34% | +6.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.50% | 6.48% | +0.02% |
Volatility
EGLN.L vs. SGLD.L - Volatility Comparison
The current volatility for iShares Physical Gold ETC (EGLN.L) is 5.42%, while Invesco Physical Gold ETC (SGLD.L) has a volatility of 5.90%. This indicates that EGLN.L experiences smaller price fluctuations and is considered to be less risky than SGLD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EGLN.L | SGLD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.42% | 5.90% | -0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 20.14% | 21.18% | -1.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.14% | 24.01% | -0.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.17% | 16.67% | -0.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.38% | 15.09% | -0.71% |
EGLN.L vs. SGLD.L - Expense Ratio Comparison
EGLN.L has a 0.25% expense ratio, which is higher than SGLD.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
EGLN.L vs. SGLD.L - Dividend Comparison
Neither EGLN.L nor SGLD.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, EGLN.L and SGLD.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, SGLD.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGLD.L is cheaper with a 0.12% expense ratio, compared with 0.25% for EGLN.L.
EGLN.L tracks LBMA Gold Price, while SGLD.L tracks LBMA Gold Price PM. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for EGLN.L and 0.12% for SGLD.L.
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