EMGU.L vs. IGLN.L
EMGU.L (iShares Core MSCI Emerging Markets IMI UCITS ETF) and IGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - EMGU.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while IGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 5 years, EMGU.L returned 8.74%/yr vs 19.89%/yr for IGLN.L. At a 0.14 correlation, their price movements are largely independent. EMGU.L charges 0.18%/yr vs 0.25%/yr for IGLN.L.
Performance
EMGU.L vs. IGLN.L - Performance Comparison
Loading charts...
Different Trading Currencies
EMGU.L is traded in GBP, while IGLN.L is traded in USD. To make them comparable, the IGLN.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, EMGU.L achieves a 24.44% return, which is significantly higher than IGLN.L's 4.12% return.
EMGU.L
- 1D
- -1.41%
- 1M
- 5.55%
- YTD
- 24.44%
- 6M
- 26.29%
- 1Y
- 50.77%
- 3Y*
- 20.11%
- 5Y*
- 8.74%
- 10Y*
- —
IGLN.L
- 1D
- 0.68%
- 1M
- -1.45%
- YTD
- 4.12%
- 6M
- 5.29%
- 1Y
- 33.65%
- 3Y*
- 28.24%
- 5Y*
- 19.89%
- 10Y*
- 14.26%
EMGU.L vs. IGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMGU.L iShares Core MSCI Emerging Markets IMI UCITS ETF | 24.44% | 22.98% | 9.19% | 4.92% | -10.05% | 0.64% | 14.80% | 3.98% |
IGLN.L iShares Physical Gold ETC | 4.12% | 53.17% | 28.35% | 7.77% | 11.79% | -3.12% | 20.51% | 0.41% |
Correlation
The correlation between EMGU.L and IGLN.L is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Nov 25, 2019 | 0.14 |
The correlation between EMGU.L and IGLN.L shifts across timeframes, from 0.14 (5 years) to 0.26 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EMGU.L vs. IGLN.L — Risk / Return Rank
EMGU.L
IGLN.L
EMGU.L vs. IGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Emerging Markets IMI UCITS ETF (EMGU.L) 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.
| EMGU.L | IGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.71 | ||
| Sortino ratioReturn per unit of downside risk | +2.17 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.28 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 4.65 | 1.91 | +2.74 |
| Martin ratioReturn relative to average drawdown | 16.46 | 5.10 | +11.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| EMGU.L | IGLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.10 | 1.39 | +1.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 1.18 | -0.62 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.87 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.52 | +0.06 |
Drawdowns
EMGU.L vs. IGLN.L - Drawdown Comparison
The maximum EMGU.L drawdown since its inception was -25.97%, smaller than the maximum IGLN.L drawdown of -41.86%. Use the drawdown chart below to compare losses from any high point for EMGU.L and IGLN.L.
Loading charts...
Drawdown Indicators
| EMGU.L | IGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.97% | -41.86% | +15.89% |
Max Drawdown (1Y)Largest decline over 1 year | -10.86% | -17.53% | +6.67% |
Max Drawdown (3Y)Largest decline over 3 years | -15.41% | -17.53% | +2.12% |
Max Drawdown (5Y)Largest decline over 5 years | -22.05% | -17.53% | -4.52% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.37% | — |
Current DrawdownCurrent decline from peak | -2.34% | -15.75% | +13.41% |
Average DrawdownAverage peak-to-trough decline | -9.03% | -14.94% | +5.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.08% | 6.59% | -3.51% |
Volatility
EMGU.L vs. IGLN.L - Volatility Comparison
iShares Core MSCI Emerging Markets IMI UCITS ETF (EMGU.L) has a higher volatility of 7.12% compared to iShares Physical Gold ETC (IGLN.L) at 5.91%. This indicates that EMGU.L'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.
Loading charts...
Volatility by Period
| EMGU.L | IGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.12% | 5.91% | +1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 13.90% | 21.10% | -7.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.30% | 24.06% | -7.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.60% | 16.80% | -1.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.58% | 16.34% | +1.24% |
EMGU.L vs. IGLN.L - Expense Ratio Comparison
EMGU.L has a 0.18% expense ratio, which is lower than IGLN.L's 0.25% 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
EMGU.L vs. IGLN.L - Dividend Comparison
EMGU.L's dividend yield for the trailing twelve months is around 1.61%, while IGLN.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
EMGU.L iShares Core MSCI Emerging Markets IMI UCITS ETF | 1.61% | 1.93% | 2.26% | 2.51% | 3.16% | 1.86% | 1.81% |
IGLN.L iShares Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMGU.L and IGLN.L have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMGU.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMGU.L is cheaper with a 0.18% expense ratio, compared with 0.25% for IGLN.L.
EMGU.L is categorized as Emerging Markets Equities, while IGLN.L is Gold. EMGU.L tracks MSCI EM NR USD, while IGLN.L tracks LBMA Gold Price. Their fees differ too: 0.18% for EMGU.L and 0.25% for IGLN.L.
Find the right allocation for EMGU.L and IGLN.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer