FGQD.L vs. GC=F

Last updated Jun 16, 2026

FGQD.L (Fidelity Global Quality Income ETF) is Global Equities fund tracking the Fidelity Global Quality Income index, while GC=F (Gold Futures) is an asset. At a correlation of -0.07, they often move in opposite directions.

Performance

FGQD.L vs. GC=F - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Fidelity Global Quality Income ETF (FGQD.L) and Gold Futures (GC=F). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FGQD.L is traded in GBp, while GC=F is traded in USD. To make them comparable, the GC=F values have been converted to GBp using the latest available exchange rates.

Returns By Period

FGQD.L

• 1D: 0.92%
• 1M: 2.70%
• YTD: 10.74%
• 6M: 10.84%
• 1Y: 27.46%
• 3Y*: 15.11%
• 5Y*: 11.84%
• 10Y*: —

GC=F

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FGQD.L vs. GC=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FGQD.L Fidelity Global Quality Income ETF	10.74%	12.15%	13.21%	11.51%	5.85%
GC=F Gold Futures	0.00%	0.00%	0.00%	0.00%	14.22%

Correlation

The correlation between FGQD.L and GC=F is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 31, 2022	-0.07

Return for Risk

FGQD.L vs. GC=F — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FGQD.L

FGQD.L Risk / Return Rank: 88
FGQD.L Sharpe Ratio Rank: 91
FGQD.L Sortino Ratio Rank: 91
FGQD.L Omega Ratio Rank: 90
FGQD.L Calmar Ratio Rank: 79
FGQD.L Martin Ratio Rank: 87

GC=F

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

FGQD.L vs. GC=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Global Quality Income ETF (FGQD.L) and Gold Futures (GC=F). 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.

	FGQD.L	GC=F	Difference
Sharpe ratio: Return per unit of total volatility	2.79	—	—
Sortino ratio: Return per unit of downside risk	3.92	—	—
Omega ratio: Gain probability vs. loss probability	1.52	—	—
Calmar ratio: Return relative to maximum drawdown	3.79	—	—
Martin ratio: Return relative to average drawdown	17.00	—	—

Drawdowns

Drawdown Indicators

	FGQD.L	GC=F	Difference
Max Drawdown Largest peak-to-trough decline	-26.43%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-7.22%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-16.90%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.90%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-5.63%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	—	—

Volatility

Volatility by Period

	FGQD.L	GC=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.04%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.57%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.81%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.22%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.46%	—	—

Frequently Asked Questions

Can I hold both FGQD.L and GC=F in my portfolio?

FGQD.L and GC=F have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.