FNCW.L vs. IGLD.DE
FNCW.L (SPDR MSCI World Financials UCITS ETF) and IGLD.DE (iShares Physical Gold (EUR Hedged) ETC) are both exchange-traded funds - FNCW.L is a Financials Equities fund tracking the MSCI World/Financials NR USD, while IGLD.DE is a Precious Metals fund tracking the Gold (EUR Hedged). Both are passively managed. Over the past 3 years, FNCW.L returned 20.93%/yr vs 28.68%/yr for IGLD.DE. At a 0.04 correlation, their price movements are largely independent. FNCW.L charges 0.30%/yr vs 0.25%/yr for IGLD.DE.
Performance
FNCW.L vs. IGLD.DE - Performance Comparison
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Different Trading Currencies
FNCW.L is traded in GBP, while IGLD.DE is traded in EUR. To make them comparable, the IGLD.DE values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, FNCW.L achieves a 0.43% return, which is significantly higher than IGLD.DE's -0.44% return.
FNCW.L
- 1D
- 1.91%
- 1M
- 2.90%
- YTD
- 0.43%
- 6M
- 3.68%
- 1Y
- 15.52%
- 3Y*
- 20.93%
- 5Y*
- —
- 10Y*
- —
IGLD.DE
- 1D
- 0.83%
- 1M
- -2.25%
- YTD
- -0.44%
- 6M
- 3.60%
- 1Y
- 32.34%
- 3Y*
- 28.68%
- 5Y*
- —
- 10Y*
- —
FNCW.L vs. IGLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FNCW.L SPDR MSCI World Financials UCITS ETF | 0.43% | 20.39% | 28.76% | 9.92% | 7.63% |
IGLD.DE iShares Physical Gold (EUR Hedged) ETC | -0.44% | 71.53% | 19.11% | 8.28% | 7.29% |
Correlation
The correlation between FNCW.L and IGLD.DE is 0.08, 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 (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jul 8, 2022 | 0.04 |
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Return for Risk
FNCW.L vs. IGLD.DE — Risk / Return Rank
FNCW.L
IGLD.DE
FNCW.L vs. IGLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World Financials UCITS ETF (FNCW.L) and iShares Physical Gold (EUR Hedged) ETC (IGLD.DE). 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.
| FNCW.L | IGLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.24 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 1.78 | -0.16 |
| Martin ratioReturn relative to average drawdown | 5.15 | 4.62 | +0.53 |
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
| FNCW.L | IGLD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 1.29 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.92 | 1.34 | -0.42 |
Drawdowns
FNCW.L vs. IGLD.DE - Drawdown Comparison
The maximum FNCW.L drawdown since its inception was -16.31%, smaller than the maximum IGLD.DE drawdown of -18.09%. Use the drawdown chart below to compare losses from any high point for FNCW.L and IGLD.DE.
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Drawdown Indicators
| FNCW.L | IGLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.31% | -18.09% | +1.78% |
Max Drawdown (1Y)Largest decline over 1 year | -9.55% | -18.09% | +8.54% |
Max Drawdown (3Y)Largest decline over 3 years | -16.31% | -18.09% | +1.78% |
Current DrawdownCurrent decline from peak | -1.13% | -16.62% | +15.49% |
Average DrawdownAverage peak-to-trough decline | -3.76% | -4.01% | +0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 6.98% | -3.98% |
Volatility
FNCW.L vs. IGLD.DE - Volatility Comparison
The current volatility for SPDR MSCI World Financials UCITS ETF (FNCW.L) is 3.46%, while iShares Physical Gold (EUR Hedged) ETC (IGLD.DE) has a volatility of 5.93%. This indicates that FNCW.L experiences smaller price fluctuations and is considered to be less risky than IGLD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNCW.L | IGLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.46% | 5.93% | -2.47% |
Volatility (6M)Calculated over the trailing 6-month period | 9.59% | 21.72% | -12.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.41% | 25.02% | -12.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.02% | 18.20% | -3.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.02% | 18.20% | -3.18% |
FNCW.L vs. IGLD.DE - Expense Ratio Comparison
FNCW.L has a 0.30% expense ratio, which is higher than IGLD.DE's 0.25% expense ratio.
Dividends
FNCW.L vs. IGLD.DE - Dividend Comparison
Neither FNCW.L nor IGLD.DE has paid dividends to shareholders.
Frequently Asked Questions
FNCW.L and IGLD.DE have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGLD.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLD.DE is cheaper with a 0.25% expense ratio, compared with 0.30% for FNCW.L.
FNCW.L is categorized as Financials Equities, while IGLD.DE is Precious Metals. FNCW.L tracks MSCI World/Financials NR USD, while IGLD.DE tracks Gold (EUR Hedged). They also come from different issuers: State Street and iShares. Their fees differ too: 0.30% for FNCW.L and 0.25% for IGLD.DE.
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