FSEU.L vs. SGLN.L
FSEU.L (iShares Edge MSCI Europe Multifactor UCITS) and SGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - FSEU.L is a Europe Equities fund tracking the MSCI Europe NR EUR, while SGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, FSEU.L returned 10.82%/yr vs 14.27%/yr for SGLN.L. At a 0.04 correlation, their price movements are largely independent. FSEU.L charges 0.45%/yr vs 0.12%/yr for SGLN.L.
Performance
FSEU.L vs. SGLN.L - Performance Comparison
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Returns By Period
In the year-to-date period, FSEU.L achieves a 9.29% return, which is significantly higher than SGLN.L's 3.89% return. Over the past 10 years, FSEU.L has underperformed SGLN.L with an annualized return of 10.82%, while SGLN.L has yielded a comparatively higher 14.27% annualized return.
FSEU.L
- 1D
- 0.52%
- 1M
- 1.83%
- YTD
- 9.29%
- 6M
- 12.30%
- 1Y
- 23.28%
- 3Y*
- 18.33%
- 5Y*
- 10.74%
- 10Y*
- 10.82%
SGLN.L
- 1D
- 0.70%
- 1M
- -1.36%
- YTD
- 3.89%
- 6M
- 5.42%
- 1Y
- 33.75%
- 3Y*
- 28.17%
- 5Y*
- 20.12%
- 10Y*
- 14.27%
FSEU.L vs. SGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSEU.L iShares Edge MSCI Europe Multifactor UCITS | 9.29% | 27.11% | 9.24% | 16.69% | -10.53% | 18.42% | 5.03% | 18.30% | -10.14% | 16.67% |
SGLN.L iShares Physical Gold ETC | 3.89% | 53.66% | 28.20% | 7.24% | 11.84% | -2.57% | 19.62% | 14.63% | 4.36% | 1.68% |
Correlation
The correlation between FSEU.L and SGLN.L is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2015 | 0.04 |
The correlation between FSEU.L and SGLN.L shifts across timeframes, from 0.04 (5 years) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FSEU.L vs. SGLN.L — Risk / Return Rank
FSEU.L
SGLN.L
FSEU.L vs. SGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Multifactor UCITS (FSEU.L) and iShares Physical Gold ETC (SGLN.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.
| FSEU.L | SGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.29 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.70 | 1.91 | +0.79 |
| Martin ratioReturn relative to average drawdown | 10.05 | 5.05 | +5.01 |
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
| FSEU.L | SGLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.01 | 1.45 | +0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.79 | 1.23 | -0.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.74 | 0.90 | -0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 0.55 | +0.19 |
Drawdowns
FSEU.L vs. SGLN.L - Drawdown Comparison
The maximum FSEU.L drawdown since its inception was -29.40%, smaller than the maximum SGLN.L drawdown of -41.71%. Use the drawdown chart below to compare losses from any high point for FSEU.L and SGLN.L.
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Drawdown Indicators
| FSEU.L | SGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.40% | -41.71% | +12.31% |
Max Drawdown (1Y)Largest decline over 1 year | -8.57% | -17.57% | +9.00% |
Max Drawdown (3Y)Largest decline over 3 years | -12.08% | -17.57% | +5.49% |
Max Drawdown (5Y)Largest decline over 5 years | -20.33% | -17.57% | -2.76% |
Max Drawdown (10Y)Largest decline over 10 years | -29.40% | -21.91% | -7.49% |
Current DrawdownCurrent decline from peak | -0.47% | -16.01% | +15.54% |
Average DrawdownAverage peak-to-trough decline | -4.14% | -14.76% | +10.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.31% | 6.67% | -4.36% |
Volatility
FSEU.L vs. SGLN.L - Volatility Comparison
The current volatility for iShares Edge MSCI Europe Multifactor UCITS (FSEU.L) is 3.39%, while iShares Physical Gold ETC (SGLN.L) has a volatility of 5.08%. This indicates that FSEU.L experiences smaller price fluctuations and is considered to be less risky than SGLN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSEU.L | SGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.39% | 5.08% | -1.69% |
Volatility (6M)Calculated over the trailing 6-month period | 9.41% | 20.08% | -10.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.53% | 23.19% | -11.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.57% | 16.30% | -2.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.65% | 15.78% | -1.13% |
FSEU.L vs. SGLN.L - Expense Ratio Comparison
FSEU.L has a 0.45% expense ratio, which is higher than SGLN.L's 0.12% expense ratio.
Dividends
FSEU.L vs. SGLN.L - Dividend Comparison
Neither FSEU.L nor SGLN.L has paid dividends to shareholders.
Frequently Asked Questions
FSEU.L and SGLN.L have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGLN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGLN.L is cheaper with a 0.12% expense ratio, compared with 0.45% for FSEU.L.
FSEU.L is categorized as Europe Equities, while SGLN.L is Gold. FSEU.L tracks MSCI Europe NR EUR, while SGLN.L tracks LBMA Gold Price. Their fees differ too: 0.45% for FSEU.L and 0.12% for SGLN.L.
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