GDGB.L vs. SGLN.L
GDGB.L (VanEck Gold Miners UCITS ETF) and SGLN.L (iShares Physical Gold ETC) are both Gold funds - GDGB.L tracks the MarketVector Global Gold Miners Index while SGLN.L tracks the LBMA Gold Price. Both are passively managed. Over the past 5 years, GDGB.L returned 20.20%/yr vs 20.12%/yr for SGLN.L. A 0.66 correlation means they provide meaningful diversification when combined. GDGB.L charges 0.53%/yr vs 0.12%/yr for SGLN.L.
Performance
GDGB.L vs. SGLN.L - Performance Comparison
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Different Trading Currencies
GDGB.L is traded in GBP, while SGLN.L is traded in GBp. To make them comparable, the SGLN.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, GDGB.L achieves a 0.91% return, which is significantly lower than SGLN.L's 3.89% return.
GDGB.L
- 1D
- 0.68%
- 1M
- 0.97%
- YTD
- 0.91%
- 6M
- 6.45%
- 1Y
- 64.98%
- 3Y*
- 37.68%
- 5Y*
- 20.20%
- 10Y*
- —
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%
GDGB.L vs. SGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GDGB.L VanEck Gold Miners UCITS ETF | 0.91% | 138.26% | 11.24% | 3.69% | 3.04% | -10.47% | 19.56% | 38.86% | -5.04% | -4.03% |
SGLN.L iShares Physical Gold ETC | 3.89% | 53.66% | 28.20% | 7.24% | 11.84% | -2.57% | 19.62% | 14.63% | 4.36% | -3.99% |
Correlation
The correlation between GDGB.L and SGLN.L is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2017 | 0.66 |
The correlation between GDGB.L and SGLN.L shifts across timeframes, from 0.66 (all time) to 0.77 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GDGB.L vs. SGLN.L — Risk / Return Rank
GDGB.L
SGLN.L
GDGB.L vs. SGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Gold Miners UCITS ETF (GDGB.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.
| GDGB.L | SGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.29 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 1.91 | +0.32 |
| Martin ratioReturn relative to average drawdown | 5.70 | 5.05 | +0.65 |
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
| GDGB.L | SGLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.55 | 1.45 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | 1.23 | -0.61 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.90 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.55 | -0.04 |
Drawdowns
GDGB.L vs. SGLN.L - Drawdown Comparison
The maximum GDGB.L drawdown since its inception was -40.80%, roughly equal to the maximum SGLN.L drawdown of -41.71%. Use the drawdown chart below to compare losses from any high point for GDGB.L and SGLN.L.
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Drawdown Indicators
| GDGB.L | SGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.80% | -41.71% | +0.91% |
Max Drawdown (1Y)Largest decline over 1 year | -28.97% | -17.57% | -11.40% |
Max Drawdown (3Y)Largest decline over 3 years | -28.97% | -17.57% | -11.40% |
Max Drawdown (5Y)Largest decline over 5 years | -35.49% | -17.57% | -17.92% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.91% | — |
Current DrawdownCurrent decline from peak | -24.72% | -16.01% | -8.71% |
Average DrawdownAverage peak-to-trough decline | -17.52% | -14.76% | -2.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.36% | 6.67% | +4.69% |
Volatility
GDGB.L vs. SGLN.L - Volatility Comparison
VanEck Gold Miners UCITS ETF (GDGB.L) has a higher volatility of 14.28% compared to iShares Physical Gold ETC (SGLN.L) at 5.08%. This indicates that GDGB.L's price experiences larger fluctuations and is considered to be riskier 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
| GDGB.L | SGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.28% | 5.08% | +9.20% |
Volatility (6M)Calculated over the trailing 6-month period | 33.43% | 20.08% | +13.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.77% | 23.19% | +18.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.58% | 16.30% | +16.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.11% | 15.78% | +16.33% |
GDGB.L vs. SGLN.L - Expense Ratio Comparison
GDGB.L has a 0.53% expense ratio, which is higher than SGLN.L's 0.12% expense ratio.
Dividends
GDGB.L vs. SGLN.L - Dividend Comparison
Neither GDGB.L nor SGLN.L has paid dividends to shareholders.
Frequently Asked Questions
GDGB.L and SGLN.L have a correlation of 0.77, 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 0.53% for GDGB.L.
GDGB.L tracks MarketVector Global Gold Miners Index, while SGLN.L tracks LBMA Gold Price. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.53% for GDGB.L and 0.12% for SGLN.L.
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