GLDA.DE vs. 8PSE.DE
GLDA.DE (Amundi Physical Gold ETC (C)) and 8PSE.DE (Invesco Physical Gold (EUR Hedged) ETC) are both Gold funds - GLDA.DE tracks the Gold while 8PSE.DE tracks the LBMA Gold Price PM (EUR Hedged). Both are passively managed. Over the past 5 years, GLDA.DE returned 18.68%/yr vs 12.89%/yr for 8PSE.DE. At a 0.34 correlation, their price movements are largely independent. GLDA.DE charges 0.12%/yr vs 0.34%/yr for 8PSE.DE.
Performance
GLDA.DE vs. 8PSE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, GLDA.DE achieves a -5.73% return, which is significantly lower than 8PSE.DE's 83.34% return.
GLDA.DE
- 1D
- 0.00%
- 1M
- -8.94%
- YTD
- -5.73%
- 6M
- -6.84%
- 1Y
- 23.36%
- 3Y*
- 25.84%
- 5Y*
- 18.68%
- 10Y*
- —
8PSE.DE
- 1D
- -3.05%
- 1M
- -11.31%
- YTD
- 83.34%
- 6M
- 83.34%
- 1Y
- 83.34%
- 3Y*
- 22.39%
- 5Y*
- 12.89%
- 10Y*
- —
GLDA.DE vs. 8PSE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GLDA.DE Amundi Physical Gold ETC (C) | -5.73% | 48.99% | 34.24% | 9.40% | 7.00% | 3.88% | -4.39% |
8PSE.DE Invesco Physical Gold (EUR Hedged) ETC | 83.34% | 0.00% | 0.00% | 0.00% | 0.00% | -1.85% | 4.42% |
Correlation
The correlation between GLDA.DE and 8PSE.DE is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Jul 9, 2020 | 0.34 |
Over the past year, GLDA.DE and 8PSE.DE have become more correlated (0.73) than their long-term average of 0.34, meaning their price movements have been converging.
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Return for Risk
GLDA.DE vs. 8PSE.DE — Risk / Return Rank
GLDA.DE
8PSE.DE
GLDA.DE vs. 8PSE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Physical Gold ETC (C) (GLDA.DE) and Invesco Physical Gold (EUR Hedged) ETC (8PSE.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.
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.
| GLDA.DE | 8PSE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | -1.41 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.97 | -0.77 |
| Calmar ratioReturn relative to maximum drawdown | 1.07 | 1.73 | -0.67 |
| Martin ratioReturn relative to average drawdown | 2.95 | 3.70 | -0.75 |
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Drawdowns
GLDA.DE vs. 8PSE.DE - Drawdown Comparison
The maximum GLDA.DE drawdown since its inception was -22.00%, smaller than the maximum 8PSE.DE drawdown of -47.85%. Use the drawdown chart below to compare losses from any high point for GLDA.DE and 8PSE.DE.
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Drawdown Indicators
| GLDA.DE | 8PSE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.00% | -47.85% | +25.85% |
Max Drawdown (1Y)Largest decline over 1 year | -22.00% | -47.85% | +25.85% |
Max Drawdown (3Y)Largest decline over 3 years | -22.00% | -47.85% | +25.85% |
Max Drawdown (5Y)Largest decline over 5 years | -22.00% | -47.85% | +25.85% |
Current DrawdownCurrent decline from peak | -22.00% | -25.16% | +3.16% |
Average DrawdownAverage peak-to-trough decline | -5.89% | -9.84% | +3.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.94% | 22.43% | -14.49% |
Volatility
GLDA.DE vs. 8PSE.DE - Volatility Comparison
The current volatility for Amundi Physical Gold ETC (C) (GLDA.DE) is 7.96%, while Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE) has a volatility of 9.10%. This indicates that GLDA.DE experiences smaller price fluctuations and is considered to be less risky than 8PSE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDA.DE | 8PSE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.96% | 9.10% | -1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 21.33% | 76.34% | -55.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.15% | 150.14% | -125.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.33% | 67.03% | -50.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.08% | 61.70% | -45.62% |
GLDA.DE vs. 8PSE.DE - Expense Ratio Comparison
GLDA.DE has a 0.12% expense ratio, which is lower than 8PSE.DE's 0.34% expense ratio.
Dividends
GLDA.DE vs. 8PSE.DE - Dividend Comparison
Neither GLDA.DE nor 8PSE.DE has paid dividends to shareholders.
Frequently Asked Questions
GLDA.DE and 8PSE.DE have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GLDA.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLDA.DE is cheaper with a 0.12% expense ratio, compared with 0.34% for 8PSE.DE.
GLDA.DE tracks Gold, while 8PSE.DE tracks LBMA Gold Price PM (EUR Hedged). They also come from different issuers: Amundi and Invesco. Their fees differ too: 0.12% for GLDA.DE and 0.34% for 8PSE.DE.
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