GLDA.L vs. SGBX.L
GLDA.L (Amundi Physical Gold ETC (C)) and SGBX.L (WisdomTree Physical Swiss Gold) are both Precious Metals funds tracking the Gold, from Amundi and WisdomTree respectively. Both are passively managed. Over the past 5 years, GLDA.L returned 20.09%/yr vs 19.84%/yr for SGBX.L. Their correlation of 0.84 suggests significant overlap in exposure. GLDA.L charges 0.12%/yr vs 0.15%/yr for SGBX.L.
Performance
GLDA.L vs. SGBX.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with GLDA.L having a 3.93% return and SGBX.L slightly lower at 3.86%.
GLDA.L
- 1D
- 0.72%
- 1M
- -1.41%
- YTD
- 3.93%
- 6M
- 5.34%
- 1Y
- 33.65%
- 3Y*
- 28.01%
- 5Y*
- 20.09%
- 10Y*
- —
SGBX.L
- 1D
- 0.68%
- 1M
- -1.38%
- YTD
- 3.86%
- 6M
- 5.27%
- 1Y
- 33.50%
- 3Y*
- 28.08%
- 5Y*
- 19.84%
- 10Y*
- —
GLDA.L vs. SGBX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GLDA.L Amundi Physical Gold ETC (C) | 3.93% | 53.56% | 28.19% | 7.26% | 12.68% | -3.12% | -2.69% |
SGBX.L WisdomTree Physical Swiss Gold | 3.86% | 53.55% | 28.13% | 7.24% | 12.36% | -3.37% | -2.22% |
Correlation
The correlation between GLDA.L and SGBX.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since May 19, 2020 | 0.84 |
The correlation between GLDA.L and SGBX.L shifts across timeframes, from 0.84 (all time) to 0.99 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GLDA.L vs. SGBX.L — Risk / Return Rank
GLDA.L
SGBX.L
GLDA.L vs. SGBX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Physical Gold ETC (C) (GLDA.L) and WisdomTree Physical Swiss Gold (SGBX.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.
| GLDA.L | SGBX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.29 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | 1.85 | +0.03 |
| Martin ratioReturn relative to average drawdown | 5.03 | 4.94 | +0.09 |
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
| GLDA.L | SGBX.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.43 | 1.44 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.41 | 1.23 | +0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.07 | 0.90 | +0.16 |
Drawdowns
GLDA.L vs. SGBX.L - Drawdown Comparison
The maximum GLDA.L drawdown since its inception was -21.57%, roughly equal to the maximum SGBX.L drawdown of -22.29%. Use the drawdown chart below to compare losses from any high point for GLDA.L and SGBX.L.
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Drawdown Indicators
| GLDA.L | SGBX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.57% | -22.29% | +0.72% |
Max Drawdown (1Y)Largest decline over 1 year | -17.90% | -18.07% | +0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -17.90% | -18.07% | +0.17% |
Max Drawdown (5Y)Largest decline over 5 years | -17.90% | -18.07% | +0.17% |
Current DrawdownCurrent decline from peak | -16.00% | -16.26% | +0.26% |
Average DrawdownAverage peak-to-trough decline | -5.40% | -6.07% | +0.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.67% | 6.76% | -0.09% |
Volatility
GLDA.L vs. SGBX.L - Volatility Comparison
Amundi Physical Gold ETC (C) (GLDA.L) and WisdomTree Physical Swiss Gold (SGBX.L) have volatilities of 5.20% and 5.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDA.L | SGBX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.20% | 5.08% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 20.39% | 19.94% | +0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.46% | 23.13% | +0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.65% | 16.17% | +1.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.02% | 15.17% | +2.85% |
GLDA.L vs. SGBX.L - Expense Ratio Comparison
GLDA.L has a 0.12% expense ratio, which is lower than SGBX.L's 0.15% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
GLDA.L vs. SGBX.L - Dividend Comparison
Neither GLDA.L nor SGBX.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, GLDA.L and SGBX.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, GLDA.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GLDA.L is cheaper with a 0.12% expense ratio, compared with 0.15% for SGBX.L.
Both ETFs track Gold. They also come from different issuers: Amundi and WisdomTree. Their fees differ too: 0.12% for GLDA.L and 0.15% for SGBX.L.
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