GLDA.L vs. SPGP.L
GLDA.L (Amundi Physical Gold ETC (C)) and SPGP.L (iShares Gold Producers UCITS ETF) are both Precious Metals funds - GLDA.L tracks the Gold while SPGP.L tracks the EMIX Global Mining Global Gold TR USD. Both are passively managed. Over the past 5 years, GLDA.L returned 19.92%/yr vs 19.77%/yr for SPGP.L. A 0.58 correlation means they provide meaningful diversification when combined. GLDA.L charges 0.12%/yr vs 0.55%/yr for SPGP.L.
Performance
GLDA.L vs. SPGP.L - Performance Comparison
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Returns By Period
In the year-to-date period, GLDA.L achieves a 3.18% return, which is significantly higher than SPGP.L's 0.82% return.
GLDA.L
- 1D
- -1.21%
- 1M
- -2.91%
- YTD
- 3.18%
- 6M
- 4.27%
- 1Y
- 33.20%
- 3Y*
- 27.70%
- 5Y*
- 19.92%
- 10Y*
- —
SPGP.L
- 1D
- -1.87%
- 1M
- -0.66%
- YTD
- 0.82%
- 6M
- 5.68%
- 1Y
- 64.09%
- 3Y*
- 38.07%
- 5Y*
- 19.77%
- 10Y*
- 15.18%
GLDA.L vs. SPGP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GLDA.L Amundi Physical Gold ETC (C) | 3.18% | 53.56% | 28.19% | 7.26% | 12.68% | -3.12% | -2.69% |
SPGP.L iShares Gold Producers UCITS ETF | 0.82% | 137.41% | 12.81% | 3.72% | -0.45% | -9.15% | -8.46% |
Correlation
The correlation between GLDA.L and SPGP.L is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since May 19, 2020 | 0.59 |
The correlation between GLDA.L and SPGP.L shifts across timeframes, from 0.58 (all time) to 0.76 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GLDA.L vs. SPGP.L — Risk / Return Rank
GLDA.L
SPGP.L
GLDA.L vs. SPGP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Physical Gold ETC (C) (GLDA.L) and iShares Gold Producers UCITS ETF (SPGP.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 | SPGP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.27 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | 2.31 | -0.46 |
| Martin ratioReturn relative to average drawdown | 5.02 | 5.97 | -0.94 |
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 | SPGP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.41 | 1.58 | -0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.40 | 0.63 | +0.77 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.47 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.06 | 0.12 | +0.94 |
Drawdowns
GLDA.L vs. SPGP.L - Drawdown Comparison
The maximum GLDA.L drawdown since its inception was -21.57%, smaller than the maximum SPGP.L drawdown of -79.54%. Use the drawdown chart below to compare losses from any high point for GLDA.L and SPGP.L.
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Drawdown Indicators
| GLDA.L | SPGP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.57% | -79.54% | +57.97% |
Max Drawdown (1Y)Largest decline over 1 year | -17.90% | -27.66% | +9.76% |
Max Drawdown (3Y)Largest decline over 3 years | -17.90% | -27.66% | +9.76% |
Max Drawdown (5Y)Largest decline over 5 years | -17.90% | -34.81% | +16.91% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.71% | — |
Current DrawdownCurrent decline from peak | -16.61% | -24.50% | +7.89% |
Average DrawdownAverage peak-to-trough decline | -5.40% | -42.31% | +36.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.59% | 10.71% | -4.12% |
Volatility
GLDA.L vs. SPGP.L - Volatility Comparison
The current volatility for Amundi Physical Gold ETC (C) (GLDA.L) is 5.18%, while iShares Gold Producers UCITS ETF (SPGP.L) has a volatility of 13.09%. This indicates that GLDA.L experiences smaller price fluctuations and is considered to be less risky than SPGP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GLDA.L | SPGP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.18% | 13.09% | -7.91% |
Volatility (6M)Calculated over the trailing 6-month period | 20.40% | 32.24% | -11.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.46% | 40.30% | -16.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.66% | 31.56% | -13.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.02% | 32.32% | -14.30% |
GLDA.L vs. SPGP.L - Expense Ratio Comparison
GLDA.L has a 0.12% expense ratio, which is lower than SPGP.L's 0.55% expense ratio.
Dividends
GLDA.L vs. SPGP.L - Dividend Comparison
Neither GLDA.L nor SPGP.L has paid dividends to shareholders.
Frequently Asked Questions
GLDA.L and SPGP.L have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 0.55% for SPGP.L.
GLDA.L tracks Gold, while SPGP.L tracks EMIX Global Mining Global Gold TR USD. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.12% for GLDA.L and 0.55% for SPGP.L.
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