IAEX.L vs. IGLN.L
IAEX.L (iShares AEX UCITS ETF EUR (Dist)) and IGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - IAEX.L is a Europe Equities fund tracking the Euronext AEX All Share TR EUR, while IGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, IAEX.L returned 12.93%/yr vs 14.18%/yr for IGLN.L. At a 0.06 correlation, their price movements are largely independent. IAEX.L charges 0.30%/yr vs 0.25%/yr for IGLN.L.
Performance
IAEX.L vs. IGLN.L - Performance Comparison
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Different Trading Currencies
IAEX.L is traded in GBp, while IGLN.L is traded in USD. To make them comparable, the IGLN.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IAEX.L achieves a 10.82% return, which is significantly higher than IGLN.L's 3.39% return. Over the past 10 years, IAEX.L has underperformed IGLN.L with an annualized return of 12.93%, while IGLN.L has yielded a comparatively higher 14.18% annualized return.
IAEX.L
- 1D
- 0.41%
- 1M
- 4.18%
- YTD
- 10.82%
- 6M
- 10.84%
- 1Y
- 19.37%
- 3Y*
- 14.11%
- 5Y*
- 10.66%
- 10Y*
- 12.93%
IGLN.L
- 1D
- 0.00%
- 1M
- -2.15%
- YTD
- 3.39%
- 6M
- 4.55%
- 1Y
- 32.71%
- 3Y*
- 27.94%
- 5Y*
- 19.72%
- 10Y*
- 14.18%
IAEX.L vs. IGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAEX.L iShares AEX UCITS ETF EUR (Dist) | 10.82% | 16.56% | 9.02% | 14.52% | -5.93% | 21.34% | 11.18% | 22.17% | -7.39% | 21.31% |
IGLN.L iShares Physical Gold ETC | 4.12% | 53.17% | 28.35% | 7.77% | 11.79% | -3.12% | 20.51% | 13.78% | 4.54% | 2.01% |
Correlation
The correlation between IAEX.L and IGLN.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 | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2011 | 0.06 |
The correlation between IAEX.L and IGLN.L shifts across timeframes, from 0.03 (5 years) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IAEX.L vs. IGLN.L — Risk / Return Rank
IAEX.L
IGLN.L
IAEX.L vs. IGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares AEX UCITS ETF EUR (Dist) (IAEX.L) and iShares Physical Gold ETC (IGLN.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.
| IAEX.L | IGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.27 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 1.86 | +0.71 |
| Martin ratioReturn relative to average drawdown | 7.46 | 4.95 | +2.51 |
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
| IAEX.L | IGLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.53 | 1.35 | +0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.70 | 1.17 | -0.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | 0.87 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.52 | -0.27 |
Drawdowns
IAEX.L vs. IGLN.L - Drawdown Comparison
The maximum IAEX.L drawdown since its inception was -63.69%, which is greater than IGLN.L's maximum drawdown of -41.86%. Use the drawdown chart below to compare losses from any high point for IAEX.L and IGLN.L.
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Drawdown Indicators
| IAEX.L | IGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.69% | -41.86% | -21.83% |
Max Drawdown (1Y)Largest decline over 1 year | -7.50% | -17.53% | +10.03% |
Max Drawdown (3Y)Largest decline over 3 years | -12.75% | -17.53% | +4.78% |
Max Drawdown (5Y)Largest decline over 5 years | -21.90% | -17.53% | -4.37% |
Max Drawdown (10Y)Largest decline over 10 years | -28.83% | -22.37% | -6.46% |
Current DrawdownCurrent decline from peak | 0.00% | -16.35% | +16.35% |
Average DrawdownAverage peak-to-trough decline | -16.55% | -14.94% | -1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 6.59% | -4.00% |
Volatility
IAEX.L vs. IGLN.L - Volatility Comparison
The current volatility for iShares AEX UCITS ETF EUR (Dist) (IAEX.L) is 3.47%, while iShares Physical Gold ETC (IGLN.L) has a volatility of 5.98%. This indicates that IAEX.L experiences smaller price fluctuations and is considered to be less risky than IGLN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAEX.L | IGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.47% | 5.98% | -2.51% |
Volatility (6M)Calculated over the trailing 6-month period | 10.12% | 21.12% | -11.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.63% | 24.08% | -11.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.16% | 16.81% | -1.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.22% | 16.35% | +0.87% |
IAEX.L vs. IGLN.L - Expense Ratio Comparison
IAEX.L has a 0.30% expense ratio, which is higher than IGLN.L's 0.25% expense ratio.
Dividends
IAEX.L vs. IGLN.L - Dividend Comparison
IAEX.L's dividend yield for the trailing twelve months is around 2.12%, while IGLN.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAEX.L iShares AEX UCITS ETF EUR (Dist) | 2.12% | 2.37% | 2.57% | 2.43% | 2.56% | 1.84% | 1.57% | 3.29% | 3.54% | 3.09% | 3.34% | 3.94% |
IGLN.L iShares Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IAEX.L and IGLN.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, IGLN.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLN.L is cheaper with a 0.25% expense ratio, compared with 0.30% for IAEX.L.
IAEX.L is categorized as Europe Equities, while IGLN.L is Gold. IAEX.L tracks Euronext AEX All Share TR EUR, while IGLN.L tracks LBMA Gold Price. Their fees differ too: 0.30% for IAEX.L and 0.25% for IGLN.L.
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