IAU vs. SPGP.L
Compare and contrast key facts about iShares Gold Trust (IAU) and iShares Gold Producers UCITS ETF (SPGP.L).
IAU and SPGP.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IAU is a passively managed fund by iShares that tracks the performance of the LBMA Gold Price. It was launched on Jan 21, 2005. SPGP.L is a passively managed fund by iShares that tracks the performance of the EMIX Global Mining Global Gold TR USD. It was launched on Sep 16, 2011. Both IAU and SPGP.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
IAU vs. SPGP.L - Performance Comparison
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IAU vs. SPGP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | 10.48% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
SPGP.L iShares Gold Producers UCITS ETF | 13.86% | 155.33% | 10.93% | 9.19% | -11.09% | -9.98% | 23.09% | 46.66% | -9.78% | 6.45% |
Different Trading Currencies
IAU is traded in USD, while SPGP.L is traded in GBp. To make them comparable, the SPGP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IAU achieves a 10.48% return, which is significantly lower than SPGP.L's 13.86% return. Over the past 10 years, IAU has underperformed SPGP.L with an annualized return of 14.27%, while SPGP.L has yielded a comparatively higher 18.32% annualized return.
IAU
- 1D
- 1.72%
- 1M
- -10.66%
- YTD
- 10.48%
- 6M
- 23.05%
- 1Y
- 52.36%
- 3Y*
- 33.88%
- 5Y*
- 22.19%
- 10Y*
- 14.27%
SPGP.L
- 1D
- 7.82%
- 1M
- -13.88%
- YTD
- 13.86%
- 6M
- 26.20%
- 1Y
- 111.65%
- 3Y*
- 46.68%
- 5Y*
- 25.25%
- 10Y*
- 18.32%
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IAU vs. SPGP.L - Expense Ratio Comparison
IAU has a 0.25% expense ratio, which is lower than SPGP.L's 0.55% expense ratio.
Return for Risk
IAU vs. SPGP.L — Risk / Return Rank
IAU
SPGP.L
IAU vs. SPGP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Trust (IAU) 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.
| IAU | SPGP.L | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.90 | 2.56 | -0.65 |
Sortino ratioReturn per unit of downside risk | 2.33 | 2.82 | -0.49 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.38 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 2.72 | 3.91 | -1.20 |
Martin ratioReturn relative to average drawdown | 9.95 | 13.67 | -3.71 |
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
| IAU | SPGP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.90 | 2.56 | -0.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.26 | 0.74 | +0.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.90 | 0.54 | +0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.11 | +0.54 |
Correlation
The correlation between IAU and SPGP.L is 0.63, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
IAU vs. SPGP.L - Dividend Comparison
Neither IAU nor SPGP.L has paid dividends to shareholders.
Drawdowns
IAU vs. SPGP.L - Drawdown Comparison
The maximum IAU drawdown since its inception was -45.14%, smaller than the maximum SPGP.L drawdown of -79.86%. Use the drawdown chart below to compare losses from any high point for IAU and SPGP.L.
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Drawdown Indicators
| IAU | SPGP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.14% | -79.54% | +34.40% |
Max Drawdown (1Y)Largest decline over 1 year | -19.18% | -27.66% | +8.48% |
Max Drawdown (5Y)Largest decline over 5 years | -20.93% | -34.81% | +13.88% |
Max Drawdown (10Y)Largest decline over 10 years | -21.82% | -43.71% | +21.89% |
Current DrawdownCurrent decline from peak | -11.71% | -13.76% | +2.05% |
Average DrawdownAverage peak-to-trough decline | -15.98% | -42.57% | +26.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.23% | 7.63% | -2.40% |
Volatility
IAU vs. SPGP.L - Volatility Comparison
The current volatility for iShares Gold Trust (IAU) is 10.44%, while iShares Gold Producers UCITS ETF (SPGP.L) has a volatility of 17.71%. This indicates that IAU 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
| IAU | SPGP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.44% | 17.71% | -7.27% |
Volatility (6M)Calculated over the trailing 6-month period | 24.15% | 35.15% | -11.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.64% | 43.42% | -15.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.70% | 33.99% | -16.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.83% | 34.16% | -18.33% |