IAUP.L vs. XGDU.L
IAUP.L (iShares Gold Producers UCITS ETF USD Acc) and XGDU.L (Xtrackers IE Physical Gold ETC Securities) are both Gold funds - IAUP.L tracks the S&P Commodity Producers Gold Index while XGDU.L tracks the Gold. Both are passively managed. Over the past 5 years, IAUP.L returned 17.82%/yr vs 17.32%/yr for XGDU.L. A 0.78 correlation means they provide meaningful diversification when combined. IAUP.L charges 0.55%/yr vs 0.12%/yr for XGDU.L.
Performance
IAUP.L vs. XGDU.L - Performance Comparison
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Returns By Period
In the year-to-date period, IAUP.L achieves a -13.19% return, which is significantly lower than XGDU.L's -6.05% return.
IAUP.L
- 1D
- -2.74%
- 1M
- -14.44%
- 6M
- -22.89%
- YTD
- -13.19%
- 1Y
- 45.20%
- 3Y*
- 33.84%
- 5Y*
- 17.82%
- 10Y*
- 10.57%
XGDU.L
- 1D
- -0.88%
- 1M
- -7.01%
- 6M
- -12.45%
- YTD
- -6.05%
- 1Y
- 21.29%
- 3Y*
- 27.23%
- 5Y*
- 17.32%
- 10Y*
- —
IAUP.L vs. XGDU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IAUP.L iShares Gold Producers UCITS ETF USD Acc | -13.19% | 153.99% | 11.49% | 9.43% | -11.06% | -10.31% | 21.26% |
XGDU.L Xtrackers IE Physical Gold ETC Securities | -6.05% | 64.73% | 26.19% | 13.45% | -0.09% | -4.08% | 10.70% |
Correlation
The correlation between IAUP.L and XGDU.L is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Apr 22, 2020 | 0.78 |
The correlation between IAUP.L and XGDU.L has been stable across timeframes, ranging from 0.78 to 0.83 - a consistent structural relationship.
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Return for Risk
IAUP.L vs. XGDU.L — Risk / Return Rank
IAUP.L
XGDU.L
IAUP.L vs. XGDU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Producers UCITS ETF USD Acc (IAUP.L) and Xtrackers IE Physical Gold ETC Securities (XGDU.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.
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.
| IAUP.L | XGDU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.16 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 0.86 | +0.37 |
| Martin ratioReturn relative to average drawdown | 2.94 | 2.11 | +0.83 |
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Drawdowns
IAUP.L vs. XGDU.L - Drawdown Comparison
The maximum IAUP.L drawdown since its inception was -79.88%, which is greater than XGDU.L's maximum drawdown of -24.55%. Use the drawdown chart below to compare losses from any high point for IAUP.L and XGDU.L.
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Drawdown Indicators
| IAUP.L | XGDU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.88% | -24.55% | -55.33% |
Max Drawdown (1Y)Largest decline over 1 year | -36.39% | -24.55% | -11.84% |
Max Drawdown (3Y)Largest decline over 3 years | -36.39% | -24.55% | -11.84% |
Max Drawdown (5Y)Largest decline over 5 years | -44.90% | -24.55% | -20.35% |
Max Drawdown (10Y)Largest decline over 10 years | -51.26% | — | — |
Current DrawdownCurrent decline from peak | -35.11% | -23.78% | -11.33% |
Average DrawdownAverage peak-to-trough decline | -48.57% | -7.45% | -41.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.33% | 10.06% | +5.27% |
Volatility
IAUP.L vs. XGDU.L - Volatility Comparison
iShares Gold Producers UCITS ETF USD Acc (IAUP.L) has a higher volatility of 15.38% compared to Xtrackers IE Physical Gold ETC Securities (XGDU.L) at 7.58%. This indicates that IAUP.L's price experiences larger fluctuations and is considered to be riskier than XGDU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAUP.L | XGDU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.38% | 7.58% | +7.80% |
Volatility (6M)Calculated over the trailing 6-month period | 38.05% | 23.13% | +14.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.86% | 26.47% | +20.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.26% | 17.73% | +18.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.92% | 17.46% | +17.46% |
IAUP.L vs. XGDU.L - Expense Ratio Comparison
IAUP.L has a 0.55% expense ratio, which is higher than XGDU.L's 0.12% expense ratio.
Dividends
IAUP.L vs. XGDU.L - Dividend Comparison
Neither IAUP.L nor XGDU.L has paid dividends to shareholders.
Frequently Asked Questions
IAUP.L and XGDU.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XGDU.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XGDU.L is cheaper with a 0.12% expense ratio, compared with 0.55% for IAUP.L.
IAUP.L tracks S&P Commodity Producers Gold Index, while XGDU.L tracks Gold. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.55% for IAUP.L and 0.12% for XGDU.L.
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