IBZL.L vs. SGLN.L
IBZL.L (iShares MSCI Brazil UCITS ETF (Dist)) and SGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - IBZL.L is a Latin America Equities fund tracking the MSCI Brazil NR USD, while SGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, IBZL.L returned 9.70%/yr vs 14.27%/yr for SGLN.L. At a 0.10 correlation, their price movements are largely independent. IBZL.L charges 0.74%/yr vs 0.12%/yr for SGLN.L.
Performance
IBZL.L vs. SGLN.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IBZL.L achieves a 10.16% return, which is significantly higher than SGLN.L's 3.89% return. Over the past 10 years, IBZL.L has underperformed SGLN.L with an annualized return of 9.70%, while SGLN.L has yielded a comparatively higher 14.27% annualized return.
IBZL.L
- 1D
- 0.18%
- 1M
- -12.01%
- YTD
- 10.16%
- 6M
- 3.73%
- 1Y
- 36.12%
- 3Y*
- 9.39%
- 5Y*
- 8.43%
- 10Y*
- 9.70%
SGLN.L
- 1D
- 0.70%
- 1M
- -1.36%
- YTD
- 3.89%
- 6M
- 5.42%
- 1Y
- 33.75%
- 3Y*
- 28.17%
- 5Y*
- 20.12%
- 10Y*
- 14.27%
IBZL.L vs. SGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBZL.L iShares MSCI Brazil UCITS ETF (Dist) | 10.16% | 38.28% | -26.04% | 25.61% | 32.04% | -19.06% | -16.73% | 15.40% | 3.61% | 14.78% |
SGLN.L iShares Physical Gold ETC | 3.89% | 53.66% | 28.20% | 7.24% | 11.84% | -2.57% | 19.62% | 14.63% | 4.36% | 1.68% |
Correlation
The correlation between IBZL.L and SGLN.L is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2011 | 0.10 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IBZL.L vs. SGLN.L — Risk / Return Rank
IBZL.L
SGLN.L
IBZL.L vs. SGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L) and iShares Physical Gold ETC (SGLN.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.
| IBZL.L | SGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.29 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 1.91 | +0.26 |
| Martin ratioReturn relative to average drawdown | 7.39 | 5.05 | +2.35 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IBZL.L | SGLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.69 | 1.45 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | 1.23 | -0.91 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | 0.90 | -0.59 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.55 | -0.34 |
Drawdowns
IBZL.L vs. SGLN.L - Drawdown Comparison
The maximum IBZL.L drawdown since its inception was -69.44%, which is greater than SGLN.L's maximum drawdown of -41.71%. Use the drawdown chart below to compare losses from any high point for IBZL.L and SGLN.L.
Loading charts...
Drawdown Indicators
| IBZL.L | SGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.44% | -41.71% | -27.73% |
Max Drawdown (1Y)Largest decline over 1 year | -16.58% | -17.57% | +0.99% |
Max Drawdown (3Y)Largest decline over 3 years | -27.68% | -17.57% | -10.11% |
Max Drawdown (5Y)Largest decline over 5 years | -28.21% | -17.57% | -10.64% |
Max Drawdown (10Y)Largest decline over 10 years | -51.77% | -21.91% | -29.86% |
Current DrawdownCurrent decline from peak | -16.43% | -16.01% | -0.42% |
Average DrawdownAverage peak-to-trough decline | -21.85% | -14.76% | -7.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.87% | 6.67% | -1.80% |
Volatility
IBZL.L vs. SGLN.L - Volatility Comparison
iShares MSCI Brazil UCITS ETF (Dist) (IBZL.L) has a higher volatility of 5.42% compared to iShares Physical Gold ETC (SGLN.L) at 5.08%. This indicates that IBZL.L's price experiences larger fluctuations and is considered to be riskier than SGLN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IBZL.L | SGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.42% | 5.08% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 17.53% | 20.08% | -2.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.29% | 23.19% | -1.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.40% | 16.30% | +10.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.47% | 15.78% | +15.69% |
IBZL.L vs. SGLN.L - Expense Ratio Comparison
IBZL.L has a 0.74% expense ratio, which is higher than SGLN.L's 0.12% expense ratio.
Dividends
IBZL.L vs. SGLN.L - Dividend Comparison
IBZL.L's dividend yield for the trailing twelve months is around 5.82%, while SGLN.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBZL.L iShares MSCI Brazil UCITS ETF (Dist) | 5.82% | 5.74% | 8.31% | 6.83% | 16.49% | 8.64% | 2.44% | 3.28% | 3.31% | 1.86% | 2.24% | 5.42% |
SGLN.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
IBZL.L and SGLN.L have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGLN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGLN.L is cheaper with a 0.12% expense ratio, compared with 0.74% for IBZL.L.
IBZL.L is categorized as Latin America Equities, while SGLN.L is Gold. IBZL.L tracks MSCI Brazil NR USD, while SGLN.L tracks LBMA Gold Price. Their fees differ too: 0.74% for IBZL.L and 0.12% for SGLN.L.
Find the right allocation for IBZL.L and SGLN.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer