ICLU.L vs. SGLS.L
ICLU.L (Invesco USD AAA CLO UCITS ETF Acc) and SGLS.L (Invesco Physical Gold GBP Hedged ETC) are both exchange-traded funds - ICLU.L is a CLO fund actively managed by Invesco, while SGLS.L is a Precious Metals fund tracking the Gold (GBP Hedged). ICLU.L is actively managed, while SGLS.L is passively managed. Over the past year, ICLU.L returned 5.34% vs 30.05% for SGLS.L. At a 0.06 correlation, their price movements are largely independent. ICLU.L charges 0.25%/yr vs 0.34%/yr for SGLS.L.
Performance
ICLU.L vs. SGLS.L - Performance Comparison
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Different Trading Currencies
ICLU.L is traded in USD, while SGLS.L is traded in GBp. To make them comparable, the SGLS.L values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with ICLU.L having a 2.17% return and SGLS.L slightly lower at 2.13%.
ICLU.L
- 1D
- 0.00%
- 1M
- 0.47%
- YTD
- 2.17%
- 6M
- 2.52%
- 1Y
- 5.34%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SGLS.L
- 1D
- -1.63%
- 1M
- -5.31%
- YTD
- 2.13%
- 6M
- 5.03%
- 1Y
- 30.05%
- 3Y*
- 32.35%
- 5Y*
- 15.96%
- 10Y*
- —
ICLU.L vs. SGLS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ICLU.L Invesco USD AAA CLO UCITS ETF Acc | 2.17% | 4.23% |
SGLS.L Invesco Physical Gold GBP Hedged ETC | 2.13% | 59.71% |
Correlation
The correlation between ICLU.L and SGLS.L is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2025 | 0.06 |
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Return for Risk
ICLU.L vs. SGLS.L — Risk / Return Rank
ICLU.L
SGLS.L
ICLU.L vs. SGLS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco USD AAA CLO UCITS ETF Acc (ICLU.L) and Invesco Physical Gold GBP Hedged ETC (SGLS.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.
| ICLU.L | SGLS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.11 | ||
| Sortino ratioReturn per unit of downside risk | +4.80 | ||
| Omega ratioGain probability vs. loss probability | 2.27 | 1.21 | +1.07 |
| Calmar ratioReturn relative to maximum drawdown | 8.47 | 1.48 | +6.99 |
| Martin ratioReturn relative to average drawdown | 39.67 | 3.70 | +35.98 |
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
| ICLU.L | SGLS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.22 | 1.11 | +3.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.79 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.37 | 0.75 | +2.61 |
Drawdowns
ICLU.L vs. SGLS.L - Drawdown Comparison
The maximum ICLU.L drawdown since its inception was -0.91%, smaller than the maximum SGLS.L drawdown of -37.85%. Use the drawdown chart below to compare losses from any high point for ICLU.L and SGLS.L.
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Drawdown Indicators
| ICLU.L | SGLS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.91% | -37.85% | +36.94% |
Max Drawdown (1Y)Largest decline over 1 year | -0.63% | -20.20% | +19.57% |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.20% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -35.79% | — |
Current DrawdownCurrent decline from peak | 0.00% | -18.82% | +18.82% |
Average DrawdownAverage peak-to-trough decline | -0.08% | -10.14% | +10.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.13% | 8.11% | -7.98% |
Volatility
ICLU.L vs. SGLS.L - Volatility Comparison
The current volatility for Invesco USD AAA CLO UCITS ETF Acc (ICLU.L) is 0.19%, while Invesco Physical Gold GBP Hedged ETC (SGLS.L) has a volatility of 7.27%. This indicates that ICLU.L experiences smaller price fluctuations and is considered to be less risky than SGLS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICLU.L | SGLS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.19% | 7.27% | -7.08% |
Volatility (6M)Calculated over the trailing 6-month period | 0.82% | 23.31% | -22.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.26% | 27.02% | -25.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.46% | 22.36% | -20.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.46% | 22.82% | -21.36% |
ICLU.L vs. SGLS.L - Expense Ratio Comparison
ICLU.L has a 0.25% expense ratio, which is lower than SGLS.L's 0.34% expense ratio.
Dividends
ICLU.L vs. SGLS.L - Dividend Comparison
Neither ICLU.L nor SGLS.L has paid dividends to shareholders.
Frequently Asked Questions
ICLU.L and SGLS.L have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICLU.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICLU.L is cheaper with a 0.25% expense ratio, compared with 0.34% for SGLS.L.
ICLU.L is categorized as CLO, while SGLS.L is Precious Metals. Their fees differ too: 0.25% for ICLU.L and 0.34% for SGLS.L.
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