IEFM.L vs. SGLN.L
IEFM.L (iShares Edge MSCI Europe Momentum Factor UCITS ETF) and SGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - IEFM.L is a Momentum fund tracking the MSCI Europe Momentum Index, while SGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, IEFM.L returned 12.41%/yr vs 14.27%/yr for SGLN.L. At a 0.09 correlation, their price movements are largely independent. IEFM.L charges 0.25%/yr vs 0.12%/yr for SGLN.L.
Performance
IEFM.L vs. SGLN.L - Performance Comparison
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Returns By Period
In the year-to-date period, IEFM.L achieves a 6.92% return, which is significantly higher than SGLN.L's 3.89% return. Over the past 10 years, IEFM.L has underperformed SGLN.L with an annualized return of 12.41%, while SGLN.L has yielded a comparatively higher 14.27% annualized return.
IEFM.L
- 1D
- -0.17%
- 1M
- 2.97%
- YTD
- 6.92%
- 6M
- 10.23%
- 1Y
- 20.60%
- 3Y*
- 20.30%
- 5Y*
- 11.50%
- 10Y*
- 12.41%
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%
IEFM.L vs. SGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEFM.L iShares Edge MSCI Europe Momentum Factor UCITS ETF | 6.92% | 33.05% | 15.03% | 10.37% | -9.80% | 14.07% | 17.04% | 23.39% | -9.90% | 16.64% |
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 IEFM.L and SGLN.L is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jan 20, 2015 | 0.09 |
The correlation between IEFM.L and SGLN.L shifts across timeframes, from 0.04 (5 years) to 0.19 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IEFM.L vs. SGLN.L — Risk / Return Rank
IEFM.L
SGLN.L
IEFM.L vs. SGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.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.
| IEFM.L | SGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.29 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | 1.91 | -0.45 |
| Martin ratioReturn relative to average drawdown | 3.55 | 5.05 | -1.50 |
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
| IEFM.L | SGLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.82 | 1.45 | -0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | 1.23 | -0.59 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | 0.90 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.55 | +0.13 |
Drawdowns
IEFM.L vs. SGLN.L - Drawdown Comparison
The maximum IEFM.L drawdown since its inception was -23.88%, smaller than the maximum SGLN.L drawdown of -41.71%. Use the drawdown chart below to compare losses from any high point for IEFM.L and SGLN.L.
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Drawdown Indicators
| IEFM.L | SGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.88% | -41.71% | +17.83% |
Max Drawdown (1Y)Largest decline over 1 year | -14.04% | -17.57% | +3.53% |
Max Drawdown (3Y)Largest decline over 3 years | -14.04% | -17.57% | +3.53% |
Max Drawdown (5Y)Largest decline over 5 years | -21.33% | -17.57% | -3.76% |
Max Drawdown (10Y)Largest decline over 10 years | -23.88% | -21.91% | -1.97% |
Current DrawdownCurrent decline from peak | -1.75% | -16.01% | +14.26% |
Average DrawdownAverage peak-to-trough decline | -5.23% | -14.76% | +9.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.79% | 6.67% | -0.88% |
Volatility
IEFM.L vs. SGLN.L - Volatility Comparison
The current volatility for iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.L) is 3.99%, while iShares Physical Gold ETC (SGLN.L) has a volatility of 5.08%. This indicates that IEFM.L experiences smaller price fluctuations and is considered to be less risky than SGLN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEFM.L | SGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.99% | 5.08% | -1.09% |
Volatility (6M)Calculated over the trailing 6-month period | 13.91% | 20.08% | -6.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.98% | 23.19% | +1.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.82% | 16.30% | +1.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.03% | 15.78% | +1.25% |
IEFM.L vs. SGLN.L - Expense Ratio Comparison
IEFM.L has a 0.25% expense ratio, which is higher than SGLN.L's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IEFM.L vs. SGLN.L - Dividend Comparison
Neither IEFM.L nor SGLN.L has paid dividends to shareholders.
Frequently Asked Questions
IEFM.L and SGLN.L have a correlation of 0.19, 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 0.25% for IEFM.L.
IEFM.L is categorized as Momentum, while SGLN.L is Gold. IEFM.L tracks MSCI Europe Momentum Index, while SGLN.L tracks LBMA Gold Price. Their fees differ too: 0.25% for IEFM.L and 0.12% for SGLN.L.
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