IEMD.L vs. IGLN.L
IEMD.L (iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist)) and IGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - IEMD.L is a Momentum fund tracking the MSCI Europe Momentum Index, while IGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 5 years, IEMD.L returned 11.34%/yr vs 19.57%/yr for IGLN.L. At a 0.05 correlation, their price movements are largely independent. Both charge a 0.25% expense ratio.
Performance
IEMD.L vs. IGLN.L - Performance Comparison
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Different Trading Currencies
IEMD.L is traded in EUR, while IGLN.L is traded in USD. To make them comparable, the IGLN.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IEMD.L achieves a 8.04% return, which is significantly higher than IGLN.L's 4.24% return.
IEMD.L
- 1D
- -0.30%
- 1M
- 2.61%
- YTD
- 8.04%
- 6M
- 11.36%
- 1Y
- 17.49%
- 3Y*
- 20.17%
- 5Y*
- 11.34%
- 10Y*
- —
IGLN.L
- 1D
- 0.00%
- 1M
- -2.30%
- YTD
- 4.24%
- 6M
- 5.66%
- 1Y
- 29.35%
- 3Y*
- 27.79%
- 5Y*
- 19.57%
- 10Y*
- 13.10%
IEMD.L vs. IGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IEMD.L iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist) | 8.04% | 26.34% | 20.48% | 12.54% | -14.50% | 21.92% | 10.99% | 29.63% | -9.29% |
IGLN.L iShares Physical Gold ETC | 4.88% | 45.35% | 34.47% | 10.04% | 6.10% | 3.15% | 13.92% | 20.96% | 3.28% |
Correlation
The correlation between IEMD.L and IGLN.L is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2018 | 0.05 |
The correlation between IEMD.L and IGLN.L shifts across timeframes, from 0.05 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IEMD.L vs. IGLN.L — Risk / Return Rank
IEMD.L
IGLN.L
IEMD.L vs. IGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist) (IEMD.L) and iShares Physical Gold ETC (IGLN.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.
| IEMD.L | IGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.24 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.51 | 1.74 | -0.23 |
| Martin ratioReturn relative to average drawdown | 5.57 | 4.46 | +1.11 |
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
| IEMD.L | IGLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 1.21 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.70 | 1.17 | -0.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.86 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.70 | 0.55 | +0.15 |
Drawdowns
IEMD.L vs. IGLN.L - Drawdown Comparison
The maximum IEMD.L drawdown since its inception was -30.77%, smaller than the maximum IGLN.L drawdown of -36.98%. Use the drawdown chart below to compare losses from any high point for IEMD.L and IGLN.L.
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Drawdown Indicators
| IEMD.L | IGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.77% | -36.98% | +6.21% |
Max Drawdown (1Y)Largest decline over 1 year | -11.53% | -16.82% | +5.29% |
Max Drawdown (3Y)Largest decline over 3 years | -15.64% | -16.82% | +1.18% |
Max Drawdown (5Y)Largest decline over 5 years | -23.73% | -16.82% | -6.91% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.24% | — |
Current DrawdownCurrent decline from peak | -1.00% | -15.63% | +14.63% |
Average DrawdownAverage peak-to-trough decline | -5.91% | -13.22% | +7.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.13% | 6.57% | -3.44% |
Volatility
IEMD.L vs. IGLN.L - Volatility Comparison
The current volatility for iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist) (IEMD.L) is 4.68%, while iShares Physical Gold ETC (IGLN.L) has a volatility of 5.84%. This indicates that IEMD.L experiences smaller price fluctuations and is considered to be less risky than IGLN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEMD.L | IGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.68% | 5.84% | -1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 14.14% | 21.17% | -7.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.56% | 24.06% | -7.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.11% | 16.72% | -0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.82% | 15.13% | +1.69% |
IEMD.L vs. IGLN.L - Expense Ratio Comparison
Both IEMD.L and IGLN.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IEMD.L vs. IGLN.L - Dividend Comparison
IEMD.L's dividend yield for the trailing twelve months is around 1.71%, while IGLN.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IEMD.L iShares Edge MSCI Europe Momentum Factor UCITS ETF EUR (Dist) | 1.71% | 1.85% | 2.70% | 2.78% | 2.90% | 1.77% | 1.36% | 2.00% | 2.51% |
IGLN.L iShares Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IEMD.L and IGLN.L have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IEMD.L and IGLN.L have the same expense ratio: 0.25% per year.
IEMD.L is categorized as Momentum, while IGLN.L is Gold. IEMD.L tracks MSCI Europe Momentum Index, while IGLN.L tracks LBMA Gold Price.
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