IGBE.L vs. SGLP.L
IGBE.L (Invesco GBP Corporate Bond ESG UCITS ETF Dist) and SGLP.L (Invesco Physical Gold A) are both exchange-traded funds - IGBE.L is a European Corporate Bonds fund tracking the Markit iBoxx GBP NonGilts TR, while SGLP.L is a Precious Metals fund tracking the Gold. Both are passively managed. Over the past 5 years, IGBE.L returned -0.35%/yr vs 19.87%/yr for SGLP.L. At a 0.19 correlation, their price movements are largely independent. IGBE.L charges 0.10%/yr vs 0.12%/yr for SGLP.L.
Performance
IGBE.L vs. SGLP.L - Performance Comparison
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Returns By Period
In the year-to-date period, IGBE.L achieves a -0.20% return, which is significantly lower than SGLP.L's 3.97% return.
IGBE.L
- 1D
- 0.05%
- 1M
- 1.80%
- YTD
- -0.20%
- 6M
- 0.18%
- 1Y
- 4.79%
- 3Y*
- 6.33%
- 5Y*
- -0.35%
- 10Y*
- —
SGLP.L
- 1D
- 0.70%
- 1M
- -3.54%
- YTD
- 3.97%
- 6M
- 5.23%
- 1Y
- 34.67%
- 3Y*
- 28.15%
- 5Y*
- 19.87%
- 10Y*
- 14.26%
IGBE.L vs. SGLP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IGBE.L Invesco GBP Corporate Bond ESG UCITS ETF Dist | -0.20% | 7.23% | 2.45% | 9.16% | -18.23% | -3.62% | 6.31% |
SGLP.L Invesco Physical Gold A | 3.97% | 53.60% | 28.14% | 7.26% | 11.83% | -2.88% | 9.36% |
Correlation
The correlation between IGBE.L and SGLP.L is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2020 | 0.19 |
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Return for Risk
IGBE.L vs. SGLP.L — Risk / Return Rank
IGBE.L
SGLP.L
IGBE.L vs. SGLP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco GBP Corporate Bond ESG UCITS ETF Dist (IGBE.L) and Invesco Physical Gold A (SGLP.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.
| IGBE.L | SGLP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.29 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 1.88 | -0.64 |
| Martin ratioReturn relative to average drawdown | 3.81 | 5.06 | -1.25 |
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
| IGBE.L | SGLP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.95 | 1.46 | -0.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.05 | 1.23 | -1.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.91 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.01 | 0.53 | -0.53 |
Drawdowns
IGBE.L vs. SGLP.L - Drawdown Comparison
The maximum IGBE.L drawdown since its inception was -30.19%, smaller than the maximum SGLP.L drawdown of -38.83%. Use the drawdown chart below to compare losses from any high point for IGBE.L and SGLP.L.
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Drawdown Indicators
| IGBE.L | SGLP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.19% | -38.83% | +8.64% |
Max Drawdown (1Y)Largest decline over 1 year | -3.86% | -17.89% | +14.03% |
Max Drawdown (3Y)Largest decline over 3 years | -3.86% | -17.89% | +14.03% |
Max Drawdown (5Y)Largest decline over 5 years | -29.11% | -17.89% | -11.22% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.34% | — |
Current DrawdownCurrent decline from peak | -6.10% | -15.97% | +9.87% |
Average DrawdownAverage peak-to-trough decline | -10.79% | -13.37% | +2.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 6.65% | -5.40% |
Volatility
IGBE.L vs. SGLP.L - Volatility Comparison
The current volatility for Invesco GBP Corporate Bond ESG UCITS ETF Dist (IGBE.L) is 1.97%, while Invesco Physical Gold A (SGLP.L) has a volatility of 5.10%. This indicates that IGBE.L experiences smaller price fluctuations and is considered to be less risky than SGLP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGBE.L | SGLP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.97% | 5.10% | -3.13% |
Volatility (6M)Calculated over the trailing 6-month period | 4.20% | 19.90% | -15.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.03% | 23.02% | -17.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.44% | 16.11% | -8.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.62% | 15.72% | -8.10% |
IGBE.L vs. SGLP.L - Expense Ratio Comparison
IGBE.L has a 0.10% expense ratio, which is lower than SGLP.L's 0.12% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IGBE.L vs. SGLP.L - Dividend Comparison
IGBE.L's dividend yield for the trailing twelve months is around 4.93%, while SGLP.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
IGBE.L Invesco GBP Corporate Bond ESG UCITS ETF Dist | 4.93% | 4.81% | 4.59% | 3.85% | 2.47% | 1.76% | 1.31% |
SGLP.L Invesco Physical Gold A | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IGBE.L and SGLP.L have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGBE.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGBE.L is cheaper with a 0.10% expense ratio, compared with 0.12% for SGLP.L.
IGBE.L is categorized as European Corporate Bonds, while SGLP.L is Precious Metals. IGBE.L tracks Markit iBoxx GBP NonGilts TR, while SGLP.L tracks Gold. Their fees differ too: 0.10% for IGBE.L and 0.12% for SGLP.L.
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