IGLD.DE vs. GBSS.L
IGLD.DE (iShares Physical Gold (EUR Hedged) ETC) and GBSS.L (Gold Bullion Securities) are both Precious Metals funds - IGLD.DE tracks the Gold (EUR Hedged) while GBSS.L tracks the Gold. Both are passively managed. Over the past 3 years, IGLD.DE returned 28.49%/yr vs 27.55%/yr for GBSS.L. Their correlation of 0.81 suggests significant overlap in exposure. IGLD.DE charges 0.25%/yr vs 0.40%/yr for GBSS.L.
Performance
IGLD.DE vs. GBSS.L - Performance Comparison
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Different Trading Currencies
IGLD.DE is traded in EUR, while GBSS.L is traded in GBp. To make them comparable, the GBSS.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IGLD.DE achieves a 0.35% return, which is significantly lower than GBSS.L's 4.64% return.
IGLD.DE
- 1D
- 0.70%
- 1M
- -2.47%
- YTD
- 0.35%
- 6M
- 4.61%
- 1Y
- 28.86%
- 3Y*
- 28.49%
- 5Y*
- —
- 10Y*
- —
GBSS.L
- 1D
- 0.52%
- 1M
- -1.67%
- YTD
- 4.64%
- 6M
- 6.16%
- 1Y
- 29.67%
- 3Y*
- 27.55%
- 5Y*
- 19.35%
- 10Y*
- 12.91%
IGLD.DE vs. GBSS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IGLD.DE iShares Physical Gold (EUR Hedged) ETC | 0.35% | 63.04% | 24.54% | 10.49% | 2.47% |
GBSS.L Gold Bullion Securities | 4.64% | 45.14% | 33.99% | 9.23% | -0.79% |
Correlation
The correlation between IGLD.DE and GBSS.L is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jul 8, 2022 | 0.81 |
The correlation between IGLD.DE and GBSS.L shifts across timeframes, from 0.81 (all time) to 0.91 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IGLD.DE vs. GBSS.L — Risk / Return Rank
IGLD.DE
GBSS.L
IGLD.DE vs. GBSS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold (EUR Hedged) ETC (IGLD.DE) and Gold Bullion Securities (GBSS.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.
| IGLD.DE | GBSS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.26 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 1.71 | -0.08 |
| Martin ratioReturn relative to average drawdown | 4.10 | 4.44 | -0.34 |
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
| IGLD.DE | GBSS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.16 | 1.29 | -0.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.19 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.87 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.32 | 0.61 | +0.71 |
Drawdowns
IGLD.DE vs. GBSS.L - Drawdown Comparison
The maximum IGLD.DE drawdown since its inception was -17.62%, smaller than the maximum GBSS.L drawdown of -37.11%. Use the drawdown chart below to compare losses from any high point for IGLD.DE and GBSS.L.
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Drawdown Indicators
| IGLD.DE | GBSS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.62% | -37.11% | +19.49% |
Max Drawdown (1Y)Largest decline over 1 year | -17.62% | -17.26% | -0.36% |
Max Drawdown (3Y)Largest decline over 3 years | -17.62% | -17.26% | -0.36% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.26% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.65% | — |
Current DrawdownCurrent decline from peak | -16.24% | -15.50% | -0.74% |
Average DrawdownAverage peak-to-trough decline | -3.72% | -12.27% | +8.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.03% | 6.67% | +0.36% |
Volatility
IGLD.DE vs. GBSS.L - Volatility Comparison
iShares Physical Gold (EUR Hedged) ETC (IGLD.DE) has a higher volatility of 5.98% compared to Gold Bullion Securities (GBSS.L) at 5.01%. This indicates that IGLD.DE's price experiences larger fluctuations and is considered to be riskier than GBSS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGLD.DE | GBSS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.98% | 5.01% | +0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 21.79% | 19.96% | +1.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.80% | 22.97% | +1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.86% | 16.22% | +1.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.86% | 14.81% | +3.05% |
IGLD.DE vs. GBSS.L - Expense Ratio Comparison
IGLD.DE has a 0.25% expense ratio, which is lower than GBSS.L's 0.40% expense ratio.
Dividends
IGLD.DE vs. GBSS.L - Dividend Comparison
Neither IGLD.DE nor GBSS.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, IGLD.DE and GBSS.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, IGLD.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLD.DE is cheaper with a 0.25% expense ratio, compared with 0.40% for GBSS.L.
IGLD.DE tracks Gold (EUR Hedged), while GBSS.L tracks Gold. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.25% for IGLD.DE and 0.40% for GBSS.L.
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