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IGLD.DE vs. SPY
Performance
Return for Risk
Dividends
Drawdowns
Volatility

IGLD.DE vs. SPY

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Physical Gold (EUR Hedged) ETC (IGLD.DE) and State Street SPDR S&P 500 ETF (SPY).

IGLD.DE and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IGLD.DE is a passively managed fund by iShares that tracks the performance of the Gold (EUR Hedged). It was launched on Jul 5, 2022. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both IGLD.DE and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IGLD.DE vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Physical Gold (EUR Hedged) ETC (IGLD.DE) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

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IGLD.DE vs. SPY - Yearly Performance Comparison

2026 (YTD)2025202420232022
IGLD.DE
iShares Physical Gold (EUR Hedged) ETC		7.75%63.04%24.54%10.49%2.47%
SPY
State Street SPDR S&P 500 ETF		-2.17%3.75%33.13%22.39%-5.86%
Different Trading Currencies

IGLD.DE is traded in EUR, while SPY is traded in USD. To make them comparable, the SPY 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 7.75% return, which is significantly higher than SPY's -2.85% return.

IGLD.DE

1D
3.57%
1M
-9.78%
YTD
7.75%
6M
21.89%
1Y
48.04%
3Y*
30.87%
5Y*
—
10Y*
—

SPY

1D
0.00%
1M
-3.95%
YTD
-2.85%
6M
-0.72%
1Y
9.46%
3Y*
15.68%
5Y*
12.10%
10Y*
13.81%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Physical Gold (EUR Hedged) ETC

State Street SPDR S&P 500 ETF

Often compared with IGLD.DE:
IGLD.DE vs. PPFB.DEIGLD.DE vs. IAUMIGLD.DE vs. GDXIGLD.DE vs. GLDW.LIGLD.DE vs. VOOIGLD.DE vs. VUAA.DEIGLD.DE vs. IWDA.L
Often compared with SPY:
SPY vs. QQQSPY vs. VOOSPY vs. BRK-BSPY vs. RSPSPY vs. VTISPY vs. SCHDSPY vs. GLD

IGLD.DE vs. SPY - Expense Ratio Comparison

IGLD.DE has a 0.25% expense ratio, which is higher than SPY's 0.09% 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%.

IGLD.DE
iShares Physical Gold (EUR Hedged) ETC
SPY
State Street SPDR S&P 500 ETF

Return for Risk

IGLD.DE vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IGLD.DE
IGLD.DE Risk / Return Rank: 8585
Overall Rank
IGLD.DE Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
IGLD.DE Sortino Ratio Rank: 8585
Sortino Ratio Rank
IGLD.DE Omega Ratio Rank: 8383
Omega Ratio Rank
IGLD.DE Calmar Ratio Rank: 8585
Calmar Ratio Rank
IGLD.DE Martin Ratio Rank: 8484
Martin Ratio Rank
SPY
SPY Risk / Return Rank: 5959
Overall Rank
SPY Sharpe Ratio Rank: 5151
Sharpe Ratio Rank
SPY Sortino Ratio Rank: 5656
Sortino Ratio Rank
SPY Omega Ratio Rank: 6060
Omega Ratio Rank
SPY Calmar Ratio Rank: 5858
Calmar Ratio Rank
SPY Martin Ratio Rank: 6969
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IGLD.DE vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold (EUR Hedged) ETC (IGLD.DE) and State Street SPDR S&P 500 ETF (SPY). 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.DESPYDifference

Sharpe ratio

Return per unit of total volatility

1.86

0.44

+1.42

Sortino ratio

Return per unit of downside risk

2.34

0.76

+1.58

Omega ratio

Gain probability vs. loss probability

1.33

1.12

+0.21

Calmar ratio

Return relative to maximum drawdown

2.72

0.70

+2.03

Martin ratio

Return relative to average drawdown

10.13

2.95

+7.18

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGLD.DE vs. SPY - Sharpe Ratio Comparison

The current IGLD.DE Sharpe Ratio is 1.86, which is higher than the SPY Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of IGLD.DE and SPY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

IGLD.DESPYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.86

0.44

+1.42

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.72

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.75

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.54

0.55

+0.99

Correlation

The correlation between IGLD.DE and SPY is -0.08. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

IGLD.DE vs. SPY - Dividend Comparison

IGLD.DE has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.13%.

TTM20252024202320222021202020192018201720162015
IGLD.DE
iShares Physical Gold (EUR Hedged) ETC		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SPY
State Street SPDR S&P 500 ETF		1.13%1.07%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%

Drawdowns

IGLD.DE vs. SPY - Drawdown Comparison

The maximum IGLD.DE drawdown since its inception was -17.62%, smaller than the maximum SPY drawdown of -51.02%. Use the drawdown chart below to compare losses from any high point for IGLD.DE and SPY.

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Drawdown Indicators

IGLD.DESPYDifference

Max Drawdown

Largest peak-to-trough decline

-17.62%

-55.19%

+37.57%

Max Drawdown (1Y)

Largest decline over 1 year

-17.62%

-12.05%

-5.57%

Max Drawdown (5Y)

Largest decline over 5 years

—

-24.50%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.72%

—

Current Drawdown

Current decline from peak

-10.06%

-5.53%

-4.53%

Average Drawdown

Average peak-to-trough decline

-3.30%

-9.09%

+5.79%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.74%

2.54%

+2.20%

Volatility

IGLD.DE vs. SPY - Volatility Comparison

iShares Physical Gold (EUR Hedged) ETC (IGLD.DE) has a higher volatility of 11.72% compared to State Street SPDR S&P 500 ETF (SPY) at 4.30%. This indicates that IGLD.DE's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IGLD.DESPYDifference

Volatility (1M)

Calculated over the trailing 1-month period

11.72%

4.30%

+7.42%

Volatility (6M)

Calculated over the trailing 6-month period

22.07%

9.86%

+12.21%

Volatility (1Y)

Calculated over the trailing 1-year period

25.70%

21.43%

+4.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.66%

16.97%

+0.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.66%

18.50%

-0.84%