IGLN.L vs. CSPX.L
IGLN.L (iShares Physical Gold ETC) and CSPX.L (iShares Core S&P 500 UCITS ETF USD (Acc)) are both exchange-traded funds - IGLN.L is a Gold fund tracking the LBMA Gold Price, while CSPX.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, IGLN.L returned 12.33%/yr vs 14.87%/yr for CSPX.L. At a 0.06 correlation, their price movements are largely independent. IGLN.L charges 0.12%/yr vs 0.07%/yr for CSPX.L.
Performance
IGLN.L vs. CSPX.L - Performance Comparison
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Returns By Period
In the year-to-date period, IGLN.L achieves a -4.24% return, which is significantly lower than CSPX.L's 6.69% return. Over the past 10 years, IGLN.L has underperformed CSPX.L with an annualized return of 12.33%, while CSPX.L has yielded a comparatively higher 14.87% annualized return.
IGLN.L
- 1D
- -3.34%
- 1M
- -12.77%
- YTD
- -4.24%
- 6M
- -1.79%
- 1Y
- 23.96%
- 3Y*
- 27.97%
- 5Y*
- 16.93%
- 10Y*
- 12.33%
CSPX.L
- 1D
- -0.03%
- 1M
- -1.22%
- YTD
- 6.69%
- 6M
- 7.42%
- 1Y
- 23.00%
- 3Y*
- 20.73%
- 5Y*
- 12.87%
- 10Y*
- 14.87%
IGLN.L vs. CSPX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGLN.L iShares Physical Gold ETC | -4.24% | 64.93% | 26.14% | 13.44% | -0.09% | -4.03% | 24.16% | 18.30% | -1.33% | 11.69% |
CSPX.L iShares Core S&P 500 UCITS ETF USD (Acc) | 6.69% | 17.45% | 25.25% | 26.74% | -18.72% | 29.35% | 17.62% | 30.55% | -5.46% | 21.60% |
Correlation
The correlation between IGLN.L and CSPX.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2011 | 0.06 |
Over the past year, IGLN.L and CSPX.L have become more correlated (0.29) than their long-term average of 0.06, meaning their price movements have been converging.
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Return for Risk
IGLN.L vs. CSPX.L — Risk / Return Rank
IGLN.L
CSPX.L
IGLN.L vs. CSPX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (IGLN.L) and iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.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.
| IGLN.L | CSPX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.35 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 2.80 | -1.72 |
| Martin ratioReturn relative to average drawdown | 3.33 | 11.81 | -8.48 |
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
| IGLN.L | CSPX.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.95 | 1.93 | -0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.97 | 0.81 | +0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | 0.92 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.92 | -0.51 |
Drawdowns
IGLN.L vs. CSPX.L - Drawdown Comparison
The maximum IGLN.L drawdown since its inception was -45.25%, which is greater than CSPX.L's maximum drawdown of -33.90%. Use the drawdown chart below to compare losses from any high point for IGLN.L and CSPX.L.
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Drawdown Indicators
| IGLN.L | CSPX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.25% | -33.90% | -11.35% |
Max Drawdown (1Y)Largest decline over 1 year | -22.12% | -8.17% | -13.95% |
Max Drawdown (3Y)Largest decline over 3 years | -22.12% | -18.50% | -3.62% |
Max Drawdown (5Y)Largest decline over 5 years | -22.12% | -24.39% | +2.27% |
Max Drawdown (10Y)Largest decline over 10 years | -22.12% | -33.90% | +11.78% |
Current DrawdownCurrent decline from peak | -22.12% | -3.81% | -18.31% |
Average DrawdownAverage peak-to-trough decline | -19.72% | -3.72% | -16.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.17% | 1.94% | +5.23% |
Volatility
IGLN.L vs. CSPX.L - Volatility Comparison
iShares Physical Gold ETC (IGLN.L) has a higher volatility of 6.75% compared to iShares Core S&P 500 UCITS ETF USD (Acc) (CSPX.L) at 3.66%. This indicates that IGLN.L's price experiences larger fluctuations and is considered to be riskier than CSPX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGLN.L | CSPX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.75% | 3.66% | +3.09% |
Volatility (6M)Calculated over the trailing 6-month period | 22.18% | 8.81% | +13.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.21% | 11.89% | +13.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.49% | 16.01% | +1.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.60% | 16.21% | -0.61% |
IGLN.L vs. CSPX.L - Expense Ratio Comparison
IGLN.L has a 0.12% expense ratio, which is higher than CSPX.L's 0.07% 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
IGLN.L vs. CSPX.L - Dividend Comparison
Neither IGLN.L nor CSPX.L has paid dividends to shareholders.
Frequently Asked Questions
IGLN.L and CSPX.L have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSPX.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSPX.L is cheaper with a 0.07% expense ratio, compared with 0.12% for IGLN.L.
IGLN.L is categorized as Gold, while CSPX.L is S&P 500. IGLN.L tracks LBMA Gold Price, while CSPX.L tracks S&P 500 Index. They also come from different issuers: iShares and BlackRock. Their fees differ too: 0.12% for IGLN.L and 0.07% for CSPX.L.
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