IGLN.L vs. DBC
IGLN.L (iShares Physical Gold ETC) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - IGLN.L is a Gold fund tracking the LBMA Gold Price, while DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. Both are passively managed. Over the past 10 years, IGLN.L returned 12.87%/yr vs 8.54%/yr for DBC. At a 0.23 correlation, their price movements are largely independent. IGLN.L charges 0.12%/yr vs 0.85%/yr for DBC.
Performance
IGLN.L vs. DBC - Performance Comparison
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Returns By Period
In the year-to-date period, IGLN.L achieves a 0.50% return, which is significantly lower than DBC's 31.80% return. Over the past 10 years, IGLN.L has outperformed DBC with an annualized return of 12.87%, while DBC has yielded a comparatively lower 8.54% annualized return.
IGLN.L
- 1D
- -0.32%
- 1M
- -8.04%
- YTD
- 0.50%
- 6M
- 3.23%
- 1Y
- 29.84%
- 3Y*
- 30.05%
- 5Y*
- 17.89%
- 10Y*
- 12.87%
DBC
- 1D
- 0.82%
- 1M
- -2.74%
- YTD
- 31.80%
- 6M
- 32.21%
- 1Y
- 40.70%
- 3Y*
- 14.11%
- 5Y*
- 12.01%
- 10Y*
- 8.54%
IGLN.L vs. DBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGLN.L iShares Physical Gold ETC | 0.50% | 64.93% | 26.14% | 13.44% | -0.09% | -4.03% | 24.16% | 18.30% | -1.33% | 11.69% |
DBC Invesco DB Commodity Index Tracking Fund | 31.80% | 8.10% | 2.18% | -6.19% | 19.34% | 41.36% | -7.84% | 11.84% | -11.63% | 4.86% |
Correlation
The correlation between IGLN.L and DBC is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2011 | 0.23 |
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Return for Risk
IGLN.L vs. DBC — Risk / Return Rank
IGLN.L
DBC
IGLN.L vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (IGLN.L) and Invesco DB Commodity Index Tracking Fund (DBC). 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 | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.38 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 5.27 | -3.64 |
| Martin ratioReturn relative to average drawdown | 4.30 | 12.03 | -7.73 |
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 | DBC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 2.17 | -0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.03 | 0.63 | +0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.83 | 0.48 | +0.35 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.11 | +0.33 |
Drawdowns
IGLN.L vs. DBC - Drawdown Comparison
The maximum IGLN.L drawdown since its inception was -45.25%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for IGLN.L and DBC.
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Drawdown Indicators
| IGLN.L | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.25% | -76.36% | +31.11% |
Max Drawdown (1Y)Largest decline over 1 year | -18.26% | -7.76% | -10.50% |
Max Drawdown (3Y)Largest decline over 3 years | -18.26% | -13.82% | -4.44% |
Max Drawdown (5Y)Largest decline over 5 years | -21.15% | -27.34% | +6.19% |
Max Drawdown (10Y)Largest decline over 10 years | -21.15% | -41.71% | +20.56% |
Current DrawdownCurrent decline from peak | -18.26% | -23.76% | +5.50% |
Average DrawdownAverage peak-to-trough decline | -19.72% | -46.21% | +26.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.93% | 3.39% | +3.54% |
Volatility
IGLN.L vs. DBC - Volatility Comparison
iShares Physical Gold ETC (IGLN.L) and Invesco DB Commodity Index Tracking Fund (DBC) have volatilities of 6.10% and 6.20%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGLN.L | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.10% | 6.20% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 21.87% | 16.02% | +5.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.98% | 18.91% | +6.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.41% | 19.20% | -1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.56% | 17.82% | -2.26% |
IGLN.L vs. DBC - Expense Ratio Comparison
IGLN.L has a 0.12% expense ratio, which is lower than DBC's 0.85% expense ratio.
Dividends
IGLN.L vs. DBC - Dividend Comparison
IGLN.L has not paid dividends to shareholders, while DBC's dividend yield for the trailing twelve months is around 2.53%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 2.53% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% |
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
IGLN.L and DBC have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGLN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLN.L is cheaper with a 0.12% expense ratio, compared with 0.85% for DBC.
IGLN.L is categorized as Gold, while DBC is Commodities. IGLN.L tracks LBMA Gold Price, while DBC tracks DBIQ Optimum Yield Diversified Commodity Index Excess Return. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.12% for IGLN.L and 0.85% for DBC.
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