IGLN.L vs. IAUP.L
IGLN.L (iShares Physical Gold ETC) and IAUP.L (iShares Gold Producers UCITS ETF USD Acc) are both Gold funds from iShares - IGLN.L tracks the LBMA Gold Price while IAUP.L tracks the S&P Commodity Producers Gold Index. Both are passively managed. Over the past 10 years, IGLN.L returned 13.40%/yr vs 14.32%/yr for IAUP.L. A 0.76 correlation means they provide meaningful diversification when combined. IGLN.L charges 0.25%/yr vs 0.55%/yr for IAUP.L.
Performance
IGLN.L vs. IAUP.L - Performance Comparison
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Returns By Period
In the year-to-date period, IGLN.L achieves a 3.00% return, which is significantly higher than IAUP.L's 0.78% return. Over the past 10 years, IGLN.L has underperformed IAUP.L with an annualized return of 13.40%, while IAUP.L has yielded a comparatively higher 14.32% annualized return.
IGLN.L
- 1D
- -1.45%
- 1M
- -4.23%
- YTD
- 3.00%
- 6M
- 5.09%
- 1Y
- 32.44%
- 3Y*
- 31.11%
- 5Y*
- 18.45%
- 10Y*
- 13.40%
IAUP.L
- 1D
- -2.16%
- 1M
- -2.16%
- YTD
- 0.78%
- 6M
- 6.21%
- 1Y
- 62.81%
- 3Y*
- 41.50%
- 5Y*
- 18.52%
- 10Y*
- 14.32%
IGLN.L vs. IAUP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGLN.L iShares Physical Gold ETC | 3.00% | 64.92% | 26.14% | 13.44% | -0.09% | -4.03% | 24.16% | 18.28% | -1.31% | 11.67% |
IAUP.L iShares Gold Producers UCITS ETF USD Acc | 0.78% | 153.95% | 11.53% | 9.39% | -11.06% | -10.31% | 23.60% | 45.64% | -9.60% | 6.75% |
Correlation
The correlation between IGLN.L and IAUP.L is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Sep 20, 2011 | 0.76 |
The correlation between IGLN.L and IAUP.L has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.
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Return for Risk
IGLN.L vs. IAUP.L — Risk / Return Rank
IGLN.L
IAUP.L
IGLN.L vs. IAUP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (IGLN.L) and iShares Gold Producers UCITS ETF USD Acc (IAUP.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 | IAUP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.25 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 2.19 | -0.33 |
| Martin ratioReturn relative to average drawdown | 4.85 | 5.64 | -0.79 |
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 | IAUP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 1.44 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.06 | 0.52 | +0.54 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.86 | 0.41 | +0.45 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.09 | +0.37 |
Drawdowns
IGLN.L vs. IAUP.L - Drawdown Comparison
The maximum IGLN.L drawdown since its inception was -45.24%, smaller than the maximum IAUP.L drawdown of -79.95%. Use the drawdown chart below to compare losses from any high point for IGLN.L and IAUP.L.
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Drawdown Indicators
| IGLN.L | IAUP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.24% | -79.95% | +34.71% |
Max Drawdown (1Y)Largest decline over 1 year | -17.36% | -28.57% | +11.21% |
Max Drawdown (3Y)Largest decline over 3 years | -17.36% | -28.57% | +11.21% |
Max Drawdown (5Y)Largest decline over 5 years | -21.15% | -44.90% | +23.75% |
Max Drawdown (10Y)Largest decline over 10 years | -21.15% | -51.26% | +30.11% |
Current DrawdownCurrent decline from peak | -16.23% | -24.68% | +8.45% |
Average DrawdownAverage peak-to-trough decline | -19.80% | -49.54% | +29.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.66% | 11.10% | -4.44% |
Volatility
IGLN.L vs. IAUP.L - Volatility Comparison
The current volatility for iShares Physical Gold ETC (IGLN.L) is 6.40%, while iShares Gold Producers UCITS ETF USD Acc (IAUP.L) has a volatility of 14.96%. This indicates that IGLN.L experiences smaller price fluctuations and is considered to be less risky than IAUP.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 | IAUP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.40% | 14.96% | -8.56% |
Volatility (6M)Calculated over the trailing 6-month period | 21.73% | 35.03% | -13.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.79% | 43.38% | -18.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.37% | 35.32% | -17.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 34.55% | -19.01% |
IGLN.L vs. IAUP.L - Expense Ratio Comparison
IGLN.L has a 0.25% expense ratio, which is lower than IAUP.L's 0.55% expense ratio.
Dividends
IGLN.L vs. IAUP.L - Dividend Comparison
Neither IGLN.L nor IAUP.L has paid dividends to shareholders.
Frequently Asked Questions
IGLN.L and IAUP.L have a correlation of 0.81, 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 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLN.L is cheaper with a 0.25% expense ratio, compared with 0.55% for IAUP.L.
IGLN.L tracks LBMA Gold Price, while IAUP.L tracks S&P Commodity Producers Gold Index. Their fees differ too: 0.25% for IGLN.L and 0.55% for IAUP.L.
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