IGLN.L vs. IUSA.MI
IGLN.L (iShares Physical Gold ETC) and IUSA.MI (iShares Core S&P 500 UCITS ETF USD Dist) are both exchange-traded funds - IGLN.L is a Gold fund tracking the LBMA Gold Price, while IUSA.MI is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, IGLN.L returned 13.42%/yr vs 15.02%/yr for IUSA.MI. At a 0.01 correlation, their price movements are largely independent. IGLN.L charges 0.25%/yr vs 0.07%/yr for IUSA.MI.
Performance
IGLN.L vs. IUSA.MI - Performance Comparison
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Different Trading Currencies
IGLN.L is traded in USD, while IUSA.MI is traded in EUR. To make them comparable, the IUSA.MI values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IGLN.L achieves a 3.70% return, which is significantly lower than IUSA.MI's 10.01% return. Over the past 10 years, IGLN.L has underperformed IUSA.MI with an annualized return of 13.42%, while IUSA.MI has yielded a comparatively higher 15.02% annualized return.
IGLN.L
- 1D
- 0.68%
- 1M
- -2.35%
- YTD
- 3.70%
- 6M
- 6.03%
- 1Y
- 32.37%
- 3Y*
- 31.55%
- 5Y*
- 18.61%
- 10Y*
- 13.42%
IUSA.MI
- 1D
- -0.00%
- 1M
- 4.43%
- YTD
- 10.01%
- 6M
- 11.06%
- 1Y
- 27.62%
- 3Y*
- 21.99%
- 5Y*
- 13.57%
- 10Y*
- 15.02%
IGLN.L vs. IUSA.MI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGLN.L iShares Physical Gold ETC | 3.70% | 64.92% | 26.14% | 13.44% | -0.09% | -4.03% | 24.16% | 18.28% | -1.31% | 11.67% |
IUSA.MI iShares Core S&P 500 UCITS ETF USD Dist | 10.01% | 17.60% | 25.92% | 26.02% | -19.44% | 29.59% | 17.79% | 31.28% | -6.05% | 21.69% |
Correlation
The correlation between IGLN.L and IUSA.MI is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2011 | 0.01 |
The correlation between IGLN.L and IUSA.MI shifts across timeframes, from 0.01 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IGLN.L vs. IUSA.MI — Risk / Return Rank
IGLN.L
IUSA.MI
IGLN.L vs. IUSA.MI - 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 Dist (IUSA.MI). 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 | IUSA.MI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.15 | ||
| Sortino ratioReturn per unit of downside risk | -1.75 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.43 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 3.20 | -1.35 |
| Martin ratioReturn relative to average drawdown | 4.79 | 13.64 | -8.84 |
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 | IUSA.MI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 2.45 | -1.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.07 | 0.85 | +0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.86 | 0.91 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.55 | -0.09 |
Drawdowns
IGLN.L vs. IUSA.MI - Drawdown Comparison
The maximum IGLN.L drawdown since its inception was -45.24%, smaller than the maximum IUSA.MI drawdown of -55.93%. Use the drawdown chart below to compare losses from any high point for IGLN.L and IUSA.MI.
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Drawdown Indicators
| IGLN.L | IUSA.MI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.24% | -55.93% | +10.69% |
Max Drawdown (1Y)Largest decline over 1 year | -17.36% | -8.62% | -8.74% |
Max Drawdown (3Y)Largest decline over 3 years | -17.36% | -19.44% | +2.08% |
Max Drawdown (5Y)Largest decline over 5 years | -21.15% | -24.42% | +3.27% |
Max Drawdown (10Y)Largest decline over 10 years | -21.15% | -34.16% | +13.01% |
Current DrawdownCurrent decline from peak | -15.66% | -0.62% | -15.04% |
Average DrawdownAverage peak-to-trough decline | -19.80% | -8.51% | -11.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.74% | 2.03% | +4.71% |
Volatility
IGLN.L vs. IUSA.MI - Volatility Comparison
iShares Physical Gold ETC (IGLN.L) has a higher volatility of 6.36% compared to iShares Core S&P 500 UCITS ETF USD Dist (IUSA.MI) at 2.90%. This indicates that IGLN.L's price experiences larger fluctuations and is considered to be riskier than IUSA.MI 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 | IUSA.MI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.36% | 2.90% | +3.46% |
Volatility (6M)Calculated over the trailing 6-month period | 21.73% | 8.02% | +13.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.78% | 11.29% | +13.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.36% | 15.84% | +1.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 16.33% | -0.79% |
IGLN.L vs. IUSA.MI - Expense Ratio Comparison
IGLN.L has a 0.25% expense ratio, which is higher than IUSA.MI'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. IUSA.MI - Dividend Comparison
IGLN.L has not paid dividends to shareholders, while IUSA.MI's dividend yield for the trailing twelve months is around 0.73%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGLN.L iShares Physical Gold 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% |
IUSA.MI iShares Core S&P 500 UCITS ETF USD Dist | 0.73% | 0.82% | 0.92% | 1.16% | 1.39% | 0.84% | 1.21% | 1.33% | 1.46% | 1.33% | 1.25% | 1.37% |
Frequently Asked Questions
IGLN.L and IUSA.MI have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUSA.MI is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUSA.MI is cheaper with a 0.07% expense ratio, compared with 0.25% for IGLN.L.
IGLN.L is categorized as Gold, while IUSA.MI is S&P 500. IGLN.L tracks LBMA Gold Price, while IUSA.MI tracks S&P 500 Index. Their fees differ too: 0.25% for IGLN.L and 0.07% for IUSA.MI.
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