IGLN.L vs. SGLP.L
IGLN.L (iShares Physical Gold ETC) and SGLP.L (Invesco Physical Gold A) are both Gold funds - IGLN.L tracks the LBMA Gold Price while SGLP.L tracks the Gold. Both are passively managed. Over the past 10 years, IGLN.L returned 11.57%/yr vs 11.54%/yr for SGLP.L. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.12% expense ratio.
Performance
IGLN.L vs. SGLP.L - Performance Comparison
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Different Trading Currencies
IGLN.L is traded in USD, while SGLP.L is traded in GBp. To make them comparable, the SGLP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with IGLN.L having a -6.72% return and SGLP.L slightly lower at -6.77%. Both investments have delivered pretty close results over the past 10 years, with IGLN.L having a 11.57% annualized return and SGLP.L not far behind at 11.54%.
IGLN.L
- 1D
- 0.35%
- 1M
- -10.73%
- YTD
- -6.72%
- 6M
- -10.54%
- 1Y
- 20.86%
- 3Y*
- 27.64%
- 5Y*
- 17.56%
- 10Y*
- 11.57%
SGLP.L
- 1D
- 0.21%
- 1M
- -10.86%
- YTD
- -6.77%
- 6M
- -10.53%
- 1Y
- 20.41%
- 3Y*
- 27.62%
- 5Y*
- 17.58%
- 10Y*
- 11.54%
IGLN.L vs. SGLP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGLN.L iShares Physical Gold ETC | -6.72% | 64.93% | 26.14% | 13.44% | -0.09% | -4.03% | 24.16% | 18.30% | -1.33% | 11.69% |
SGLP.L Invesco Physical Gold A | -6.77% | 65.19% | 26.00% | 12.92% | -0.12% | -3.76% | 23.67% | 19.25% | -1.60% | 11.32% |
Correlation
The correlation between IGLN.L and SGLP.L is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2011 | 0.88 |
The correlation between IGLN.L and SGLP.L has been stable across timeframes, ranging from 0.88 to 0.98 - a consistent structural relationship.
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Return for Risk
IGLN.L vs. SGLP.L — Risk / Return Rank
IGLN.L
SGLP.L
IGLN.L vs. SGLP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (IGLN.L) and Invesco Physical Gold A (SGLP.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IGLN.L | SGLP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.16 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.85 | 0.83 | +0.02 |
| Martin ratioReturn relative to average drawdown | 2.48 | 2.40 | +0.08 |
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Drawdowns
IGLN.L vs. SGLP.L - Drawdown Comparison
The maximum IGLN.L drawdown since its inception was -45.25%, smaller than the maximum SGLP.L drawdown of -66.38%. Use the drawdown chart below to compare losses from any high point for IGLN.L and SGLP.L.
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Drawdown Indicators
| IGLN.L | SGLP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.25% | -66.38% | +21.13% |
Max Drawdown (1Y)Largest decline over 1 year | -24.39% | -24.51% | +0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -24.39% | -24.51% | +0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -24.39% | -24.51% | +0.12% |
Max Drawdown (10Y)Largest decline over 10 years | -24.39% | -24.51% | +0.12% |
Current DrawdownCurrent decline from peak | -24.13% | -24.36% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -19.72% | -39.72% | +20.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.38% | 8.47% | -0.09% |
Volatility
IGLN.L vs. SGLP.L - Volatility Comparison
iShares Physical Gold ETC (IGLN.L) has a higher volatility of 9.08% compared to Invesco Physical Gold A (SGLP.L) at 8.50%. This indicates that IGLN.L's price experiences larger fluctuations and is considered to be riskier than SGLP.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 | SGLP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.08% | 8.50% | +0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 23.04% | 22.10% | +0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.95% | 25.12% | +0.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.63% | 22.70% | -5.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.67% | 18.78% | -3.11% |
IGLN.L vs. SGLP.L - Expense Ratio Comparison
Both IGLN.L and SGLP.L have an expense ratio of 0.12%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
IGLN.L vs. SGLP.L - Dividend Comparison
Neither IGLN.L nor SGLP.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, IGLN.L and SGLP.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.12% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IGLN.L and SGLP.L have the same expense ratio: 0.12% per year.
IGLN.L tracks LBMA Gold Price, while SGLP.L tracks Gold. They also come from different issuers: iShares and Invesco.
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