IGLN.L vs. XAUUSD=X

Last updated Apr 3, 2026

Compare and contrast key facts about iShares Physical Gold ETC (IGLN.L) and Gold Spot Price US Dollar (XAUUSD=X).

IGLN.L is a passively managed fund by iShares that tracks the performance of the LBMA Gold Price. It was launched on Apr 8, 2011.

Performance

IGLN.L vs. XAUUSD=X - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Physical Gold ETC (IGLN.L) and Gold Spot Price US Dollar (XAUUSD=X). The values are adjusted to include any dividend payments, if applicable.

IGLN.L vs. XAUUSD=X - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGLN.L iShares Physical Gold ETC	8.36%	64.92%	26.14%	13.44%	-0.09%	-4.03%	24.16%	18.28%	-1.31%	11.67%
XAUUSD=X Gold Spot Price US Dollar	8.19%	64.75%	27.24%	13.14%	-0.25%	-3.50%	24.55%	18.77%	-1.71%	13.14%

Returns By Period

The year-to-date returns for both stocks are quite close, with IGLN.L having a 8.36% return and XAUUSD=X slightly lower at 8.19%. Both investments have delivered pretty close results over the past 10 years, with IGLN.L having a 14.18% annualized return and XAUUSD=X not far ahead at 14.43%.

IGLN.L

• 1D: -2.30%
• 1M: -8.78%
• YTD: 8.36%
• 6M: 21.87%
• 1Y: 49.16%
• 3Y*: 32.75%
• 5Y*: 21.84%
• 10Y*: 14.18%

XAUUSD=X

• 1D: -1.71%
• 1M: -8.10%
• YTD: 8.19%
• 6M: 21.27%
• 1Y: 49.22%
• 3Y*: 33.08%
• 5Y*: 21.93%
• 10Y*: 14.43%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

IGLN.L vs. XAUUSD=X — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IGLN.L

IGLN.L Risk / Return Rank: 84
IGLN.L Sharpe Ratio Rank: 86
IGLN.L Sortino Ratio Rank: 83
IGLN.L Omega Ratio Rank: 82
IGLN.L Calmar Ratio Rank: 84
IGLN.L Martin Ratio Rank: 84

XAUUSD=X

XAUUSD=X Risk / Return Rank: 89
XAUUSD=X Sharpe Ratio Rank: 93
XAUUSD=X Sortino Ratio Rank: 91
XAUUSD=X Omega Ratio Rank: 91
XAUUSD=X Calmar Ratio Rank: 84
XAUUSD=X Martin Ratio Rank: 87

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IGLN.L vs. XAUUSD=X - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (IGLN.L) and Gold Spot Price US Dollar (XAUUSD=X). 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	XAUUSD=X	Difference
Sharpe ratio Return per unit of total volatility	1.86	1.61	+0.25
Sortino ratio Return per unit of downside risk	2.33	2.08	+0.25
Omega ratio Gain probability vs. loss probability	1.34	1.31	+0.03
Calmar ratio Return relative to maximum drawdown	2.88	1.93	+0.95
Martin ratio Return relative to average drawdown	10.83	6.72	+4.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGLN.L vs. XAUUSD=X - Sharpe Ratio Comparison

The current IGLN.L Sharpe Ratio is 1.86, which is comparable to the XAUUSD=X Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of IGLN.L and XAUUSD=X, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IGLN.L	XAUUSD=X	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.86	1.61	+0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.28	1.20	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.92	0.90	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.59	-0.11

Correlation

The correlation between IGLN.L and XAUUSD=X is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

IGLN.L vs. XAUUSD=X - Drawdown Comparison

The maximum IGLN.L drawdown since its inception was -45.24%, roughly equal to the maximum XAUUSD=X drawdown of -44.69%. Use the drawdown chart below to compare losses from any high point for IGLN.L and XAUUSD=X.

Drawdown Indicators

	IGLN.L	XAUUSD=X	Difference
Max Drawdown Largest peak-to-trough decline	-45.24%	-44.69%	-0.55%
Max Drawdown (1Y) Largest decline over 1 year	-17.36%	-19.70%	+2.34%
Max Drawdown (5Y) Largest decline over 5 years	-21.15%	-20.81%	-0.34%
Max Drawdown (10Y) Largest decline over 10 years	-21.15%	-21.35%	+0.20%
Current Drawdown Current decline from peak	-11.87%	-13.69%	+1.82%
Average Drawdown Average peak-to-trough decline	-19.88%	-16.32%	-3.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.62%	5.67%	-1.05%

Volatility

IGLN.L vs. XAUUSD=X - Volatility Comparison

iShares Physical Gold ETC (IGLN.L) has a higher volatility of 11.74% compared to Gold Spot Price US Dollar (XAUUSD=X) at 9.69%. This indicates that IGLN.L's price experiences larger fluctuations and is considered to be riskier than XAUUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IGLN.L	XAUUSD=X	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.74%	9.69%	+2.05%
Volatility (6M) Calculated over the trailing 6-month period	22.31%	21.25%	+1.06%
Volatility (1Y) Calculated over the trailing 1-year period	26.37%	23.73%	+2.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.08%	16.36%	+0.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.43%	15.04%	+0.39%