IRCP.L vs. SGLN.L
IRCP.L (iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist)) and SGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - IRCP.L is a Global Bonds fund tracking the iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist), while SGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, IRCP.L returned 1.58%/yr vs 11.33%/yr for SGLN.L. At a correlation of -0.08, they often move in opposite directions. IRCP.L charges 0.25%/yr vs 0.12%/yr for SGLN.L.
Performance
IRCP.L vs. SGLN.L - Performance Comparison
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Different Trading Currencies
IRCP.L is traded in EUR, while SGLN.L is traded in GBp. To make them comparable, the SGLN.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, IRCP.L achieves a 1.46% return, which is significantly higher than SGLN.L's -2.82% return. Over the past 10 years, IRCP.L has underperformed SGLN.L with an annualized return of 1.58%, while SGLN.L has yielded a comparatively higher 11.33% annualized return.
IRCP.L
- 1D
- 0.04%
- 1M
- 0.05%
- 6M
- 1.47%
- YTD
- 1.46%
- 1Y
- 3.00%
- 3Y*
- 5.19%
- 5Y*
- 2.73%
- 10Y*
- 1.58%
SGLN.L
- 1D
- 0.00%
- 1M
- -4.87%
- 6M
- -10.09%
- YTD
- -2.82%
- 1Y
- 24.30%
- 3Y*
- 26.86%
- 5Y*
- 18.29%
- 10Y*
- 11.33%
IRCP.L vs. SGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IRCP.L iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) | 1.46% | 4.21% | 6.47% | 5.14% | -2.74% | -0.24% | 0.84% | 4.00% | -3.63% | 1.46% |
SGLN.L iShares Physical Gold ETC | -3.60% | 45.64% | 34.39% | 9.51% | 6.07% | 3.50% | 13.41% | 21.93% | 3.07% | -2.32% |
Correlation
The correlation between IRCP.L and SGLN.L is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2012 | -0.08 |
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Return for Risk
IRCP.L vs. SGLN.L — Risk / Return Rank
IRCP.L
SGLN.L
IRCP.L vs. SGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) (IRCP.L) and iShares Physical Gold ETC (SGLN.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.
| IRCP.L | SGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.20 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.04 | 1.07 | +1.97 |
| Martin ratioReturn relative to average drawdown | 12.47 | 2.55 | +9.92 |
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Drawdowns
IRCP.L vs. SGLN.L - Drawdown Comparison
The maximum IRCP.L drawdown since its inception was -14.44%, smaller than the maximum SGLN.L drawdown of -47.83%. Use the drawdown chart below to compare losses from any high point for IRCP.L and SGLN.L.
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Drawdown Indicators
| IRCP.L | SGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.44% | -47.83% | +33.39% |
Max Drawdown (1Y)Largest decline over 1 year | -1.03% | -22.56% | +21.53% |
Max Drawdown (3Y)Largest decline over 3 years | -1.96% | -22.56% | +20.60% |
Max Drawdown (5Y)Largest decline over 5 years | -7.09% | -22.56% | +15.47% |
Max Drawdown (10Y)Largest decline over 10 years | -14.44% | -22.56% | +8.12% |
Current DrawdownCurrent decline from peak | -0.16% | -21.52% | +21.36% |
Average DrawdownAverage peak-to-trough decline | -1.31% | -22.38% | +21.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.25% | 9.51% | -9.26% |
Volatility
IRCP.L vs. SGLN.L - Volatility Comparison
The current volatility for iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) (IRCP.L) is 0.63%, while iShares Physical Gold ETC (SGLN.L) has a volatility of 6.72%. This indicates that IRCP.L experiences smaller price fluctuations and is considered to be less risky than SGLN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IRCP.L | SGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 6.72% | -6.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.45% | 21.21% | -18.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.67% | 24.52% | -21.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.97% | 22.10% | -19.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.79% | 18.02% | -14.23% |
IRCP.L vs. SGLN.L - Expense Ratio Comparison
IRCP.L has a 0.25% expense ratio, which is higher than SGLN.L's 0.12% 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
IRCP.L vs. SGLN.L - Dividend Comparison
IRCP.L's dividend yield for the trailing twelve months is around 2.58%, while SGLN.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IRCP.L iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist) | 2.58% | 2.91% | 3.70% | 2.52% | 0.43% | 0.70% | 0.82% | 0.92% | 0.58% | 0.71% | 1.35% | 1.47% |
SGLN.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% |
Frequently Asked Questions
IRCP.L and SGLN.L have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGLN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGLN.L is cheaper with a 0.12% expense ratio, compared with 0.25% for IRCP.L.
IRCP.L is categorized as Global Bonds, while SGLN.L is Gold. IRCP.L tracks iShares € Corp Bond Interest Rate Hedged ESG SRI UCITS ETF EUR (Dist), while SGLN.L tracks LBMA Gold Price. Their fees differ too: 0.25% for IRCP.L and 0.12% for SGLN.L.
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