IWMO.L vs. SGLP.L
IWMO.L (iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc)) and SGLP.L (Invesco Physical Gold A) are both exchange-traded funds - IWMO.L is a Momentum fund tracking the MSCI World Momentum Index, while SGLP.L is a Gold fund tracking the Gold. Both are passively managed. Over the past 10 years, IWMO.L returned 15.81%/yr vs 12.42%/yr for SGLP.L. At a 0.05 correlation, their price movements are largely independent. IWMO.L charges 0.25%/yr vs 0.12%/yr for SGLP.L.
Performance
IWMO.L vs. SGLP.L - Performance Comparison
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Different Trading Currencies
IWMO.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
In the year-to-date period, IWMO.L achieves a 22.44% return, which is significantly higher than SGLP.L's -2.23% return. Over the past 10 years, IWMO.L has outperformed SGLP.L with an annualized return of 15.81%, while SGLP.L has yielded a comparatively lower 12.42% annualized return.
IWMO.L
- 1D
- 3.90%
- 1M
- 3.40%
- YTD
- 22.44%
- 6M
- 24.67%
- 1Y
- 35.46%
- 3Y*
- 28.94%
- 5Y*
- 13.75%
- 10Y*
- 15.81%
SGLP.L
- 1D
- 2.69%
- 1M
- -9.63%
- YTD
- -2.23%
- 6M
- -1.73%
- 1Y
- 23.21%
- 3Y*
- 29.23%
- 5Y*
- 17.41%
- 10Y*
- 12.42%
IWMO.L vs. SGLP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWMO.L iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc) | 22.44% | 21.04% | 30.50% | 11.96% | -17.97% | 14.13% | 28.58% | 27.14% | -3.85% | 32.09% |
SGLP.L Invesco Physical Gold A | -2.23% | 65.19% | 26.00% | 12.92% | -0.12% | -3.76% | 23.67% | 19.25% | -1.60% | 11.32% |
Correlation
The correlation between IWMO.L and SGLP.L is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
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 | 0.09 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2014 | 0.05 |
Over the past year, IWMO.L and SGLP.L have become more correlated (0.27) than their long-term average of 0.05, meaning their price movements have been converging.
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Return for Risk
IWMO.L vs. SGLP.L — Risk / Return Rank
IWMO.L
SGLP.L
IWMO.L vs. SGLP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc) (IWMO.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.
| IWMO.L | SGLP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.19 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.01 | 1.05 | +1.96 |
| Martin ratioReturn relative to average drawdown | 12.88 | 3.19 | +9.70 |
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Drawdowns
IWMO.L vs. SGLP.L - Drawdown Comparison
The maximum IWMO.L drawdown since its inception was -31.52%, smaller than the maximum SGLP.L drawdown of -66.38%. Use the drawdown chart below to compare losses from any high point for IWMO.L and SGLP.L.
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Drawdown Indicators
| IWMO.L | SGLP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.52% | -66.38% | +34.86% |
Max Drawdown (1Y)Largest decline over 1 year | -11.61% | -22.75% | +11.14% |
Max Drawdown (3Y)Largest decline over 3 years | -19.40% | -22.75% | +3.35% |
Max Drawdown (5Y)Largest decline over 5 years | -29.63% | -22.75% | -6.88% |
Max Drawdown (10Y)Largest decline over 10 years | -31.52% | -22.75% | -8.77% |
Current DrawdownCurrent decline from peak | -0.33% | -20.68% | +20.35% |
Average DrawdownAverage peak-to-trough decline | -6.02% | -39.76% | +33.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.71% | 7.49% | -4.78% |
Volatility
IWMO.L vs. SGLP.L - Volatility Comparison
iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc) (IWMO.L) and Invesco Physical Gold A (SGLP.L) have volatilities of 7.50% and 7.18%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWMO.L | SGLP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.50% | 7.18% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 16.67% | 21.60% | -4.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.90% | 24.75% | -5.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.64% | 22.64% | -4.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.07% | 18.77% | -0.70% |
IWMO.L vs. SGLP.L - Expense Ratio Comparison
IWMO.L has a 0.25% expense ratio, which is higher than SGLP.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
IWMO.L vs. SGLP.L - Dividend Comparison
Neither IWMO.L nor SGLP.L has paid dividends to shareholders.
Frequently Asked Questions
IWMO.L and SGLP.L have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGLP.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGLP.L is cheaper with a 0.12% expense ratio, compared with 0.25% for IWMO.L.
IWMO.L is categorized as Momentum, while SGLP.L is Gold. IWMO.L tracks MSCI World Momentum Index, while SGLP.L tracks Gold. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for IWMO.L and 0.12% for SGLP.L.
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