MCHS.L vs. SGLS.L
MCHS.L (Invesco MSCI China All Shares Stock Connect UCITS ETF Acc) and SGLS.L (Invesco Physical Gold GBP Hedged ETC) are both exchange-traded funds - MCHS.L is a China Equities fund tracking the MSCI China NR USD, while SGLS.L is a Precious Metals fund tracking the Gold (GBP Hedged). Both are passively managed. Over the past 5 years, MCHS.L returned -2.86%/yr vs 17.34%/yr for SGLS.L. At a 0.04 correlation, their price movements are largely independent. MCHS.L charges 0.35%/yr vs 0.34%/yr for SGLS.L.
Performance
MCHS.L vs. SGLS.L - Performance Comparison
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Returns By Period
In the year-to-date period, MCHS.L achieves a -1.18% return, which is significantly lower than SGLS.L's 3.01% return.
MCHS.L
- 1D
- -0.42%
- 1M
- 0.14%
- YTD
- -1.18%
- 6M
- -1.60%
- 1Y
- 15.62%
- 3Y*
- 8.02%
- 5Y*
- -2.86%
- 10Y*
- —
SGLS.L
- 1D
- 0.62%
- 1M
- -2.49%
- YTD
- 3.01%
- 6M
- 5.20%
- 1Y
- 30.77%
- 3Y*
- 29.59%
- 5Y*
- 17.34%
- 10Y*
- —
MCHS.L vs. SGLS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MCHS.L Invesco MSCI China All Shares Stock Connect UCITS ETF Acc | -1.18% | 19.38% | 18.84% | -17.54% | -14.53% | -17.01% |
SGLS.L Invesco Physical Gold GBP Hedged ETC | 3.01% | 64.22% | 24.42% | 11.48% | -1.42% | 5.24% |
Correlation
The correlation between MCHS.L and SGLS.L is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Mar 4, 2021 | 0.04 |
Over the past year, MCHS.L and SGLS.L have become more correlated (0.26) than their long-term average of 0.04, meaning their price movements have been converging.
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Return for Risk
MCHS.L vs. SGLS.L — Risk / Return Rank
MCHS.L
SGLS.L
MCHS.L vs. SGLS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI China All Shares Stock Connect UCITS ETF Acc (MCHS.L) and Invesco Physical Gold GBP Hedged ETC (SGLS.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.
| MCHS.L | SGLS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.24 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.29 | 1.71 | -0.41 |
| Martin ratioReturn relative to average drawdown | 3.08 | 4.48 | -1.40 |
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
| MCHS.L | SGLS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 1.24 | -0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.09 | 1.07 | -1.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.12 | 0.90 | -1.02 |
Drawdowns
MCHS.L vs. SGLS.L - Drawdown Comparison
The maximum MCHS.L drawdown since its inception was -47.34%, which is greater than SGLS.L's maximum drawdown of -21.94%. Use the drawdown chart below to compare losses from any high point for MCHS.L and SGLS.L.
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Drawdown Indicators
| MCHS.L | SGLS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.34% | -21.94% | -25.40% |
Max Drawdown (1Y)Largest decline over 1 year | -12.03% | -17.93% | +5.90% |
Max Drawdown (3Y)Largest decline over 3 years | -24.97% | -17.93% | -7.04% |
Max Drawdown (5Y)Largest decline over 5 years | -45.71% | -21.94% | -23.77% |
Current DrawdownCurrent decline from peak | -18.01% | -15.99% | -2.02% |
Average DrawdownAverage peak-to-trough decline | -26.06% | -6.98% | -19.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.06% | 6.84% | -1.78% |
Volatility
MCHS.L vs. SGLS.L - Volatility Comparison
The current volatility for Invesco MSCI China All Shares Stock Connect UCITS ETF Acc (MCHS.L) is 5.64%, while Invesco Physical Gold GBP Hedged ETC (SGLS.L) has a volatility of 6.40%. This indicates that MCHS.L experiences smaller price fluctuations and is considered to be less risky than SGLS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCHS.L | SGLS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.64% | 6.40% | -0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 10.93% | 21.65% | -10.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.12% | 24.68% | -8.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.74% | 17.91% | +13.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.27% | 18.29% | +12.98% |
MCHS.L vs. SGLS.L - Expense Ratio Comparison
MCHS.L has a 0.35% expense ratio, which is higher than SGLS.L's 0.34% expense ratio.
Dividends
MCHS.L vs. SGLS.L - Dividend Comparison
Neither MCHS.L nor SGLS.L has paid dividends to shareholders.
Frequently Asked Questions
MCHS.L and SGLS.L have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGLS.L is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGLS.L is cheaper with a 0.34% expense ratio, compared with 0.35% for MCHS.L.
MCHS.L is categorized as China Equities, while SGLS.L is Precious Metals. MCHS.L tracks MSCI China NR USD, while SGLS.L tracks Gold (GBP Hedged). Their fees differ too: 0.35% for MCHS.L and 0.34% for SGLS.L.
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