RING vs. SGOL
RING (iShares MSCI Global Gold Miners ETF) and SGOL (abrdn Physical Gold Shares ETF) are both Gold funds - RING tracks the MSCI ACWI Select Gold Miners Investable Market Index while SGOL tracks the LBMA Gold Price PM ($/ozt). Both are passively managed. Over the past 10 years, RING returned 12.92%/yr vs 11.79%/yr for SGOL. A 0.76 correlation means they provide meaningful diversification when combined. RING charges 0.39%/yr vs 0.17%/yr for SGOL.
Performance
RING vs. SGOL - Performance Comparison
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Returns By Period
In the year-to-date period, RING achieves a -8.53% return, which is significantly lower than SGOL's -4.70% return. Over the past 10 years, RING has outperformed SGOL with an annualized return of 12.92%, while SGOL has yielded a comparatively lower 11.79% annualized return.
RING
- 1D
- -4.54%
- 1M
- -9.24%
- YTD
- -8.53%
- 6M
- -13.08%
- 1Y
- 52.30%
- 3Y*
- 44.79%
- 5Y*
- 20.81%
- 10Y*
- 12.92%
SGOL
- 1D
- -1.86%
- 1M
- -8.83%
- YTD
- -4.70%
- 6M
- -8.63%
- 1Y
- 21.55%
- 3Y*
- 28.71%
- 5Y*
- 18.11%
- 10Y*
- 11.79%
RING vs. SGOL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RING iShares MSCI Global Gold Miners ETF | -8.53% | 164.72% | 15.98% | 12.29% | -15.40% | -7.46% | 24.98% | 49.92% | -13.14% | 10.24% |
SGOL abrdn Physical Gold Shares ETF | -4.70% | 63.99% | 26.90% | 12.99% | -0.51% | -3.94% | 25.03% | 18.21% | -1.94% | 12.86% |
Correlation
The correlation between RING and SGOL is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2012 | 0.76 |
The correlation between RING and SGOL has been stable across timeframes, ranging from 0.76 to 0.80 - a consistent structural relationship.
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Return for Risk
RING vs. SGOL — Risk / Return Rank
RING
SGOL
RING vs. SGOL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Gold Miners ETF (RING) and abrdn Physical Gold Shares ETF (SGOL). 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.
| RING | SGOL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.17 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 0.89 | +0.58 |
| Martin ratioReturn relative to average drawdown | 3.91 | 2.38 | +1.53 |
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Drawdowns
RING vs. SGOL - Drawdown Comparison
The maximum RING drawdown since its inception was -79.47%, which is greater than SGOL's maximum drawdown of -45.51%. Use the drawdown chart below to compare losses from any high point for RING and SGOL.
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Drawdown Indicators
| RING | SGOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.47% | -45.51% | -33.96% |
Max Drawdown (1Y)Largest decline over 1 year | -35.72% | -24.37% | -11.35% |
Max Drawdown (3Y)Largest decline over 3 years | -35.72% | -24.37% | -11.35% |
Max Drawdown (5Y)Largest decline over 5 years | -47.94% | -24.37% | -23.57% |
Max Drawdown (10Y)Largest decline over 10 years | -52.04% | -24.37% | -27.67% |
Current DrawdownCurrent decline from peak | -32.25% | -23.85% | -8.40% |
Average DrawdownAverage peak-to-trough decline | -47.33% | -18.42% | -28.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.40% | 9.06% | +4.34% |
Volatility
RING vs. SGOL - Volatility Comparison
iShares MSCI Global Gold Miners ETF (RING) has a higher volatility of 17.22% compared to abrdn Physical Gold Shares ETF (SGOL) at 8.11%. This indicates that RING's price experiences larger fluctuations and is considered to be riskier than SGOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RING | SGOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.22% | 8.11% | +9.11% |
Volatility (6M)Calculated over the trailing 6-month period | 39.95% | 24.14% | +15.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 48.04% | 27.28% | +20.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.94% | 18.13% | +18.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.73% | 16.00% | +20.73% |
RING vs. SGOL - Expense Ratio Comparison
RING has a 0.39% expense ratio, which is higher than SGOL's 0.17% expense ratio.
Dividends
RING vs. SGOL - Dividend Comparison
RING's dividend yield for the trailing twelve months is around 1.35%, while SGOL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RING iShares MSCI Global Gold Miners ETF | 1.35% | 0.84% | 1.43% | 2.01% | 2.29% | 2.38% | 0.83% | 0.83% | 0.70% | 0.42% | 1.41% | 0.96% |
SGOL abrdn Physical Gold Shares ETF | 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
RING and SGOL have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RING has higher volatility (17.22%) compared to SGOL (8.11%). In terms of maximum drawdown, RING dropped -79.47% vs SGOL's -45.51%.
On 10-year performance, RING leads with 12.92% vs 11.79% for SGOL. On fees, SGOL is cheaper at 0.17% per year. On volatility, SGOL has been the lower-risk option at 8.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, RING has performed better with a 12.92% return vs 11.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOL is cheaper with a 0.17% expense ratio, compared with 0.39% for RING.
RING has the higher dividend yield at 1.35%, compared with 0.00% for SGOL.
RING tracks MSCI ACWI Select Gold Miners Investable Market Index, while SGOL tracks LBMA Gold Price PM ($/ozt). They also come from different issuers: iShares and abrdn. Their fees differ too: 0.39% for RING and 0.17% for SGOL.
RING currently has the higher Sharpe Ratio (1.09 vs 0.79), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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