RMAU.L vs. ROLL.L
RMAU.L (The Royal Mint Physical Gold ETC Securities) and ROLL.L (iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF) are both Commodities funds - RMAU.L tracks the LBMA Gold PM Price while ROLL.L tracks the iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF. Both are passively managed. Over the past 5 years, RMAU.L returned 17.17%/yr vs 12.62%/yr for ROLL.L. At a 0.38 correlation, their price movements are largely independent. RMAU.L charges 0.22%/yr vs 0.28%/yr for ROLL.L.
Performance
RMAU.L vs. ROLL.L - Performance Comparison
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Returns By Period
In the year-to-date period, RMAU.L achieves a -6.12% return, which is significantly lower than ROLL.L's 23.85% return.
RMAU.L
- 1D
- -0.87%
- 1M
- -7.02%
- 6M
- -12.45%
- YTD
- -6.12%
- 1Y
- 21.14%
- 3Y*
- 27.06%
- 5Y*
- 17.17%
- 10Y*
- —
ROLL.L
- 1D
- 0.55%
- 1M
- 1.79%
- 6M
- 17.06%
- YTD
- 23.85%
- 1Y
- 34.95%
- 3Y*
- 14.61%
- 5Y*
- 12.62%
- 10Y*
- —
RMAU.L vs. ROLL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
RMAU.L The Royal Mint Physical Gold ETC Securities | -6.12% | 64.59% | 25.96% | 13.29% | -0.19% | -4.17% | 19.56% |
ROLL.L iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF | 23.85% | 16.94% | 4.68% | -2.22% | 16.67% | 27.69% | 7.80% |
Correlation
The correlation between RMAU.L and ROLL.L is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2020 | 0.38 |
The correlation between RMAU.L and ROLL.L shifts across timeframes, from 0.24 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RMAU.L vs. ROLL.L — Risk / Return Rank
RMAU.L
ROLL.L
RMAU.L vs. ROLL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Royal Mint Physical Gold ETC Securities (RMAU.L) and iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF (ROLL.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.
| RMAU.L | ROLL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.31 | ||
| Sortino ratioReturn per unit of downside risk | -1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.37 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.85 | 2.50 | -1.64 |
| Martin ratioReturn relative to average drawdown | 2.08 | 8.63 | -6.55 |
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Drawdowns
RMAU.L vs. ROLL.L - Drawdown Comparison
The maximum RMAU.L drawdown since its inception was -24.69%, smaller than the maximum ROLL.L drawdown of -26.90%. Use the drawdown chart below to compare losses from any high point for RMAU.L and ROLL.L.
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Drawdown Indicators
| RMAU.L | ROLL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.69% | -26.90% | +2.21% |
Max Drawdown (1Y)Largest decline over 1 year | -24.69% | -13.94% | -10.75% |
Max Drawdown (3Y)Largest decline over 3 years | -24.69% | -13.94% | -10.75% |
Max Drawdown (5Y)Largest decline over 5 years | -24.69% | -20.45% | -4.24% |
Current DrawdownCurrent decline from peak | -23.91% | -7.46% | -16.45% |
Average DrawdownAverage peak-to-trough decline | -7.13% | -9.17% | +2.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.13% | 4.04% | +6.09% |
Volatility
RMAU.L vs. ROLL.L - Volatility Comparison
The Royal Mint Physical Gold ETC Securities (RMAU.L) has a higher volatility of 7.54% compared to iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF (ROLL.L) at 4.60%. This indicates that RMAU.L's price experiences larger fluctuations and is considered to be riskier than ROLL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RMAU.L | ROLL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.54% | 4.60% | +2.94% |
Volatility (6M)Calculated over the trailing 6-month period | 23.08% | 14.48% | +8.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.43% | 16.55% | +9.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.87% | 16.16% | +1.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.02% | 14.96% | +3.06% |
RMAU.L vs. ROLL.L - Expense Ratio Comparison
RMAU.L has a 0.22% expense ratio, which is lower than ROLL.L's 0.28% expense ratio.
Dividends
RMAU.L vs. ROLL.L - Dividend Comparison
Neither RMAU.L nor ROLL.L has paid dividends to shareholders.
Frequently Asked Questions
RMAU.L and ROLL.L have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, RMAU.L is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
RMAU.L is cheaper with a 0.22% expense ratio, compared with 0.28% for ROLL.L.
RMAU.L tracks LBMA Gold PM Price, while ROLL.L tracks iShares Bloomberg Enhanced Roll Yield Commodity Swap UCITS ETF. They also come from different issuers: HANetf and iShares. Their fees differ too: 0.22% for RMAU.L and 0.28% for ROLL.L.
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