SGLD.L vs. 8PSG.DE
SGLD.L (Invesco Physical Gold ETC) and 8PSG.DE (Invesco Physical Gold ETC) are both Gold funds from Invesco tracking the LBMA Gold Price PM. Both are passively managed. Over the past 5 years, SGLD.L returned 18.60%/yr vs 18.60%/yr for 8PSG.DE. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.12% expense ratio.
Performance
SGLD.L vs. 8PSG.DE - Performance Comparison
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Different Trading Currencies
SGLD.L is traded in USD, while 8PSG.DE is traded in EUR. To make them comparable, the 8PSG.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SGLD.L achieves a 3.72% return, which is significantly higher than 8PSG.DE's 1.54% return.
SGLD.L
- 1D
- 0.69%
- 1M
- -2.34%
- YTD
- 3.72%
- 6M
- 6.06%
- 1Y
- 32.43%
- 3Y*
- 31.54%
- 5Y*
- 18.60%
- 10Y*
- 13.41%
8PSG.DE
- 1D
- 0.71%
- 1M
- -2.26%
- YTD
- 1.54%
- 6M
- 6.08%
- 1Y
- 32.43%
- 3Y*
- 31.51%
- 5Y*
- 18.60%
- 10Y*
- —
SGLD.L vs. 8PSG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SGLD.L Invesco Physical Gold ETC | 3.72% | 64.87% | 26.23% | 13.36% | -0.08% | -4.08% | 18.52% |
8PSG.DE Invesco Physical Gold ETC | 1.54% | 68.18% | 26.61% | 12.89% | 1.11% | -4.38% | 18.01% |
Correlation
The correlation between SGLD.L and 8PSG.DE is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2020 | 0.93 |
The correlation between SGLD.L and 8PSG.DE has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.
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Return for Risk
SGLD.L vs. 8PSG.DE — Risk / Return Rank
SGLD.L
8PSG.DE
SGLD.L vs. 8PSG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold ETC (SGLD.L) and Invesco Physical Gold ETC (8PSG.DE). 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.
| SGLD.L | 8PSG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.25 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 1.88 | -0.02 |
| Martin ratioReturn relative to average drawdown | 4.82 | 4.79 | +0.02 |
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
| SGLD.L | 8PSG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.31 | 1.33 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.08 | 1.06 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.86 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 1.01 | -0.43 |
Drawdowns
SGLD.L vs. 8PSG.DE - Drawdown Comparison
The maximum SGLD.L drawdown since its inception was -45.21%, which is greater than 8PSG.DE's maximum drawdown of -21.38%. Use the drawdown chart below to compare losses from any high point for SGLD.L and 8PSG.DE.
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Drawdown Indicators
| SGLD.L | 8PSG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.21% | -21.38% | -23.83% |
Max Drawdown (1Y)Largest decline over 1 year | -17.34% | -17.16% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -17.34% | -17.16% | -0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -21.12% | -21.38% | +0.26% |
Max Drawdown (10Y)Largest decline over 10 years | -21.12% | — | — |
Current DrawdownCurrent decline from peak | -15.61% | -15.61% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -18.20% | -6.92% | -11.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.72% | 6.75% | -0.03% |
Volatility
SGLD.L vs. 8PSG.DE - Volatility Comparison
Invesco Physical Gold ETC (SGLD.L) has a higher volatility of 6.34% compared to Invesco Physical Gold ETC (8PSG.DE) at 5.66%. This indicates that SGLD.L's price experiences larger fluctuations and is considered to be riskier than 8PSG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SGLD.L | 8PSG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.34% | 5.66% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 21.72% | 21.07% | +0.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.72% | 24.33% | +0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.29% | 17.32% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.50% | 17.49% | -1.99% |
SGLD.L vs. 8PSG.DE - Expense Ratio Comparison
Both SGLD.L and 8PSG.DE have an expense ratio of 0.12%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SGLD.L vs. 8PSG.DE - Dividend Comparison
Neither SGLD.L nor 8PSG.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, SGLD.L and 8PSG.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.12% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SGLD.L and 8PSG.DE have the same expense ratio: 0.12% per year.
Both ETFs track LBMA Gold Price PM.
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