SGLD.L vs. IUVF.L
SGLD.L (Invesco Physical Gold ETC) and IUVF.L (iShares Edge MSCI USA Value Factor UCITS) are both exchange-traded funds - SGLD.L is a Gold fund tracking the LBMA Gold Price PM, while IUVF.L is a Large Cap Value Equities fund tracking the Russell 1000 Value TR USD. Both are passively managed. Over the past 5 years, SGLD.L returned 17.13%/yr vs 15.65%/yr for IUVF.L. At a 0.04 correlation, their price movements are largely independent. SGLD.L charges 0.12%/yr vs 0.20%/yr for IUVF.L.
Performance
SGLD.L vs. IUVF.L - Performance Comparison
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Different Trading Currencies
SGLD.L is traded in USD, while IUVF.L is traded in GBp. To make them comparable, the IUVF.L 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 -6.84% return, which is significantly lower than IUVF.L's 39.06% return.
SGLD.L
- 1D
- -0.78%
- 1M
- -7.14%
- 6M
- -12.96%
- YTD
- -6.84%
- 1Y
- 18.93%
- 3Y*
- 27.00%
- 5Y*
- 17.13%
- 10Y*
- 11.50%
IUVF.L
- 1D
- -1.01%
- 1M
- -5.07%
- 6M
- 32.07%
- YTD
- 39.06%
- 1Y
- 73.02%
- 3Y*
- 28.97%
- 5Y*
- 15.65%
- 10Y*
- —
SGLD.L vs. IUVF.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SGLD.L Invesco Physical Gold ETC | -6.84% | 64.87% | 26.23% | 13.36% | -0.08% | -4.08% | 24.18% | 18.33% | -1.30% | 11.54% |
IUVF.L iShares Edge MSCI USA Value Factor UCITS | 39.06% | 33.27% | 6.43% | 13.99% | -14.83% | 30.10% | -1.83% | 27.01% | -12.42% | 21.44% |
Correlation
The correlation between SGLD.L and IUVF.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2016 | 0.04 |
Over the past year, SGLD.L and IUVF.L have become more correlated (0.29) than their long-term average of 0.04, meaning their price movements have been converging.
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Return for Risk
SGLD.L vs. IUVF.L — Risk / Return Rank
SGLD.L
IUVF.L
SGLD.L vs. IUVF.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold ETC (SGLD.L) and iShares Edge MSCI USA Value Factor UCITS (IUVF.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.
| SGLD.L | IUVF.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.31 | ||
| Sortino ratioReturn per unit of downside risk | -4.38 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.67 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | 0.77 | 9.40 | -8.63 |
| Martin ratioReturn relative to average drawdown | 1.88 | 32.41 | -30.53 |
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Drawdowns
SGLD.L vs. IUVF.L - Drawdown Comparison
The maximum SGLD.L drawdown since its inception was -45.21%, which is greater than IUVF.L's maximum drawdown of -39.29%. Use the drawdown chart below to compare losses from any high point for SGLD.L and IUVF.L.
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Drawdown Indicators
| SGLD.L | IUVF.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.21% | -39.29% | -5.92% |
Max Drawdown (1Y)Largest decline over 1 year | -24.36% | -7.73% | -16.63% |
Max Drawdown (3Y)Largest decline over 3 years | -24.36% | -18.56% | -5.80% |
Max Drawdown (5Y)Largest decline over 5 years | -24.36% | -27.00% | +2.64% |
Max Drawdown (10Y)Largest decline over 10 years | -24.36% | — | — |
Current DrawdownCurrent decline from peak | -24.20% | -6.66% | -17.54% |
Average DrawdownAverage peak-to-trough decline | -17.97% | -7.34% | -10.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.07% | 2.25% | +7.82% |
Volatility
SGLD.L vs. IUVF.L - Volatility Comparison
Invesco Physical Gold ETC (SGLD.L) and iShares Edge MSCI USA Value Factor UCITS (IUVF.L) have volatilities of 7.46% and 7.70%, 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
| SGLD.L | IUVF.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.46% | 7.70% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 22.99% | 15.54% | +7.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.39% | 18.19% | +8.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.73% | 17.83% | -0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.71% | 19.07% | -3.36% |
SGLD.L vs. IUVF.L - Expense Ratio Comparison
SGLD.L has a 0.12% expense ratio, which is lower than IUVF.L's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SGLD.L vs. IUVF.L - Dividend Comparison
Neither SGLD.L nor IUVF.L has paid dividends to shareholders.
Frequently Asked Questions
SGLD.L and IUVF.L have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGLD.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGLD.L is cheaper with a 0.12% expense ratio, compared with 0.20% for IUVF.L.
SGLD.L is categorized as Gold, while IUVF.L is Large Cap Value Equities. SGLD.L tracks LBMA Gold Price PM, while IUVF.L tracks Russell 1000 Value TR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.12% for SGLD.L and 0.20% for IUVF.L.
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