SGLD.L vs. TRET.L
SGLD.L (Invesco Physical Gold ETC) and TRET.L (VanEck Global Real Estate UCITS ETF) are both exchange-traded funds - SGLD.L is a Gold fund tracking the LBMA Gold Price PM, while TRET.L is a REIT fund tracking the GPR Global 100 Index. Both are passively managed. Over the past 10 years, SGLD.L returned 13.14%/yr vs 5.07%/yr for TRET.L. At a 0.05 correlation, their price movements are largely independent. SGLD.L charges 0.12%/yr vs 0.25%/yr for TRET.L.
Performance
SGLD.L vs. TRET.L - Performance Comparison
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Returns By Period
In the year-to-date period, SGLD.L achieves a 0.84% return, which is significantly lower than TRET.L's 5.17% return. Over the past 10 years, SGLD.L has outperformed TRET.L with an annualized return of 13.14%, while TRET.L has yielded a comparatively lower 5.07% annualized return.
SGLD.L
- 1D
- -2.78%
- 1M
- -7.40%
- YTD
- 0.84%
- 6M
- 3.10%
- 1Y
- 29.40%
- 3Y*
- 30.23%
- 5Y*
- 17.93%
- 10Y*
- 13.14%
TRET.L
- 1D
- 1.10%
- 1M
- -3.06%
- YTD
- 5.17%
- 6M
- 5.29%
- 1Y
- 12.82%
- 3Y*
- 11.09%
- 5Y*
- 2.56%
- 10Y*
- 5.07%
SGLD.L vs. TRET.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SGLD.L Invesco Physical Gold ETC | 0.84% | 64.87% | 26.23% | 13.36% | -0.08% | -4.08% | 24.18% | 18.33% | -1.30% | 11.54% |
TRET.L VanEck Global Real Estate UCITS ETF | 5.17% | 14.41% | 1.07% | 13.92% | -25.67% | 29.73% | -6.91% | 36.63% | 0.98% | -3.31% |
Correlation
The correlation between SGLD.L and TRET.L is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2011 | 0.05 |
The correlation between SGLD.L and TRET.L shifts across timeframes, from 0.05 (all time) to 0.24 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SGLD.L vs. TRET.L — Risk / Return Rank
SGLD.L
TRET.L
SGLD.L vs. TRET.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold ETC (SGLD.L) and VanEck Global Real Estate UCITS ETF (TRET.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.
| SGLD.L | TRET.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.18 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 1.22 | +0.41 |
| Martin ratioReturn relative to average drawdown | 4.31 | 4.23 | +0.08 |
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 | TRET.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.17 | 1.03 | +0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.03 | 0.15 | +0.88 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.84 | 0.28 | +0.56 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.38 | +0.18 |
Drawdowns
SGLD.L vs. TRET.L - Drawdown Comparison
The maximum SGLD.L drawdown since its inception was -45.21%, which is greater than TRET.L's maximum drawdown of -42.25%. Use the drawdown chart below to compare losses from any high point for SGLD.L and TRET.L.
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Drawdown Indicators
| SGLD.L | TRET.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.21% | -42.25% | -2.96% |
Max Drawdown (1Y)Largest decline over 1 year | -17.96% | -10.49% | -7.47% |
Max Drawdown (3Y)Largest decline over 3 years | -17.96% | -16.92% | -1.04% |
Max Drawdown (5Y)Largest decline over 5 years | -21.12% | -33.35% | +12.23% |
Max Drawdown (10Y)Largest decline over 10 years | -21.12% | -42.25% | +21.13% |
Current DrawdownCurrent decline from peak | -17.96% | -4.86% | -13.10% |
Average DrawdownAverage peak-to-trough decline | -17.94% | -10.62% | -7.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.81% | 3.02% | +3.79% |
Volatility
SGLD.L vs. TRET.L - Volatility Comparison
Invesco Physical Gold ETC (SGLD.L) has a higher volatility of 6.27% compared to VanEck Global Real Estate UCITS ETF (TRET.L) at 3.51%. This indicates that SGLD.L's price experiences larger fluctuations and is considered to be riskier than TRET.L 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 | TRET.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.27% | 3.51% | +2.76% |
Volatility (6M)Calculated over the trailing 6-month period | 21.88% | 9.63% | +12.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.94% | 12.37% | +12.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.35% | 16.82% | +0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 17.97% | -2.43% |
SGLD.L vs. TRET.L - Expense Ratio Comparison
SGLD.L has a 0.12% expense ratio, which is lower than TRET.L's 0.25% 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. TRET.L - Dividend Comparison
SGLD.L has not paid dividends to shareholders, while TRET.L's dividend yield for the trailing twelve months is around 3.45%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
SGLD.L Invesco Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TRET.L VanEck Global Real Estate UCITS ETF | 3.45% | 3.54% | 3.56% | 3.54% | 4.55% | 1.86% | 4.18% | 3.32% | 5.03% | 3.63% |
Frequently Asked Questions
SGLD.L and TRET.L have a correlation of 0.21, 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 0.25% for TRET.L.
SGLD.L is categorized as Gold, while TRET.L is REIT. SGLD.L tracks LBMA Gold Price PM, while TRET.L tracks GPR Global 100 Index. They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.12% for SGLD.L and 0.25% for TRET.L.
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