SGLD.L vs. XGDG.L
SGLD.L (Invesco Physical Gold ETC) and XGDG.L (Xtrackers IE Physical Gold GBP Hedged ETC Securities) are both Gold funds - SGLD.L tracks the LBMA Gold Price PM while XGDG.L tracks the Gold (GBP Hedged). Both are passively managed. Over the past 5 years, SGLD.L returned 17.57%/yr vs 14.85%/yr for XGDG.L. Their correlation of 0.89 suggests significant overlap in exposure. SGLD.L charges 0.12%/yr vs 0.28%/yr for XGDG.L.
Performance
SGLD.L vs. XGDG.L - Performance Comparison
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Different Trading Currencies
SGLD.L is traded in USD, while XGDG.L is traded in GBp. To make them comparable, the XGDG.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 -6.68% return, which is significantly higher than XGDG.L's -9.17% return.
SGLD.L
- 1D
- 0.37%
- 1M
- -10.72%
- YTD
- -6.68%
- 6M
- -10.51%
- 1Y
- 20.90%
- 3Y*
- 27.67%
- 5Y*
- 17.57%
- 10Y*
- 11.57%
XGDG.L
- 1D
- 0.64%
- 1M
- -12.49%
- YTD
- -9.17%
- 6M
- -13.20%
- 1Y
- 15.29%
- 3Y*
- 27.85%
- 5Y*
- 14.85%
- 10Y*
- —
SGLD.L vs. XGDG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SGLD.L Invesco Physical Gold ETC | -6.68% | 64.87% | 26.23% | 13.36% | -0.08% | -4.08% | 8.13% |
XGDG.L Xtrackers IE Physical Gold GBP Hedged ETC Securities | -9.17% | 75.46% | 23.07% | 17.38% | -12.27% | -6.00% | 25.79% |
Correlation
The correlation between SGLD.L and XGDG.L is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since May 21, 2020 | 0.89 |
The correlation between SGLD.L and XGDG.L has been stable across timeframes, ranging from 0.89 to 0.96 - a consistent structural relationship.
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Return for Risk
SGLD.L vs. XGDG.L — Risk / Return Rank
SGLD.L
XGDG.L
SGLD.L vs. XGDG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold ETC (SGLD.L) and Xtrackers IE Physical Gold GBP Hedged ETC Securities (XGDG.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 | XGDG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.11 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.85 | 0.53 | +0.32 |
| Martin ratioReturn relative to average drawdown | 2.49 | 1.50 | +1.00 |
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Drawdowns
SGLD.L vs. XGDG.L - Drawdown Comparison
The maximum SGLD.L drawdown since its inception was -45.21%, which is greater than XGDG.L's maximum drawdown of -36.99%. Use the drawdown chart below to compare losses from any high point for SGLD.L and XGDG.L.
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Drawdown Indicators
| SGLD.L | XGDG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.21% | -36.99% | -8.22% |
Max Drawdown (1Y)Largest decline over 1 year | -24.36% | -28.54% | +4.18% |
Max Drawdown (3Y)Largest decline over 3 years | -24.36% | -28.54% | +4.18% |
Max Drawdown (5Y)Largest decline over 5 years | -24.36% | -35.63% | +11.27% |
Max Drawdown (10Y)Largest decline over 10 years | -24.36% | — | — |
Current DrawdownCurrent decline from peak | -24.07% | -28.08% | +4.01% |
Average DrawdownAverage peak-to-trough decline | -17.95% | -9.78% | -8.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.36% | 10.19% | -1.83% |
Volatility
SGLD.L vs. XGDG.L - Volatility Comparison
Invesco Physical Gold ETC (SGLD.L) and Xtrackers IE Physical Gold GBP Hedged ETC Securities (XGDG.L) have volatilities of 9.09% and 9.56%, 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 | XGDG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.09% | 9.56% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 23.04% | 25.20% | -2.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.95% | 28.67% | -2.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.57% | 21.83% | -4.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.64% | 21.70% | -6.06% |
SGLD.L vs. XGDG.L - Expense Ratio Comparison
SGLD.L has a 0.12% expense ratio, which is lower than XGDG.L's 0.28% expense ratio.
Dividends
SGLD.L vs. XGDG.L - Dividend Comparison
Neither SGLD.L nor XGDG.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, SGLD.L and XGDG.L 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.
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 0.28% for XGDG.L.
SGLD.L tracks LBMA Gold Price PM, while XGDG.L tracks Gold (GBP Hedged). They also come from different issuers: Invesco and Xtrackers. Their fees differ too: 0.12% for SGLD.L and 0.28% for XGDG.L.
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