SGLN.L vs. BCOG.L
SGLN.L (iShares Physical Gold ETC) and BCOG.L (L&G All Commodities UCITS ETF) are both exchange-traded funds - SGLN.L is a Gold fund tracking the LBMA Gold Price, while BCOG.L is a Commodities fund tracking the Bloomberg Commodity. Both are passively managed. Over the past 5 years, SGLN.L returned 19.24%/yr vs 12.02%/yr for BCOG.L. At a 0.31 correlation, their price movements are largely independent. SGLN.L charges 0.12%/yr vs 0.15%/yr for BCOG.L.
Performance
SGLN.L vs. BCOG.L - Performance Comparison
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Returns By Period
In the year-to-date period, SGLN.L achieves a 1.38% return, which is significantly lower than BCOG.L's 23.52% return.
SGLN.L
- 1D
- -0.06%
- 1M
- -6.00%
- YTD
- 1.38%
- 6M
- 3.07%
- 1Y
- 31.70%
- 3Y*
- 27.57%
- 5Y*
- 19.24%
- 10Y*
- 13.68%
BCOG.L
- 1D
- 0.10%
- 1M
- -1.59%
- YTD
- 23.52%
- 6M
- 22.25%
- 1Y
- 34.88%
- 3Y*
- 12.12%
- 5Y*
- 12.02%
- 10Y*
- —
SGLN.L vs. BCOG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SGLN.L iShares Physical Gold ETC | 1.38% | 53.66% | 28.20% | 7.24% | 11.84% | -2.82% | 19.93% | 14.63% | 4.36% | 1.32% |
BCOG.L L&G All Commodities UCITS ETF | 23.52% | 8.16% | 6.13% | -12.32% | 29.36% | 29.04% | -6.24% | 1.82% | -1.43% | -23.52% |
Correlation
The correlation between SGLN.L and BCOG.L is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jul 6, 2017 | 0.31 |
The correlation between SGLN.L and BCOG.L shifts across timeframes, from 0.22 (1 year) to 0.35 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SGLN.L vs. BCOG.L — Risk / Return Rank
SGLN.L
BCOG.L
SGLN.L vs. BCOG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (SGLN.L) and L&G All Commodities UCITS ETF (BCOG.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.
| SGLN.L | BCOG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.34 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 4.05 | -2.30 |
| Martin ratioReturn relative to average drawdown | 4.61 | 9.26 | -4.65 |
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
| SGLN.L | BCOG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.35 | 1.87 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.89 | 0.56 | +0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.23 | +0.02 |
Drawdowns
SGLN.L vs. BCOG.L - Drawdown Comparison
The maximum SGLN.L drawdown since its inception was -53.23%, which is greater than BCOG.L's maximum drawdown of -40.03%. Use the drawdown chart below to compare losses from any high point for SGLN.L and BCOG.L.
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Drawdown Indicators
| SGLN.L | BCOG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.23% | -40.03% | -13.20% |
Max Drawdown (1Y)Largest decline over 1 year | -18.04% | -8.57% | -9.47% |
Max Drawdown (3Y)Largest decline over 3 years | -20.33% | -26.54% | +6.21% |
Max Drawdown (5Y)Largest decline over 5 years | -20.33% | -27.76% | +7.43% |
Max Drawdown (10Y)Largest decline over 10 years | -22.30% | — | — |
Current DrawdownCurrent decline from peak | -18.04% | -6.27% | -11.77% |
Average DrawdownAverage peak-to-trough decline | -24.71% | -19.08% | -5.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.86% | 3.76% | +3.10% |
Volatility
SGLN.L vs. BCOG.L - Volatility Comparison
The current volatility for iShares Physical Gold ETC (SGLN.L) is 4.84%, while L&G All Commodities UCITS ETF (BCOG.L) has a volatility of 5.54%. This indicates that SGLN.L experiences smaller price fluctuations and is considered to be less risky than BCOG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SGLN.L | BCOG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.84% | 5.54% | -0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 20.20% | 15.94% | +4.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.35% | 18.56% | +4.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.74% | 21.51% | +0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.80% | 19.89% | -1.09% |
SGLN.L vs. BCOG.L - Expense Ratio Comparison
SGLN.L has a 0.12% expense ratio, which is lower than BCOG.L's 0.15% 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
SGLN.L vs. BCOG.L - Dividend Comparison
Neither SGLN.L nor BCOG.L has paid dividends to shareholders.
Frequently Asked Questions
SGLN.L and BCOG.L have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGLN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGLN.L is cheaper with a 0.12% expense ratio, compared with 0.15% for BCOG.L.
SGLN.L is categorized as Gold, while BCOG.L is Commodities. SGLN.L tracks LBMA Gold Price, while BCOG.L tracks Bloomberg Commodity. They also come from different issuers: iShares and Legal & General. Their fees differ too: 0.12% for SGLN.L and 0.15% for BCOG.L.
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