SGLN.L vs. CEUG.L
SGLN.L (iShares Physical Gold ETC) and CEUG.L (iShares MSCI EMU UCITS ETF GBP Hedged (Dist)) are both exchange-traded funds - SGLN.L is a Gold fund tracking the LBMA Gold Price, while CEUG.L is a Europe Equities fund tracking the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, SGLN.L returned 18.64%/yr vs 12.17%/yr for CEUG.L. At a correlation of -0.09, they often move in opposite directions. Both charge a 0.12% expense ratio.
Performance
SGLN.L vs. CEUG.L - Performance Comparison
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Different Trading Currencies
SGLN.L is traded in GBp, while CEUG.L is traded in GBP. To make them comparable, the CEUG.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, SGLN.L achieves a -1.83% return, which is significantly lower than CEUG.L's 11.57% return.
SGLN.L
- 1D
- 2.90%
- 1M
- -9.40%
- YTD
- -1.83%
- 6M
- -1.90%
- 1Y
- 25.94%
- 3Y*
- 26.65%
- 5Y*
- 18.64%
- 10Y*
- 13.01%
CEUG.L
- 1D
- 2.06%
- 1M
- 5.84%
- YTD
- 11.57%
- 6M
- 13.31%
- 1Y
- 22.80%
- 3Y*
- 18.00%
- 5Y*
- 12.17%
- 10Y*
- —
SGLN.L vs. CEUG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SGLN.L iShares Physical Gold ETC | -1.83% | 53.66% | 28.20% | 7.24% | 11.84% | -2.82% | 19.93% | 14.63% | 2.27% |
CEUG.L iShares MSCI EMU UCITS ETF GBP Hedged (Dist) | 11.57% | 26.85% | 10.80% | 20.45% | -10.50% | 22.91% | -0.24% | 26.08% | -12.18% |
Correlation
The correlation between SGLN.L and CEUG.L is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since May 31, 2018 | -0.09 |
The correlation between SGLN.L and CEUG.L shifts across timeframes, from -0.09 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SGLN.L vs. CEUG.L — Risk / Return Rank
SGLN.L
CEUG.L
SGLN.L vs. CEUG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (SGLN.L) and iShares MSCI EMU UCITS ETF GBP Hedged (Dist) (CEUG.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.
| SGLN.L | CEUG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.30 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 2.26 | -1.13 |
| Martin ratioReturn relative to average drawdown | 3.51 | 8.53 | -5.02 |
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Drawdowns
SGLN.L vs. CEUG.L - Drawdown Comparison
The maximum SGLN.L drawdown since its inception was -53.23%, which is greater than CEUG.L's maximum drawdown of -38.52%. Use the drawdown chart below to compare losses from any high point for SGLN.L and CEUG.L.
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Drawdown Indicators
| SGLN.L | CEUG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.23% | -38.52% | -14.71% |
Max Drawdown (1Y)Largest decline over 1 year | -22.87% | -10.04% | -12.83% |
Max Drawdown (3Y)Largest decline over 3 years | -22.87% | -15.35% | -7.52% |
Max Drawdown (5Y)Largest decline over 5 years | -22.87% | -24.06% | +1.19% |
Max Drawdown (10Y)Largest decline over 10 years | -22.87% | — | — |
Current DrawdownCurrent decline from peak | -20.64% | 0.00% | -20.64% |
Average DrawdownAverage peak-to-trough decline | -24.70% | -5.50% | -19.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.37% | 2.67% | +4.70% |
Volatility
SGLN.L vs. CEUG.L - Volatility Comparison
iShares Physical Gold ETC (SGLN.L) has a higher volatility of 6.68% compared to iShares MSCI EMU UCITS ETF GBP Hedged (Dist) (CEUG.L) at 4.17%. This indicates that SGLN.L's price experiences larger fluctuations and is considered to be riskier than CEUG.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 | CEUG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.68% | 4.17% | +2.51% |
Volatility (6M)Calculated over the trailing 6-month period | 20.78% | 11.63% | +9.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.82% | 14.27% | +9.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.84% | 16.25% | +5.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.84% | 18.09% | +0.75% |
SGLN.L vs. CEUG.L - Expense Ratio Comparison
Both SGLN.L and CEUG.L 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
SGLN.L vs. CEUG.L - Dividend Comparison
SGLN.L has not paid dividends to shareholders, while CEUG.L's dividend yield for the trailing twelve months is around 2.32%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CEUG.L iShares MSCI EMU UCITS ETF GBP Hedged (Dist) | 2.32% | 2.53% | 2.81% | 2.73% | 2.84% | 1.81% | 1.77% | 3.05% | 0.38% |
SGLN.L iShares Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SGLN.L and CEUG.L have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.12% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SGLN.L and CEUG.L have the same expense ratio: 0.12% per year.
SGLN.L is categorized as Gold, while CEUG.L is Europe Equities. SGLN.L tracks LBMA Gold Price, while CEUG.L tracks MSCI Europe NR EUR.
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