SGLN.L vs. CMFP.L
SGLN.L (iShares Physical Gold ETC) and CMFP.L (L&G Longer Dated All Commodities UCITS ETF) are both exchange-traded funds - SGLN.L is a Gold fund tracking the LBMA Gold Price, while CMFP.L is a Commodities fund tracking the Bloomberg Commodity 3 Month Forward. Both are passively managed. Over the past 10 years, SGLN.L returned 13.01%/yr vs 8.48%/yr for CMFP.L. At a 0.40 correlation, their price movements are largely independent. SGLN.L charges 0.12%/yr vs 0.30%/yr for CMFP.L.
Performance
SGLN.L vs. CMFP.L - Performance Comparison
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Returns By Period
In the year-to-date period, SGLN.L achieves a -1.83% return, which is significantly lower than CMFP.L's 15.07% return. Over the past 10 years, SGLN.L has outperformed CMFP.L with an annualized return of 13.01%, while CMFP.L has yielded a comparatively lower 8.48% annualized return.
SGLN.L
- 1D
- 2.90%
- 1M
- -9.54%
- YTD
- -1.83%
- 6M
- -1.90%
- 1Y
- 24.78%
- 3Y*
- 26.65%
- 5Y*
- 18.64%
- 10Y*
- 13.01%
CMFP.L
- 1D
- -1.41%
- 1M
- -5.88%
- YTD
- 15.07%
- 6M
- 15.94%
- 1Y
- 24.58%
- 3Y*
- 10.01%
- 5Y*
- 12.15%
- 10Y*
- 8.48%
SGLN.L vs. CMFP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SGLN.L iShares Physical Gold ETC | -1.83% | 53.66% | 28.20% | 7.24% | 11.84% | -2.82% | 19.93% | 14.63% | 4.36% | 1.68% |
CMFP.L L&G Longer Dated All Commodities UCITS ETF | 15.07% | 8.49% | 6.86% | -11.43% | 32.79% | 34.61% | -0.92% | 3.99% | -3.16% | -6.17% |
Correlation
The correlation between SGLN.L and CMFP.L is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2011 | 0.40 |
The correlation between SGLN.L and CMFP.L shifts across timeframes, from 0.25 (1 year) to 0.40 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SGLN.L vs. CMFP.L — Risk / Return Rank
SGLN.L
CMFP.L
SGLN.L vs. CMFP.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 Longer Dated All Commodities UCITS ETF (CMFP.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 | CMFP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.31 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 3.73 | -2.60 |
| Martin ratioReturn relative to average drawdown | 3.51 | 9.12 | -5.61 |
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Drawdowns
SGLN.L vs. CMFP.L - Drawdown Comparison
The maximum SGLN.L drawdown since its inception was -53.23%, smaller than the maximum CMFP.L drawdown of -66.80%. Use the drawdown chart below to compare losses from any high point for SGLN.L and CMFP.L.
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Drawdown Indicators
| SGLN.L | CMFP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.23% | -66.80% | +13.57% |
Max Drawdown (1Y)Largest decline over 1 year | -22.87% | -6.94% | -15.93% |
Max Drawdown (3Y)Largest decline over 3 years | -22.87% | -25.15% | +2.28% |
Max Drawdown (5Y)Largest decline over 5 years | -22.87% | -25.15% | +2.28% |
Max Drawdown (10Y)Largest decline over 10 years | -22.87% | -25.15% | +2.28% |
Current DrawdownCurrent decline from peak | -20.64% | -8.48% | -12.16% |
Average DrawdownAverage peak-to-trough decline | -24.70% | -43.96% | +19.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.37% | 2.84% | +4.53% |
Volatility
SGLN.L vs. CMFP.L - Volatility Comparison
iShares Physical Gold ETC (SGLN.L) has a higher volatility of 6.68% compared to L&G Longer Dated All Commodities UCITS ETF (CMFP.L) at 3.85%. This indicates that SGLN.L's price experiences larger fluctuations and is considered to be riskier than CMFP.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 | CMFP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.68% | 3.85% | +2.83% |
Volatility (6M)Calculated over the trailing 6-month period | 20.78% | 12.31% | +8.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.82% | 14.89% | +8.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.84% | 20.04% | +1.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.84% | 16.83% | +2.01% |
SGLN.L vs. CMFP.L - Expense Ratio Comparison
SGLN.L has a 0.12% expense ratio, which is lower than CMFP.L's 0.30% expense ratio.
Dividends
SGLN.L vs. CMFP.L - Dividend Comparison
Neither SGLN.L nor CMFP.L has paid dividends to shareholders.
Frequently Asked Questions
SGLN.L and CMFP.L have a correlation of 0.25, 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 0.30% for CMFP.L.
SGLN.L is categorized as Gold, while CMFP.L is Commodities. SGLN.L tracks LBMA Gold Price, while CMFP.L tracks Bloomberg Commodity 3 Month Forward. They also come from different issuers: iShares and Legal & General. Their fees differ too: 0.12% for SGLN.L and 0.30% for CMFP.L.
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