SGLN.L vs. CMOD.L
SGLN.L (iShares Physical Gold ETC) and CMOD.L (Invesco Bloomberg Commodity UCITS ETF) are both exchange-traded funds - SGLN.L is a Gold fund tracking the LBMA Gold Price, while CMOD.L is a Commodities fund tracking the Bloomberg Commodity TR Index. Both are passively managed. Over the past 5 years, SGLN.L returned 19.24%/yr vs 11.66%/yr for CMOD.L. At a 0.32 correlation, their price movements are largely independent. SGLN.L charges 0.12%/yr vs 0.19%/yr for CMOD.L.
Performance
SGLN.L vs. CMOD.L - Performance Comparison
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Different Trading Currencies
SGLN.L is traded in GBp, while CMOD.L is traded in USD. To make them comparable, the CMOD.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 1.38% return, which is significantly lower than CMOD.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%
CMOD.L
- 1D
- -0.18%
- 1M
- -1.65%
- YTD
- 23.52%
- 6M
- 22.22%
- 1Y
- 35.45%
- 3Y*
- 11.97%
- 5Y*
- 11.66%
- 10Y*
- —
SGLN.L vs. CMOD.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% | 0.60% |
CMOD.L Invesco Bloomberg Commodity UCITS ETF | 23.52% | 7.88% | 5.93% | -12.18% | 28.11% | 28.55% | -6.69% | 2.58% | -4.90% | -8.14% |
Correlation
The correlation between SGLN.L and CMOD.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 | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jan 9, 2017 | 0.32 |
The correlation between SGLN.L and CMOD.L shifts across timeframes, from 0.21 (1 year) to 0.32 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SGLN.L vs. CMOD.L — Risk / Return Rank
SGLN.L
CMOD.L
SGLN.L vs. CMOD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (SGLN.L) and Invesco Bloomberg Commodity UCITS ETF (CMOD.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 | CMOD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.36 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 4.66 | -2.92 |
| Martin ratioReturn relative to average drawdown | 4.61 | 10.65 | -6.05 |
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 | CMOD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.35 | 1.94 | -0.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.89 | 0.69 | +0.19 |
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 | 0.38 | -0.13 |
Drawdowns
SGLN.L vs. CMOD.L - Drawdown Comparison
The maximum SGLN.L drawdown since its inception was -53.23%, which is greater than CMOD.L's maximum drawdown of -32.23%. Use the drawdown chart below to compare losses from any high point for SGLN.L and CMOD.L.
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Drawdown Indicators
| SGLN.L | CMOD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.23% | -32.23% | -21.00% |
Max Drawdown (1Y)Largest decline over 1 year | -18.04% | -7.56% | -10.48% |
Max Drawdown (3Y)Largest decline over 3 years | -20.33% | -14.93% | -5.40% |
Max Drawdown (5Y)Largest decline over 5 years | -20.33% | -28.95% | +8.62% |
Max Drawdown (10Y)Largest decline over 10 years | -22.30% | — | — |
Current DrawdownCurrent decline from peak | -18.04% | -6.09% | -11.95% |
Average DrawdownAverage peak-to-trough decline | -24.71% | -14.38% | -10.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.86% | 3.32% | +3.54% |
Volatility
SGLN.L vs. CMOD.L - Volatility Comparison
iShares Physical Gold ETC (SGLN.L) and Invesco Bloomberg Commodity UCITS ETF (CMOD.L) have volatilities of 4.84% and 4.90%, 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
| SGLN.L | CMOD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.84% | 4.90% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 20.20% | 15.88% | +4.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.35% | 18.24% | +5.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.74% | 16.82% | +4.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.80% | 15.35% | +3.45% |
SGLN.L vs. CMOD.L - Expense Ratio Comparison
SGLN.L has a 0.12% expense ratio, which is lower than CMOD.L's 0.19% 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. CMOD.L - Dividend Comparison
Neither SGLN.L nor CMOD.L has paid dividends to shareholders.
Frequently Asked Questions
SGLN.L and CMOD.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, 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 0.19% for CMOD.L.
SGLN.L is categorized as Gold, while CMOD.L is Commodities. SGLN.L tracks LBMA Gold Price, while CMOD.L tracks Bloomberg Commodity TR Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.12% for SGLN.L and 0.19% for CMOD.L.
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