SGLN.L vs. GLDE.L
SGLN.L (iShares Physical Gold ETC) and GLDE.L (IncomeShares Gold + Yield ETP GBP) are both exchange-traded funds - SGLN.L is a Gold fund tracking the LBMA Gold Price, while GLDE.L is a Derivative Income fund actively managed by Leverage Shares. SGLN.L is passively managed, while GLDE.L is actively managed. Over the past year, SGLN.L returned 33.75% vs 18.32% for GLDE.L. Their correlation of 0.85 suggests significant overlap in exposure. SGLN.L charges 0.12%/yr vs 0.35%/yr for GLDE.L.
Performance
SGLN.L vs. GLDE.L - Performance Comparison
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Returns By Period
In the year-to-date period, SGLN.L achieves a 3.89% return, which is significantly higher than GLDE.L's -4.51% return.
SGLN.L
- 1D
- 0.70%
- 1M
- -1.36%
- YTD
- 3.89%
- 6M
- 5.42%
- 1Y
- 33.75%
- 3Y*
- 28.17%
- 5Y*
- 20.12%
- 10Y*
- 14.27%
GLDE.L
- 1D
- 0.34%
- 1M
- -1.77%
- YTD
- -4.51%
- 6M
- -3.50%
- 1Y
- 18.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SGLN.L vs. GLDE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SGLN.L iShares Physical Gold ETC | 3.89% | 53.66% | 11.68% |
GLDE.L IncomeShares Gold + Yield ETP GBP | -4.51% | 42.81% | 7.05% |
Correlation
The correlation between SGLN.L and GLDE.L is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2024 | 0.85 |
The correlation between SGLN.L and GLDE.L has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.
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Return for Risk
SGLN.L vs. GLDE.L — Risk / Return Rank
SGLN.L
GLDE.L
SGLN.L vs. GLDE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (SGLN.L) and IncomeShares Gold + Yield ETP GBP (GLDE.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 | GLDE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.18 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 1.08 | +0.83 |
| Martin ratioReturn relative to average drawdown | 5.05 | 2.67 | +2.38 |
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 | GLDE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.45 | 0.84 | +0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.23 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.90 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 1.21 | -0.66 |
Drawdowns
SGLN.L vs. GLDE.L - Drawdown Comparison
The maximum SGLN.L drawdown since its inception was -41.71%, which is greater than GLDE.L's maximum drawdown of -16.85%. Use the drawdown chart below to compare losses from any high point for SGLN.L and GLDE.L.
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Drawdown Indicators
| SGLN.L | GLDE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.71% | -16.85% | -24.86% |
Max Drawdown (1Y)Largest decline over 1 year | -17.57% | -16.85% | -0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -17.57% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.57% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -21.91% | — | — |
Current DrawdownCurrent decline from peak | -16.01% | -16.57% | +0.56% |
Average DrawdownAverage peak-to-trough decline | -14.76% | -3.34% | -11.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.67% | 6.85% | -0.18% |
Volatility
SGLN.L vs. GLDE.L - Volatility Comparison
iShares Physical Gold ETC (SGLN.L) has a higher volatility of 5.08% compared to IncomeShares Gold + Yield ETP GBP (GLDE.L) at 4.83%. This indicates that SGLN.L's price experiences larger fluctuations and is considered to be riskier than GLDE.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 | GLDE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.08% | 4.83% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 20.08% | 17.78% | +2.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.19% | 21.72% | +1.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.30% | 18.50% | -2.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.78% | 18.50% | -2.72% |
SGLN.L vs. GLDE.L - Expense Ratio Comparison
SGLN.L has a 0.12% expense ratio, which is lower than GLDE.L's 0.35% expense ratio.
Dividends
SGLN.L vs. GLDE.L - Dividend Comparison
SGLN.L has not paid dividends to shareholders, while GLDE.L's dividend yield for the trailing twelve months is around 4.67%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
GLDE.L IncomeShares Gold + Yield ETP GBP | 4.67% | 4.82% | 0.38% |
SGLN.L iShares Physical Gold ETC | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SGLN.L and GLDE.L have a correlation of 0.80, 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 0.35% for GLDE.L.
SGLN.L is categorized as Gold, while GLDE.L is Derivative Income. They also come from different issuers: iShares and Leverage Shares. Their fees differ too: 0.12% for SGLN.L and 0.35% for GLDE.L.
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