SGLN.L vs. IBTU.L
SGLN.L (iShares Physical Gold ETC) and IBTU.L (iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist)) are both exchange-traded funds - SGLN.L is a Gold fund tracking the LBMA Gold Price, while IBTU.L is a Government Bonds fund tracking the ICE U.S. Treasury Short Bond Index. Both are passively managed. Over the past 5 years, SGLN.L returned 20.12%/yr vs 4.49%/yr for IBTU.L. At a 0.13 correlation, their price movements are largely independent. SGLN.L charges 0.12%/yr vs 0.07%/yr for IBTU.L.
Performance
SGLN.L vs. IBTU.L - Performance Comparison
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Different Trading Currencies
SGLN.L is traded in GBp, while IBTU.L is traded in USD. To make them comparable, the IBTU.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 3.89% return, which is significantly higher than IBTU.L's 1.75% 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%
IBTU.L
- 1D
- 0.00%
- 1M
- 1.18%
- YTD
- 1.75%
- 6M
- 1.03%
- 1Y
- 4.94%
- 3Y*
- 2.09%
- 5Y*
- 4.49%
- 10Y*
- —
SGLN.L vs. IBTU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SGLN.L iShares Physical Gold ETC | 3.89% | 53.66% | 28.20% | 7.24% | 11.84% | -2.57% | 19.62% | 13.03% |
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 1.80% | -3.07% | 7.07% | -0.29% | 13.11% | 0.93% | -2.00% | 0.34% |
Correlation
The correlation between SGLN.L and IBTU.L is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Feb 25, 2019 | 0.13 |
The correlation between SGLN.L and IBTU.L shifts across timeframes, from -0.11 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SGLN.L vs. IBTU.L — Risk / Return Rank
SGLN.L
IBTU.L
SGLN.L vs. IBTU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (SGLN.L) and iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.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 | IBTU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.13 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 0.96 | +0.95 |
| Martin ratioReturn relative to average drawdown | 5.05 | 2.62 | +2.43 |
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 | IBTU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.45 | 0.75 | +0.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.23 | 0.53 | +0.70 |
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 | 0.27 | +0.28 |
Drawdowns
SGLN.L vs. IBTU.L - Drawdown Comparison
The maximum SGLN.L drawdown since its inception was -41.71%, which is greater than IBTU.L's maximum drawdown of -19.01%. Use the drawdown chart below to compare losses from any high point for SGLN.L and IBTU.L.
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Drawdown Indicators
| SGLN.L | IBTU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.71% | -19.01% | -22.70% |
Max Drawdown (1Y)Largest decline over 1 year | -17.57% | -5.12% | -12.45% |
Max Drawdown (3Y)Largest decline over 3 years | -17.57% | -9.80% | -7.77% |
Max Drawdown (5Y)Largest decline over 5 years | -17.57% | -15.91% | -1.66% |
Max Drawdown (10Y)Largest decline over 10 years | -21.91% | — | — |
Current DrawdownCurrent decline from peak | -16.01% | -6.09% | -9.92% |
Average DrawdownAverage peak-to-trough decline | -14.76% | -9.25% | -5.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.67% | 1.88% | +4.79% |
Volatility
SGLN.L vs. IBTU.L - Volatility Comparison
iShares Physical Gold ETC (SGLN.L) has a higher volatility of 5.08% compared to iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) (IBTU.L) at 1.77%. This indicates that SGLN.L's price experiences larger fluctuations and is considered to be riskier than IBTU.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 | IBTU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.08% | 1.77% | +3.31% |
Volatility (6M)Calculated over the trailing 6-month period | 20.08% | 4.96% | +15.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.19% | 6.55% | +16.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.30% | 8.45% | +7.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.78% | 8.76% | +7.02% |
SGLN.L vs. IBTU.L - Expense Ratio Comparison
SGLN.L has a 0.12% expense ratio, which is higher than IBTU.L's 0.07% expense ratio. However, 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. IBTU.L - Dividend Comparison
SGLN.L has not paid dividends to shareholders, while IBTU.L's dividend yield for the trailing twelve months is around 4.07%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IBTU.L iShares USD Treasury Bond 0-1yr UCITS ETF USD (Dist) | 4.07% | 4.43% | 6.82% | 3.99% | 0.44% | 0.10% | 1.28% | 1.21% |
SGLN.L iShares Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SGLN.L and IBTU.L have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBTU.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBTU.L is cheaper with a 0.07% expense ratio, compared with 0.12% for SGLN.L.
SGLN.L is categorized as Gold, while IBTU.L is Government Bonds. SGLN.L tracks LBMA Gold Price, while IBTU.L tracks ICE U.S. Treasury Short Bond Index. Their fees differ too: 0.12% for SGLN.L and 0.07% for IBTU.L.
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