SGLN.L vs. SMEA.L
SGLN.L (iShares Physical Gold ETC) and SMEA.L (iShares Core MSCI Europe UCITS ETF EUR (Acc)) are both exchange-traded funds - SGLN.L is a Gold fund tracking the LBMA Gold Price, while SMEA.L is a Europe Equities fund tracking the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, SGLN.L returned 13.45%/yr vs 10.90%/yr for SMEA.L. At a 0.06 correlation, their price movements are largely independent. Both charge a 0.12% expense ratio.
Performance
SGLN.L vs. SMEA.L - Performance Comparison
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Returns By Period
In the year-to-date period, SGLN.L achieves a 1.11% return, which is significantly lower than SMEA.L's 8.24% return. Over the past 10 years, SGLN.L has outperformed SMEA.L with an annualized return of 13.45%, while SMEA.L has yielded a comparatively lower 10.90% annualized return.
SGLN.L
- 1D
- 3.00%
- 1M
- -5.02%
- YTD
- 1.11%
- 6M
- 0.92%
- 1Y
- 28.52%
- 3Y*
- 28.28%
- 5Y*
- 19.57%
- 10Y*
- 13.45%
SMEA.L
- 1D
- 0.27%
- 1M
- 4.14%
- YTD
- 8.24%
- 6M
- 9.09%
- 1Y
- 21.13%
- 3Y*
- 14.21%
- 5Y*
- 10.04%
- 10Y*
- 10.90%
SGLN.L vs. SMEA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SGLN.L iShares Physical Gold ETC | 1.11% | 53.66% | 28.20% | 7.24% | 11.84% | -2.82% | 19.93% | 14.63% | 4.36% | 1.68% |
SMEA.L iShares Core MSCI Europe UCITS ETF EUR (Acc) | 8.24% | 25.88% | 3.68% | 13.36% | -3.48% | 16.94% | 2.44% | 19.59% | -9.45% | 14.92% |
Correlation
The correlation between SGLN.L and SMEA.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 | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2011 | 0.06 |
The correlation between SGLN.L and SMEA.L shifts across timeframes, from 0.06 (5 years) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SGLN.L vs. SMEA.L — Risk / Return Rank
SGLN.L
SMEA.L
SGLN.L vs. SMEA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (SGLN.L) and iShares Core MSCI Europe UCITS ETF EUR (Acc) (SMEA.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 | SMEA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.33 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 1.99 | -0.75 |
| Martin ratioReturn relative to average drawdown | 3.82 | 7.11 | -3.30 |
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Drawdowns
SGLN.L vs. SMEA.L - Drawdown Comparison
The maximum SGLN.L drawdown since its inception was -53.23%, which is greater than SMEA.L's maximum drawdown of -30.06%. Use the drawdown chart below to compare losses from any high point for SGLN.L and SMEA.L.
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Drawdown Indicators
| SGLN.L | SMEA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.23% | -30.06% | -23.17% |
Max Drawdown (1Y)Largest decline over 1 year | -22.87% | -10.56% | -12.31% |
Max Drawdown (3Y)Largest decline over 3 years | -22.87% | -14.06% | -8.81% |
Max Drawdown (5Y)Largest decline over 5 years | -22.87% | -15.76% | -7.11% |
Max Drawdown (10Y)Largest decline over 10 years | -22.87% | -28.56% | +5.69% |
Current DrawdownCurrent decline from peak | -18.26% | 0.00% | -18.26% |
Average DrawdownAverage peak-to-trough decline | -24.70% | -6.65% | -18.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.46% | 2.96% | +4.50% |
Volatility
SGLN.L vs. SMEA.L - Volatility Comparison
iShares Physical Gold ETC (SGLN.L) has a higher volatility of 7.49% compared to iShares Core MSCI Europe UCITS ETF EUR (Acc) (SMEA.L) at 3.27%. This indicates that SGLN.L's price experiences larger fluctuations and is considered to be riskier than SMEA.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 | SMEA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.49% | 3.27% | +4.22% |
Volatility (6M)Calculated over the trailing 6-month period | 20.98% | 10.27% | +10.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.00% | 12.15% | +11.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.88% | 18.17% | +3.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.85% | 17.03% | +1.82% |
SGLN.L vs. SMEA.L - Expense Ratio Comparison
Both SGLN.L and SMEA.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. SMEA.L - Dividend Comparison
Neither SGLN.L nor SMEA.L has paid dividends to shareholders.
Frequently Asked Questions
SGLN.L and SMEA.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.
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 SMEA.L have the same expense ratio: 0.12% per year.
SGLN.L is categorized as Gold, while SMEA.L is Europe Equities. SGLN.L tracks LBMA Gold Price, while SMEA.L tracks MSCI Europe NR EUR.
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