SGLN.L vs. SMT.L
SGLN.L (iShares Physical Gold ETC) and SMT.L (Scottish Mortgage Investment Trust plc) are both exchange-traded funds - SGLN.L is a Gold fund tracking the LBMA Gold Price, while SMT.L is a Global Equities fund actively managed by Baillie Gifford Funds. SGLN.L is passively managed, while SMT.L is actively managed. Over the past 10 years, SGLN.L returned 13.68%/yr vs 19.40%/yr for SMT.L. At a 0.01 correlation, their price movements are largely independent. SGLN.L charges 0.12%/yr vs 0.31%/yr for SMT.L.
Performance
SGLN.L vs. SMT.L - Performance Comparison
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Returns By Period
In the year-to-date period, SGLN.L achieves a 1.38% return, which is significantly lower than SMT.L's 21.25% return. Over the past 10 years, SGLN.L has underperformed SMT.L with an annualized return of 13.68%, while SMT.L has yielded a comparatively higher 19.40% annualized 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%
SMT.L
- 1D
- -2.84%
- 1M
- 0.35%
- YTD
- 21.25%
- 6M
- 31.38%
- 1Y
- 44.42%
- 3Y*
- 28.42%
- 5Y*
- 3.88%
- 10Y*
- 19.40%
SGLN.L vs. SMT.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% | 1.68% |
SMT.L Scottish Mortgage Investment Trust plc | 21.25% | 24.72% | 18.75% | 12.46% | -45.71% | 10.46% | 110.49% | 24.76% | 4.64% | 41.09% |
Correlation
The correlation between SGLN.L and SMT.L is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2011 | 0.01 |
The correlation between SGLN.L and SMT.L shifts across timeframes, from -0.03 (5 years) to 0.07 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SGLN.L vs. SMT.L — Risk / Return Rank
SGLN.L
SMT.L
SGLN.L vs. SMT.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (SGLN.L) and Scottish Mortgage Investment Trust plc (SMT.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 | SMT.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.82 | ||
| Sortino ratioReturn per unit of downside risk | -1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.39 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 3.61 | -1.86 |
| Martin ratioReturn relative to average drawdown | 4.61 | 12.10 | -7.50 |
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 | SMT.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.35 | 2.17 | -0.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.89 | 0.13 | +0.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | 0.67 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.73 | -0.48 |
Drawdowns
SGLN.L vs. SMT.L - Drawdown Comparison
The maximum SGLN.L drawdown since its inception was -53.23%, smaller than the maximum SMT.L drawdown of -60.25%. Use the drawdown chart below to compare losses from any high point for SGLN.L and SMT.L.
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Drawdown Indicators
| SGLN.L | SMT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.23% | -60.25% | +7.02% |
Max Drawdown (1Y)Largest decline over 1 year | -18.04% | -12.26% | -5.78% |
Max Drawdown (3Y)Largest decline over 3 years | -20.33% | -28.05% | +7.72% |
Max Drawdown (5Y)Largest decline over 5 years | -20.33% | -60.11% | +39.78% |
Max Drawdown (10Y)Largest decline over 10 years | -22.30% | -60.11% | +37.81% |
Current DrawdownCurrent decline from peak | -18.04% | -6.93% | -11.11% |
Average DrawdownAverage peak-to-trough decline | -24.71% | -14.79% | -9.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.86% | 3.66% | +3.20% |
Volatility
SGLN.L vs. SMT.L - Volatility Comparison
The current volatility for iShares Physical Gold ETC (SGLN.L) is 4.84%, while Scottish Mortgage Investment Trust plc (SMT.L) has a volatility of 5.67%. This indicates that SGLN.L experiences smaller price fluctuations and is considered to be less risky than SMT.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 | SMT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.84% | 5.67% | -0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 20.20% | 16.47% | +3.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.35% | 20.42% | +2.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.74% | 29.71% | -7.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.80% | 28.78% | -9.98% |
SGLN.L vs. SMT.L - Expense Ratio Comparison
SGLN.L has a 0.12% expense ratio, which is lower than SMT.L's 0.31% expense ratio.
Dividends
SGLN.L vs. SMT.L - Dividend Comparison
SGLN.L has not paid dividends to shareholders, while SMT.L's dividend yield for the trailing twelve months is around 0.30%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SGLN.L iShares Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMT.L Scottish Mortgage Investment Trust plc | 0.30% | 0.37% | 0.44% | 0.51% | 0.51% | 0.26% | 0.27% | 0.54% | 0.66% | 0.67% | 0.93% | 1.17% |
Frequently Asked Questions
SGLN.L and SMT.L have a correlation of 0.07, 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 0.31% for SMT.L.
SGLN.L is categorized as Gold, while SMT.L is Global Equities. They also come from different issuers: iShares and Baillie Gifford Funds. Their fees differ too: 0.12% for SGLN.L and 0.31% for SMT.L.
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