SGLN.L vs. SPXP.L
SGLN.L (iShares Physical Gold ETC) and SPXP.L (Invesco S&P 500 UCITS ETF) are both exchange-traded funds - SGLN.L is a Gold fund tracking the LBMA Gold Price, while SPXP.L is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SGLN.L returned 13.68%/yr vs -26.75%/yr for SPXP.L. At a 0.05 correlation, their price movements are largely independent. SGLN.L charges 0.12%/yr vs 0.05%/yr for SPXP.L.
Performance
SGLN.L vs. SPXP.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 SPXP.L's 9.42% return. Over the past 10 years, SGLN.L has outperformed SPXP.L with an annualized return of 13.68%, while SPXP.L has yielded a comparatively lower -26.75% 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%
SPXP.L
- 1D
- -0.45%
- 1M
- 2.91%
- YTD
- 9.42%
- 6M
- 9.07%
- 1Y
- -98.73%
- 3Y*
- -74.32%
- 5Y*
- -54.31%
- 10Y*
- -26.75%
SGLN.L vs. SPXP.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% |
SPXP.L Invesco S&P 500 UCITS ETF | 9.42% | -98.90% | 27.58% | 20.06% | -8.79% | 31.26% | 13.90% | 26.76% | 0.26% | 10.77% |
Correlation
The correlation between SGLN.L and SPXP.L is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2014 | 0.05 |
The correlation between SGLN.L and SPXP.L shifts across timeframes, from 0.01 (5 years) to 0.14 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SGLN.L vs. SPXP.L — Risk / Return Rank
SGLN.L
SPXP.L
SGLN.L vs. SPXP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (SGLN.L) and Invesco S&P 500 UCITS ETF (SPXP.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 | SPXP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.35 | ||
| Sortino ratioReturn per unit of downside risk | +2.52 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.51 | +0.76 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | -1.00 | +2.75 |
| Martin ratioReturn relative to average drawdown | 4.61 | -1.35 | +5.95 |
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 | SPXP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.35 | -0.99 | +2.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.89 | -1.17 | +2.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.73 | -0.76 | +1.49 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | -0.65 | +0.90 |
Drawdowns
SGLN.L vs. SPXP.L - Drawdown Comparison
The maximum SGLN.L drawdown since its inception was -53.23%, smaller than the maximum SPXP.L drawdown of -99.07%. Use the drawdown chart below to compare losses from any high point for SGLN.L and SPXP.L.
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Drawdown Indicators
| SGLN.L | SPXP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.23% | -99.07% | +45.84% |
Max Drawdown (1Y)Largest decline over 1 year | -18.04% | -99.07% | +81.03% |
Max Drawdown (3Y)Largest decline over 3 years | -20.33% | -99.07% | +78.74% |
Max Drawdown (5Y)Largest decline over 5 years | -20.33% | -99.07% | +78.74% |
Max Drawdown (10Y)Largest decline over 10 years | -22.30% | -99.07% | +76.77% |
Current DrawdownCurrent decline from peak | -18.04% | -98.92% | +80.88% |
Average DrawdownAverage peak-to-trough decline | -24.71% | -7.87% | -16.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.86% | 73.53% | -66.67% |
Volatility
SGLN.L vs. SPXP.L - Volatility Comparison
iShares Physical Gold ETC (SGLN.L) has a higher volatility of 4.84% compared to Invesco S&P 500 UCITS ETF (SPXP.L) at 2.72%. This indicates that SGLN.L's price experiences larger fluctuations and is considered to be riskier than SPXP.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 | SPXP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.84% | 2.72% | +2.12% |
Volatility (6M)Calculated over the trailing 6-month period | 20.20% | 7.23% | +12.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.35% | 99.47% | -76.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.74% | 46.54% | -24.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.80% | 34.96% | -16.16% |
SGLN.L vs. SPXP.L - Expense Ratio Comparison
SGLN.L has a 0.12% expense ratio, which is higher than SPXP.L's 0.05% 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. SPXP.L - Dividend Comparison
Neither SGLN.L nor SPXP.L has paid dividends to shareholders.
Frequently Asked Questions
SGLN.L and SPXP.L have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPXP.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXP.L is cheaper with a 0.05% expense ratio, compared with 0.12% for SGLN.L.
SGLN.L is categorized as Gold, while SPXP.L is S&P 500. SGLN.L tracks LBMA Gold Price, while SPXP.L tracks S&P 500 Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.12% for SGLN.L and 0.05% for SPXP.L.
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