SGLP.L vs. AIGP.L

Last updated Jun 5, 2026

SGLP.L (Invesco Physical Gold A) and AIGP.L (WisdomTree Precious Metals) are both Precious Metals funds - SGLP.L tracks the Gold while AIGP.L tracks the Bloomberg Precious Metals. Both are passively managed. Over the past 10 years, SGLP.L returned 14.26%/yr vs 12.93%/yr for AIGP.L. A 0.77 correlation means they provide meaningful diversification when combined. SGLP.L charges 0.12%/yr vs 0.49%/yr for AIGP.L.

Performance

SGLP.L vs. AIGP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco Physical Gold A (SGLP.L) and WisdomTree Precious Metals (AIGP.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

SGLP.L is traded in GBp, while AIGP.L is traded in USD. To make them comparable, the AIGP.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, SGLP.L achieves a 3.97% return, which is significantly lower than AIGP.L's 4.29% return. Over the past 10 years, SGLP.L has outperformed AIGP.L with an annualized return of 14.26%, while AIGP.L has yielded a comparatively lower 12.93% annualized return.

SGLP.L

• 1D: 0.70%
• 1M: -1.36%
• YTD: 3.97%
• 6M: 5.45%
• 1Y: 33.77%
• 3Y*: 28.15%
• 5Y*: 19.87%
• 10Y*: 14.26%

AIGP.L

• 1D: -1.41%
• 1M: -2.87%
• YTD: 4.29%
• 6M: 10.33%
• 1Y: 50.10%
• 3Y*: 29.84%
• 5Y*: 18.86%
• 10Y*: 12.93%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SGLP.L vs. AIGP.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SGLP.L Invesco Physical Gold A	3.97%	53.60%	28.14%	7.26%	11.83%	-2.88%	19.99%	14.65%	4.31%	1.64%
AIGP.L WisdomTree Precious Metals	4.29%	65.90%	25.41%	2.42%	10.92%	-6.87%	20.42%	11.65%	0.94%	-1.68%

Correlation

The correlation between SGLP.L and AIGP.L is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Dec 19, 2011	0.77

The correlation between SGLP.L and AIGP.L shifts across timeframes, from 0.77 (all time) to 0.92 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SGLP.L vs. AIGP.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SGLP.L

SGLP.L Risk / Return Rank: 40
SGLP.L Sharpe Ratio Rank: 42
SGLP.L Sortino Ratio Rank: 37
SGLP.L Omega Ratio Rank: 47
SGLP.L Calmar Ratio Rank: 39
SGLP.L Martin Ratio Rank: 34

AIGP.L

AIGP.L Risk / Return Rank: 41
AIGP.L Sharpe Ratio Rank: 46
AIGP.L Sortino Ratio Rank: 39
AIGP.L Omega Ratio Rank: 46
AIGP.L Calmar Ratio Rank: 43
AIGP.L Martin Ratio Rank: 34

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SGLP.L vs. AIGP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold A (SGLP.L) and WisdomTree Precious Metals (AIGP.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.

	SGLP.L	AIGP.L	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.68	-0.22
Sortino ratio: Return per unit of downside risk	1.90	2.10	-0.21
Omega ratio: Gain probability vs. loss probability	1.29	1.32	-0.03
Calmar ratio: Return relative to maximum drawdown	1.88	2.37	-0.49
Martin ratio: Return relative to average drawdown	5.06	6.18	-1.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SGLP.L vs. AIGP.L - Sharpe Ratio Comparison

The current SGLP.L Sharpe Ratio is 1.46, which is comparable to the AIGP.L Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of SGLP.L and AIGP.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SGLP.L	AIGP.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	1.68	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.23	1.07	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.91	0.76	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.56	-0.03

Drawdowns

SGLP.L vs. AIGP.L - Drawdown Comparison

The maximum SGLP.L drawdown since its inception was -38.83%, smaller than the maximum AIGP.L drawdown of -51.55%. Use the drawdown chart below to compare losses from any high point for SGLP.L and AIGP.L.

Drawdown Indicators

	SGLP.L	AIGP.L	Difference
Max Drawdown Largest peak-to-trough decline	-38.83%	-51.55%	+12.72%
Max Drawdown (1Y) Largest decline over 1 year	-17.89%	-21.00%	+3.11%
Max Drawdown (3Y) Largest decline over 3 years	-17.89%	-21.00%	+3.11%
Max Drawdown (5Y) Largest decline over 5 years	-17.89%	-21.00%	+3.11%
Max Drawdown (10Y) Largest decline over 10 years	-22.34%	-23.05%	+0.71%
Current Drawdown Current decline from peak	-15.97%	-18.80%	+2.83%
Average Drawdown Average peak-to-trough decline	-13.37%	-19.70%	+6.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.65%	8.09%	-1.44%

Volatility

SGLP.L vs. AIGP.L - Volatility Comparison

The current volatility for Invesco Physical Gold A (SGLP.L) is 5.10%, while WisdomTree Precious Metals (AIGP.L) has a volatility of 7.92%. This indicates that SGLP.L experiences smaller price fluctuations and is considered to be less risky than AIGP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGLP.L	AIGP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.10%	7.92%	-2.82%
Volatility (6M) Calculated over the trailing 6-month period	19.90%	26.92%	-7.02%
Volatility (1Y) Calculated over the trailing 1-year period	23.02%	29.68%	-6.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.11%	21.10%	-4.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.72%	20.21%	-4.49%

SGLP.L vs. AIGP.L - Expense Ratio Comparison

SGLP.L has a 0.12% expense ratio, which is lower than AIGP.L's 0.49% expense ratio.

Dividends

SGLP.L vs. AIGP.L - Dividend Comparison

Neither SGLP.L nor AIGP.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SGLP.L and AIGP.L in my portfolio?

With a correlation of 0.92, SGLP.L and AIGP.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, SGLP.L or AIGP.L?

On fees, SGLP.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SGLP.L or AIGP.L?

SGLP.L is cheaper with a 0.12% expense ratio, compared with 0.49% for AIGP.L.

What is the main difference between SGLP.L and AIGP.L?

SGLP.L tracks Gold, while AIGP.L tracks Bloomberg Precious Metals. They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.12% for SGLP.L and 0.49% for AIGP.L.