SGLP.L vs. FAHY.L
SGLP.L (Invesco Physical Gold A) and FAHY.L (Invesco US High Yield Fallen Angels UCITS ETF Dist) are both exchange-traded funds - SGLP.L is a Gold fund tracking the Gold, while FAHY.L is a High Yield Bonds fund tracking the Bloomberg US Corporate High Yield TR USD. Both are passively managed. Over the past 5 years, SGLP.L returned 18.76%/yr vs 3.70%/yr for FAHY.L. At a 0.22 correlation, their price movements are largely independent. SGLP.L charges 0.12%/yr vs 0.45%/yr for FAHY.L.
Performance
SGLP.L vs. FAHY.L - Performance Comparison
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Returns By Period
In the year-to-date period, SGLP.L achieves a -4.91% return, which is significantly lower than FAHY.L's 3.72% return.
SGLP.L
- 1D
- -2.76%
- 1M
- -9.48%
- YTD
- -4.91%
- 6M
- -8.44%
- 1Y
- 25.12%
- 3Y*
- 26.12%
- 5Y*
- 18.76%
- 10Y*
- 11.96%
FAHY.L
- 1D
- 0.54%
- 1M
- 3.56%
- YTD
- 3.72%
- 6M
- 4.33%
- 1Y
- 10.28%
- 3Y*
- 6.88%
- 5Y*
- 3.70%
- 10Y*
- —
SGLP.L vs. FAHY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SGLP.L Invesco Physical Gold A | -4.91% | 53.60% | 28.14% | 7.26% | 11.83% | -2.88% | 19.99% | 14.65% | 4.31% | 1.64% |
FAHY.L Invesco US High Yield Fallen Angels UCITS ETF Dist | 3.72% | 2.09% | 6.93% | 4.14% | -3.51% | 6.81% | 5.36% | 9.22% | 0.08% | -0.79% |
Correlation
The correlation between SGLP.L and FAHY.L is -0.04, 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 | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Sep 1, 2016 | 0.22 |
The correlation between SGLP.L and FAHY.L shifts across timeframes, from -0.04 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SGLP.L vs. FAHY.L — Risk / Return Rank
SGLP.L
FAHY.L
SGLP.L vs. FAHY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold A (SGLP.L) and Invesco US High Yield Fallen Angels UCITS ETF Dist (FAHY.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.
| SGLP.L | FAHY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.30 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 2.57 | -1.49 |
| Martin ratioReturn relative to average drawdown | 3.08 | 6.71 | -3.63 |
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Drawdowns
SGLP.L vs. FAHY.L - Drawdown Comparison
The maximum SGLP.L drawdown since its inception was -63.75%, which is greater than FAHY.L's maximum drawdown of -25.87%. Use the drawdown chart below to compare losses from any high point for SGLP.L and FAHY.L.
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Drawdown Indicators
| SGLP.L | FAHY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.75% | -25.87% | -37.88% |
Max Drawdown (1Y)Largest decline over 1 year | -23.15% | -3.99% | -19.16% |
Max Drawdown (3Y)Largest decline over 3 years | -23.15% | -9.89% | -13.26% |
Max Drawdown (5Y)Largest decline over 5 years | -23.15% | -11.66% | -11.49% |
Max Drawdown (10Y)Largest decline over 10 years | -23.15% | — | — |
Current DrawdownCurrent decline from peak | -23.15% | 0.00% | -23.15% |
Average DrawdownAverage peak-to-trough decline | -31.70% | -8.00% | -23.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.12% | 1.53% | +6.59% |
Volatility
SGLP.L vs. FAHY.L - Volatility Comparison
Invesco Physical Gold A (SGLP.L) has a higher volatility of 8.15% compared to Invesco US High Yield Fallen Angels UCITS ETF Dist (FAHY.L) at 1.96%. This indicates that SGLP.L's price experiences larger fluctuations and is considered to be riskier than FAHY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SGLP.L | FAHY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.15% | 1.96% | +6.19% |
Volatility (6M)Calculated over the trailing 6-month period | 21.14% | 4.47% | +16.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.14% | 6.00% | +18.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.77% | 8.29% | +13.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.34% | 12.65% | +5.69% |
SGLP.L vs. FAHY.L - Expense Ratio Comparison
SGLP.L has a 0.12% expense ratio, which is lower than FAHY.L's 0.45% expense ratio.
Dividends
SGLP.L vs. FAHY.L - Dividend Comparison
SGLP.L has not paid dividends to shareholders, while FAHY.L's dividend yield for the trailing twelve months is around 6.45%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FAHY.L Invesco US High Yield Fallen Angels UCITS ETF Dist | 6.45% | 6.61% | 6.89% | 6.85% | 5.66% | 4.54% | 6.26% | 6.22% | 6.01% | 5.63% | 1.23% |
SGLP.L Invesco Physical Gold A | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SGLP.L and FAHY.L have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
SGLP.L is cheaper with a 0.12% expense ratio, compared with 0.45% for FAHY.L.
SGLP.L is categorized as Gold, while FAHY.L is High Yield Bonds. SGLP.L tracks Gold, while FAHY.L tracks Bloomberg US Corporate High Yield TR USD. Their fees differ too: 0.12% for SGLP.L and 0.45% for FAHY.L.
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