SGLP.L vs. ICOM.L
SGLP.L (Invesco Physical Gold A) and ICOM.L (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - SGLP.L is a Precious Metals fund tracking the Gold, while ICOM.L is a Commodities fund tracking the Bloomberg Commodity (Total Return Index). Both are passively managed. Over the past 5 years, SGLP.L returned 19.70%/yr vs 12.53%/yr for ICOM.L. At a 0.29 correlation, their price movements are largely independent. SGLP.L charges 0.12%/yr vs 0.19%/yr for ICOM.L.
Performance
SGLP.L vs. ICOM.L - Performance Comparison
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Different Trading Currencies
SGLP.L is traded in GBp, while ICOM.L is traded in USD. To make them comparable, the ICOM.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 3.24% return, which is significantly lower than ICOM.L's 26.79% return.
SGLP.L
- 1D
- -1.17%
- 1M
- -2.86%
- YTD
- 3.24%
- 6M
- 4.38%
- 1Y
- 33.15%
- 3Y*
- 27.94%
- 5Y*
- 19.70%
- 10Y*
- 14.29%
ICOM.L
- 1D
- 0.66%
- 1M
- -0.60%
- YTD
- 26.79%
- 6M
- 25.00%
- 1Y
- 40.41%
- 3Y*
- 13.55%
- 5Y*
- 12.53%
- 10Y*
- —
SGLP.L vs. ICOM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SGLP.L Invesco Physical Gold A | 3.24% | 53.60% | 28.14% | 7.26% | 11.83% | -2.88% | 19.99% | 14.65% | 4.31% | 0.29% |
ICOM.L iShares Diversified Commodity Swap UCITS ETF | 26.79% | 8.16% | 6.90% | -12.66% | 28.48% | 28.25% | -6.57% | 2.69% | -4.87% | 2.50% |
Correlation
The correlation between SGLP.L and ICOM.L is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Jul 27, 2017 | 0.29 |
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Return for Risk
SGLP.L vs. ICOM.L — Risk / Return Rank
SGLP.L
ICOM.L
SGLP.L vs. ICOM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold A (SGLP.L) and iShares Diversified Commodity Swap UCITS ETF (ICOM.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 | ICOM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.41 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 5.40 | -3.56 |
| Martin ratioReturn relative to average drawdown | 5.03 | 12.57 | -7.54 |
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
| SGLP.L | ICOM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.43 | 2.20 | -0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.22 | 0.75 | +0.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.91 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.53 | 0.00 |
Drawdowns
SGLP.L vs. ICOM.L - Drawdown Comparison
The maximum SGLP.L drawdown since its inception was -38.83%, which is greater than ICOM.L's maximum drawdown of -28.82%. Use the drawdown chart below to compare losses from any high point for SGLP.L and ICOM.L.
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Drawdown Indicators
| SGLP.L | ICOM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.83% | -28.82% | -10.01% |
Max Drawdown (1Y)Largest decline over 1 year | -17.89% | -7.45% | -10.44% |
Max Drawdown (3Y)Largest decline over 3 years | -17.89% | -14.48% | -3.41% |
Max Drawdown (5Y)Largest decline over 5 years | -17.89% | -28.82% | +10.93% |
Max Drawdown (10Y)Largest decline over 10 years | -22.34% | — | — |
Current DrawdownCurrent decline from peak | -16.55% | -3.56% | -12.99% |
Average DrawdownAverage peak-to-trough decline | -13.37% | -12.30% | -1.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.58% | 3.21% | +3.37% |
Volatility
SGLP.L vs. ICOM.L - Volatility Comparison
The current volatility for Invesco Physical Gold A (SGLP.L) is 5.09%, while iShares Diversified Commodity Swap UCITS ETF (ICOM.L) has a volatility of 5.54%. This indicates that SGLP.L experiences smaller price fluctuations and is considered to be less risky than ICOM.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 | ICOM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.09% | 5.54% | -0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 19.90% | 15.92% | +3.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.02% | 18.25% | +4.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.11% | 16.73% | -0.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.72% | 15.71% | +0.01% |
SGLP.L vs. ICOM.L - Expense Ratio Comparison
SGLP.L has a 0.12% expense ratio, which is lower than ICOM.L's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SGLP.L vs. ICOM.L - Dividend Comparison
Neither SGLP.L nor ICOM.L has paid dividends to shareholders.
Frequently Asked Questions
SGLP.L and ICOM.L have a correlation of 0.21, 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 0.19% for ICOM.L.
SGLP.L is categorized as Precious Metals, while ICOM.L is Commodities. SGLP.L tracks Gold, while ICOM.L tracks Bloomberg Commodity (Total Return Index). They also come from different issuers: Invesco and iShares. Their fees differ too: 0.12% for SGLP.L and 0.19% for ICOM.L.
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