SGLP.L vs. IGLN.L
SGLP.L (Invesco Physical Gold A) and IGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - SGLP.L is a Precious Metals fund tracking the Gold, while IGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, SGLP.L returned 14.29%/yr vs 14.29%/yr for IGLN.L. Their correlation of 0.90 suggests significant overlap in exposure. SGLP.L charges 0.12%/yr vs 0.25%/yr for IGLN.L.
Performance
SGLP.L vs. IGLN.L - Performance Comparison
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Different Trading Currencies
SGLP.L is traded in GBp, while IGLN.L is traded in USD. To make them comparable, the IGLN.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with SGLP.L having a 3.24% return and IGLN.L slightly higher at 3.39%. Over a longer period, both investments have demonstrated similar performance, with their 10-year annualized returns being quite close: SGLP.L at 14.29% and IGLN.L at 14.29%.
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%
IGLN.L
- 1D
- -1.19%
- 1M
- -3.16%
- YTD
- 3.39%
- 6M
- 4.54%
- 1Y
- 33.37%
- 3Y*
- 27.87%
- 5Y*
- 19.72%
- 10Y*
- 14.29%
SGLP.L vs. IGLN.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% | 1.64% |
IGLN.L iShares Physical Gold ETC | 3.39% | 53.17% | 28.35% | 7.77% | 11.79% | -3.12% | 20.51% | 13.78% | 4.54% | 2.01% |
Correlation
The correlation between SGLP.L and IGLN.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2011 | 0.90 |
The correlation between SGLP.L and IGLN.L has been stable across timeframes, ranging from 0.90 to 0.97 - a consistent structural relationship.
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Return for Risk
SGLP.L vs. IGLN.L — Risk / Return Rank
SGLP.L
IGLN.L
SGLP.L vs. IGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold A (SGLP.L) and iShares Physical Gold ETC (IGLN.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 | IGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.27 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 1.89 | -0.05 |
| Martin ratioReturn relative to average drawdown | 5.03 | 5.11 | -0.08 |
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 | IGLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.43 | 1.38 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.22 | 1.17 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.91 | 0.87 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.52 | +0.01 |
Drawdowns
SGLP.L vs. IGLN.L - Drawdown Comparison
The maximum SGLP.L drawdown since its inception was -38.83%, smaller than the maximum IGLN.L drawdown of -41.86%. Use the drawdown chart below to compare losses from any high point for SGLP.L and IGLN.L.
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Drawdown Indicators
| SGLP.L | IGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.83% | -41.86% | +3.03% |
Max Drawdown (1Y)Largest decline over 1 year | -17.89% | -17.53% | -0.36% |
Max Drawdown (3Y)Largest decline over 3 years | -17.89% | -17.53% | -0.36% |
Max Drawdown (5Y)Largest decline over 5 years | -17.89% | -17.53% | -0.36% |
Max Drawdown (10Y)Largest decline over 10 years | -22.34% | -22.37% | +0.03% |
Current DrawdownCurrent decline from peak | -16.55% | -16.35% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -13.37% | -14.94% | +1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.58% | 6.51% | +0.07% |
Volatility
SGLP.L vs. IGLN.L - Volatility Comparison
The current volatility for Invesco Physical Gold A (SGLP.L) is 5.09%, while iShares Physical Gold ETC (IGLN.L) has a volatility of 6.05%. This indicates that SGLP.L experiences smaller price fluctuations and is considered to be less risky than IGLN.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 | IGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.09% | 6.05% | -0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 19.90% | 21.14% | -1.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.02% | 24.09% | -1.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.11% | 16.81% | -0.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.72% | 16.35% | -0.63% |
SGLP.L vs. IGLN.L - Expense Ratio Comparison
SGLP.L has a 0.12% expense ratio, which is lower than IGLN.L's 0.25% 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. IGLN.L - Dividend Comparison
Neither SGLP.L nor IGLN.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, SGLP.L and IGLN.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.
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 0.25% for IGLN.L.
SGLP.L is categorized as Precious Metals, while IGLN.L is Gold. SGLP.L tracks Gold, while IGLN.L tracks LBMA Gold Price. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.12% for SGLP.L and 0.25% for IGLN.L.
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