SGLP.L vs. IHYA.L
SGLP.L (Invesco Physical Gold A) and IHYA.L (iShares USD High Yield Corporate Bond UCITS ETF USD (Acc)) are both exchange-traded funds - SGLP.L is a Precious Metals fund tracking the Gold, while IHYA.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 19.87%/yr vs 5.11%/yr for IHYA.L. At a 0.14 correlation, their price movements are largely independent. SGLP.L charges 0.12%/yr vs 0.50%/yr for IHYA.L.
Performance
SGLP.L vs. IHYA.L - Performance Comparison
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Different Trading Currencies
SGLP.L is traded in GBp, while IHYA.L is traded in USD. To make them comparable, the IHYA.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 higher than IHYA.L's 1.51% 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%
IHYA.L
- 1D
- 0.09%
- 1M
- 1.11%
- YTD
- 1.51%
- 6M
- 1.04%
- 1Y
- 7.97%
- 3Y*
- 5.57%
- 5Y*
- 5.11%
- 10Y*
- —
SGLP.L vs. IHYA.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% | -6.66% |
IHYA.L iShares USD High Yield Corporate Bond UCITS ETF USD (Acc) | 1.51% | 1.69% | 8.85% | 5.11% | 1.97% | 4.70% | 1.98% | 8.34% | 4.55% | -4.76% |
Correlation
The correlation between SGLP.L and IHYA.L is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2017 | 0.14 |
The correlation between SGLP.L and IHYA.L shifts across timeframes, from -0.02 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SGLP.L vs. IHYA.L — Risk / Return Rank
SGLP.L
IHYA.L
SGLP.L vs. IHYA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold A (SGLP.L) and iShares USD High Yield Corporate Bond UCITS ETF USD (Acc) (IHYA.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 | IHYA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.22 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 2.10 | -0.22 |
| Martin ratioReturn relative to average drawdown | 5.06 | 6.56 | -1.49 |
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 | IHYA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | 1.21 | +0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.23 | 0.59 | +0.64 |
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 | 0.37 | +0.16 |
Drawdowns
SGLP.L vs. IHYA.L - Drawdown Comparison
The maximum SGLP.L drawdown since its inception was -38.83%, which is greater than IHYA.L's maximum drawdown of -16.09%. Use the drawdown chart below to compare losses from any high point for SGLP.L and IHYA.L.
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Drawdown Indicators
| SGLP.L | IHYA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.83% | -16.09% | -22.74% |
Max Drawdown (1Y)Largest decline over 1 year | -17.89% | -3.79% | -14.10% |
Max Drawdown (3Y)Largest decline over 3 years | -17.89% | -8.92% | -8.97% |
Max Drawdown (5Y)Largest decline over 5 years | -17.89% | -10.81% | -7.08% |
Max Drawdown (10Y)Largest decline over 10 years | -22.34% | — | — |
Current DrawdownCurrent decline from peak | -15.97% | -0.60% | -15.37% |
Average DrawdownAverage peak-to-trough decline | -13.37% | -3.74% | -9.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.65% | 1.21% | +5.44% |
Volatility
SGLP.L vs. IHYA.L - Volatility Comparison
Invesco Physical Gold A (SGLP.L) has a higher volatility of 5.10% compared to iShares USD High Yield Corporate Bond UCITS ETF USD (Acc) (IHYA.L) at 2.04%. This indicates that SGLP.L's price experiences larger fluctuations and is considered to be riskier than IHYA.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 | IHYA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.10% | 2.04% | +3.06% |
Volatility (6M)Calculated over the trailing 6-month period | 19.90% | 5.15% | +14.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.02% | 6.58% | +16.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.11% | 8.67% | +7.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.72% | 9.78% | +5.94% |
SGLP.L vs. IHYA.L - Expense Ratio Comparison
SGLP.L has a 0.12% expense ratio, which is lower than IHYA.L's 0.50% expense ratio.
Dividends
SGLP.L vs. IHYA.L - Dividend Comparison
Neither SGLP.L nor IHYA.L has paid dividends to shareholders.
Frequently Asked Questions
SGLP.L and IHYA.L have a correlation of -0.02, 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 0.50% for IHYA.L.
SGLP.L is categorized as Precious Metals, while IHYA.L is High Yield Bonds. SGLP.L tracks Gold, while IHYA.L tracks Bloomberg US Corporate High Yield TR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.12% for SGLP.L and 0.50% for IHYA.L.
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