SGLP.L vs. SGLN.L
SGLP.L (Invesco Physical Gold A) and SGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - SGLP.L is a Precious Metals fund tracking the Gold, while SGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, SGLP.L returned 14.26%/yr vs 14.27%/yr for SGLN.L. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 0.12% expense ratio.
Performance
SGLP.L vs. SGLN.L - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both stocks are quite close, with SGLP.L having a 3.97% return and SGLN.L slightly lower at 3.89%. Both investments have delivered pretty close results over the past 10 years, with SGLP.L having a 14.26% annualized return and SGLN.L not far ahead at 14.27%.
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%
SGLN.L
- 1D
- 0.70%
- 1M
- -1.36%
- YTD
- 3.89%
- 6M
- 5.42%
- 1Y
- 33.75%
- 3Y*
- 28.17%
- 5Y*
- 20.12%
- 10Y*
- 14.27%
SGLP.L vs. SGLN.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% |
SGLN.L iShares Physical Gold ETC | 3.89% | 53.66% | 28.20% | 7.24% | 11.84% | -2.57% | 19.62% | 14.63% | 4.36% | 1.68% |
Correlation
The correlation between SGLP.L and SGLN.L is 1.00 - 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 | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2011 | 0.94 |
The correlation between SGLP.L and SGLN.L has been stable across timeframes, ranging from 0.94 to 1.00 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SGLP.L vs. SGLN.L — Risk / Return Rank
SGLP.L
SGLN.L
SGLP.L vs. SGLN.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 (SGLN.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 | SGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.29 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 1.91 | -0.03 |
| Martin ratioReturn relative to average drawdown | 5.06 | 5.05 | +0.02 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SGLP.L | SGLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.46 | 1.45 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.23 | 1.23 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.91 | 0.90 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.55 | -0.02 |
Drawdowns
SGLP.L vs. SGLN.L - Drawdown Comparison
The maximum SGLP.L drawdown since its inception was -38.83%, smaller than the maximum SGLN.L drawdown of -41.71%. Use the drawdown chart below to compare losses from any high point for SGLP.L and SGLN.L.
Loading charts...
Drawdown Indicators
| SGLP.L | SGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.83% | -41.71% | +2.88% |
Max Drawdown (1Y)Largest decline over 1 year | -17.89% | -17.57% | -0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -17.89% | -17.57% | -0.32% |
Max Drawdown (5Y)Largest decline over 5 years | -17.89% | -17.57% | -0.32% |
Max Drawdown (10Y)Largest decline over 10 years | -22.34% | -21.91% | -0.43% |
Current DrawdownCurrent decline from peak | -15.97% | -16.01% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -13.37% | -14.76% | +1.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.65% | 6.67% | -0.02% |
Volatility
SGLP.L vs. SGLN.L - Volatility Comparison
Invesco Physical Gold A (SGLP.L) and iShares Physical Gold ETC (SGLN.L) have volatilities of 5.10% and 5.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SGLP.L | SGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.10% | 5.08% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 19.90% | 20.08% | -0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.02% | 23.19% | -0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.11% | 16.30% | -0.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.72% | 15.78% | -0.06% |
SGLP.L vs. SGLN.L - Expense Ratio Comparison
Both SGLP.L and SGLN.L have an expense ratio of 0.12%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SGLP.L vs. SGLN.L - Dividend Comparison
Neither SGLP.L nor SGLN.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 1.00, SGLP.L and SGLN.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.
Both ETFs have the same 0.12% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SGLP.L and SGLN.L have the same expense ratio: 0.12% per year.
SGLP.L is categorized as Precious Metals, while SGLN.L is Gold. SGLP.L tracks Gold, while SGLN.L tracks LBMA Gold Price. They also come from different issuers: Invesco and iShares.
Find the right allocation for SGLP.L and SGLN.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer