SGLP.L vs. SXRS.DE
SGLP.L (Invesco Physical Gold A) and SXRS.DE (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - SGLP.L is a Gold fund tracking the Gold, while SXRS.DE is a Commodities fund tracking the Bloomberg Commodity. Both are passively managed. Over the past 5 years, SGLP.L returned 18.64%/yr vs 11.02%/yr for SXRS.DE. At a 0.31 correlation, their price movements are largely independent. SGLP.L charges 0.12%/yr vs 0.19%/yr for SXRS.DE.
Performance
SGLP.L vs. SXRS.DE - Performance Comparison
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Different Trading Currencies
SGLP.L is traded in GBp, while SXRS.DE is traded in EUR. To make them comparable, the SXRS.DE 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 -1.79% return, which is significantly lower than SXRS.DE's 17.60% return.
SGLP.L
- 1D
- 2.85%
- 1M
- -9.58%
- YTD
- -1.79%
- 6M
- -1.95%
- 1Y
- 24.73%
- 3Y*
- 26.66%
- 5Y*
- 18.64%
- 10Y*
- 13.00%
SXRS.DE
- 1D
- -1.57%
- 1M
- -8.14%
- YTD
- 17.60%
- 6M
- 20.30%
- 1Y
- 29.68%
- 3Y*
- 11.19%
- 5Y*
- 11.02%
- 10Y*
- —
SGLP.L vs. SXRS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SGLP.L Invesco Physical Gold A | -1.79% | 53.60% | 28.14% | 7.26% | 11.83% | -2.88% | 19.99% | 14.65% | 4.31% | 1.39% |
SXRS.DE iShares Diversified Commodity Swap UCITS ETF | 17.60% | 10.12% | 6.21% | -12.28% | 27.22% | 30.12% | -8.49% | 4.16% | -20.44% | 6.10% |
Correlation
The correlation between SGLP.L and SXRS.DE is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2017 | 0.31 |
The correlation between SGLP.L and SXRS.DE shifts across timeframes, from 0.18 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SGLP.L vs. SXRS.DE — Risk / Return Rank
SGLP.L
SXRS.DE
SGLP.L vs. SXRS.DE - 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 (SXRS.DE). 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 | SXRS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.31 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 3.49 | -2.36 |
| Martin ratioReturn relative to average drawdown | 3.52 | 9.00 | -5.48 |
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Drawdowns
SGLP.L vs. SXRS.DE - Drawdown Comparison
The maximum SGLP.L drawdown since its inception was -63.75%, which is greater than SXRS.DE's maximum drawdown of -37.70%. Use the drawdown chart below to compare losses from any high point for SGLP.L and SXRS.DE.
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Drawdown Indicators
| SGLP.L | SXRS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.75% | -37.70% | -26.05% |
Max Drawdown (1Y)Largest decline over 1 year | -22.82% | -9.08% | -13.74% |
Max Drawdown (3Y)Largest decline over 3 years | -22.82% | -14.78% | -8.04% |
Max Drawdown (5Y)Largest decline over 5 years | -22.82% | -28.61% | +5.79% |
Max Drawdown (10Y)Largest decline over 10 years | -22.82% | — | — |
Current DrawdownCurrent decline from peak | -20.62% | -9.08% | -11.54% |
Average DrawdownAverage peak-to-trough decline | -31.72% | -16.29% | -15.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.35% | 3.53% | +3.82% |
Volatility
SGLP.L vs. SXRS.DE - Volatility Comparison
Invesco Physical Gold A (SGLP.L) has a higher volatility of 6.68% compared to iShares Diversified Commodity Swap UCITS ETF (SXRS.DE) at 4.94%. This indicates that SGLP.L's price experiences larger fluctuations and is considered to be riskier than SXRS.DE 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 | SXRS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.68% | 4.94% | +1.74% |
Volatility (6M)Calculated over the trailing 6-month period | 20.61% | 16.93% | +3.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.66% | 19.20% | +4.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.71% | 16.93% | +4.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.76% | 16.70% | +2.06% |
SGLP.L vs. SXRS.DE - Expense Ratio Comparison
SGLP.L has a 0.12% expense ratio, which is lower than SXRS.DE'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. SXRS.DE - Dividend Comparison
Neither SGLP.L nor SXRS.DE has paid dividends to shareholders.
Frequently Asked Questions
SGLP.L and SXRS.DE have a correlation of 0.18, 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 SXRS.DE.
SGLP.L is categorized as Gold, while SXRS.DE is Commodities. SGLP.L tracks Gold, while SXRS.DE tracks Bloomberg Commodity. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.12% for SGLP.L and 0.19% for SXRS.DE.
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