SGLP.L vs. VUAA.L
SGLP.L (Invesco Physical Gold A) and VUAA.L (Vanguard S&P 500 UCITS ETF USD Accumulation) are both exchange-traded funds - SGLP.L is a Precious Metals fund tracking the Gold, while VUAA.L is a S&P 500 fund tracking the S&P 500 Net Total Return. Both are passively managed. Over the past 5 years, SGLP.L returned 18.64%/yr vs 14.40%/yr for VUAA.L. At a 0.00 correlation, their price movements are largely independent. SGLP.L charges 0.12%/yr vs 0.07%/yr for VUAA.L.
Performance
SGLP.L vs. VUAA.L - Performance Comparison
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Different Trading Currencies
SGLP.L is traded in GBp, while VUAA.L is traded in USD. To make them comparable, the VUAA.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 -1.79% return, which is significantly lower than VUAA.L's 8.97% 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%
VUAA.L
- 1D
- 2.11%
- 1M
- -0.85%
- YTD
- 8.97%
- 6M
- 9.42%
- 1Y
- 26.48%
- 3Y*
- 18.31%
- 5Y*
- 14.40%
- 10Y*
- —
SGLP.L vs. VUAA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SGLP.L Invesco Physical Gold A | -1.79% | 53.60% | 28.14% | 7.26% | 11.83% | -2.88% | 19.99% | 14.92% |
VUAA.L Vanguard S&P 500 UCITS ETF USD Accumulation | 8.97% | 9.01% | 27.46% | 20.35% | -8.96% | 30.57% | 16.79% | 11.76% |
Correlation
The correlation between SGLP.L and VUAA.L is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since May 14, 2019 | 0.00 |
The correlation between SGLP.L and VUAA.L shifts across timeframes, from -0.01 (5 years) to 0.15 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SGLP.L vs. VUAA.L — Risk / Return Rank
SGLP.L
VUAA.L
SGLP.L vs. VUAA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold A (SGLP.L) and Vanguard S&P 500 UCITS ETF USD Accumulation (VUAA.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.
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 | VUAA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.06 | ||
| Sortino ratioReturn per unit of downside risk | -1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.40 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 3.66 | -2.52 |
| Martin ratioReturn relative to average drawdown | 3.52 | 12.17 | -8.64 |
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Drawdowns
SGLP.L vs. VUAA.L - Drawdown Comparison
The maximum SGLP.L drawdown since its inception was -63.75%, which is greater than VUAA.L's maximum drawdown of -26.15%. Use the drawdown chart below to compare losses from any high point for SGLP.L and VUAA.L.
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Drawdown Indicators
| SGLP.L | VUAA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.75% | -26.15% | -37.60% |
Max Drawdown (1Y)Largest decline over 1 year | -22.82% | -7.23% | -15.59% |
Max Drawdown (3Y)Largest decline over 3 years | -22.82% | -21.12% | -1.70% |
Max Drawdown (5Y)Largest decline over 5 years | -22.82% | -21.12% | -1.70% |
Max Drawdown (10Y)Largest decline over 10 years | -22.82% | — | — |
Current DrawdownCurrent decline from peak | -20.62% | -1.81% | -18.81% |
Average DrawdownAverage peak-to-trough decline | -31.72% | -3.60% | -28.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.35% | 2.18% | +5.17% |
Volatility
SGLP.L vs. VUAA.L - Volatility Comparison
Invesco Physical Gold A (SGLP.L) has a higher volatility of 6.68% compared to Vanguard S&P 500 UCITS ETF USD Accumulation (VUAA.L) at 4.38%. This indicates that SGLP.L's price experiences larger fluctuations and is considered to be riskier than VUAA.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 | VUAA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.68% | 4.38% | +2.30% |
Volatility (6M)Calculated over the trailing 6-month period | 20.61% | 9.08% | +11.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.66% | 12.29% | +11.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.71% | 15.46% | +6.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.76% | 17.15% | +1.61% |
SGLP.L vs. VUAA.L - Expense Ratio Comparison
SGLP.L has a 0.12% expense ratio, which is higher than VUAA.L's 0.07% expense ratio. However, 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. VUAA.L - Dividend Comparison
Neither SGLP.L nor VUAA.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
SGLP.L Invesco Physical Gold A | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VUAA.L Vanguard S&P 500 UCITS ETF USD Accumulation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.63% |
Frequently Asked Questions
SGLP.L and VUAA.L have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VUAA.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUAA.L is cheaper with a 0.07% expense ratio, compared with 0.12% for SGLP.L.
SGLP.L is categorized as Precious Metals, while VUAA.L is S&P 500. SGLP.L tracks Gold, while VUAA.L tracks S&P 500 Net Total Return. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.12% for SGLP.L and 0.07% for VUAA.L.
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