SGLP.L vs. WSML.L
SGLP.L (Invesco Physical Gold A) and WSML.L (iShares MSCI World Small Cap UCITS ETF USD (Acc)) are both exchange-traded funds - SGLP.L is a Precious Metals fund tracking the Gold, while WSML.L is a Global Equities fund tracking the MSCI World Small Cap Index. Both are passively managed. Over the past 5 years, SGLP.L returned 18.64%/yr vs 8.11%/yr for WSML.L. At a 0.02 correlation, their price movements are largely independent. SGLP.L charges 0.12%/yr vs 0.35%/yr for WSML.L.
Performance
SGLP.L vs. WSML.L - Performance Comparison
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Different Trading Currencies
SGLP.L is traded in GBp, while WSML.L is traded in USD. To make them comparable, the WSML.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 WSML.L's 15.57% 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%
WSML.L
- 1D
- 2.95%
- 1M
- 2.43%
- YTD
- 15.57%
- 6M
- 14.69%
- 1Y
- 33.80%
- 3Y*
- 14.46%
- 5Y*
- 8.11%
- 10Y*
- —
SGLP.L vs. WSML.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SGLP.L Invesco Physical Gold A | -1.79% | 53.60% | 28.14% | 7.26% | 11.83% | -2.88% | 19.99% | 14.65% | 5.26% |
WSML.L iShares MSCI World Small Cap UCITS ETF USD (Acc) | 15.57% | 11.40% | 9.25% | 11.26% | -8.94% | 16.32% | 13.07% | 19.62% | -2.19% |
Correlation
The correlation between SGLP.L and WSML.L is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2018 | 0.02 |
Over the past year, SGLP.L and WSML.L have become more correlated (0.23) than their long-term average of 0.02, meaning their price movements have been converging.
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Return for Risk
SGLP.L vs. WSML.L — Risk / Return Rank
SGLP.L
WSML.L
SGLP.L vs. WSML.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold A (SGLP.L) and iShares MSCI World Small Cap UCITS ETF USD (Acc) (WSML.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 | WSML.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.25 | ||
| Sortino ratioReturn per unit of downside risk | -1.82 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.42 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 4.23 | -3.10 |
| Martin ratioReturn relative to average drawdown | 3.52 | 15.75 | -12.22 |
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Drawdowns
SGLP.L vs. WSML.L - Drawdown Comparison
The maximum SGLP.L drawdown since its inception was -63.75%, which is greater than WSML.L's maximum drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for SGLP.L and WSML.L.
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Drawdown Indicators
| SGLP.L | WSML.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.75% | -33.63% | -30.12% |
Max Drawdown (1Y)Largest decline over 1 year | -22.82% | -7.90% | -14.92% |
Max Drawdown (3Y)Largest decline over 3 years | -22.82% | -21.49% | -1.33% |
Max Drawdown (5Y)Largest decline over 5 years | -22.82% | -21.49% | -1.33% |
Max Drawdown (10Y)Largest decline over 10 years | -22.82% | — | — |
Current DrawdownCurrent decline from peak | -20.62% | 0.00% | -20.62% |
Average DrawdownAverage peak-to-trough decline | -31.72% | -6.41% | -25.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.35% | 2.13% | +5.22% |
Volatility
SGLP.L vs. WSML.L - Volatility Comparison
Invesco Physical Gold A (SGLP.L) has a higher volatility of 6.68% compared to iShares MSCI World Small Cap UCITS ETF USD (Acc) (WSML.L) at 4.72%. This indicates that SGLP.L's price experiences larger fluctuations and is considered to be riskier than WSML.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 | WSML.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.68% | 4.72% | +1.96% |
Volatility (6M)Calculated over the trailing 6-month period | 20.61% | 11.21% | +9.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.66% | 14.31% | +9.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.71% | 16.91% | +4.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.76% | 18.18% | +0.58% |
SGLP.L vs. WSML.L - Expense Ratio Comparison
SGLP.L has a 0.12% expense ratio, which is lower than WSML.L's 0.35% expense ratio.
Dividends
SGLP.L vs. WSML.L - Dividend Comparison
Neither SGLP.L nor WSML.L has paid dividends to shareholders.
Frequently Asked Questions
SGLP.L and WSML.L have a correlation of 0.23, 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 0.35% for WSML.L.
SGLP.L is categorized as Precious Metals, while WSML.L is Global Equities. SGLP.L tracks Gold, while WSML.L tracks MSCI World Small Cap Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.12% for SGLP.L and 0.35% for WSML.L.
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