SGLP.L vs. X7PP.L
SGLP.L (Invesco Physical Gold A) and X7PP.L (Invesco European Banks Sector UCITS ETF) are both exchange-traded funds - SGLP.L is a Gold fund tracking the Gold, while X7PP.L is a Financials Equities fund tracking the MSCI World/Financials NR USD. Both are passively managed. Over the past 10 years, SGLP.L returned 11.36%/yr vs 16.48%/yr for X7PP.L. At a correlation of -0.11, they often move in opposite directions. SGLP.L charges 0.12%/yr vs 0.20%/yr for X7PP.L.
Performance
SGLP.L vs. X7PP.L - Performance Comparison
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Returns By Period
In the year-to-date period, SGLP.L achieves a -6.33% return, which is significantly lower than X7PP.L's 14.33% return. Over the past 10 years, SGLP.L has underperformed X7PP.L with an annualized return of 11.36%, while X7PP.L has yielded a comparatively higher 16.48% annualized return.
SGLP.L
- 1D
- -1.60%
- 1M
- -7.47%
- 6M
- -12.71%
- YTD
- -6.33%
- 1Y
- 20.56%
- 3Y*
- 26.02%
- 5Y*
- 17.81%
- 10Y*
- 11.36%
X7PP.L
- 1D
- -0.74%
- 1M
- 4.36%
- 6M
- 11.75%
- YTD
- 14.33%
- 1Y
- 49.80%
- 3Y*
- 44.37%
- 5Y*
- 31.78%
- 10Y*
- 16.48%
SGLP.L vs. X7PP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SGLP.L Invesco Physical Gold A | -6.33% | 53.60% | 28.14% | 7.26% | 11.83% | -2.88% | 19.99% | 14.65% | 4.31% | 1.64% |
X7PP.L Invesco European Banks Sector UCITS ETF | 14.33% | 87.77% | 27.07% | 23.27% | 6.04% | 29.16% | -18.50% | 8.33% | -26.15% | 16.53% |
Correlation
The correlation between SGLP.L and X7PP.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 | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2014 | -0.11 |
The correlation between SGLP.L and X7PP.L shifts across timeframes, from -0.11 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SGLP.L vs. X7PP.L — Risk / Return Rank
SGLP.L
X7PP.L
SGLP.L vs. X7PP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold A (SGLP.L) and Invesco European Banks Sector UCITS ETF (X7PP.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 | X7PP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | -1.78 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.38 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 3.11 | -2.27 |
| Martin ratioReturn relative to average drawdown | 2.08 | 10.37 | -8.29 |
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Drawdowns
SGLP.L vs. X7PP.L - Drawdown Comparison
The maximum SGLP.L drawdown since its inception was -63.75%, which is greater than X7PP.L's maximum drawdown of -56.28%. Use the drawdown chart below to compare losses from any high point for SGLP.L and X7PP.L.
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Drawdown Indicators
| SGLP.L | X7PP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.75% | -56.28% | -7.47% |
Max Drawdown (1Y)Largest decline over 1 year | -24.29% | -15.94% | -8.35% |
Max Drawdown (3Y)Largest decline over 3 years | -24.29% | -18.17% | -6.12% |
Max Drawdown (5Y)Largest decline over 5 years | -24.29% | -30.79% | +6.50% |
Max Drawdown (10Y)Largest decline over 10 years | -24.29% | -56.28% | +31.99% |
Current DrawdownCurrent decline from peak | -24.29% | -1.85% | -22.44% |
Average DrawdownAverage peak-to-trough decline | -31.67% | -15.28% | -16.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.84% | 4.79% | +5.05% |
Volatility
SGLP.L vs. X7PP.L - Volatility Comparison
Invesco Physical Gold A (SGLP.L) has a higher volatility of 6.71% compared to Invesco European Banks Sector UCITS ETF (X7PP.L) at 5.70%. This indicates that SGLP.L's price experiences larger fluctuations and is considered to be riskier than X7PP.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 | X7PP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.71% | 5.70% | +1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 21.07% | 18.70% | +2.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.32% | 22.02% | +2.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.89% | 23.50% | -1.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.29% | 24.23% | -5.94% |
SGLP.L vs. X7PP.L - Expense Ratio Comparison
SGLP.L has a 0.12% expense ratio, which is lower than X7PP.L's 0.20% 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. X7PP.L - Dividend Comparison
Neither SGLP.L nor X7PP.L has paid dividends to shareholders.
Frequently Asked Questions
SGLP.L and X7PP.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 0.20% for X7PP.L.
SGLP.L is categorized as Gold, while X7PP.L is Financials Equities. SGLP.L tracks Gold, while X7PP.L tracks MSCI World/Financials NR USD. Their fees differ too: 0.12% for SGLP.L and 0.20% for X7PP.L.
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