SGLS.L vs. SMH
Compare and contrast key facts about Invesco Physical Gold GBP Hedged ETC (SGLS.L) and VanEck Semiconductor ETF (SMH).
SGLS.L and SMH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SGLS.L is a passively managed fund by Invesco that tracks the performance of the Gold (GBP Hedged). It was launched on Jul 9, 2020. SMH is a passively managed fund by VanEck that tracks the performance of the MVIS US Listed Semiconductor 25 Index. It was launched on Dec 20, 2011. Both SGLS.L and SMH are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SGLS.L vs. SMH - Performance Comparison
Loading graphics...
SGLS.L vs. SMH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SGLS.L Invesco Physical Gold GBP Hedged ETC | 10.32% | 64.22% | 24.42% | 11.48% | -1.42% | -4.63% | -3.17% |
SMH VanEck Semiconductor ETF | 10.64% | 38.54% | 41.53% | 64.71% | -25.63% | 43.48% | 28.84% |
Different Trading Currencies
SGLS.L is traded in GBp, while SMH is traded in USD. To make them comparable, the SMH values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, SGLS.L achieves a 10.32% return, which is significantly higher than SMH's 8.48% return.
SGLS.L
- 1D
- 3.51%
- 1M
- -9.97%
- YTD
- 10.32%
- 6M
- 22.83%
- 1Y
- 50.63%
- 3Y*
- 32.51%
- 5Y*
- 21.44%
- 10Y*
- —
SMH
- 1D
- 0.00%
- 1M
- -4.36%
- YTD
- 8.48%
- 6M
- 17.49%
- 1Y
- 76.88%
- 3Y*
- 40.18%
- 5Y*
- 26.72%
- 10Y*
- 32.25%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
SGLS.L vs. SMH - Expense Ratio Comparison
SGLS.L has a 0.34% expense ratio, which is lower than SMH's 0.35% expense ratio.
Return for Risk
SGLS.L vs. SMH — Risk / Return Rank
SGLS.L
SMH
SGLS.L vs. SMH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold GBP Hedged ETC (SGLS.L) and VanEck Semiconductor ETF (SMH). 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.
| SGLS.L | SMH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.94 | 2.10 | -0.16 |
Sortino ratioReturn per unit of downside risk | 2.41 | 2.72 | -0.31 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.38 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 2.83 | 5.24 | -2.41 |
Martin ratioReturn relative to average drawdown | 11.03 | 17.89 | -6.86 |
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 graphics...
Sharpe Ratios by Period
| SGLS.L | SMH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.94 | 2.10 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.34 | 0.81 | +0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.02 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.03 | 0.75 | +0.28 |
Correlation
The correlation between SGLS.L and SMH is -0.04. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
SGLS.L vs. SMH - Dividend Comparison
SGLS.L has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.28%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SGLS.L Invesco Physical Gold GBP Hedged ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMH VanEck Semiconductor ETF | 0.28% | 0.31% | 0.44% | 0.60% | 1.18% | 0.51% | 0.69% | 1.50% | 1.88% | 1.43% | 0.80% | 2.14% |
Drawdowns
SGLS.L vs. SMH - Drawdown Comparison
The maximum SGLS.L drawdown since its inception was -21.94%, smaller than the maximum SMH drawdown of -47.21%. Use the drawdown chart below to compare losses from any high point for SGLS.L and SMH.
Loading graphics...
Drawdown Indicators
| SGLS.L | SMH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.94% | -84.96% | +63.02% |
Max Drawdown (1Y)Largest decline over 1 year | -17.93% | -15.95% | -1.98% |
Max Drawdown (5Y)Largest decline over 5 years | -21.94% | -45.30% | +23.36% |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.30% | — |
Current DrawdownCurrent decline from peak | -10.03% | -8.02% | -2.01% |
Average DrawdownAverage peak-to-trough decline | -6.78% | -41.35% | +34.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.60% | 4.47% | +0.13% |
Volatility
SGLS.L vs. SMH - Volatility Comparison
Invesco Physical Gold GBP Hedged ETC (SGLS.L) has a higher volatility of 11.86% compared to VanEck Semiconductor ETF (SMH) at 10.70%. This indicates that SGLS.L's price experiences larger fluctuations and is considered to be riskier than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| SGLS.L | SMH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.86% | 10.70% | +1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 22.18% | 23.28% | -1.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.94% | 36.78% | -10.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.90% | 33.22% | -15.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.20% | 31.65% | -13.45% |