SGOL vs. AMUN
SGOL (abrdn Physical Gold Shares ETF) and AMUN (abrdn Ultra Short Municipal Income Active ETF) are both exchange-traded funds - SGOL is a Gold fund tracking the LBMA Gold Price PM ($/ozt), while AMUN is a Municipal Bonds fund actively managed by abrdn. SGOL is passively managed, while AMUN is actively managed. Their -0.05 correlation means they have often moved in opposite directions in the past. SGOL charges 0.17%/yr vs 0.25%/yr for AMUN.
Performance
SGOL vs. AMUN - Performance Comparison
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Returns By Period
In the year-to-date period, SGOL achieves a -1.56% return, which is significantly lower than AMUN's 1.55% return.
SGOL
- 1D
- 4.15%
- 1M
- 1.99%
- 6M
- -14.09%
- YTD
- -1.56%
- 1Y
- 25.51%
- 3Y*
- 29.62%
- 5Y*
- 19.05%
- 10Y*
- 12.01%
- ALL TIME*
- 8.62%
AMUN
- 1D
- 0.00%
- 1M
- 0.23%
- 6M
- 1.24%
- YTD
- 1.55%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $20.51K | $41.78K | $66.52K | |
| $86.81M | $80.44M | $100.71M |
SGOL vs. AMUN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SGOL abrdn Physical Gold Shares ETF | -1.56% | 1.94% |
AMUN abrdn Ultra Short Municipal Income Active ETF | 1.55% | 0.14% |
Correlation
The correlation between SGOL and AMUN is -0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 20, 2025 | -0.05 |
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Return for Risk
SGOL vs. AMUN — Risk / Return Rank
SGOL
AMUN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SGOL vs. AMUN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Gold Shares ETF (SGOL) and abrdn Ultra Short Municipal Income Active ETF (AMUN). 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.
| SGOL | AMUN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.19 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | — | — |
| Martin ratioReturn relative to average drawdown | 2.06 | — | — |
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Drawdowns
SGOL vs. AMUN - Drawdown Comparison
The maximum SGOL drawdown since its inception was -45.51%, which is greater than AMUN's maximum drawdown of -0.61%. Use the drawdown chart below to compare losses from any high point for SGOL and AMUN.
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Drawdown Indicators
| SGOL | AMUN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.51% | -0.61% | -44.90% |
Max Drawdown (1Y)Largest decline over 1 year | -26.32% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -26.32% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -26.32% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -26.32% | — | — |
Current DrawdownCurrent decline from peak | -21.34% | 0.00% | -21.34% |
Average DrawdownAverage peak-to-trough decline | -18.46% | -0.07% | -18.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.42% | — | — |
Volatility
SGOL vs. AMUN - Volatility Comparison
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Volatility by Period
| SGOL | AMUN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.10% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 19.89% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 28.06% | 0.94% | +27.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.46% | 0.94% | +17.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.14% | 0.94% | +15.20% |
SGOL vs. AMUN - Expense Ratio Comparison
SGOL has a 0.17% expense ratio, which is lower than AMUN's 0.25% 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
SGOL vs. AMUN - Dividend Comparison
SGOL has not paid dividends to shareholders, while AMUN's dividend yield for the trailing twelve months is around 2.38%.
| Position | TTM | 2025 |
|---|---|---|
AMUN abrdn Ultra Short Municipal Income Active ETF | 2.38% | 0.66% |
SGOL abrdn Physical Gold Shares ETF | 0.00% | 0.00% |
Frequently Asked Questions
SGOL and AMUN have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGOL is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGOL is cheaper with a 0.17% expense ratio, compared with 0.25% for AMUN.
AMUN has the higher dividend yield at 2.38%, compared with 0.00% for SGOL.
SGOL is categorized as Gold, while AMUN is Municipal Bonds. Their fees differ too: 0.17% for SGOL and 0.25% for AMUN.
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