SGOL vs. SBR

Last updated Jul 26, 2026

SGOL (abrdn Physical Gold Shares ETF) is Gold fund tracking the LBMA Gold Price PM ($/ozt), while SBR (Sabine Royalty Trust) is a stock. Over the past 10 years, SGOL returned 11.62%/yr vs 16.34%/yr for SBR. Their 0.07 correlation means their historical movements had little consistent relationship.

Performance

SGOL vs. SBR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Physical Gold Shares ETF (SGOL) and Sabine Royalty Trust (SBR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SGOL achieves a -6.06% return, which is significantly lower than SBR's 11.57% return. Over the past 10 years, SGOL has underperformed SBR with an annualized return of 11.62%, while SBR has yielded a comparatively higher 16.34% annualized return.

SGOL

• 1D: 0.08%
• 1M: 0.65%
• 6M: -18.71%
• YTD: -6.06%
• 1Y: 21.20%
• 3Y*: 27.11%
• 5Y*: 17.42%
• 10Y*: 11.62%
• ALL TIME*: 8.34%

SBR

• 1D: -0.51%
• 1M: 2.51%
• 6M: 11.20%
• YTD: 11.57%
• 1Y: 19.45%
• 3Y*: 12.34%
• 5Y*: 24.15%
• 10Y*: 16.34%
• ALL TIME*: 15.38%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SBR Sabine Royalty Trust	$2.30M	$2.17M	$2.74M
SGOL abrdn Physical Gold Shares ETF	$79.87M	$79.24M	$102.39M

SGOL vs. SBR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SGOL abrdn Physical Gold Shares ETF	-6.06%	63.99%	26.90%	12.99%	-0.51%	-3.94%	25.03%	18.21%	-1.94%	12.86%
SBR Sabine Royalty Trust	11.57%	14.04%	4.06%	-13.10%	132.08%	60.71%	-24.24%	15.77%	-9.61%	34.83%

Correlation

The correlation between SGOL and SBR is 0.00, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.00
Correlation (3Y) Balances recent behavior with more history.	0.03
Correlation (5Y) Shows whether the relationship held over a longer period.	0.06
Correlation (10Y) Provides a long-term view across more market conditions.	0.03
Correlation (All Time) Calculated using the full available price history since Sep 9, 2009	0.07

Return for Risk

SGOL vs. SBR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SGOL

SGOL Risk / Return Rank: 28
SGOL Sharpe Ratio Rank: 31
SGOL Sortino Ratio Rank: 29
SGOL Omega Ratio Rank: 33
SGOL Calmar Ratio Rank: 25
SGOL Martin Ratio Rank: 24

SBR

SBR Risk / Return Rank: 67
SBR Sharpe Ratio Rank: 72
SBR Sortino Ratio Rank: 64
SBR Omega Ratio Rank: 64
SBR Calmar Ratio Rank: 68
SBR Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SGOL vs. SBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Gold Shares ETF (SGOL) and Sabine Royalty Trust (SBR). 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	SBR	Difference
Sharpe ratio: Return per unit of total volatility	0.73	0.78	-0.05
Sortino ratio: Return per unit of downside risk	1.07	1.12	-0.05
Omega ratio: Gain probability vs. loss probability	1.15	1.15	+0.01
Calmar ratio: Return relative to maximum drawdown	0.77	1.03	-0.26
Martin ratio: Return relative to average drawdown	1.73	2.10	-0.37

SGOL vs. SBR - Sharpe Ratio Comparison

The current SGOL Sharpe Ratio is 0.73, which is comparable to the SBR Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of SGOL and SBR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SGOL vs. SBR - Drawdown Comparison

The maximum SGOL drawdown since its inception was -45.51%, smaller than the maximum SBR drawdown of -56.40%. Use the drawdown chart below to compare losses from any high point for SGOL and SBR.

Drawdown Indicators

	SGOL	SBR	Difference
Max Drawdown Largest peak-to-trough decline	-45.51%	-56.40%	+10.89%
Max Drawdown (1Y) Largest decline over 1 year	-26.32%	-18.54%	-7.78%
Max Drawdown (3Y) Largest decline over 3 years	-26.32%	-18.54%	-7.78%
Max Drawdown (5Y) Largest decline over 5 years	-26.32%	-34.56%	+8.24%
Max Drawdown (10Y) Largest decline over 10 years	-26.32%	-50.71%	+24.39%
Current Drawdown Current decline from peak	-24.94%	-5.64%	-19.30%
Average Drawdown Average peak-to-trough decline	-18.45%	-13.61%	-4.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.64%	9.05%	+2.59%

Volatility

SGOL vs. SBR - Volatility Comparison

abrdn Physical Gold Shares ETF (SGOL) has a higher volatility of 6.07% compared to Sabine Royalty Trust (SBR) at 3.95%. This indicates that SGOL's price experiences larger fluctuations and is considered to be riskier than SBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGOL	SBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.07%	3.95%	+2.12%
Volatility (6M) Calculated over the trailing 6-month period	23.69%	15.32%	+8.37%
Volatility (1Y) Calculated over the trailing 1-year period	27.79%	24.41%	+3.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.34%	31.69%	-13.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.08%	31.21%	-15.13%

Dividends

SGOL vs. SBR - Dividend Comparison

SGOL has not paid dividends to shareholders, while SBR's dividend yield for the trailing twelve months is around 6.64%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SBR Sabine Royalty Trust	6.64%	7.53%	8.41%	9.41%	10.13%	7.72%	8.59%	7.49%	8.98%	5.31%	5.50%	11.82%
SGOL abrdn Physical Gold Shares ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SGOL and SBR in my portfolio?

SGOL and SBR have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SGOL or SBR?

SGOL has higher volatility (6.07%) compared to SBR (3.95%). In terms of maximum drawdown, SGOL dropped -45.51% vs SBR's -56.40%.

Which has better risk-adjusted returns?

SBR currently has the higher Sharpe Ratio (0.78 vs 0.73), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.