SGOL vs. XCEM
SGOL (abrdn Physical Gold Shares ETF) and XCEM (Columbia EM Core ex-China ETF) are both exchange-traded funds - SGOL is a Gold fund tracking the LBMA Gold Price PM ($/ozt), while XCEM is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index. Both are passively managed. Over the past 10 years, SGOL returned 12.74%/yr vs 12.13%/yr for XCEM. At a 0.19 correlation, their price movements are largely independent. SGOL charges 0.17%/yr vs 0.16%/yr for XCEM.
Performance
SGOL vs. XCEM - Performance Comparison
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Returns By Period
In the year-to-date period, SGOL achieves a 0.32% return, which is significantly lower than XCEM's 30.29% return. Both investments have delivered pretty close results over the past 10 years, with SGOL having a 12.74% annualized return and XCEM not far behind at 12.13%.
SGOL
- 1D
- 0.22%
- 1M
- -8.40%
- YTD
- 0.32%
- 6M
- 3.15%
- 1Y
- 30.41%
- 3Y*
- 29.97%
- 5Y*
- 17.81%
- 10Y*
- 12.74%
XCEM
- 1D
- 2.17%
- 1M
- -1.32%
- YTD
- 30.29%
- 6M
- 35.41%
- 1Y
- 58.25%
- 3Y*
- 23.31%
- 5Y*
- 10.94%
- 10Y*
- 12.13%
SGOL vs. XCEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SGOL abrdn Physical Gold Shares ETF | 0.32% | 63.99% | 26.90% | 12.99% | -0.51% | -3.94% | 25.03% | 18.21% | -1.94% | 12.86% |
XCEM Columbia EM Core ex-China ETF | 30.29% | 34.05% | 0.42% | 19.96% | -17.59% | 7.87% | 9.47% | 19.74% | -11.75% | 34.78% |
Correlation
The correlation between SGOL and XCEM is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Sep 3, 2015 | 0.19 |
The correlation between SGOL and XCEM shifts across timeframes, from 0.19 (all time) to 0.33 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SGOL vs. XCEM — Risk / Return Rank
SGOL
XCEM
SGOL vs. XCEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Physical Gold Shares ETF (SGOL) and Columbia EM Core ex-China ETF (XCEM). 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.
| SGOL | XCEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.49 | ||
| Sortino ratioReturn per unit of downside risk | -1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.48 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | 4.05 | -2.52 |
| Martin ratioReturn relative to average drawdown | 3.82 | 16.03 | -12.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SGOL | XCEM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.15 | 2.64 | -1.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.00 | 0.61 | +0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.80 | 0.61 | +0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.60 | -0.06 |
Drawdowns
SGOL vs. XCEM - Drawdown Comparison
The maximum SGOL drawdown since its inception was -45.51%, which is greater than XCEM's maximum drawdown of -41.24%. Use the drawdown chart below to compare losses from any high point for SGOL and XCEM.
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Drawdown Indicators
| SGOL | XCEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.51% | -41.24% | -4.27% |
Max Drawdown (1Y)Largest decline over 1 year | -20.02% | -14.46% | -5.56% |
Max Drawdown (3Y)Largest decline over 3 years | -20.02% | -18.92% | -1.10% |
Max Drawdown (5Y)Largest decline over 5 years | -20.92% | -29.65% | +8.73% |
Max Drawdown (10Y)Largest decline over 10 years | -21.56% | -41.24% | +19.68% |
Current DrawdownCurrent decline from peak | -19.84% | -6.98% | -12.86% |
Average DrawdownAverage peak-to-trough decline | -18.41% | -8.59% | -9.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.98% | 3.64% | +4.34% |
Volatility
SGOL vs. XCEM - Volatility Comparison
The current volatility for abrdn Physical Gold Shares ETF (SGOL) is 5.62%, while Columbia EM Core ex-China ETF (XCEM) has a volatility of 11.63%. This indicates that SGOL experiences smaller price fluctuations and is considered to be less risky than XCEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SGOL | XCEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.62% | 11.63% | -6.01% |
Volatility (6M)Calculated over the trailing 6-month period | 23.24% | 20.28% | +2.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.58% | 22.22% | +4.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.96% | 18.05% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.95% | 19.83% | -3.88% |
SGOL vs. XCEM - Expense Ratio Comparison
SGOL has a 0.17% expense ratio, which is higher than XCEM's 0.16% expense ratio. However, 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. XCEM - Dividend Comparison
SGOL has not paid dividends to shareholders, while XCEM's dividend yield for the trailing twelve months is around 2.50%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XCEM Columbia EM Core ex-China ETF | 2.50% | 3.25% | 2.76% | 1.22% | 2.42% | 1.94% | 1.63% | 2.11% | 2.70% | 9.56% | 1.24% | 2.63% |
Frequently Asked Questions
SGOL and XCEM have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XCEM has higher volatility (11.63%) compared to SGOL (5.62%). In terms of maximum drawdown, SGOL dropped -45.51% vs XCEM's -41.24%.
On 10-year performance, SGOL leads with 12.74% vs 12.13% for XCEM. On fees, XCEM is cheaper at 0.16% per year. On volatility, SGOL has been the lower-risk option at 5.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SGOL has performed better with a 12.74% return vs 12.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XCEM is cheaper with a 0.16% expense ratio, compared with 0.17% for SGOL.
XCEM has the higher dividend yield at 2.50%, compared with 0.00% for SGOL.
SGOL is categorized as Gold, while XCEM is Emerging Markets Equities. SGOL tracks LBMA Gold Price PM ($/ozt), while XCEM tracks MSCI Emerging Markets ex China Index. They also come from different issuers: abrdn and Ameriprise Financial. Their fees differ too: 0.17% for SGOL and 0.16% for XCEM.
XCEM currently has the higher Sharpe Ratio (2.64 vs 1.15), 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.
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