SPEX.L vs. SGLN.L
SPEX.L (Invesco S&P 500 Equal Weight UCITS ETF Acc) and SGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - SPEX.L is a S&P 500 fund tracking the S&P 500 Equal Weight Index, while SGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 5 years, SPEX.L returned 9.48%/yr vs 18.64%/yr for SGLN.L. At a 0.02 correlation, their price movements are largely independent. SPEX.L charges 0.20%/yr vs 0.12%/yr for SGLN.L.
Performance
SPEX.L vs. SGLN.L - Performance Comparison
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Returns By Period
In the year-to-date period, SPEX.L achieves a 10.36% return, which is significantly higher than SGLN.L's -1.83% return.
SPEX.L
- 1D
- 1.36%
- 1M
- 4.17%
- YTD
- 10.36%
- 6M
- 9.63%
- 1Y
- 21.84%
- 3Y*
- 12.03%
- 5Y*
- 9.48%
- 10Y*
- —
SGLN.L
- 1D
- 2.90%
- 1M
- -9.54%
- YTD
- -1.83%
- 6M
- -1.90%
- 1Y
- 24.78%
- 3Y*
- 26.65%
- 5Y*
- 18.64%
- 10Y*
- 13.01%
SPEX.L vs. SGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPEX.L Invesco S&P 500 Equal Weight UCITS ETF Acc | 10.36% | 3.90% | 14.09% | 7.64% | -1.17% | 8,302.22% |
SGLN.L iShares Physical Gold ETC | -1.83% | 53.66% | 28.20% | 7.24% | 11.84% | 7.87% |
Correlation
The correlation between SPEX.L and SGLN.L is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021 | 0.02 |
The correlation between SPEX.L and SGLN.L shifts across timeframes, from 0.02 (5 years) to 0.13 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPEX.L vs. SGLN.L — Risk / Return Rank
SPEX.L
SGLN.L
SPEX.L vs. SGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight UCITS ETF Acc (SPEX.L) and iShares Physical Gold ETC (SGLN.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.
| SPEX.L | SGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.13 | ||
| Sortino ratioReturn per unit of downside risk | +1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.22 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.73 | 1.13 | +2.60 |
| Martin ratioReturn relative to average drawdown | 12.14 | 3.51 | +8.63 |
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Drawdowns
SPEX.L vs. SGLN.L - Drawdown Comparison
The maximum SPEX.L drawdown since its inception was -20.03%, smaller than the maximum SGLN.L drawdown of -53.23%. Use the drawdown chart below to compare losses from any high point for SPEX.L and SGLN.L.
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Drawdown Indicators
| SPEX.L | SGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.03% | -53.23% | +33.20% |
Max Drawdown (1Y)Largest decline over 1 year | -5.73% | -22.87% | +17.14% |
Max Drawdown (3Y)Largest decline over 3 years | -20.03% | -22.87% | +2.84% |
Max Drawdown (5Y)Largest decline over 5 years | -20.03% | -22.87% | +2.84% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.87% | — |
Current DrawdownCurrent decline from peak | 0.00% | -20.64% | +20.64% |
Average DrawdownAverage peak-to-trough decline | -5.59% | -24.70% | +19.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.77% | 7.37% | -5.60% |
Volatility
SPEX.L vs. SGLN.L - Volatility Comparison
The current volatility for Invesco S&P 500 Equal Weight UCITS ETF Acc (SPEX.L) is 2.40%, while iShares Physical Gold ETC (SGLN.L) has a volatility of 6.68%. This indicates that SPEX.L experiences smaller price fluctuations and is considered to be less risky than SGLN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPEX.L | SGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.40% | 6.68% | -4.28% |
Volatility (6M)Calculated over the trailing 6-month period | 6.74% | 20.78% | -14.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.70% | 23.82% | -14.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.59% | 21.84% | -2.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2,846.16% | 18.84% | +2,827.32% |
SPEX.L vs. SGLN.L - Expense Ratio Comparison
SPEX.L has a 0.20% expense ratio, which is higher than SGLN.L's 0.12% 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
SPEX.L vs. SGLN.L - Dividend Comparison
Neither SPEX.L nor SGLN.L has paid dividends to shareholders.
Frequently Asked Questions
SPEX.L and SGLN.L have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGLN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGLN.L is cheaper with a 0.12% expense ratio, compared with 0.20% for SPEX.L.
SPEX.L is categorized as S&P 500, while SGLN.L is Gold. SPEX.L tracks S&P 500 Equal Weight Index, while SGLN.L tracks LBMA Gold Price. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.20% for SPEX.L and 0.12% for SGLN.L.
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