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SPGP.L vs. ^GSPC
Performance
Return for Risk
Drawdowns
Volatility

SPGP.L vs. ^GSPC

Last updated Jun 5, 2026

SPGP.L (iShares Gold Producers UCITS ETF) is Precious Metals fund tracking the EMIX Global Mining Global Gold TR USD, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, SPGP.L returned 14.96%/yr vs 14.50%/yr for ^GSPC. At a 0.03 correlation, their price movements are largely independent.

Performance

SPGP.L vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Gold Producers UCITS ETF (SPGP.L) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

SPGP.L is traded in GBp, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, SPGP.L achieves a 1.44% return, which is significantly lower than ^GSPC's 11.24% return. Both investments have delivered pretty close results over the past 10 years, with SPGP.L having a 14.96% annualized return and ^GSPC not far behind at 14.50%.

SPGP.L

1D
0.61%
1M
0.17%
YTD
1.44%
6M
6.67%
1Y
64.79%
3Y*
38.31%
5Y*
19.91%
10Y*
14.96%

^GSPC

1D
0.41%
1M
5.44%
YTD
11.24%
6M
9.84%
1Y
28.25%
3Y*
18.03%
5Y*
13.60%
10Y*
14.50%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPGP.L vs. ^GSPC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPGP.L
iShares Gold Producers UCITS ETF		1.44%137.41%12.81%3.72%-0.45%-9.15%19.43%41.00%-4.37%-2.80%
^GSPC
S&P 500 Index		11.24%8.10%25.46%18.02%-9.86%28.09%12.84%23.98%-0.68%9.09%

Correlation

The correlation between SPGP.L and ^GSPC is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.12

Correlation (3Y)
Calculated over the trailing 3-year period

0.04

Correlation (5Y)
Calculated over the trailing 5-year period

-0.01

Correlation (10Y)
Calculated over the trailing 10-year period

0.03

Correlation (All Time)
Calculated using the full available price history since Sep 21, 2011

0.03

The correlation between SPGP.L and ^GSPC shifts across timeframes, from -0.01 (5 years) to 0.12 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Gold Producers UCITS ETF

S&P 500 Index

Often compared with SPGP.L:
SPGP.L vs. GDXSPGP.L vs. IAUSPGP.L vs. EGLN.LSPGP.L vs. VOOSPGP.L vs. SCHGSPGP.L vs. AUCP.LSPGP.L vs. GDGB.L
Often compared with ^GSPC:
^GSPC vs. ^IBEX^GSPC vs. AVGO^GSPC vs. SCHD^GSPC vs. GC=F^GSPC vs. TSMU^GSPC vs. QQQ^GSPC vs. ACWI

Return for Risk

SPGP.L vs. ^GSPC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPGP.L
SPGP.L Risk / Return Rank: 4343
Overall Rank
SPGP.L Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
SPGP.L Sortino Ratio Rank: 4141
Sortino Ratio Rank
SPGP.L Omega Ratio Rank: 4242
Omega Ratio Rank
SPGP.L Calmar Ratio Rank: 4848
Calmar Ratio Rank
SPGP.L Martin Ratio Rank: 3939
Martin Ratio Rank
^GSPC
^GSPC Risk / Return Rank: 8080
Overall Rank
^GSPC Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
^GSPC Sortino Ratio Rank: 7979
Sortino Ratio Rank
^GSPC Omega Ratio Rank: 7979
Omega Ratio Rank
^GSPC Calmar Ratio Rank: 7676
Calmar Ratio Rank
^GSPC Martin Ratio Rank: 8686
Martin Ratio Rank
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.

SPGP.L vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Gold Producers UCITS ETF (SPGP.L) and S&P 500 Index (^GSPC). 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.

SPGP.L^GSPCDifference
Sharpe ratioReturn per unit of total volatility
1.60
2.46

-0.86

Sortino ratioReturn per unit of downside risk
2.06
3.20

-1.14

Omega ratioGain probability vs. loss probability

1.27

1.46

-0.19

Calmar ratioReturn relative to maximum drawdown

2.33

3.53

-1.20

Martin ratioReturn relative to average drawdown

5.97

13.19

-7.22

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPGP.L vs. ^GSPC - Sharpe Ratio Comparison

The current SPGP.L Sharpe Ratio is 1.60, which is lower than the ^GSPC Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of SPGP.L and ^GSPC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SPGP.L^GSPCDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.60

2.46

-0.86

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.63

0.86

-0.23

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.46

0.80

-0.34

Sharpe Ratio (All Time)

Calculated using the full available price history

0.12

0.58

-0.46

Drawdowns

SPGP.L vs. ^GSPC - Drawdown Comparison

The maximum SPGP.L drawdown since its inception was -79.54%, which is greater than ^GSPC's maximum drawdown of -37.07%. Use the drawdown chart below to compare losses from any high point for SPGP.L and ^GSPC.

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Drawdown Indicators

SPGP.L^GSPCDifference

Max Drawdown

Largest peak-to-trough decline

-79.54%

-37.07%

-42.47%

Max Drawdown (1Y)

Largest decline over 1 year

-27.66%

-8.03%

-19.63%

Max Drawdown (3Y)

Largest decline over 3 years

-27.66%

-22.15%

-5.51%

Max Drawdown (5Y)

Largest decline over 5 years

-34.81%

-22.15%

-12.66%

Max Drawdown (10Y)

Largest decline over 10 years

-43.71%

-26.01%

-17.70%

Current Drawdown

Current decline from peak

-24.04%

0.00%

-24.04%

Average Drawdown

Average peak-to-trough decline

-42.31%

-5.32%

-36.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.81%

2.15%

+8.66%

Volatility

SPGP.L vs. ^GSPC - Volatility Comparison

iShares Gold Producers UCITS ETF (SPGP.L) has a higher volatility of 13.10% compared to S&P 500 Index (^GSPC) at 2.60%. This indicates that SPGP.L's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPGP.L^GSPCDifference

Volatility (1M)

Calculated over the trailing 1-month period

13.10%

2.60%

+10.50%

Volatility (6M)

Calculated over the trailing 6-month period

32.23%

8.20%

+24.03%

Volatility (1Y)

Calculated over the trailing 1-year period

40.28%

11.52%

+28.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

31.56%

15.85%

+15.71%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

32.31%

18.15%

+14.16%

Frequently Asked Questions

SPGP.L and ^GSPC have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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