SPGP.L vs. ESGP.L
SPGP.L (iShares Gold Producers UCITS ETF) and ESGP.L (HANetf AuAg ESG Gold Mining UCITS ETF) are both Gold funds tracking the EMIX Global Mining Global Gold TR USD, from iShares and HANetf respectively. Both are passively managed. Over the past 3 years, SPGP.L returned 36.59%/yr vs 32.70%/yr for ESGP.L. Their correlation of 0.93 suggests significant overlap in exposure. SPGP.L charges 0.55%/yr vs 0.60%/yr for ESGP.L.
Performance
SPGP.L vs. ESGP.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SPGP.L having a -9.84% return and ESGP.L slightly higher at -9.70%.
SPGP.L
- 1D
- -4.05%
- 1M
- -9.78%
- YTD
- -9.84%
- 6M
- -13.66%
- 1Y
- 50.38%
- 3Y*
- 36.59%
- 5Y*
- 19.42%
- 10Y*
- 12.38%
ESGP.L
- 1D
- -4.33%
- 1M
- -10.16%
- YTD
- -9.70%
- 6M
- -13.87%
- 1Y
- 43.92%
- 3Y*
- 32.70%
- 5Y*
- —
- 10Y*
- —
SPGP.L vs. ESGP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SPGP.L iShares Gold Producers UCITS ETF | -9.84% | 137.41% | 12.81% | 3.72% | -0.45% | -2.99% |
ESGP.L HANetf AuAg ESG Gold Mining UCITS ETF | -9.70% | 136.71% | 3.17% | -0.39% | 2.14% | -2.42% |
Correlation
The correlation between SPGP.L and ESGP.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2021 | 0.93 |
The correlation between SPGP.L and ESGP.L has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
SPGP.L vs. ESGP.L — Risk / Return Rank
SPGP.L
ESGP.L
SPGP.L vs. ESGP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Producers UCITS ETF (SPGP.L) and HANetf AuAg ESG Gold Mining UCITS ETF (ESGP.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.
| SPGP.L | ESGP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.19 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 1.29 | +0.19 |
| Martin ratioReturn relative to average drawdown | 3.96 | 3.28 | +0.67 |
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Drawdowns
SPGP.L vs. ESGP.L - Drawdown Comparison
The maximum SPGP.L drawdown since its inception was -86.56%, which is greater than ESGP.L's maximum drawdown of -36.54%. Use the drawdown chart below to compare losses from any high point for SPGP.L and ESGP.L.
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Drawdown Indicators
| SPGP.L | ESGP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.56% | -36.54% | -50.02% |
Max Drawdown (1Y)Largest decline over 1 year | -33.69% | -33.80% | +0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -33.69% | -33.80% | +0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -34.81% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -43.71% | — | — |
Current DrawdownCurrent decline from peak | -32.49% | -33.15% | +0.66% |
Average DrawdownAverage peak-to-trough decline | -60.18% | -13.70% | -46.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.69% | 13.34% | -0.65% |
Volatility
SPGP.L vs. ESGP.L - Volatility Comparison
iShares Gold Producers UCITS ETF (SPGP.L) and HANetf AuAg ESG Gold Mining UCITS ETF (ESGP.L) have volatilities of 16.42% and 17.15%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPGP.L | ESGP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.42% | 17.15% | -0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 35.24% | 35.29% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.02% | 43.35% | -0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.25% | 33.73% | +1.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.82% | 33.73% | +0.09% |
SPGP.L vs. ESGP.L - Expense Ratio Comparison
SPGP.L has a 0.55% expense ratio, which is lower than ESGP.L's 0.60% expense ratio.
Dividends
SPGP.L vs. ESGP.L - Dividend Comparison
Neither SPGP.L nor ESGP.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.96, SPGP.L and ESGP.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, SPGP.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPGP.L is cheaper with a 0.55% expense ratio, compared with 0.60% for ESGP.L.
Both ETFs track EMIX Global Mining Global Gold TR USD. They also come from different issuers: iShares and HANetf. Their fees differ too: 0.55% for SPGP.L and 0.60% for ESGP.L.
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