SPGP.L vs. IGLN.L
SPGP.L (iShares Gold Producers UCITS ETF) and IGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - SPGP.L is a Precious Metals fund tracking the EMIX Global Mining Global Gold TR USD, while IGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, SPGP.L returned 15.18%/yr vs 14.29%/yr for IGLN.L. A 0.69 correlation means they provide meaningful diversification when combined. SPGP.L charges 0.55%/yr vs 0.25%/yr for IGLN.L.
Performance
SPGP.L vs. IGLN.L - Performance Comparison
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Different Trading Currencies
SPGP.L is traded in GBp, while IGLN.L is traded in USD. To make them comparable, the IGLN.L 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 0.82% return, which is significantly lower than IGLN.L's 3.39% return. Over the past 10 years, SPGP.L has outperformed IGLN.L with an annualized return of 15.18%, while IGLN.L has yielded a comparatively lower 14.29% annualized return.
SPGP.L
- 1D
- -1.87%
- 1M
- -0.66%
- YTD
- 0.82%
- 6M
- 5.68%
- 1Y
- 64.09%
- 3Y*
- 38.07%
- 5Y*
- 19.77%
- 10Y*
- 15.18%
IGLN.L
- 1D
- -1.19%
- 1M
- -3.16%
- YTD
- 3.39%
- 6M
- 4.54%
- 1Y
- 33.37%
- 3Y*
- 27.87%
- 5Y*
- 19.72%
- 10Y*
- 14.29%
SPGP.L vs. IGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPGP.L iShares Gold Producers UCITS ETF | 0.82% | 137.41% | 12.81% | 3.72% | -0.45% | -9.15% | 19.43% | 41.00% | -4.37% | -2.80% |
IGLN.L iShares Physical Gold ETC | 3.39% | 53.17% | 28.35% | 7.77% | 11.79% | -3.12% | 20.51% | 13.78% | 4.54% | 2.01% |
Correlation
The correlation between SPGP.L and IGLN.L is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2011 | 0.69 |
The correlation between SPGP.L and IGLN.L has been stable across timeframes, ranging from 0.66 to 0.76 - a consistent structural relationship.
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Return for Risk
SPGP.L vs. IGLN.L — Risk / Return Rank
SPGP.L
IGLN.L
SPGP.L vs. IGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Producers UCITS ETF (SPGP.L) and iShares Physical Gold ETC (IGLN.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.
| SPGP.L | IGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.27 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 1.89 | +0.41 |
| Martin ratioReturn relative to average drawdown | 5.97 | 5.11 | +0.86 |
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
| SPGP.L | IGLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.58 | 1.38 | +0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | 1.17 | -0.55 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.87 | -0.40 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.52 | -0.40 |
Drawdowns
SPGP.L vs. IGLN.L - Drawdown Comparison
The maximum SPGP.L drawdown since its inception was -79.54%, which is greater than IGLN.L's maximum drawdown of -41.86%. Use the drawdown chart below to compare losses from any high point for SPGP.L and IGLN.L.
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Drawdown Indicators
| SPGP.L | IGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.54% | -41.86% | -37.68% |
Max Drawdown (1Y)Largest decline over 1 year | -27.66% | -17.53% | -10.13% |
Max Drawdown (3Y)Largest decline over 3 years | -27.66% | -17.53% | -10.13% |
Max Drawdown (5Y)Largest decline over 5 years | -34.81% | -17.53% | -17.28% |
Max Drawdown (10Y)Largest decline over 10 years | -43.71% | -22.37% | -21.34% |
Current DrawdownCurrent decline from peak | -24.50% | -16.35% | -8.15% |
Average DrawdownAverage peak-to-trough decline | -42.31% | -14.94% | -27.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.71% | 6.51% | +4.20% |
Volatility
SPGP.L vs. IGLN.L - Volatility Comparison
iShares Gold Producers UCITS ETF (SPGP.L) has a higher volatility of 13.09% compared to iShares Physical Gold ETC (IGLN.L) at 6.05%. This indicates that SPGP.L's price experiences larger fluctuations and is considered to be riskier than IGLN.L 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 | IGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.09% | 6.05% | +7.04% |
Volatility (6M)Calculated over the trailing 6-month period | 32.24% | 21.14% | +11.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.30% | 24.09% | +16.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.56% | 16.81% | +14.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.32% | 16.35% | +15.97% |
SPGP.L vs. IGLN.L - Expense Ratio Comparison
SPGP.L has a 0.55% expense ratio, which is higher than IGLN.L's 0.25% expense ratio.
Dividends
SPGP.L vs. IGLN.L - Dividend Comparison
Neither SPGP.L nor IGLN.L has paid dividends to shareholders.
Frequently Asked Questions
SPGP.L and IGLN.L have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGLN.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLN.L is cheaper with a 0.25% expense ratio, compared with 0.55% for SPGP.L.
SPGP.L is categorized as Precious Metals, while IGLN.L is Gold. SPGP.L tracks EMIX Global Mining Global Gold TR USD, while IGLN.L tracks LBMA Gold Price. Their fees differ too: 0.55% for SPGP.L and 0.25% for IGLN.L.
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