SPGP.L vs. SGBX.L
SPGP.L (iShares Gold Producers UCITS ETF) and SGBX.L (WisdomTree Physical Swiss Gold) are both Precious Metals funds - SPGP.L tracks the EMIX Global Mining Global Gold TR USD while SGBX.L tracks the Gold. Both are passively managed. Over the past 5 years, SPGP.L returned 19.91%/yr vs 19.84%/yr for SGBX.L. A 0.68 correlation means they provide meaningful diversification when combined. SPGP.L charges 0.55%/yr vs 0.15%/yr for SGBX.L.
Performance
SPGP.L vs. SGBX.L - Performance Comparison
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Returns By Period
In the year-to-date period, SPGP.L achieves a 1.44% return, which is significantly lower than SGBX.L's 3.86% return.
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%
SGBX.L
- 1D
- 0.68%
- 1M
- -1.38%
- YTD
- 3.86%
- 6M
- 5.27%
- 1Y
- 33.50%
- 3Y*
- 28.08%
- 5Y*
- 19.84%
- 10Y*
- —
SPGP.L vs. SGBX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | -12.76% |
SGBX.L WisdomTree Physical Swiss Gold | 3.86% | 53.55% | 28.13% | 7.24% | 12.36% | -3.37% | 20.00% | 14.67% | 4.35% | -3.78% |
Correlation
The correlation between SPGP.L and SGBX.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 | 0.67 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2017 | 0.68 |
The correlation between SPGP.L and SGBX.L has been stable across timeframes, ranging from 0.67 to 0.76 - a consistent structural relationship.
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Return for Risk
SPGP.L vs. SGBX.L — Risk / Return Rank
SPGP.L
SGBX.L
SPGP.L vs. SGBX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Gold Producers UCITS ETF (SPGP.L) and WisdomTree Physical Swiss Gold (SGBX.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 | SGBX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.29 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 1.85 | +0.48 |
| Martin ratioReturn relative to average drawdown | 5.97 | 4.94 | +1.03 |
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 | SGBX.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.60 | 1.44 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | 1.23 | -0.60 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.90 | -0.78 |
Drawdowns
SPGP.L vs. SGBX.L - Drawdown Comparison
The maximum SPGP.L drawdown since its inception was -79.54%, which is greater than SGBX.L's maximum drawdown of -22.29%. Use the drawdown chart below to compare losses from any high point for SPGP.L and SGBX.L.
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Drawdown Indicators
| SPGP.L | SGBX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.54% | -22.29% | -57.25% |
Max Drawdown (1Y)Largest decline over 1 year | -27.66% | -18.07% | -9.59% |
Max Drawdown (3Y)Largest decline over 3 years | -27.66% | -18.07% | -9.59% |
Max Drawdown (5Y)Largest decline over 5 years | -34.81% | -18.07% | -16.74% |
Max Drawdown (10Y)Largest decline over 10 years | -43.71% | — | — |
Current DrawdownCurrent decline from peak | -24.04% | -16.26% | -7.78% |
Average DrawdownAverage peak-to-trough decline | -42.31% | -6.07% | -36.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.81% | 6.76% | +4.05% |
Volatility
SPGP.L vs. SGBX.L - Volatility Comparison
iShares Gold Producers UCITS ETF (SPGP.L) has a higher volatility of 13.10% compared to WisdomTree Physical Swiss Gold (SGBX.L) at 5.08%. This indicates that SPGP.L's price experiences larger fluctuations and is considered to be riskier than SGBX.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 | SGBX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.10% | 5.08% | +8.02% |
Volatility (6M)Calculated over the trailing 6-month period | 32.23% | 19.94% | +12.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.28% | 23.13% | +17.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.56% | 16.17% | +15.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.31% | 15.17% | +17.14% |
SPGP.L vs. SGBX.L - Expense Ratio Comparison
SPGP.L has a 0.55% expense ratio, which is higher than SGBX.L's 0.15% expense ratio.
Dividends
SPGP.L vs. SGBX.L - Dividend Comparison
Neither SPGP.L nor SGBX.L has paid dividends to shareholders.
Frequently Asked Questions
SPGP.L and SGBX.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, SGBX.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGBX.L is cheaper with a 0.15% expense ratio, compared with 0.55% for SPGP.L.
SPGP.L tracks EMIX Global Mining Global Gold TR USD, while SGBX.L tracks Gold. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.55% for SPGP.L and 0.15% for SGBX.L.
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