SPMD.L vs. IGLN.L
SPMD.L (iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist)) and IGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - SPMD.L is a S&P 500 fund tracking the S&P 500 Minimum Volatility Index, while IGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 5 years, SPMD.L returned 8.91%/yr vs 18.61%/yr for IGLN.L. At a 0.13 correlation, their price movements are largely independent. SPMD.L charges 0.20%/yr vs 0.25%/yr for IGLN.L.
Performance
SPMD.L vs. IGLN.L - Performance Comparison
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Returns By Period
In the year-to-date period, SPMD.L achieves a 4.17% return, which is significantly higher than IGLN.L's 3.70% return.
SPMD.L
- 1D
- 0.15%
- 1M
- 3.76%
- YTD
- 4.17%
- 6M
- 5.47%
- 1Y
- 11.38%
- 3Y*
- 13.82%
- 5Y*
- 8.91%
- 10Y*
- —
IGLN.L
- 1D
- 0.68%
- 1M
- -2.35%
- YTD
- 3.70%
- 6M
- 6.03%
- 1Y
- 32.37%
- 3Y*
- 31.55%
- 5Y*
- 18.61%
- 10Y*
- 13.42%
SPMD.L vs. IGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPMD.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist) | 4.17% | 11.56% | 18.70% | 9.87% | -10.96% | 24.92% | 7.60% | 30.93% | -4.56% |
IGLN.L iShares Physical Gold ETC | 3.70% | 64.92% | 26.14% | 13.44% | -0.09% | -4.03% | 24.16% | 18.28% | -3.61% |
Correlation
The correlation between SPMD.L and IGLN.L is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2018 | 0.13 |
The correlation between SPMD.L and IGLN.L shifts across timeframes, from 0.13 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPMD.L vs. IGLN.L — Risk / Return Rank
SPMD.L
IGLN.L
SPMD.L vs. IGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist) (SPMD.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.
| SPMD.L | IGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.25 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 1.86 | -0.04 |
| Martin ratioReturn relative to average drawdown | 7.13 | 4.79 | +2.33 |
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
| SPMD.L | IGLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.36 | 1.30 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 1.07 | -0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.86 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.46 | +0.25 |
Drawdowns
SPMD.L vs. IGLN.L - Drawdown Comparison
The maximum SPMD.L drawdown since its inception was -33.34%, smaller than the maximum IGLN.L drawdown of -45.24%. Use the drawdown chart below to compare losses from any high point for SPMD.L and IGLN.L.
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Drawdown Indicators
| SPMD.L | IGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.34% | -45.24% | +11.90% |
Max Drawdown (1Y)Largest decline over 1 year | -6.23% | -17.36% | +11.13% |
Max Drawdown (3Y)Largest decline over 3 years | -12.11% | -17.36% | +5.25% |
Max Drawdown (5Y)Largest decline over 5 years | -18.68% | -21.15% | +2.47% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.15% | — |
Current DrawdownCurrent decline from peak | 0.00% | -15.66% | +15.66% |
Average DrawdownAverage peak-to-trough decline | -4.20% | -19.80% | +15.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 6.74% | -5.15% |
Volatility
SPMD.L vs. IGLN.L - Volatility Comparison
The current volatility for iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist) (SPMD.L) is 2.06%, while iShares Physical Gold ETC (IGLN.L) has a volatility of 6.36%. This indicates that SPMD.L experiences smaller price fluctuations and is considered to be less risky 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
| SPMD.L | IGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.06% | 6.36% | -4.30% |
Volatility (6M)Calculated over the trailing 6-month period | 5.98% | 21.73% | -15.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.35% | 24.78% | -16.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.56% | 17.36% | -4.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.63% | 15.54% | -0.91% |
SPMD.L vs. IGLN.L - Expense Ratio Comparison
SPMD.L has a 0.20% expense ratio, which is lower than IGLN.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPMD.L vs. IGLN.L - Dividend Comparison
SPMD.L's dividend yield for the trailing twelve months is around 1.16%, while IGLN.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IGLN.L iShares Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPMD.L iShares Edge S&P 500 Minimum Volatility UCITS ETF USD (Dist) | 1.16% | 1.15% | 1.28% | 1.46% | 1.35% | 1.27% | 1.54% | 1.52% | 1.13% |
Frequently Asked Questions
SPMD.L and IGLN.L have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPMD.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPMD.L is cheaper with a 0.20% expense ratio, compared with 0.25% for IGLN.L.
SPMD.L is categorized as S&P 500, while IGLN.L is Gold. SPMD.L tracks S&P 500 Minimum Volatility Index, while IGLN.L tracks LBMA Gold Price. Their fees differ too: 0.20% for SPMD.L and 0.25% for IGLN.L.
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