SPXP.L vs. SGLN.L
SPXP.L (Invesco S&P 500 UCITS ETF) and SGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - SPXP.L is a S&P 500 fund tracking the S&P 500 Index, while SGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, SPXP.L returned -26.75%/yr vs 13.68%/yr for SGLN.L. At a 0.05 correlation, their price movements are largely independent. SPXP.L charges 0.05%/yr vs 0.12%/yr for SGLN.L.
Performance
SPXP.L vs. SGLN.L - Performance Comparison
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Returns By Period
In the year-to-date period, SPXP.L achieves a 9.42% return, which is significantly higher than SGLN.L's 1.38% return. Over the past 10 years, SPXP.L has underperformed SGLN.L with an annualized return of -26.75%, while SGLN.L has yielded a comparatively higher 13.68% annualized return.
SPXP.L
- 1D
- -0.45%
- 1M
- 2.91%
- YTD
- 9.42%
- 6M
- 9.07%
- 1Y
- -98.73%
- 3Y*
- -74.32%
- 5Y*
- -54.31%
- 10Y*
- -26.75%
SGLN.L
- 1D
- -0.06%
- 1M
- -6.00%
- YTD
- 1.38%
- 6M
- 3.07%
- 1Y
- 31.70%
- 3Y*
- 27.57%
- 5Y*
- 19.24%
- 10Y*
- 13.68%
SPXP.L vs. SGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPXP.L Invesco S&P 500 UCITS ETF | 9.42% | -98.90% | 27.58% | 20.06% | -8.79% | 31.26% | 13.90% | 26.76% | 0.26% | 10.77% |
SGLN.L iShares Physical Gold ETC | 1.38% | 53.66% | 28.20% | 7.24% | 11.84% | -2.82% | 19.93% | 14.63% | 4.36% | 1.68% |
Correlation
The correlation between SPXP.L and SGLN.L is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2014 | 0.05 |
The correlation between SPXP.L and SGLN.L shifts across timeframes, from 0.01 (5 years) to 0.14 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPXP.L vs. SGLN.L — Risk / Return Rank
SPXP.L
SGLN.L
SPXP.L vs. SGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 UCITS ETF (SPXP.L) and iShares Physical Gold ETC (SGLN.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.
| SPXP.L | SGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.35 | ||
| Sortino ratioReturn per unit of downside risk | -2.52 | ||
| Omega ratioGain probability vs. loss probability | 0.51 | 1.27 | -0.76 |
| Calmar ratioReturn relative to maximum drawdown | -1.00 | 1.75 | -2.75 |
| Martin ratioReturn relative to average drawdown | -1.35 | 4.61 | -5.95 |
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
| SPXP.L | SGLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.99 | 1.35 | -2.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -1.17 | 0.89 | -2.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.76 | 0.73 | -1.49 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.65 | 0.25 | -0.90 |
Drawdowns
SPXP.L vs. SGLN.L - Drawdown Comparison
The maximum SPXP.L drawdown since its inception was -99.07%, which is greater than SGLN.L's maximum drawdown of -53.23%. Use the drawdown chart below to compare losses from any high point for SPXP.L and SGLN.L.
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Drawdown Indicators
| SPXP.L | SGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.07% | -53.23% | -45.84% |
Max Drawdown (1Y)Largest decline over 1 year | -99.07% | -18.04% | -81.03% |
Max Drawdown (3Y)Largest decline over 3 years | -99.07% | -20.33% | -78.74% |
Max Drawdown (5Y)Largest decline over 5 years | -99.07% | -20.33% | -78.74% |
Max Drawdown (10Y)Largest decline over 10 years | -99.07% | -22.30% | -76.77% |
Current DrawdownCurrent decline from peak | -98.92% | -18.04% | -80.88% |
Average DrawdownAverage peak-to-trough decline | -7.87% | -24.71% | +16.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 73.53% | 6.86% | +66.67% |
Volatility
SPXP.L vs. SGLN.L - Volatility Comparison
The current volatility for Invesco S&P 500 UCITS ETF (SPXP.L) is 2.72%, while iShares Physical Gold ETC (SGLN.L) has a volatility of 4.84%. This indicates that SPXP.L experiences smaller price fluctuations and is considered to be less risky than SGLN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPXP.L | SGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.72% | 4.84% | -2.12% |
Volatility (6M)Calculated over the trailing 6-month period | 7.23% | 20.20% | -12.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 99.47% | 23.35% | +76.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.54% | 21.74% | +24.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.96% | 18.80% | +16.16% |
SPXP.L vs. SGLN.L - Expense Ratio Comparison
SPXP.L has a 0.05% expense ratio, which is lower than SGLN.L's 0.12% 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
SPXP.L vs. SGLN.L - Dividend Comparison
Neither SPXP.L nor SGLN.L has paid dividends to shareholders.
Frequently Asked Questions
SPXP.L and SGLN.L have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPXP.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPXP.L is cheaper with a 0.05% expense ratio, compared with 0.12% for SGLN.L.
SPXP.L is categorized as S&P 500, while SGLN.L is Gold. SPXP.L tracks S&P 500 Index, while SGLN.L tracks LBMA Gold Price. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.05% for SPXP.L and 0.12% for SGLN.L.
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