SXRS.DE vs. SGLP.L
SXRS.DE (iShares Diversified Commodity Swap UCITS ETF) and SGLP.L (Invesco Physical Gold A) are both exchange-traded funds - SXRS.DE is a Commodities fund tracking the Bloomberg Commodity, while SGLP.L is a Gold fund tracking the Gold. Both are passively managed. Over the past 5 years, SXRS.DE returned 10.89%/yr vs 18.49%/yr for SGLP.L. At a 0.27 correlation, their price movements are largely independent. SXRS.DE charges 0.19%/yr vs 0.12%/yr for SGLP.L.
Performance
SXRS.DE vs. SGLP.L - Performance Comparison
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Different Trading Currencies
SXRS.DE is traded in EUR, while SGLP.L is traded in GBp. To make them comparable, the SGLP.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, SXRS.DE achieves a 18.88% return, which is significantly higher than SGLP.L's -0.73% return.
SXRS.DE
- 1D
- -1.55%
- 1M
- -7.30%
- YTD
- 18.88%
- 6M
- 22.40%
- 1Y
- 27.91%
- 3Y*
- 10.89%
- 5Y*
- 10.89%
- 10Y*
- —
SGLP.L
- 1D
- 2.77%
- 1M
- -8.83%
- YTD
- -0.73%
- 6M
- -0.27%
- 1Y
- 23.03%
- 3Y*
- 26.26%
- 5Y*
- 18.49%
- 10Y*
- 12.06%
SXRS.DE vs. SGLP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SXRS.DE iShares Diversified Commodity Swap UCITS ETF | 18.88% | 4.68% | 11.06% | -10.49% | 20.61% | 40.00% | -13.38% | 9.88% | -21.55% | 5.80% |
SGLP.L Invesco Physical Gold A | -0.73% | 45.59% | 34.32% | 9.54% | 6.07% | 3.44% | 13.47% | 21.94% | 3.02% | 0.30% |
Correlation
The correlation between SXRS.DE and SGLP.L is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2017 | 0.27 |
The correlation between SXRS.DE and SGLP.L shifts across timeframes, from 0.20 (1 year) to 0.33 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SXRS.DE vs. SGLP.L — Risk / Return Rank
SXRS.DE
SGLP.L
SXRS.DE vs. SGLP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Diversified Commodity Swap UCITS ETF (SXRS.DE) and Invesco Physical Gold A (SGLP.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.
| SXRS.DE | SGLP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.21 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.41 | 1.09 | +2.32 |
| Martin ratioReturn relative to average drawdown | 7.38 | 3.31 | +4.07 |
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Drawdowns
SXRS.DE vs. SGLP.L - Drawdown Comparison
The maximum SXRS.DE drawdown since its inception was -37.23%, smaller than the maximum SGLP.L drawdown of -61.13%. Use the drawdown chart below to compare losses from any high point for SXRS.DE and SGLP.L.
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Drawdown Indicators
| SXRS.DE | SGLP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.23% | -61.13% | +23.90% |
Max Drawdown (1Y)Largest decline over 1 year | -8.74% | -22.00% | +13.26% |
Max Drawdown (3Y)Largest decline over 3 years | -15.96% | -22.00% | +6.04% |
Max Drawdown (5Y)Largest decline over 5 years | -27.58% | -22.00% | -5.58% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.00% | — |
Current DrawdownCurrent decline from peak | -8.74% | -19.84% | +11.10% |
Average DrawdownAverage peak-to-trough decline | -16.43% | -31.47% | +15.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.04% | 7.24% | -3.20% |
Volatility
SXRS.DE vs. SGLP.L - Volatility Comparison
The current volatility for iShares Diversified Commodity Swap UCITS ETF (SXRS.DE) is 5.00%, while Invesco Physical Gold A (SGLP.L) has a volatility of 6.61%. This indicates that SXRS.DE experiences smaller price fluctuations and is considered to be less risky than SGLP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SXRS.DE | SGLP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.00% | 6.61% | -1.61% |
Volatility (6M)Calculated over the trailing 6-month period | 16.89% | 20.72% | -3.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.09% | 23.66% | -4.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.19% | 21.83% | -4.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.60% | 18.02% | -1.42% |
SXRS.DE vs. SGLP.L - Expense Ratio Comparison
SXRS.DE has a 0.19% expense ratio, which is higher than SGLP.L's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SXRS.DE vs. SGLP.L - Dividend Comparison
Neither SXRS.DE nor SGLP.L has paid dividends to shareholders.
Frequently Asked Questions
SXRS.DE and SGLP.L have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGLP.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGLP.L is cheaper with a 0.12% expense ratio, compared with 0.19% for SXRS.DE.
SXRS.DE is categorized as Commodities, while SGLP.L is Gold. SXRS.DE tracks Bloomberg Commodity, while SGLP.L tracks Gold. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.19% for SXRS.DE and 0.12% for SGLP.L.
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