UD08.L vs. SGLN.L

Last updated Jun 5, 2026

UD08.L (UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc) and SGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - UD08.L is a Commodities fund tracking the UBS CMCI Ex-Agriculture Ex-Livestock Capped (GBP Hedged), while SGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past year, UD08.L returned 42.97% vs 33.75% for SGLN.L. At a 0.33 correlation, their price movements are largely independent. UD08.L charges 0.34%/yr vs 0.12%/yr for SGLN.L.

Performance

UD08.L vs. SGLN.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc (UD08.L) and iShares Physical Gold ETC (SGLN.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UD08.L achieves a 24.99% return, which is significantly higher than SGLN.L's 3.89% return.

UD08.L

• 1D: -0.63%
• 1M: 0.19%
• YTD: 24.99%
• 6M: 27.45%
• 1Y: 42.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SGLN.L

• 1D: 0.70%
• 1M: -1.36%
• YTD: 3.89%
• 6M: 5.42%
• 1Y: 33.75%
• 3Y*: 28.17%
• 5Y*: 20.12%
• 10Y*: 14.27%

*Multi-year figures are annualized to reflect compound growth (CAGR)

UD08.L vs. SGLN.L - Yearly Performance Comparison

	2026 (YTD)	2025
UD08.L UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc	24.99%	14.80%
SGLN.L iShares Physical Gold ETC	3.89%	45.90%

Correlation

The correlation between UD08.L and SGLN.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (All Time) Calculated using the full available price history since Jan 14, 2025	0.33

Return for Risk

UD08.L vs. SGLN.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UD08.L

UD08.L Risk / Return Rank: 90
UD08.L Sharpe Ratio Rank: 90
UD08.L Sortino Ratio Rank: 87
UD08.L Omega Ratio Rank: 90
UD08.L Calmar Ratio Rank: 93
UD08.L Martin Ratio Rank: 90

SGLN.L

SGLN.L Risk / Return Rank: 40
SGLN.L Sharpe Ratio Rank: 42
SGLN.L Sortino Ratio Rank: 37
SGLN.L Omega Ratio Rank: 47
SGLN.L Calmar Ratio Rank: 40
SGLN.L Martin Ratio Rank: 34

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

UD08.L vs. SGLN.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc (UD08.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.

	UD08.L	SGLN.L	Difference
Sharpe ratio: Return per unit of total volatility	3.05	1.45	+1.60
Sortino ratio: Return per unit of downside risk	3.87	1.88	+1.98
Omega ratio: Gain probability vs. loss probability	1.57	1.29	+0.28
Calmar ratio: Return relative to maximum drawdown	6.65	1.91	+4.73
Martin ratio: Return relative to average drawdown	20.97	5.05	+15.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UD08.L vs. SGLN.L - Sharpe Ratio Comparison

The current UD08.L Sharpe Ratio is 3.05, which is higher than the SGLN.L Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of UD08.L and SGLN.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UD08.L	SGLN.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.05	1.45	+1.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.23	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.65	0.55	+2.10

Drawdowns

UD08.L vs. SGLN.L - Drawdown Comparison

The maximum UD08.L drawdown since its inception was -6.43%, smaller than the maximum SGLN.L drawdown of -41.71%. Use the drawdown chart below to compare losses from any high point for UD08.L and SGLN.L.

Drawdown Indicators

	UD08.L	SGLN.L	Difference
Max Drawdown Largest peak-to-trough decline	-6.43%	-41.71%	+35.28%
Max Drawdown (1Y) Largest decline over 1 year	-6.43%	-17.57%	+11.14%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.57%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.57%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-21.91%	—
Current Drawdown Current decline from peak	-1.17%	-16.01%	+14.84%
Average Drawdown Average peak-to-trough decline	-1.41%	-14.76%	+13.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	6.67%	-4.63%

Volatility

UD08.L vs. SGLN.L - Volatility Comparison

The current volatility for UBS ETF (IE) CMCI ex-Agriculture SF UCITS ETF (hedged to GBP) A-acc (UD08.L) is 2.74%, while iShares Physical Gold ETC (SGLN.L) has a volatility of 5.08%. This indicates that UD08.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.

Volatility by Period

	UD08.L	SGLN.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.74%	5.08%	-2.34%
Volatility (6M) Calculated over the trailing 6-month period	11.75%	20.08%	-8.33%
Volatility (1Y) Calculated over the trailing 1-year period	14.02%	23.19%	-9.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.96%	16.30%	-1.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.96%	15.78%	-0.82%

UD08.L vs. SGLN.L - Expense Ratio Comparison

UD08.L has a 0.34% expense ratio, which is higher than SGLN.L's 0.12% expense ratio.

Dividends

UD08.L vs. SGLN.L - Dividend Comparison

Neither UD08.L nor SGLN.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both UD08.L and SGLN.L in my portfolio?

UD08.L and SGLN.L have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UD08.L or SGLN.L?

On fees, SGLN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UD08.L or SGLN.L?

SGLN.L is cheaper with a 0.12% expense ratio, compared with 0.34% for UD08.L.

What is the main difference between UD08.L and SGLN.L?

UD08.L is categorized as Commodities, while SGLN.L is Gold. UD08.L tracks UBS CMCI Ex-Agriculture Ex-Livestock Capped (GBP Hedged), while SGLN.L tracks LBMA Gold Price. They also come from different issuers: UBS and iShares. Their fees differ too: 0.34% for UD08.L and 0.12% for SGLN.L.