VFEM.L vs. SGLN.L
VFEM.L (Vanguard FTSE Emerging Markets UCITS ETF Distributing) and SGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - VFEM.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while SGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, VFEM.L returned 9.54%/yr vs 13.01%/yr for SGLN.L. At a 0.15 correlation, their price movements are largely independent. VFEM.L charges 0.22%/yr vs 0.12%/yr for SGLN.L.
Performance
VFEM.L vs. SGLN.L - Performance Comparison
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Different Trading Currencies
VFEM.L is traded in GBP, while SGLN.L is traded in GBp. To make them comparable, the SGLN.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, VFEM.L achieves a 10.41% return, which is significantly higher than SGLN.L's -1.83% return. Over the past 10 years, VFEM.L has underperformed SGLN.L with an annualized return of 9.54%, while SGLN.L has yielded a comparatively higher 13.01% annualized return.
VFEM.L
- 1D
- 1.96%
- 1M
- -0.07%
- YTD
- 10.41%
- 6M
- 11.41%
- 1Y
- 25.82%
- 3Y*
- 14.24%
- 5Y*
- 5.97%
- 10Y*
- 9.54%
SGLN.L
- 1D
- 2.90%
- 1M
- -9.40%
- YTD
- -1.83%
- 6M
- -1.90%
- 1Y
- 25.94%
- 3Y*
- 26.65%
- 5Y*
- 18.64%
- 10Y*
- 13.01%
VFEM.L vs. SGLN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFEM.L Vanguard FTSE Emerging Markets UCITS ETF Distributing | 10.41% | 16.90% | 14.50% | 1.36% | -7.39% | 0.09% | 11.19% | 15.14% | -7.60% | 19.93% |
SGLN.L iShares Physical Gold ETC | -1.83% | 53.66% | 28.20% | 7.24% | 11.84% | -2.82% | 19.93% | 14.63% | 4.36% | 1.68% |
Correlation
The correlation between VFEM.L and SGLN.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since May 22, 2012 | 0.15 |
The correlation between VFEM.L and SGLN.L shifts across timeframes, from 0.14 (5 years) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VFEM.L vs. SGLN.L — Risk / Return Rank
VFEM.L
SGLN.L
VFEM.L vs. SGLN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Emerging Markets UCITS ETF Distributing (VFEM.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.
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.
| VFEM.L | SGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.22 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.88 | 1.13 | +1.75 |
| Martin ratioReturn relative to average drawdown | 9.32 | 3.51 | +5.81 |
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Drawdowns
VFEM.L vs. SGLN.L - Drawdown Comparison
The maximum VFEM.L drawdown since its inception was -32.13%, smaller than the maximum SGLN.L drawdown of -53.23%. Use the drawdown chart below to compare losses from any high point for VFEM.L and SGLN.L.
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Drawdown Indicators
| VFEM.L | SGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.13% | -53.23% | +21.10% |
Max Drawdown (1Y)Largest decline over 1 year | -8.92% | -22.87% | +13.95% |
Max Drawdown (3Y)Largest decline over 3 years | -14.68% | -22.87% | +8.19% |
Max Drawdown (5Y)Largest decline over 5 years | -19.58% | -22.87% | +3.29% |
Max Drawdown (10Y)Largest decline over 10 years | -25.90% | -22.87% | -3.03% |
Current DrawdownCurrent decline from peak | -2.67% | -20.64% | +17.97% |
Average DrawdownAverage peak-to-trough decline | -8.58% | -24.70% | +16.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.76% | 7.37% | -4.61% |
Volatility
VFEM.L vs. SGLN.L - Volatility Comparison
The current volatility for Vanguard FTSE Emerging Markets UCITS ETF Distributing (VFEM.L) is 5.13%, while iShares Physical Gold ETC (SGLN.L) has a volatility of 6.68%. This indicates that VFEM.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
| VFEM.L | SGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.13% | 6.68% | -1.55% |
Volatility (6M)Calculated over the trailing 6-month period | 11.41% | 20.78% | -9.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.09% | 23.82% | -9.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.51% | 21.84% | -6.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.49% | 18.84% | -1.35% |
VFEM.L vs. SGLN.L - Expense Ratio Comparison
VFEM.L has a 0.22% expense ratio, which is higher than SGLN.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
VFEM.L vs. SGLN.L - Dividend Comparison
VFEM.L's dividend yield for the trailing twelve months is around 2.06%, while SGLN.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SGLN.L iShares Physical Gold ETC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VFEM.L Vanguard FTSE Emerging Markets UCITS ETF Distributing | 2.06% | 2.36% | 2.31% | 2.63% | 3.28% | 2.26% | 1.94% | 2.43% | 2.73% | 2.22% | 2.22% | 2.82% |
Frequently Asked Questions
VFEM.L and SGLN.L have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
SGLN.L is cheaper with a 0.12% expense ratio, compared with 0.22% for VFEM.L.
VFEM.L is categorized as Emerging Markets Equities, while SGLN.L is Gold. VFEM.L tracks MSCI EM NR USD, while SGLN.L tracks LBMA Gold Price. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.22% for VFEM.L and 0.12% for SGLN.L.
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