XCEM vs. SGOL
XCEM (Columbia EM Core ex-China ETF) and SGOL (abrdn Physical Gold Shares ETF) are both exchange-traded funds - XCEM is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index, while SGOL is a Gold fund tracking the LBMA Gold Price PM ($/ozt). Both are passively managed. Over the past 10 years, XCEM returned 12.13%/yr vs 12.74%/yr for SGOL. At a 0.19 correlation, their price movements are largely independent. XCEM charges 0.16%/yr vs 0.17%/yr for SGOL.
Performance
XCEM vs. SGOL - Performance Comparison
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Returns By Period
In the year-to-date period, XCEM achieves a 30.29% return, which is significantly higher than SGOL's 0.32% return. Over the past 10 years, XCEM has underperformed SGOL with an annualized return of 12.13%, while SGOL has yielded a comparatively higher 12.74% annualized return.
XCEM
- 1D
- 2.17%
- 1M
- -1.32%
- YTD
- 30.29%
- 6M
- 35.41%
- 1Y
- 58.25%
- 3Y*
- 23.31%
- 5Y*
- 10.94%
- 10Y*
- 12.13%
SGOL
- 1D
- 0.22%
- 1M
- -8.40%
- YTD
- 0.32%
- 6M
- 3.15%
- 1Y
- 30.41%
- 3Y*
- 29.97%
- 5Y*
- 17.81%
- 10Y*
- 12.74%
XCEM vs. SGOL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XCEM Columbia EM Core ex-China ETF | 30.29% | 34.05% | 0.42% | 19.96% | -17.59% | 7.87% | 9.47% | 19.74% | -11.75% | 34.78% |
SGOL abrdn Physical Gold Shares ETF | 0.32% | 63.99% | 26.90% | 12.99% | -0.51% | -3.94% | 25.03% | 18.21% | -1.94% | 12.86% |
Correlation
The correlation between XCEM and SGOL is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Sep 3, 2015 | 0.19 |
The correlation between XCEM and SGOL shifts across timeframes, from 0.19 (all time) to 0.33 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
XCEM vs. SGOL — Risk / Return Rank
XCEM
SGOL
XCEM vs. SGOL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia EM Core ex-China ETF (XCEM) and abrdn Physical Gold Shares ETF (SGOL). 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.
| XCEM | SGOL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.49 | ||
| Sortino ratioReturn per unit of downside risk | +1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.23 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 4.05 | 1.53 | +2.52 |
| Martin ratioReturn relative to average drawdown | 16.03 | 3.82 | +12.21 |
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
| XCEM | SGOL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.64 | 1.15 | +1.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.61 | 1.00 | -0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | 0.80 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.54 | +0.06 |
Drawdowns
XCEM vs. SGOL - Drawdown Comparison
The maximum XCEM drawdown since its inception was -41.24%, smaller than the maximum SGOL drawdown of -45.51%. Use the drawdown chart below to compare losses from any high point for XCEM and SGOL.
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Drawdown Indicators
| XCEM | SGOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.24% | -45.51% | +4.27% |
Max Drawdown (1Y)Largest decline over 1 year | -14.46% | -20.02% | +5.56% |
Max Drawdown (3Y)Largest decline over 3 years | -18.92% | -20.02% | +1.10% |
Max Drawdown (5Y)Largest decline over 5 years | -29.65% | -20.92% | -8.73% |
Max Drawdown (10Y)Largest decline over 10 years | -41.24% | -21.56% | -19.68% |
Current DrawdownCurrent decline from peak | -6.98% | -19.84% | +12.86% |
Average DrawdownAverage peak-to-trough decline | -8.59% | -18.41% | +9.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.64% | 7.98% | -4.34% |
Volatility
XCEM vs. SGOL - Volatility Comparison
Columbia EM Core ex-China ETF (XCEM) has a higher volatility of 11.63% compared to abrdn Physical Gold Shares ETF (SGOL) at 5.62%. This indicates that XCEM's price experiences larger fluctuations and is considered to be riskier than SGOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XCEM | SGOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.63% | 5.62% | +6.01% |
Volatility (6M)Calculated over the trailing 6-month period | 20.28% | 23.24% | -2.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.22% | 26.58% | -4.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.05% | 17.96% | +0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.83% | 15.95% | +3.88% |
XCEM vs. SGOL - Expense Ratio Comparison
XCEM has a 0.16% expense ratio, which is lower than SGOL's 0.17% 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
XCEM vs. SGOL - Dividend Comparison
XCEM's dividend yield for the trailing twelve months is around 2.50%, while SGOL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SGOL abrdn Physical Gold Shares ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XCEM Columbia EM Core ex-China ETF | 2.50% | 3.25% | 2.76% | 1.22% | 2.42% | 1.94% | 1.63% | 2.11% | 2.70% | 9.56% | 1.24% | 2.63% |
Frequently Asked Questions
XCEM and SGOL have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XCEM has higher volatility (11.63%) compared to SGOL (5.62%). In terms of maximum drawdown, XCEM dropped -41.24% vs SGOL's -45.51%.
On 10-year performance, SGOL leads with 12.74% vs 12.13% for XCEM. On fees, XCEM is cheaper at 0.16% per year. On volatility, SGOL has been the lower-risk option at 5.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SGOL has performed better with a 12.74% return vs 12.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XCEM is cheaper with a 0.16% expense ratio, compared with 0.17% for SGOL.
XCEM has the higher dividend yield at 2.50%, compared with 0.00% for SGOL.
XCEM is categorized as Emerging Markets Equities, while SGOL is Gold. XCEM tracks MSCI Emerging Markets ex China Index, while SGOL tracks LBMA Gold Price PM ($/ozt). They also come from different issuers: Ameriprise Financial and abrdn. Their fees differ too: 0.16% for XCEM and 0.17% for SGOL.
XCEM currently has the higher Sharpe Ratio (2.64 vs 1.15), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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