XGDG.L vs. SGLD.L
XGDG.L (Xtrackers IE Physical Gold GBP Hedged ETC Securities) and SGLD.L (Invesco Physical Gold ETC) are both Gold funds - XGDG.L tracks the Gold (GBP Hedged) while SGLD.L tracks the LBMA Gold Price PM. Both are passively managed. Over the past 5 years, XGDG.L returned 16.01%/yr vs 18.75%/yr for SGLD.L. Their correlation of 0.80 suggests significant overlap in exposure. XGDG.L charges 0.28%/yr vs 0.12%/yr for SGLD.L.
Performance
XGDG.L vs. SGLD.L - Performance Comparison
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Different Trading Currencies
XGDG.L is traded in GBp, while SGLD.L is traded in USD. To make them comparable, the SGLD.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, XGDG.L achieves a -7.37% return, which is significantly lower than SGLD.L's -4.73% return.
XGDG.L
- 1D
- 0.43%
- 1M
- -10.81%
- YTD
- -7.37%
- 6M
- -11.17%
- 1Y
- 19.38%
- 3Y*
- 26.27%
- 5Y*
- 16.01%
- 10Y*
- —
SGLD.L
- 1D
- 0.15%
- 1M
- -9.03%
- YTD
- -4.73%
- 6M
- -8.41%
- 1Y
- 25.15%
- 3Y*
- 26.09%
- 5Y*
- 18.75%
- 10Y*
- 11.60%
XGDG.L vs. SGLD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XGDG.L Xtrackers IE Physical Gold GBP Hedged ETC Securities | -7.37% | 63.15% | 25.16% | 11.50% | -1.77% | -5.14% | 12.54% |
SGLD.L Invesco Physical Gold ETC | -4.73% | 53.13% | 28.43% | 7.70% | 11.80% | -3.17% | -3.15% |
Correlation
The correlation between XGDG.L and SGLD.L is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since May 21, 2020 | 0.80 |
The correlation between XGDG.L and SGLD.L shifts across timeframes, from 0.80 (all time) to 0.94 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XGDG.L vs. SGLD.L — Risk / Return Rank
XGDG.L
SGLD.L
XGDG.L vs. SGLD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers IE Physical Gold GBP Hedged ETC Securities (XGDG.L) and Invesco Physical Gold ETC (SGLD.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.
| XGDG.L | SGLD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.20 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.77 | 1.08 | -0.31 |
| Martin ratioReturn relative to average drawdown | 2.23 | 3.08 | -0.85 |
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Drawdowns
XGDG.L vs. SGLD.L - Drawdown Comparison
The maximum XGDG.L drawdown since its inception was -25.05%, smaller than the maximum SGLD.L drawdown of -41.62%. Use the drawdown chart below to compare losses from any high point for XGDG.L and SGLD.L.
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Drawdown Indicators
| XGDG.L | SGLD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.05% | -41.62% | +16.57% |
Max Drawdown (1Y)Largest decline over 1 year | -25.05% | -23.08% | -1.97% |
Max Drawdown (3Y)Largest decline over 3 years | -25.05% | -23.08% | -1.97% |
Max Drawdown (5Y)Largest decline over 5 years | -25.05% | -23.08% | -1.97% |
Max Drawdown (10Y)Largest decline over 10 years | — | -23.08% | — |
Current DrawdownCurrent decline from peak | -24.73% | -22.88% | -1.85% |
Average DrawdownAverage peak-to-trough decline | -8.36% | -13.52% | +5.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.67% | 8.14% | +0.53% |
Volatility
XGDG.L vs. SGLD.L - Volatility Comparison
Xtrackers IE Physical Gold GBP Hedged ETC Securities (XGDG.L) and Invesco Physical Gold ETC (SGLD.L) have volatilities of 9.05% and 8.89%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XGDG.L | SGLD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.05% | 8.89% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 23.60% | 22.44% | +1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.38% | 25.18% | +1.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.67% | 17.03% | +0.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.66% | 15.84% | +1.82% |
XGDG.L vs. SGLD.L - Expense Ratio Comparison
XGDG.L has a 0.28% expense ratio, which is higher than SGLD.L's 0.12% expense ratio.
Dividends
XGDG.L vs. SGLD.L - Dividend Comparison
Neither XGDG.L nor SGLD.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, XGDG.L and SGLD.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, SGLD.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGLD.L is cheaper with a 0.12% expense ratio, compared with 0.28% for XGDG.L.
XGDG.L tracks Gold (GBP Hedged), while SGLD.L tracks LBMA Gold Price PM. They also come from different issuers: Xtrackers and Invesco. Their fees differ too: 0.28% for XGDG.L and 0.12% for SGLD.L.
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