XGDG.L vs. SPGP.L
XGDG.L (Xtrackers IE Physical Gold GBP Hedged ETC Securities) and SPGP.L (iShares Gold Producers UCITS ETF) are both Precious Metals funds - XGDG.L tracks the Gold (GBP Hedged) while SPGP.L tracks the EMIX Global Mining Global Gold TR USD. Both are passively managed. Over the past 5 years, XGDG.L returned 16.88%/yr vs 19.77%/yr for SPGP.L. A 0.75 correlation means they provide meaningful diversification when combined. XGDG.L charges 0.28%/yr vs 0.55%/yr for SPGP.L.
Performance
XGDG.L vs. SPGP.L - Performance Comparison
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Returns By Period
In the year-to-date period, XGDG.L achieves a 2.36% return, which is significantly higher than SPGP.L's 0.82% return.
XGDG.L
- 1D
- -1.44%
- 1M
- -4.35%
- YTD
- 2.36%
- 6M
- 4.37%
- 1Y
- 30.94%
- 3Y*
- 29.69%
- 5Y*
- 16.88%
- 10Y*
- —
SPGP.L
- 1D
- -1.87%
- 1M
- -0.66%
- YTD
- 0.82%
- 6M
- 5.68%
- 1Y
- 64.09%
- 3Y*
- 38.07%
- 5Y*
- 19.77%
- 10Y*
- 15.18%
XGDG.L vs. SPGP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XGDG.L Xtrackers IE Physical Gold GBP Hedged ETC Securities | 2.36% | 63.15% | 25.16% | 11.50% | -1.40% | -5.50% | 6.91% |
SPGP.L iShares Gold Producers UCITS ETF | 0.82% | 137.41% | 12.81% | 3.72% | -0.45% | -9.15% | -7.93% |
Correlation
The correlation between XGDG.L and SPGP.L is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since May 26, 2020 | 0.75 |
The correlation between XGDG.L and SPGP.L has been stable across timeframes, ranging from 0.75 to 0.78 - a consistent structural relationship.
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Return for Risk
XGDG.L vs. SPGP.L — Risk / Return Rank
XGDG.L
SPGP.L
XGDG.L vs. SPGP.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 iShares Gold Producers UCITS ETF (SPGP.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.
| XGDG.L | SPGP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.27 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.66 | 2.31 | -0.65 |
| Martin ratioReturn relative to average drawdown | 4.46 | 5.97 | -1.51 |
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
| XGDG.L | SPGP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 1.58 | -0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.97 | 0.63 | +0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.47 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | 0.12 | +0.75 |
Drawdowns
XGDG.L vs. SPGP.L - Drawdown Comparison
The maximum XGDG.L drawdown since its inception was -23.31%, smaller than the maximum SPGP.L drawdown of -79.54%. Use the drawdown chart below to compare losses from any high point for XGDG.L and SPGP.L.
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Drawdown Indicators
| XGDG.L | SPGP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.31% | -79.54% | +56.23% |
Max Drawdown (1Y)Largest decline over 1 year | -18.55% | -27.66% | +9.11% |
Max Drawdown (3Y)Largest decline over 3 years | -18.55% | -27.66% | +9.11% |
Max Drawdown (5Y)Largest decline over 5 years | -21.90% | -34.81% | +12.91% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.71% | — |
Current DrawdownCurrent decline from peak | -16.82% | -24.50% | +7.68% |
Average DrawdownAverage peak-to-trough decline | -8.23% | -42.31% | +34.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.92% | 10.71% | -3.79% |
Volatility
XGDG.L vs. SPGP.L - Volatility Comparison
The current volatility for Xtrackers IE Physical Gold GBP Hedged ETC Securities (XGDG.L) is 6.36%, while iShares Gold Producers UCITS ETF (SPGP.L) has a volatility of 13.09%. This indicates that XGDG.L experiences smaller price fluctuations and is considered to be less risky than SPGP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XGDG.L | SPGP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.36% | 13.09% | -6.73% |
Volatility (6M)Calculated over the trailing 6-month period | 22.32% | 32.24% | -9.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.25% | 40.30% | -15.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.43% | 31.56% | -14.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.30% | 32.32% | -15.02% |
XGDG.L vs. SPGP.L - Expense Ratio Comparison
XGDG.L has a 0.28% expense ratio, which is lower than SPGP.L's 0.55% expense ratio.
Dividends
XGDG.L vs. SPGP.L - Dividend Comparison
Neither XGDG.L nor SPGP.L has paid dividends to shareholders.
Frequently Asked Questions
XGDG.L and SPGP.L have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XGDG.L is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XGDG.L is cheaper with a 0.28% expense ratio, compared with 0.55% for SPGP.L.
XGDG.L tracks Gold (GBP Hedged), while SPGP.L tracks EMIX Global Mining Global Gold TR USD. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.28% for XGDG.L and 0.55% for SPGP.L.
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