XGDU.L vs. IAUP.L
XGDU.L (Xtrackers IE Physical Gold ETC Securities) and IAUP.L (iShares Gold Producers UCITS ETF USD Acc) are both Gold funds - XGDU.L tracks the Gold while IAUP.L tracks the S&P Commodity Producers Gold Index. Both are passively managed. Over the past 5 years, XGDU.L returned 17.32%/yr vs 17.82%/yr for IAUP.L. A 0.78 correlation means they provide meaningful diversification when combined. XGDU.L charges 0.12%/yr vs 0.55%/yr for IAUP.L.
Performance
XGDU.L vs. IAUP.L - Performance Comparison
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Returns By Period
In the year-to-date period, XGDU.L achieves a -6.05% return, which is significantly higher than IAUP.L's -13.19% return.
XGDU.L
- 1D
- -0.88%
- 1M
- -7.01%
- 6M
- -12.45%
- YTD
- -6.05%
- 1Y
- 21.29%
- 3Y*
- 27.23%
- 5Y*
- 17.32%
- 10Y*
- —
IAUP.L
- 1D
- -2.74%
- 1M
- -14.44%
- 6M
- -22.89%
- YTD
- -13.19%
- 1Y
- 45.20%
- 3Y*
- 33.84%
- 5Y*
- 17.82%
- 10Y*
- 10.57%
XGDU.L vs. IAUP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XGDU.L Xtrackers IE Physical Gold ETC Securities | -6.05% | 64.73% | 26.19% | 13.45% | -0.09% | -4.08% | 10.70% |
IAUP.L iShares Gold Producers UCITS ETF USD Acc | -13.19% | 153.99% | 11.49% | 9.43% | -11.06% | -10.31% | 21.26% |
Correlation
The correlation between XGDU.L and IAUP.L is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Apr 22, 2020 | 0.78 |
The correlation between XGDU.L and IAUP.L has been stable across timeframes, ranging from 0.78 to 0.83 - a consistent structural relationship.
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Return for Risk
XGDU.L vs. IAUP.L — Risk / Return Rank
XGDU.L
IAUP.L
XGDU.L vs. IAUP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers IE Physical Gold ETC Securities (XGDU.L) and iShares Gold Producers UCITS ETF USD Acc (IAUP.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.
| XGDU.L | IAUP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.18 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | 1.24 | -0.37 |
| Martin ratioReturn relative to average drawdown | 2.11 | 2.94 | -0.83 |
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Drawdowns
XGDU.L vs. IAUP.L - Drawdown Comparison
The maximum XGDU.L drawdown since its inception was -24.55%, smaller than the maximum IAUP.L drawdown of -79.88%. Use the drawdown chart below to compare losses from any high point for XGDU.L and IAUP.L.
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Drawdown Indicators
| XGDU.L | IAUP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.55% | -79.88% | +55.33% |
Max Drawdown (1Y)Largest decline over 1 year | -24.55% | -36.39% | +11.84% |
Max Drawdown (3Y)Largest decline over 3 years | -24.55% | -36.39% | +11.84% |
Max Drawdown (5Y)Largest decline over 5 years | -24.55% | -44.90% | +20.35% |
Max Drawdown (10Y)Largest decline over 10 years | — | -51.26% | — |
Current DrawdownCurrent decline from peak | -23.78% | -35.11% | +11.33% |
Average DrawdownAverage peak-to-trough decline | -7.45% | -48.57% | +41.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.06% | 15.33% | -5.27% |
Volatility
XGDU.L vs. IAUP.L - Volatility Comparison
The current volatility for Xtrackers IE Physical Gold ETC Securities (XGDU.L) is 7.58%, while iShares Gold Producers UCITS ETF USD Acc (IAUP.L) has a volatility of 15.38%. This indicates that XGDU.L experiences smaller price fluctuations and is considered to be less risky than IAUP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XGDU.L | IAUP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.58% | 15.38% | -7.80% |
Volatility (6M)Calculated over the trailing 6-month period | 23.13% | 38.05% | -14.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.47% | 46.86% | -20.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.73% | 36.26% | -18.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.46% | 34.92% | -17.46% |
XGDU.L vs. IAUP.L - Expense Ratio Comparison
XGDU.L has a 0.12% expense ratio, which is lower than IAUP.L's 0.55% expense ratio.
Dividends
XGDU.L vs. IAUP.L - Dividend Comparison
Neither XGDU.L nor IAUP.L has paid dividends to shareholders.
Frequently Asked Questions
XGDU.L and IAUP.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XGDU.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XGDU.L is cheaper with a 0.12% expense ratio, compared with 0.55% for IAUP.L.
XGDU.L tracks Gold, while IAUP.L tracks S&P Commodity Producers Gold Index. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.12% for XGDU.L and 0.55% for IAUP.L.
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