XGLS.L vs. GOLB.L

Last updated Jun 5, 2026

XGLS.L (Xtrackers Physical Gold GBP Hedged ETC) and GOLB.L (Market Access NYSE Arca Gold Bugs UCITS ETF) are both Precious Metals funds - XGLS.L tracks the Gold (GBP Hedged) while GOLB.L tracks the EMIX Global Mining Global Gold TR USD. Both are passively managed. Over the past 10 years, XGLS.L returned 11.70%/yr vs 16.54%/yr for GOLB.L. A 0.59 correlation means they provide meaningful diversification when combined. XGLS.L charges 0.69%/yr vs 0.65%/yr for GOLB.L.

Performance

XGLS.L vs. GOLB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers Physical Gold GBP Hedged ETC (XGLS.L) and Market Access NYSE Arca Gold Bugs UCITS ETF (GOLB.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XGLS.L is traded in GBp, while GOLB.L is traded in GBP. To make them comparable, the GOLB.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, XGLS.L achieves a 2.92% return, which is significantly lower than GOLB.L's 5.89% return. Over the past 10 years, XGLS.L has underperformed GOLB.L with an annualized return of 11.70%, while GOLB.L has yielded a comparatively higher 16.54% annualized return.

XGLS.L

• 1D: 0.61%
• 1M: -2.45%
• YTD: 2.92%
• 6M: 5.12%
• 1Y: 30.57%
• 3Y*: 29.95%
• 5Y*: 17.04%
• 10Y*: 11.70%

GOLB.L

• 1D: 1.00%
• 1M: 1.28%
• YTD: 5.89%
• 6M: 10.36%
• 1Y: 74.70%
• 3Y*: 40.72%
• 5Y*: 20.34%
• 10Y*: 16.54%

*Multi-year figures are annualized to reflect compound growth (CAGR)

XGLS.L vs. GOLB.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XGLS.L Xtrackers Physical Gold GBP Hedged ETC	2.92%	63.07%	24.85%	11.63%	-1.63%	-4.91%	22.11%	15.69%	-3.62%	9.65%
GOLB.L Market Access NYSE Arca Gold Bugs UCITS ETF	5.89%	138.45%	14.05%	0.34%	1.34%	-14.65%	84.95%	0.00%	0.00%	0.00%

Correlation

The correlation between XGLS.L and GOLB.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	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since May 5, 2011	0.59

The correlation between XGLS.L and GOLB.L shifts across timeframes, from 0.57 (10 years) to 0.78 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

XGLS.L vs. GOLB.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XGLS.L

XGLS.L Risk / Return Rank: 33
XGLS.L Sharpe Ratio Rank: 35
XGLS.L Sortino Ratio Rank: 31
XGLS.L Omega Ratio Rank: 36
XGLS.L Calmar Ratio Rank: 34
XGLS.L Martin Ratio Rank: 31

GOLB.L

GOLB.L Risk / Return Rank: 48
GOLB.L Sharpe Ratio Rank: 53
GOLB.L Sortino Ratio Rank: 44
GOLB.L Omega Ratio Rank: 46
GOLB.L Calmar Ratio Rank: 54
GOLB.L Martin Ratio Rank: 42

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XGLS.L vs. GOLB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Physical Gold GBP Hedged ETC (XGLS.L) and Market Access NYSE Arca Gold Bugs UCITS ETF (GOLB.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.

	XGLS.L	GOLB.L	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.78	-0.55
Sortino ratio: Return per unit of downside risk	1.64	2.19	-0.55
Omega ratio: Gain probability vs. loss probability	1.24	1.29	-0.05
Calmar ratio: Return relative to maximum drawdown	1.67	2.64	-0.97
Martin ratio: Return relative to average drawdown	4.36	6.72	-2.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XGLS.L vs. GOLB.L - Sharpe Ratio Comparison

The current XGLS.L Sharpe Ratio is 1.23, which is lower than the GOLB.L Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of XGLS.L and GOLB.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XGLS.L	GOLB.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	1.78	-0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.99	0.60	+0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.48	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.15	+0.21

Drawdowns

XGLS.L vs. GOLB.L - Drawdown Comparison

The maximum XGLS.L drawdown since its inception was -46.55%, smaller than the maximum GOLB.L drawdown of -84.29%. Use the drawdown chart below to compare losses from any high point for XGLS.L and GOLB.L.

Drawdown Indicators

	XGLS.L	GOLB.L	Difference
Max Drawdown Largest peak-to-trough decline	-46.55%	-84.29%	+37.74%
Max Drawdown (1Y) Largest decline over 1 year	-18.19%	-28.11%	+9.92%
Max Drawdown (3Y) Largest decline over 3 years	-18.19%	-28.11%	+9.92%
Max Drawdown (5Y) Largest decline over 5 years	-21.88%	-37.60%	+15.72%
Max Drawdown (10Y) Largest decline over 10 years	-22.99%	-44.07%	+21.08%
Current Drawdown Current decline from peak	-16.29%	-23.56%	+7.27%
Average Drawdown Average peak-to-trough decline	-23.37%	-49.39%	+26.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.99%	11.08%	-4.09%

Volatility

XGLS.L vs. GOLB.L - Volatility Comparison

The current volatility for Xtrackers Physical Gold GBP Hedged ETC (XGLS.L) is 6.37%, while Market Access NYSE Arca Gold Bugs UCITS ETF (GOLB.L) has a volatility of 14.80%. This indicates that XGLS.L experiences smaller price fluctuations and is considered to be less risky than GOLB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XGLS.L	GOLB.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.37%	14.80%	-8.43%
Volatility (6M) Calculated over the trailing 6-month period	21.81%	33.10%	-11.29%
Volatility (1Y) Calculated over the trailing 1-year period	24.78%	41.89%	-17.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.25%	33.81%	-16.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.52%	34.39%	-18.87%

XGLS.L vs. GOLB.L - Expense Ratio Comparison

XGLS.L has a 0.69% expense ratio, which is higher than GOLB.L's 0.65% expense ratio.

Dividends

XGLS.L vs. GOLB.L - Dividend Comparison

Neither XGLS.L nor GOLB.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XGLS.L and GOLB.L in my portfolio?

XGLS.L and GOLB.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.

Which ETF is better, XGLS.L or GOLB.L?

On fees, GOLB.L is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XGLS.L or GOLB.L?

GOLB.L is cheaper with a 0.65% expense ratio, compared with 0.69% for XGLS.L.

What is the main difference between XGLS.L and GOLB.L?

XGLS.L tracks Gold (GBP Hedged), while GOLB.L tracks EMIX Global Mining Global Gold TR USD. They also come from different issuers: Xtrackers and China Post Global. Their fees differ too: 0.69% for XGLS.L and 0.65% for GOLB.L.