XGLS.L vs. SPGP.L
XGLS.L (Xtrackers Physical Gold GBP Hedged ETC) and SPGP.L (iShares Gold Producers UCITS ETF) are both Precious Metals funds - XGLS.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 10 years, XGLS.L returned 11.70%/yr vs 14.96%/yr for SPGP.L. A 0.72 correlation means they provide meaningful diversification when combined. XGLS.L charges 0.69%/yr vs 0.55%/yr for SPGP.L.
Performance
XGLS.L vs. SPGP.L - Performance Comparison
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Returns By Period
In the year-to-date period, XGLS.L achieves a 2.92% return, which is significantly higher than SPGP.L's 1.44% return. Over the past 10 years, XGLS.L has underperformed SPGP.L with an annualized return of 11.70%, while SPGP.L has yielded a comparatively higher 14.96% 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%
SPGP.L
- 1D
- 0.61%
- 1M
- 0.17%
- YTD
- 1.44%
- 6M
- 6.67%
- 1Y
- 64.79%
- 3Y*
- 38.31%
- 5Y*
- 19.91%
- 10Y*
- 14.96%
XGLS.L vs. SPGP.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% |
SPGP.L iShares Gold Producers UCITS ETF | 1.44% | 137.41% | 12.81% | 3.72% | -0.45% | -9.15% | 19.43% | 41.00% | -4.37% | -2.80% |
Correlation
The correlation between XGLS.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 | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2011 | 0.72 |
The correlation between XGLS.L and SPGP.L has been stable across timeframes, ranging from 0.72 to 0.78 - a consistent structural relationship.
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Return for Risk
XGLS.L vs. SPGP.L — Risk / Return Rank
XGLS.L
SPGP.L
XGLS.L vs. SPGP.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 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.
| XGLS.L | SPGP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.27 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.67 | 2.33 | -0.66 |
| Martin ratioReturn relative to average drawdown | 4.36 | 5.97 | -1.61 |
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
| XGLS.L | SPGP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.23 | 1.60 | -0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.99 | 0.63 | +0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | 0.46 | +0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.12 | +0.24 |
Drawdowns
XGLS.L vs. SPGP.L - Drawdown Comparison
The maximum XGLS.L drawdown since its inception was -46.55%, smaller than the maximum SPGP.L drawdown of -79.54%. Use the drawdown chart below to compare losses from any high point for XGLS.L and SPGP.L.
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Drawdown Indicators
| XGLS.L | SPGP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.55% | -79.54% | +32.99% |
Max Drawdown (1Y)Largest decline over 1 year | -18.19% | -27.66% | +9.47% |
Max Drawdown (3Y)Largest decline over 3 years | -18.19% | -27.66% | +9.47% |
Max Drawdown (5Y)Largest decline over 5 years | -21.88% | -34.81% | +12.93% |
Max Drawdown (10Y)Largest decline over 10 years | -22.99% | -43.71% | +20.72% |
Current DrawdownCurrent decline from peak | -16.29% | -24.04% | +7.75% |
Average DrawdownAverage peak-to-trough decline | -23.37% | -42.31% | +18.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.99% | 10.81% | -3.82% |
Volatility
XGLS.L vs. SPGP.L - Volatility Comparison
The current volatility for Xtrackers Physical Gold GBP Hedged ETC (XGLS.L) is 6.37%, while iShares Gold Producers UCITS ETF (SPGP.L) has a volatility of 13.10%. This indicates that XGLS.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
| XGLS.L | SPGP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.37% | 13.10% | -6.73% |
Volatility (6M)Calculated over the trailing 6-month period | 21.81% | 32.23% | -10.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.78% | 40.28% | -15.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.25% | 31.56% | -14.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.52% | 32.31% | -16.79% |
XGLS.L vs. SPGP.L - Expense Ratio Comparison
XGLS.L has a 0.69% expense ratio, which is higher than SPGP.L's 0.55% expense ratio.
Dividends
XGLS.L vs. SPGP.L - Dividend Comparison
Neither XGLS.L nor SPGP.L has paid dividends to shareholders.
Frequently Asked Questions
XGLS.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, SPGP.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPGP.L is cheaper with a 0.55% expense ratio, compared with 0.69% for XGLS.L.
XGLS.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: 0.69% for XGLS.L and 0.55% for SPGP.L.
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