ZGLD.SW vs. IGLD.DE
ZGLD.SW (Swisscanto (CH) Gold ETF EA CHF) and IGLD.DE (iShares Physical Gold (EUR Hedged) ETC) are both Precious Metals funds - ZGLD.SW tracks the Gold Bullion while IGLD.DE tracks the Gold (EUR Hedged). Both are passively managed. Over the past 3 years, ZGLD.SW returned 24.75%/yr vs 25.58%/yr for IGLD.DE. Their correlation of 0.85 suggests significant overlap in exposure. ZGLD.SW charges 0.40%/yr vs 0.25%/yr for IGLD.DE.
Performance
ZGLD.SW vs. IGLD.DE - Performance Comparison
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Different Trading Currencies
ZGLD.SW is traded in CHF, while IGLD.DE is traded in EUR. To make them comparable, the IGLD.DE values have been converted to CHF using the latest available exchange rates.
Returns By Period
In the year-to-date period, ZGLD.SW achieves a 1.61% return, which is significantly higher than IGLD.DE's -1.64% return.
ZGLD.SW
- 1D
- -0.86%
- 1M
- -1.33%
- YTD
- 1.61%
- 6M
- 3.70%
- 1Y
- 26.58%
- 3Y*
- 24.75%
- 5Y*
- 15.03%
- 10Y*
- 10.72%
IGLD.DE
- 1D
- -1.12%
- 1M
- -2.04%
- YTD
- -1.64%
- 6M
- 1.96%
- 1Y
- 26.19%
- 3Y*
- 25.58%
- 5Y*
- —
- 10Y*
- —
ZGLD.SW vs. IGLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ZGLD.SW Swisscanto (CH) Gold ETF EA CHF | 1.61% | 45.59% | 35.04% | 3.06% | -1.08% |
IGLD.DE iShares Physical Gold (EUR Hedged) ETC | -1.64% | 61.24% | 26.09% | 3.78% | 2.48% |
Correlation
The correlation between ZGLD.SW and IGLD.DE is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jul 8, 2022 | 0.85 |
The correlation between ZGLD.SW and IGLD.DE has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.
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Return for Risk
ZGLD.SW vs. IGLD.DE — Risk / Return Rank
ZGLD.SW
IGLD.DE
ZGLD.SW vs. IGLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Swisscanto (CH) Gold ETF EA CHF (ZGLD.SW) and iShares Physical Gold (EUR Hedged) ETC (IGLD.DE). 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.
| ZGLD.SW | IGLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.21 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 1.45 | +0.15 |
| Martin ratioReturn relative to average drawdown | 4.18 | 3.75 | +0.44 |
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
| ZGLD.SW | IGLD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.18 | 1.07 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.96 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.76 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 1.15 | -0.68 |
Drawdowns
ZGLD.SW vs. IGLD.DE - Drawdown Comparison
The maximum ZGLD.SW drawdown since its inception was -38.49%, which is greater than IGLD.DE's maximum drawdown of -18.02%. Use the drawdown chart below to compare losses from any high point for ZGLD.SW and IGLD.DE.
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Drawdown Indicators
| ZGLD.SW | IGLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.49% | -18.02% | -20.47% |
Max Drawdown (1Y)Largest decline over 1 year | -16.91% | -18.02% | +1.11% |
Max Drawdown (3Y)Largest decline over 3 years | -16.91% | -18.02% | +1.11% |
Max Drawdown (5Y)Largest decline over 5 years | -16.94% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -16.94% | — | — |
Current DrawdownCurrent decline from peak | -15.57% | -16.77% | +1.20% |
Average DrawdownAverage peak-to-trough decline | -14.22% | -4.42% | -9.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.42% | 6.98% | -0.56% |
Volatility
ZGLD.SW vs. IGLD.DE - Volatility Comparison
The current volatility for Swisscanto (CH) Gold ETF EA CHF (ZGLD.SW) is 5.57%, while iShares Physical Gold (EUR Hedged) ETC (IGLD.DE) has a volatility of 6.51%. This indicates that ZGLD.SW experiences smaller price fluctuations and is considered to be less risky than IGLD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZGLD.SW | IGLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.57% | 6.51% | -0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 19.85% | 21.15% | -1.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.01% | 24.31% | -1.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.68% | 18.38% | -2.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.10% | 18.38% | -4.28% |
ZGLD.SW vs. IGLD.DE - Expense Ratio Comparison
ZGLD.SW has a 0.40% expense ratio, which is higher than IGLD.DE's 0.25% expense ratio.
Dividends
ZGLD.SW vs. IGLD.DE - Dividend Comparison
Neither ZGLD.SW nor IGLD.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, ZGLD.SW and IGLD.DE 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, IGLD.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLD.DE is cheaper with a 0.25% expense ratio, compared with 0.40% for ZGLD.SW.
ZGLD.SW tracks Gold Bullion, while IGLD.DE tracks Gold (EUR Hedged). They also come from different issuers: Swisscanto and iShares. Their fees differ too: 0.40% for ZGLD.SW and 0.25% for IGLD.DE.
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