8PSG.DE vs. GBSE.DE
8PSG.DE (Invesco Physical Gold ETC) and GBSE.DE (WisdomTree Physical Gold EUR Daily Hedged) are both Gold funds - 8PSG.DE tracks the LBMA Gold Price PM while GBSE.DE tracks the MS Long Gold Euro Hedged. Both are passively managed. Over the past 5 years, 8PSG.DE returned 19.71%/yr vs 15.61%/yr for GBSE.DE. Their correlation of 0.86 suggests significant overlap in exposure. Both charge a 0.12% expense ratio.
Performance
8PSG.DE vs. GBSE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 8PSG.DE achieves a 2.72% return, which is significantly higher than GBSE.DE's 0.31% return.
8PSG.DE
- 1D
- 0.59%
- 1M
- -3.62%
- YTD
- 2.72%
- 6M
- 6.15%
- 1Y
- 31.10%
- 3Y*
- 28.02%
- 5Y*
- 19.71%
- 10Y*
- —
GBSE.DE
- 1D
- 0.75%
- 1M
- -4.83%
- YTD
- 0.31%
- 6M
- 4.58%
- 1Y
- 29.37%
- 3Y*
- 28.22%
- 5Y*
- 15.61%
- 10Y*
- 10.16%
8PSG.DE vs. GBSE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
8PSG.DE Invesco Physical Gold ETC | 2.72% | 48.98% | 34.29% | 9.43% | 7.00% | 3.81% | 6.88% |
GBSE.DE WisdomTree Physical Gold EUR Daily Hedged | 0.31% | 62.87% | 24.14% | 10.15% | -2.06% | -5.63% | 15.78% |
Correlation
The correlation between 8PSG.DE and GBSE.DE is 0.95, 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2020 | 0.86 |
The correlation between 8PSG.DE and GBSE.DE has been stable across timeframes, ranging from 0.86 to 0.95 - a consistent structural relationship.
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Return for Risk
8PSG.DE vs. GBSE.DE — Risk / Return Rank
8PSG.DE
GBSE.DE
8PSG.DE vs. GBSE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Physical Gold ETC (8PSG.DE) and WisdomTree Physical Gold EUR Daily Hedged (GBSE.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.
| 8PSG.DE | GBSE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.22 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 1.63 | +0.19 |
| Martin ratioReturn relative to average drawdown | 4.60 | 4.08 | +0.52 |
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
| 8PSG.DE | GBSE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 1.16 | +0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.21 | 0.90 | +0.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.65 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.04 | 0.31 | +0.73 |
Drawdowns
8PSG.DE vs. GBSE.DE - Drawdown Comparison
The maximum 8PSG.DE drawdown since its inception was -18.33%, smaller than the maximum GBSE.DE drawdown of -38.38%. Use the drawdown chart below to compare losses from any high point for 8PSG.DE and GBSE.DE.
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Drawdown Indicators
| 8PSG.DE | GBSE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.33% | -38.38% | +20.05% |
Max Drawdown (1Y)Largest decline over 1 year | -16.55% | -17.55% | +1.00% |
Max Drawdown (3Y)Largest decline over 3 years | -16.55% | -17.55% | +1.00% |
Max Drawdown (5Y)Largest decline over 5 years | -16.55% | -22.71% | +6.16% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.45% | — |
Current DrawdownCurrent decline from peak | -15.00% | -16.18% | +1.18% |
Average DrawdownAverage peak-to-trough decline | -6.04% | -18.88% | +12.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.54% | 7.02% | -0.48% |
Volatility
8PSG.DE vs. GBSE.DE - Volatility Comparison
The current volatility for Invesco Physical Gold ETC (8PSG.DE) is 5.09%, while WisdomTree Physical Gold EUR Daily Hedged (GBSE.DE) has a volatility of 5.93%. This indicates that 8PSG.DE experiences smaller price fluctuations and is considered to be less risky than GBSE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 8PSG.DE | GBSE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.09% | 5.93% | -0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 20.17% | 21.62% | -1.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.14% | 24.64% | -1.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.04% | 17.12% | -1.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.13% | 15.50% | +0.63% |
8PSG.DE vs. GBSE.DE - Expense Ratio Comparison
Both 8PSG.DE and GBSE.DE have an expense ratio of 0.12%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
8PSG.DE vs. GBSE.DE - Dividend Comparison
Neither 8PSG.DE nor GBSE.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, 8PSG.DE and GBSE.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.
Both ETFs have the same 0.12% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
8PSG.DE and GBSE.DE have the same expense ratio: 0.12% per year.
8PSG.DE tracks LBMA Gold Price PM, while GBSE.DE tracks MS Long Gold Euro Hedged. They also come from different issuers: Invesco and WisdomTree.
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