ALUM.L vs. ^GSPC

Last updated Jul 16, 2026

ALUM.L (WisdomTree Aluminium) is Metals fund tracking the Bloomberg Aluminum, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, ALUM.L returned 4.54%/yr vs 13.36%/yr for ^GSPC. At a 0.16 correlation, their price movements are largely independent.

Performance

ALUM.L vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Aluminium (ALUM.L) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ALUM.L achieves a 7.95% return, which is significantly lower than ^GSPC's 10.62% return. Over the past 10 years, ALUM.L has underperformed ^GSPC with an annualized return of 4.54%, while ^GSPC has yielded a comparatively higher 13.36% annualized return.

ALUM.L

• 1D: -0.94%
• 1M: -6.65%
• 6M: 0.96%
• YTD: 7.95%
• 1Y: 25.30%
• 3Y*: 11.10%
• 5Y*: 3.80%
• 10Y*: 4.54%

^GSPC

• 1D: 0.38%
• 1M: 0.24%
• 6M: 9.32%
• YTD: 10.62%
• 1Y: 21.28%
• 3Y*: 18.90%
• 5Y*: 11.84%
• 10Y*: 13.36%

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

ALUM.L vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ALUM.L WisdomTree Aluminium	7.95%	18.18%	4.43%	-4.42%	-15.92%	38.11%	1.95%	-3.12%	-17.64%	29.63%
^GSPC S&P 500 Index	10.62%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Correlation

The correlation between ALUM.L and ^GSPC is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (10Y) Calculated over the trailing 10-year period	0.13
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008	0.16

Return for Risk

ALUM.L vs. ^GSPC — Risk / Return Rank

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

ALUM.L

ALUM.L Risk / Return Rank: 39
ALUM.L Sharpe Ratio Rank: 42
ALUM.L Sortino Ratio Rank: 40
ALUM.L Omega Ratio Rank: 41
ALUM.L Calmar Ratio Rank: 33
ALUM.L Martin Ratio Rank: 38

^GSPC

^GSPC Risk / Return Rank: 81
^GSPC Sharpe Ratio Rank: 79
^GSPC Sortino Ratio Rank: 81
^GSPC Omega Ratio Rank: 84
^GSPC Calmar Ratio Rank: 74
^GSPC Martin Ratio Rank: 86

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.

ALUM.L vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Aluminium (ALUM.L) and S&P 500 Index (^GSPC). 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.

	ALUM.L	^GSPC	Difference
Sharpe ratio: Return per unit of total volatility	1.24	1.70	-0.46
Sortino ratio: Return per unit of downside risk	1.76	2.34	-0.58
Omega ratio: Gain probability vs. loss probability	1.23	1.31	-0.08
Calmar ratio: Return relative to maximum drawdown	1.41	2.35	-0.94
Martin ratio: Return relative to average drawdown	4.81	10.19	-5.38

ALUM.L vs. ^GSPC - Sharpe Ratio Comparison

The current ALUM.L Sharpe Ratio is 1.24, which is comparable to the ^GSPC Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of ALUM.L and ^GSPC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ALUM.L vs. ^GSPC - Drawdown Comparison

The maximum ALUM.L drawdown since its inception was -77.63%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for ALUM.L and ^GSPC.

Drawdown Indicators

	ALUM.L	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-77.63%	-56.78%	-20.85%
Max Drawdown (1Y) Largest decline over 1 year	-17.89%	-9.10%	-8.79%
Max Drawdown (3Y) Largest decline over 3 years	-20.60%	-18.90%	-1.70%
Max Drawdown (5Y) Largest decline over 5 years	-47.28%	-25.43%	-21.85%
Max Drawdown (10Y) Largest decline over 10 years	-47.28%	-33.92%	-13.36%
Current Drawdown Current decline from peak	-56.47%	-0.49%	-55.98%
Average Drawdown Average peak-to-trough decline	-59.87%	-10.70%	-49.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.25%	2.09%	+3.16%

Volatility

ALUM.L vs. ^GSPC - Volatility Comparison

WisdomTree Aluminium (ALUM.L) has a higher volatility of 7.30% compared to S&P 500 Index (^GSPC) at 3.60%. This indicates that ALUM.L's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALUM.L	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.30%	3.60%	+3.70%
Volatility (6M) Calculated over the trailing 6-month period	17.84%	9.99%	+7.85%
Volatility (1Y) Calculated over the trailing 1-year period	20.27%	12.55%	+7.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.10%	17.01%	+6.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.17%	18.05%	+4.12%

Frequently Asked Questions

Can I hold both ALUM.L and ^GSPC in my portfolio?

ALUM.L and ^GSPC have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.