AUCO.L vs. PHGP.L
AUCO.L (L&G Gold Mining UCITS ETF) and PHGP.L (WisdomTree Physical Gold) are both Gold funds - AUCO.L tracks the STOXX Global Gold Miners Index while PHGP.L tracks the Gold. Both are passively managed. Over the past 10 years, AUCO.L returned 13.80%/yr vs 11.53%/yr for PHGP.L. A 0.70 correlation means they provide meaningful diversification when combined. AUCO.L charges 0.55%/yr vs 0.39%/yr for PHGP.L.
Performance
AUCO.L vs. PHGP.L - Performance Comparison
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Different Trading Currencies
AUCO.L is traded in USD, while PHGP.L is traded in GBp. To make them comparable, the PHGP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, AUCO.L achieves a -9.57% return, which is significantly lower than PHGP.L's -5.62% return. Over the past 10 years, AUCO.L has outperformed PHGP.L with an annualized return of 13.80%, while PHGP.L has yielded a comparatively lower 11.53% annualized return.
AUCO.L
- 1D
- 2.52%
- 1M
- -9.87%
- YTD
- -9.57%
- 6M
- -14.11%
- 1Y
- 53.11%
- 3Y*
- 49.15%
- 5Y*
- 23.24%
- 10Y*
- 13.80%
PHGP.L
- 1D
- 1.39%
- 1M
- -8.23%
- YTD
- -5.62%
- 6M
- -9.46%
- 1Y
- 22.15%
- 3Y*
- 28.08%
- 5Y*
- 17.59%
- 10Y*
- 11.53%
AUCO.L vs. PHGP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AUCO.L L&G Gold Mining UCITS ETF | -9.57% | 181.83% | 17.96% | 15.02% | -14.30% | -10.12% | 21.72% | 44.14% | -10.42% | 10.00% |
PHGP.L WisdomTree Physical Gold | -5.62% | 64.70% | 25.72% | 12.61% | -0.40% | -3.99% | 23.41% | 19.06% | -1.72% | 11.22% |
Correlation
The correlation between AUCO.L and PHGP.L is 0.81, 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 | 0.81 |
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 | 0.73 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2008 | 0.70 |
The correlation between AUCO.L and PHGP.L shifts across timeframes, from 0.70 (all time) to 0.81 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AUCO.L vs. PHGP.L — Risk / Return Rank
AUCO.L
PHGP.L
AUCO.L vs. PHGP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Gold Mining UCITS ETF (AUCO.L) and WisdomTree Physical Gold (PHGP.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.
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.
| AUCO.L | PHGP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.17 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 0.90 | +0.58 |
| Martin ratioReturn relative to average drawdown | 3.75 | 2.56 | +1.20 |
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Drawdowns
AUCO.L vs. PHGP.L - Drawdown Comparison
The maximum AUCO.L drawdown since its inception was -78.30%, which is greater than PHGP.L's maximum drawdown of -60.03%. Use the drawdown chart below to compare losses from any high point for AUCO.L and PHGP.L.
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Drawdown Indicators
| AUCO.L | PHGP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.30% | -60.03% | -18.27% |
Max Drawdown (1Y)Largest decline over 1 year | -35.92% | -24.61% | -11.31% |
Max Drawdown (3Y)Largest decline over 3 years | -35.92% | -24.61% | -11.31% |
Max Drawdown (5Y)Largest decline over 5 years | -48.62% | -24.61% | -24.01% |
Max Drawdown (10Y)Largest decline over 10 years | -54.47% | -24.61% | -29.86% |
Current DrawdownCurrent decline from peak | -32.56% | -23.40% | -9.16% |
Average DrawdownAverage peak-to-trough decline | -40.75% | -26.86% | -13.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.11% | 8.64% | +5.47% |
Volatility
AUCO.L vs. PHGP.L - Volatility Comparison
L&G Gold Mining UCITS ETF (AUCO.L) has a higher volatility of 18.91% compared to WisdomTree Physical Gold (PHGP.L) at 8.61%. This indicates that AUCO.L's price experiences larger fluctuations and is considered to be riskier than PHGP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AUCO.L | PHGP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.91% | 8.61% | +10.30% |
Volatility (6M)Calculated over the trailing 6-month period | 39.30% | 22.21% | +17.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 48.02% | 25.22% | +22.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.69% | 22.78% | +15.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.65% | 18.82% | +16.83% |
AUCO.L vs. PHGP.L - Expense Ratio Comparison
AUCO.L has a 0.55% expense ratio, which is higher than PHGP.L's 0.39% expense ratio.
Dividends
AUCO.L vs. PHGP.L - Dividend Comparison
Neither AUCO.L nor PHGP.L has paid dividends to shareholders.
Frequently Asked Questions
AUCO.L and PHGP.L have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PHGP.L is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PHGP.L is cheaper with a 0.39% expense ratio, compared with 0.55% for AUCO.L.
AUCO.L tracks STOXX Global Gold Miners Index, while PHGP.L tracks Gold. They also come from different issuers: L&G and WisdomTree. Their fees differ too: 0.55% for AUCO.L and 0.39% for PHGP.L.
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