BULP.L vs. PHSP.L
BULP.L (WisdomTree Gold) and PHSP.L (WisdomTree Physical Silver) are both exchange-traded funds - BULP.L is a Precious Metals fund tracking the Gold, while PHSP.L is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, BULP.L returned 12.01%/yr vs 16.46%/yr for PHSP.L. A 0.66 correlation means they provide meaningful diversification when combined. Both charge a 0.49% expense ratio.
Performance
BULP.L vs. PHSP.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with BULP.L having a 3.12% return and PHSP.L slightly lower at 2.97%. Over the past 10 years, BULP.L has underperformed PHSP.L with an annualized return of 12.01%, while PHSP.L has yielded a comparatively higher 16.46% annualized return.
BULP.L
- 1D
- 0.71%
- 1M
- -1.50%
- YTD
- 3.12%
- 6M
- 4.39%
- 1Y
- 31.07%
- 3Y*
- 25.79%
- 5Y*
- 17.62%
- 10Y*
- 12.01%
PHSP.L
- 1D
- 0.46%
- 1M
- 1.03%
- YTD
- 2.97%
- 6M
- 28.18%
- 1Y
- 115.25%
- 3Y*
- 41.79%
- 5Y*
- 22.23%
- 10Y*
- 16.46%
BULP.L vs. PHSP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BULP.L WisdomTree Gold | 3.12% | 50.05% | 26.15% | 5.12% | 9.83% | -4.73% | 15.76% | 12.89% | 2.70% | 0.05% |
PHSP.L WisdomTree Physical Silver | 2.97% | 129.68% | 22.85% | -6.51% | 15.50% | -12.11% | 40.85% | 12.57% | -3.55% | -5.67% |
Correlation
The correlation between BULP.L and PHSP.L is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2007 | 0.66 |
The correlation between BULP.L and PHSP.L has been stable across timeframes, ranging from 0.62 to 0.71 - a consistent structural relationship.
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Return for Risk
BULP.L vs. PHSP.L — Risk / Return Rank
BULP.L
PHSP.L
BULP.L vs. PHSP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Gold (BULP.L) and WisdomTree Physical Silver (PHSP.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.
| BULP.L | PHSP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.81 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.37 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 2.96 | -1.23 |
| Martin ratioReturn relative to average drawdown | 4.57 | 6.48 | -1.91 |
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
| BULP.L | PHSP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.31 | 2.12 | -0.81 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.06 | 0.67 | +0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.74 | 0.56 | +0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.37 | +0.20 |
Drawdowns
BULP.L vs. PHSP.L - Drawdown Comparison
The maximum BULP.L drawdown since its inception was -44.90%, smaller than the maximum PHSP.L drawdown of -70.01%. Use the drawdown chart below to compare losses from any high point for BULP.L and PHSP.L.
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Drawdown Indicators
| BULP.L | PHSP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.90% | -70.01% | +25.11% |
Max Drawdown (1Y)Largest decline over 1 year | -17.88% | -38.75% | +20.87% |
Max Drawdown (3Y)Largest decline over 3 years | -17.88% | -38.75% | +20.87% |
Max Drawdown (5Y)Largest decline over 5 years | -17.88% | -38.75% | +20.87% |
Max Drawdown (10Y)Largest decline over 10 years | -23.68% | -38.75% | +15.07% |
Current DrawdownCurrent decline from peak | -16.32% | -33.72% | +17.40% |
Average DrawdownAverage peak-to-trough decline | -16.25% | -40.07% | +23.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.79% | 17.73% | -10.94% |
Volatility
BULP.L vs. PHSP.L - Volatility Comparison
The current volatility for WisdomTree Gold (BULP.L) is 5.11%, while WisdomTree Physical Silver (PHSP.L) has a volatility of 16.28%. This indicates that BULP.L experiences smaller price fluctuations and is considered to be less risky than PHSP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BULP.L | PHSP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 16.28% | -11.17% |
Volatility (6M)Calculated over the trailing 6-month period | 20.04% | 51.17% | -31.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.59% | 54.02% | -30.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.63% | 32.98% | -16.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.23% | 29.24% | -13.01% |
BULP.L vs. PHSP.L - Expense Ratio Comparison
Both BULP.L and PHSP.L have an expense ratio of 0.49%.
Dividends
BULP.L vs. PHSP.L - Dividend Comparison
Neither BULP.L nor PHSP.L has paid dividends to shareholders.
Frequently Asked Questions
BULP.L and PHSP.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.49% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
BULP.L and PHSP.L have the same expense ratio: 0.49% per year.
BULP.L is categorized as Precious Metals, while PHSP.L is Silver. BULP.L tracks Gold, while PHSP.L tracks LBMA Silver Price.
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