GBSE.DE vs. 8PSE.DE
GBSE.DE (WisdomTree Physical Gold EUR Daily Hedged) and 8PSE.DE (Invesco Physical Gold (EUR Hedged) ETC) are both Gold funds - GBSE.DE tracks the MS Long Gold Euro Hedged while 8PSE.DE tracks the LBMA Gold Price PM (EUR Hedged). Both are passively managed. Over the past 5 years, GBSE.DE returned 15.61%/yr vs 15.46%/yr for 8PSE.DE. With a 0.97 correlation, they move nearly in lockstep. GBSE.DE charges 0.12%/yr vs 0.34%/yr for 8PSE.DE.
Performance
GBSE.DE vs. 8PSE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, GBSE.DE achieves a 0.31% return, which is significantly higher than 8PSE.DE's 0.15% return.
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%
8PSE.DE
- 1D
- 0.72%
- 1M
- -4.91%
- YTD
- 0.15%
- 6M
- 4.44%
- 1Y
- 29.12%
- 3Y*
- 28.08%
- 5Y*
- 15.46%
- 10Y*
- —
GBSE.DE vs. 8PSE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GBSE.DE WisdomTree Physical Gold EUR Daily Hedged | 0.31% | 62.87% | 24.14% | 10.15% | -2.06% | -5.63% | 2.79% |
8PSE.DE Invesco Physical Gold (EUR Hedged) ETC | 0.15% | 62.78% | 24.11% | 10.00% | -2.18% | -5.81% | 2.14% |
Correlation
The correlation between GBSE.DE and 8PSE.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 | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jul 16, 2020 | 0.97 |
The correlation between GBSE.DE and 8PSE.DE has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
GBSE.DE vs. 8PSE.DE — Risk / Return Rank
GBSE.DE
8PSE.DE
GBSE.DE vs. 8PSE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Gold EUR Daily Hedged (GBSE.DE) and Invesco Physical Gold (EUR Hedged) ETC (8PSE.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.
| GBSE.DE | 8PSE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.60 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 0.56 | +1.07 |
| Martin ratioReturn relative to average drawdown | 4.08 | 2.31 | +1.77 |
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
| GBSE.DE | 8PSE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.16 | 0.16 | +1.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | 0.17 | +0.73 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.65 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.16 | +0.15 |
Drawdowns
GBSE.DE vs. 8PSE.DE - Drawdown Comparison
The maximum GBSE.DE drawdown since its inception was -38.38%, smaller than the maximum 8PSE.DE drawdown of -50.81%. Use the drawdown chart below to compare losses from any high point for GBSE.DE and 8PSE.DE.
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Drawdown Indicators
| GBSE.DE | 8PSE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.38% | -50.81% | +12.43% |
Max Drawdown (1Y)Largest decline over 1 year | -17.55% | -50.81% | +33.26% |
Max Drawdown (3Y)Largest decline over 3 years | -17.55% | -50.81% | +33.26% |
Max Drawdown (5Y)Largest decline over 5 years | -22.71% | -50.81% | +28.10% |
Max Drawdown (10Y)Largest decline over 10 years | -24.45% | — | — |
Current DrawdownCurrent decline from peak | -16.18% | -16.31% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -18.88% | -10.13% | -8.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.02% | 12.27% | -5.25% |
Volatility
GBSE.DE vs. 8PSE.DE - Volatility Comparison
WisdomTree Physical Gold EUR Daily Hedged (GBSE.DE) and Invesco Physical Gold (EUR Hedged) ETC (8PSE.DE) have volatilities of 5.93% and 5.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBSE.DE | 8PSE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.93% | 5.95% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 21.62% | 71.01% | -49.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.64% | 181.73% | -157.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.12% | 87.63% | -70.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.50% | 81.06% | -65.56% |
GBSE.DE vs. 8PSE.DE - Expense Ratio Comparison
GBSE.DE has a 0.12% expense ratio, which is lower than 8PSE.DE's 0.34% expense ratio.
Dividends
GBSE.DE vs. 8PSE.DE - Dividend Comparison
Neither GBSE.DE nor 8PSE.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, GBSE.DE and 8PSE.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, GBSE.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GBSE.DE is cheaper with a 0.12% expense ratio, compared with 0.34% for 8PSE.DE.
GBSE.DE tracks MS Long Gold Euro Hedged, while 8PSE.DE tracks LBMA Gold Price PM (EUR Hedged). They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.12% for GBSE.DE and 0.34% for 8PSE.DE.
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