GBSE.DE vs. 8PSG.DE
GBSE.DE (WisdomTree Physical Gold EUR Daily Hedged) and 8PSG.DE (Invesco Physical Gold ETC) are both Gold funds - GBSE.DE tracks the MS Long Gold Euro Hedged while 8PSG.DE tracks the LBMA Gold Price PM. Both are passively managed. Over the past 5 years, GBSE.DE returned 15.61%/yr vs 19.71%/yr for 8PSG.DE. Their correlation of 0.86 suggests significant overlap in exposure. Both charge a 0.12% expense ratio.
Performance
GBSE.DE vs. 8PSG.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 lower than 8PSG.DE's 2.72% 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%
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 vs. 8PSG.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% | 15.78% |
8PSG.DE Invesco Physical Gold ETC | 2.72% | 48.98% | 34.29% | 9.43% | 7.00% | 3.81% | 6.88% |
Correlation
The correlation between GBSE.DE and 8PSG.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 GBSE.DE and 8PSG.DE has been stable across timeframes, ranging from 0.86 to 0.95 - a consistent structural relationship.
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Return for Risk
GBSE.DE vs. 8PSG.DE — Risk / Return Rank
GBSE.DE
8PSG.DE
GBSE.DE vs. 8PSG.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 ETC (8PSG.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 | 8PSG.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 | 1.22 | 1.26 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 1.82 | -0.19 |
| Martin ratioReturn relative to average drawdown | 4.08 | 4.60 | -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
| GBSE.DE | 8PSG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.16 | 1.30 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | 1.21 | -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 | 0.31 | 1.04 | -0.73 |
Drawdowns
GBSE.DE vs. 8PSG.DE - Drawdown Comparison
The maximum GBSE.DE drawdown since its inception was -38.38%, which is greater than 8PSG.DE's maximum drawdown of -18.33%. Use the drawdown chart below to compare losses from any high point for GBSE.DE and 8PSG.DE.
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Drawdown Indicators
| GBSE.DE | 8PSG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.38% | -18.33% | -20.05% |
Max Drawdown (1Y)Largest decline over 1 year | -17.55% | -16.55% | -1.00% |
Max Drawdown (3Y)Largest decline over 3 years | -17.55% | -16.55% | -1.00% |
Max Drawdown (5Y)Largest decline over 5 years | -22.71% | -16.55% | -6.16% |
Max Drawdown (10Y)Largest decline over 10 years | -24.45% | — | — |
Current DrawdownCurrent decline from peak | -16.18% | -15.00% | -1.18% |
Average DrawdownAverage peak-to-trough decline | -18.88% | -6.04% | -12.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.02% | 6.54% | +0.48% |
Volatility
GBSE.DE vs. 8PSG.DE - Volatility Comparison
WisdomTree Physical Gold EUR Daily Hedged (GBSE.DE) has a higher volatility of 5.93% compared to Invesco Physical Gold ETC (8PSG.DE) at 5.09%. This indicates that GBSE.DE's price experiences larger fluctuations and is considered to be riskier than 8PSG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBSE.DE | 8PSG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.93% | 5.09% | +0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 21.62% | 20.17% | +1.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.64% | 23.14% | +1.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.12% | 16.04% | +1.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.50% | 16.13% | -0.63% |
GBSE.DE vs. 8PSG.DE - Expense Ratio Comparison
Both GBSE.DE and 8PSG.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
GBSE.DE vs. 8PSG.DE - Dividend Comparison
Neither GBSE.DE nor 8PSG.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, GBSE.DE and 8PSG.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.
GBSE.DE and 8PSG.DE have the same expense ratio: 0.12% per year.
GBSE.DE tracks MS Long Gold Euro Hedged, while 8PSG.DE tracks LBMA Gold Price PM. They also come from different issuers: WisdomTree and Invesco.
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